IndusInd Bank hikes BPLR by 0.75 per cent
August 6th, 2008 | by admin |Rating: 0
Private-sector lender IndusInd Bank has hiked its benchmark prime lending rate (BPLR) by 0.75 per cent to 17 per cent with effect from August 4.
Many banks including leading lenders like ICICI Bank and Punjab National Bank had upped their BPLRs by upto 0.75 per cent recently after Reserve Bank hiked its key-rates in the quarterly monetary policy review.
Meanwhile, IndusInd Bank has cut interest rates on Non Resident External (NRE) and Foreign Currency Non-Resident (B) account deposits (FCNR(B)) from August 1, the bank said in a press release issued in Mumbai.
US Dollar deposits, having a tenor of 1-2 years will now attract an interest rate of 2.5 per cent as against 2.56 per cent while deposits in pound, in the same tenor, will attract a rate of 5.42 per cent as compared to 5.7 per cent earlier, the bank said.
Also, interest rate for 1-2 year deposits in Euro, which is presently at 4.64 per cent, has been revised to 4.62 per cent.
Similarly, rates for NRE deposits in 1-2 year, 2-3 year and 3 years have been revised as 3.25 per cent (3.31), 3.5 per cent(3.6) and 3.86 per cent (3.95) respectively.
The lender offers 10 per cent interest on 400 days deposit and 8.75 per cent on 200-days deposits.
