Canara Bank, the Bangalore-based public sector lender, has revised upwards its Benchmark Prime Lending Rate by 50 basis points from 12 per cent to 12.50 per cent with effect from August 12, 2010.
The revised interest rates are, however, not applicable to the loans and advances granted after July 1, 2010 and to those borrowers who have opted to switch over to Base Rate System.
The upward revision in interest rates is also applicable to the borrowers under MSME, existing housing loans linked to BPLR and Personal Loan schemes, the bank said in a press release.
