OREANDA-NEWS. August 1, 2011. Allahabad Bank, a premier nationalised Bank of the country, has decided to increase Base Rate by 50 basis points to 10.75 % and Benchmark Prime Lending Rate (BPLR) by 50 basis points to 15.00 % in view of the present interest rate scenario.

The Upward Revision in Base Rate and BPLR will be effective from 1st of August, 2011.

The existing customers of the Bank will have the option to switch from BPLR to the Base Rate whenever they so desire for which no fee would be charged.