Canara Bank reduces MCLR by 25 bps


BENGALURU: Canara Bank on Thursday reduced its marginal cost of funds based lending rate (MCLR) on loans and advances across all tenors.

The bank has reduced interest rate by 25 basis on overnight, one month, three month and six month. And has reduced MCLR by 15 basis points for one-year tenor with effect from February 7, 2020.



As a result of the change, the interest rates charged for overnight and one-month loans would be 7.65%. For three-month tenor loans the MCLR would be 7.95%; for six months 8.10% and one-year 8.20%.


Source: https://realty.economictimes.indiatimes.com/news/industry/canara-bank-reduces-mclr-by-25-bps/74020904

February 08, 2020

2 views
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • Black LinkedIn Icon

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.