UCO Bank raises prime lending rate by 25 basis points

Kolkata, Aug 9 (IANS) City-based public sector bank UCO Bank raised its Benchmark Prime Lending Rate (BPLR) by 25 basis points to 12.50 percent from Monday (Aug 9).

The bank has increased the interest rates for term deposit of different durations with effect from Aug 6.

‘The new rates of interest for seven to 14 days deposit (Rs.15 lakh and above) is 2.50 percent, senior citizens will get 0.75 percent extra. Interest rates for one year and three years to less than five years, for an amount of less than Rs.15 lakh, have been increased to 6.75 percent and 7.25 percent respectively,’ the bank said in a statement here.

Senior citizens would get 0.50 percent higher rate of interest in both the schemes.

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