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Union Bank of India increases Interest Rates 0.5 to 1%
Posted Date: 02 Jul 2008 Resource Type: News/Announcements Category: General
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Posted By: SajithkumarS Member Level: Diamond
Rating:  Points: 3
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All the major banks in India – ICICI Bank, HDFC Bank, SBI, BoB and PNB, to name a few – have increased the interest rates offered to fixed deposit customers. The banks have also hiked the interest rates that they charge on various loans, like home loans, personal loans and auto / car loans.
ICICI Bank (BAR) by 0.75% to 16.5%. (FRR) by 0.75% to 13.5%.
ICICI bank 0.5% to 1%, for deposits less then Rs. 15 Lakhs.
HDFC Bank (PLR) by 0.75%. The new PLR stands at 16%.
HDFC Bank has also increased its fixed deposit rates by 0.5% to 1%, depending on the tenure of the deposit.
HDFC (RPLR) by 0.5%. It has increased the adjustable or floating rate of interest for home loans for new borrowers to 11%. The fixed rate has been increased to 14%.
SBI (PLR) by 0.5% to 12.75%.
PNB has increased its rate to 13%.
Axis bank (PLR) by 0.5% to 15.25%.
IDBI Bank has raised its lending rate by 0.5%. The new lending rate is 13.75%.
IDBI Bank has also increased its fixed deposit rates by 0.25% to 0.75%
Bank of India has increased its PLR by 0.5% to 13.25%.
Bank of India has increased its term deposit rates by 0.25% to 1% depending on the tenure of the fixed deposit.
Canara bank has increased its rate to 13.25%.
Union bank has increased its rate to 13.25%.
Dena bank has increased its PLR by 0.5% to 13.5%.
It has also increased the interest rate on term deposits by 0.25% to 0.75% for maturities more than 180 days. The interest rate for fixed deposits with tenure of over two years is now 9%.
Vijaya bank has increased its PLR by 0.5% to 13.25%.
It has increased the interest rate by 0.5% for term deposits with tenure between 180 and 364 days, and the rate stands at 8%. The interest rate by 0.2% for term deposits with tenure between 1 year and 2, and the new rate is 9%.
Allahabad Bank has upped its benchmark prime lending rate (BPLR) by 0.5% to 13.5%.
It has also increased the interest rates on fixed deposits by upto 0.5% depending on the maturity of the deposit.
Andhra Bank has raised its PLR by 0.5% to 13.25%.
Indian Overseas Bank has raised its benchmark prime lending rate (BPLR) by 0.25%, but only for new loans.
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