Monday, February 19, 2007

SBI PLR up by 75 basis points

Existing housing, educational loans will be excluded

MUMBAI: State Bank of India on Monday raised its benchmark prime lending rate (BPLR) by 0.75 percentage point to 12.25 per cent from Tuesday, an SBI release said.

However, all the existing housing and educational loans will be excluded from the BPLR change as will new educational loans up to Rs. 4 lakh. Similarly, all the existing and future agriculture production loans less than Rs. 3 lakh will be excluded from its impact.

SBI also increased the rates offered on its super-saver term deposits scheme by modifying its terms.

For a tenure of four years but less than five years, interest rates will be 9.50 per cent, while for senior citizens it will be 9.75 per cent.

For SBI staff, including pensioners of 60 years and above, the rate will be 9.75 per cent.

For a tenure of five years and up to ten years, interest rates will be 8.25 per cent, while for senior citizens, the rate applicable will be 8.75 per cent. SBI staff, including pensioners of 60 years and above, will get 25 basis points more interest at 9 per cent. — PTI

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