Mumbai: Public sector Dena Bank, on Monday said raised its base rate by 0.50% and its benchmark prime lending rate (BPLR) by 0.25% with effect from 15 December.
Accordingly, the bank’s revised base rate will stand at 8.95% and the BPLR at 13.75%, a press release issued here stated.
The bank has also upped its interest rates on term deposits by up to 1.50% with effect from today, the release said.
Deposits for a maturity of 121-179-days will now carry an interest rate of 7% per annum as against the earlier 5.50%.
Deposits of maturities of 180-270-days and 271-364-days will carry an uniform interest rate of 7.50% as against the earlier 6.25% and 6.50% in the respective maturities.
Deposits of a maturity of one-year will now earn an interest rate of 8.25% as against the earlier 8% while deposits of a maturity of more than one-year to less than five-years will carry an interest rate of 8.25% per annum as against the earlier 7.75%, the release said.
For senior citizens, an additional interest over and above the card rate at 0.50% per annum for all maturities will be paid, the bank said.