With the RLLR reduction of Canara Bank, the minimum interest rate for all loans has bone down, or that housing loans have been reduced to 7.90% of AP and vehicle loans to 8.20% PA | Photo credit: Somashekara Grn
Canara Bank, based in Bengaluru, has reduced its loan rate linked to the repository (RLLR) in 25 basic points. The announcement was made after the decision of the Monetary Policy Committee of the Bank of the Reserve of India (MPC) to reduce the repo rate of 6.25 percent to 6.00 percent.
With the RLLR reduction, the minimum interest rate for all loans has low bone, or that housing loans have a bone reduced to 7.90 percent of AP loans and vehicle to 8.20 percent of Pa
For the quarter that ended in December 2024, the bank saw an increase of 12.26 percent of yoy in housing loans ₹ 1.03 Lakh Crore and an increase of 17.26 years in vehicle loans.
“Canara Bank continues to align its offers with the client’s needs by guaranteeing the timely transmission of policy rates.
This rate review is effective as of April 12, 2025.
(With entries from Business line Internal rohan das)
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Posted on April 25, 2025