Canara Bank trims MCLR rate by 5-15 basis points on various tenor

The new interest rates are in effect from November 07, 2020.

Nov 09, 2020 09:11 IST India Infoline News Service

Canara Bank
State-owned Canara Bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) on various tenor in the range of 5-15 basis points.

MCLR on 1-year tenor stands at 7.35% from previous 7.40%.

While MCLR on six-month tenor comes at 7.30% from earlier 7.35%.

A 15 basis points cut was given on below six-month tenor. MCLR for three-month tenor is now at 6.95% from previous 7.10%.

Also, 6.80% rate each will be applicable on one-month and overnight tenor compared to earlier 6.95% each.

The new interest rates are in effect from November 07, 2020. 

Related Story