Public sector lender, Canara Bank has increased its benchmark prime lending rate (BPLR) by as much as 50 basis points.
The BPLR of the bank now stands at 13.75% with effect from yesterday.
The bank has also raised interest rates on fixed deposits with effect from today.
Interest rates have been raised across different maturities in the range of 25-150 basis points.
In addition, another deposit scheme called 'Canara Samriddhi'. It is a 1200 days deposit scheme which will offer the depositor an interest of 9.25% to general citizens and 9.75% for senior citizens.