IOB increases BPLR by 25 basis points

Indian Overseas Bank has increased the benchmark prime lending rate (BPLR) of the Bank by 25 basis points.

The city-headquartered bank has increased BPLR rates from the existing 13 per cent per annum to 13.25 per cent (excluding housing loans) with effect from December 16, IOB said in a filing to the BSE.

The Board of Directors by a circular resolution has approved the increase of BPLR rates, it added.