Yes Bank ups PLR by 50 bps to 13 per cent

New-generation private sector bank, Yes Bank, has upped its prime lending rate (PLR) by 50 basis points from 12.5 to 13 per cent - the third such increase this year.

"We have hiked our PLR to be in tandem with market requirements," Rana Kapoor, bank managing director and CEO, said here today.

All its loans too have been re-priced by 50 bps while deposit rates of one and two year tenures too were upped, Kapoor said.

On deposits front, the bank now gives a maximum of 8.5 per cent interest to customers and 8.75 per cent to senior citizens for one year with its cost of funds presently stands at slightly over 6.5 per cent.

"However, since we earn more than 50 per cent of our income from fee-based businesses, we are less interest-rate sensitive than others," Kapoor said.

He said the bank had succeeded in maintaining its net interest margins at around three per cent and was confident of maintaining it at around that figure.