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Saturday, 1 April 2017

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Canara Bank cuts MCLR rate by 10 bps to 9.4% from April 1

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Public sector Canara Bank announced 0.10 percentage point reduction in its MCLR-based lending rate to 9.40 per cent from April 1, making loans cheaper for consumers.

The bank has revised its base rate (based on MCLR) from 9.50 per cent to 9.40 per cent, a reduction of 10 basis points (0.10 per cent) with effect from April 1, 2017

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