Stocks in News Karur Vysya Bank Revises Base Rate and Benchmark Prime Lending Rate (BPLR)

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Karur Vysya Bank, one of the leading private sector banks in India, has announced a revision in its Base Rate and Benchmark Prime Lending Rate (BPLR) with effect from June 15, 2023. The new rates are as follows:
  • Base Rate: 8.25% per annum (reduced by 0.10% from 8.35%)
  • BPLR: 12.75% per annum (reduced by 0.10% from 12.85%)
The Base Rate is the minimum interest rate at which the bank lends to its customers, except for certain categories of loans. The BPLR is the reference rate for determining the interest rate on loans and advances that are not linked to the Base Rate.

The revision in the Base Rate and BPLR will benefit the existing borrowers of the bank who have availed loans at floating rates. The new rates will also make the bank’s loan products more attractive and competitive in the market.

The bank has taken this decision in view of the prevailing economic conditions and the monetary policy stance of the Reserve Bank of India (RBI). The bank aims to provide affordable and convenient banking services to its customers and support the growth of various sectors of the economy.

Karur Vysya Bank is a well-established bank with a strong presence in South India. It offers a wide range of banking products and services, including deposits, loans, cards, insurance, investments, digital banking and more. The bank has a network of over 800 branches and over 1800 ATMs across the country. The bank has also received various awards and recognitions for its performance and customer service.

If you are looking for a reliable and trusted banking partner, Karur Vysya Bank is the right choice for you. To know more about the bank and its products and services, visit www.kvb.co.in or call 1860 200 1916.

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