Canara Bank slashes Interest rates on loans/advances with effect from 07.08.2020

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:

Overnight MCLR - 7.00%
One-Month MCLR - 7.00%
Three-Month MCLR - 7.15%
Six-Month MCLR - 7.40%
One Year MCLR - 7.45%

Repo Linked Lending Rate (RLLR) continues to be at 6.90%.

Shares of CANARA BANK was last trading in BSE at Rs.101.95 as compared to the previous close of Rs. 102.4. The total number of shares traded during the day was 295814 in over 1563 trades.

The stock hit an intraday high of Rs. 102.8 and intraday low of 101.5. The net turnover during the day was Rs. 30184883.

Source : Equity Bulls

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