Canara Bank slashes Interest rates on loans/advances with effect from August 7

Chennai: Canara Bank, a leading Public Sector Bank, has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) on Loans / Advances across all tenors with effect from August 07, 2020. Bank has reduced interest rate by 10 basis points under one year and 6 month tenor, 30 basis points under 3 month tenor and 20 basis points under Overnight and one month tenors.

Accordingly, the tenor linked MCLRs of the Bank shall be as under with effect from 07.08.2020:

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