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What is BPLR(Benchmark Prime Lending Rate) and Base Rate?

Written By Unknown on Friday, April 20, 2012 | 9:37 PM

Qun-What is BPLR(Benchmark Prime Lending Rate) and Base Rate?
Ans- BPLR is the rate on which the commercial banks gives loans to its customers as Personal loan,home loans.Every bank has
its BPLR.In India it was started in 2003 But after it many banks started provide cheap loans to attaract its
customer below its desired rate So RBI started the Base Rate system in 2010 to enact down the BPLR system.
according to it no bank can give loan to it customer below the base rate of bank. If the banks give loan below
the base rate it would be benificial for all the persons belong to the bank.
(Base rate it the least rate of loan,below it no loan can be given by the bank.)
The persons who are having the BPLR rate have choice to migrate its rate to the base rate of the bank.
Base rate can be different of the Different Banks.
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