State Bank of Mysore raises BPLR rate by 25 points

State Bank of Mysore has announced to raise the Benchmark Prime Lending Rate of the bank by 25 basis points to 13.50 percent. The new rates will come into effect from today itself. State Bank of Mysore is subsidiary bank of State Bank of India.

The BPLR is used for determining interest rates on loans and advances sanctioned up to June 30, 2010. For the loans that were sanctioned after 30^th June , base rate is applicable.

Recently several other banks like ICICI , State Bank of Travancore , Kotak Mahindra Bank and Dhanlakshmi bank raised their BPLR rates .