Public sector lender, Dena Bank has increased base rate by 0.50% and also its benchmark prime lending rate (BPLR) by 0.25%. The revised rates come into effect from December 15.
The new rates would accordingly stand at 8.95% (base rate) and 13.75% (BPLR).
Apart from this, the bank has also increased its interest rates on fixed deposits by as much as 150 basis points.
Interest rates for deposits maturing from 121 to 179 days will now fetch interest of 7% as compared to 5.5% earlier.
Maturities of 180-270 days and 271-364 days will carry interest of 7.50% and 6.50% respectively.
Deposits having maturity of 1 year will now fetch the depositor an interest of 8.25% while deposits of a maturity of more than one-year to less than five-years will carry an interest rate of 8.25 %.
Senior citizens will receive additional interest of 0.50% on all maturities.