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Canara Bank lowers interest rates on loans by 10 bps - New Delhi News

New Delhi, July 6 (IANS) Canara Bank has reduced marginal cost of funds-based lending rate (MCLR) on loans and advances across all tenors with effect from July 7. The interest rate has come down by 10 basis points (bps).

Updated Jul 06, 2020 11:20 AM

Canara Bank lowers interest rates on loans by 10 bps - New Delhi News

Accordingly, MCLRs of the bank shall vary between 7.20 per cent for overnight loans/advances and 7.55 per cent for one-year loans/advances.

The repo-linked lending rate continues to be 6.90 per cent.

After the amalgamation of Syndicate Bank into Canara Bank on April 1, 2020, it has attained the position of 4th largest public sector bank with a business of Rs 15,53,792 crore. It now has 10,403 domestic branches, 13,448 ATMs and around 6,000 Business Correspondents.

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media