Bengaluru, Jun 6 (UNI) Canara Bank on Saturday reduced its Marginal Cost of Funds Based Lending Rate (MCLR) on loans and advances with effect from Sunday.
Bank has reduced interest rate by 20 basis points across all tenors i.e, one year, six months, three months, one month and overnight tenors, a statement said.
Accordingly, the tenor linked MCLRs of the Bank shall be overnight MCLR 7.30 per cent, one month MCLR 7.30 per cent, three months 7.55 per cent, six months 7.60 per cent and one year MCLR 7.65 per cent.
Repo Linked Lending Rate (RLLR) has been reduced by 40 basis points from 7.30 per cent to 6.90 per cent, the statement added.
UNI MSP JTS 1737