BANGALORE, May 12: In line with the strategy to ensure credit to productive sectors at lower rates for sustaining growth momentum, Union Bank of India has announced a downward revision in its Benchmark Prime Lending Rate (BPLR) by 50 bps from 15.5 per cent to 15 per cent per annum effective May 15.
Earlier, the bank had reduced Base Rate to 10.5 per cent, effective from May 1.
UBI in a release here said the revised BPLR shall be applicable to all existing accounts where the floating interest rate is linked to BPLR and those who have not opted to change to Base Rate.
(UNI)
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