ICICI Bank slashes tenor-linked PLR to 1%
By Our Banking Bureau | 31 Aug 2002
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Mumbai: ICICI Bank has reduced its tenor-linked prime lending rates (PLR) by 50 basis points to 1 per cent. Rates on the short-term PLR, for a maturity of up to one year, has been lowered to 11.50 per cent from the previous 12.50 per cent.
The medium-term PLR, for a maturity of one to three years, now has a rate of 12.00 per cent (12.50 per cent). Rate on cash credit PLR is now 13.00 per cent (13.50 per cent), while the rate on the long-term PLR, for maturities above three years, and the cash credit PLR remain unchanged at 12.50 per cent.
