Canara Bank raises BPLR by 50 bps

Public sector Canara Bank has raised its Benchmark Prime Lending Rate (BPLR) by 50 basis points, from 13.25% to 13.75% with effect from tomorrow.

The upward revision in interest rates is applicable to the borrowers under BPLR, a release said.

Further, responding to the market trends and keeping in view the depositors' interest, Canara Bank has revised the rate of interest on domestic term deposits effective from tomorrow.

The rates have been increased across several maturities.

The increase is in the range of 25-150 basis points.

In addition to this, the bank has also introduced a 1,200-days deposit scheme "Canara Samriddhi" offering an attractive interest rate of 9.25% for general public and 9.75% for senior citizens.