Canara Bank has announced a reduction in Repo Linked Lending Rate (RLLR) from 8.75 per cent to 8.25 per cent (applicable on its assets portfolio linked to External Benchmark rate), following the Reserve Bank of India’s (RBI) announcement cutting the repo rate by 50 basis points, from 6.00 per cent to 5.50 per cent, in the latest Monetary Policy Committee (MPC) meeting.
The revised lending rates will be effective from 12th June, 2025.
The RLLR has been reduced by 0.50 per cent (50 basis points), directly reflecting the decrease in the RBI’s repo rate.
This move will lower borrowing costs for customers with loans linked to RLLR. Depending on their loan terms, customers may benefit from reduced EMIs (Equated Monthly Instalments) or a shorter loan tenure.