Canara Bank reduces interest rates on loans/advances by 10 basis points for Overnight& 1 Month tenor

Canara Bank has reduced itsMarginal Cost of Funds Based Lending Rate (MCLR) on Loans /Advances by 10 basis points for Overnight and One Month tenorwith effect from February 7.

The Overnight and One-Month MCLR is now 6.70 per cent,Three- Month MCLR 6.95 per cent, Six-Month MCLR 7.30 per cent,and One Year MCLR 7. 35 per cent, it said in a statement onMonday.

''Repo Linked Lending Rate (RLLR) continues to be at 6.90per cent'', it was stated.