Money & Banking

Canara Bank reduces MCLR by 10 bps

Our Bureau. Bengaluru | Updated on February 08, 2021

Canara Bank has reduced interest rates on loans / advances by 10 basis points for overnight and one-month tenor with effect from February 7.

The bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) on Loans / Advances by 10 basis points, and accordingly, the tenor linked MCLRs of the bank is as under: Overnight MCLR – interest rate 6.70 per cent; one-month MCLR – interest rate 6.70 per cent; three-month MCLR – interest rate 6.95 per cent; six month MCLR – interest rate 7.30 per cent; and one year MCLR – interest rate 7.35 per cent. Repo Linked Lending Rate (RLLR) continues to be at 6.90 per cent.

Published on February 08, 2021

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