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Canara Bank slashes Interest rates on loans/advances with effect from 07.04.2020

Posted On: 2020-04-06 16:45:32


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 April 07, 2020 for the Amalgamated Entity. Bank has reduced interest rate by 35 basis points under one year tenor, 30 basis points under 6 months tenor, 20 basis points under 3 months tenor and 15 basis points under Overnight and one month tenors.

Accordingly, the tenor linked MCLRs of the Bank shall be as under with effect from 07.04.2020:

Overnight MCLR - 7.50%
One-Month MCLR - 7.50%
Three- Month MCLR - 7.75%
Six-Month MCLR - 7.80%
One Year MCLR - 7.85%

Repo Linked Lending Rate (RLLR) has been reduced by 75 basis points from 8.05% to 7.30% effective from 07.04.2020.

Shares of CANARA BANK was last trading in BSE at Rs.84.1 as compared to the previous close of Rs. 90.25. The total number of shares traded during the day was 365314 in over 3261 trades.

The stock hit an intraday high of Rs. 90 and intraday low of 83.55. The net turnover during the day was Rs. 31217580.


Source: Equity Bulls

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