Canara Bank Loan Interest Rates 2023: Public sector Canara Bank has given great news to its customers today. Canara Bank has reduced its lending rate by 0.15 percent despite the increase in repo rate from RBI Bank. In order to keep the inflation rate under control in the country, the RBI has increased the repo rate by 25 basis points this week, after which people are worried about increasing their installments. After increasing the repo rate, most of the banks increase the interest rate of their loans. Know what is this update from Canara Bank ..
Repo linked lending rate reduced
Canara Bank has reduced its lending rate by 0.15 percent despite the increase in the repo rate. In the information sent to the stock markets, this bank has informed that it has reduced the Repo Linked Lending Rate (RLLR). These new rates will be applicable from 12 February 2023. After this deduction, the new RLLR from the bank has come down by 0.15 to 9.25 per cent. Earlier this rate was 9.40 percent.
This bank increased MCLR
Earlier, HDFC Bank has increased its MCLR rates by 0.25 per cent to 8.85 per cent. HDFC has increased the one-day MCLR rate from 8.30 percent to 8.50 percent now, the one-month MCLR has been increased from 8.30 percent earlier to 8.55 percent. Along with this, the one-year MCLR has been increased by 0.25 percent to 8.85 percent. It was earlier 8.60 percent.
RBI had increased the repo rate
Reserve Bank of India (RBI) Governor Shaktikanta Das had increased the repo rate for the sixth consecutive time. RBI Bank has increased the key policy rate repo by 0.25 percent to 6.50 percent on 8 February. Shaktikanta Das said in the monetary policy meeting that the pressure of rising inflation in the world is also falling on India. But to keep it completely under control, it has become necessary to increase the interest rates of loans. This time the repo rate is being increased by only 0.25 percent.
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