New Delhi, July 6 (SocialNews.XYZ) Canara Bank has reduced marginal cost of funds-based lending rate (MCLR) on loans and advances across all tenors with effect from July 7. The interest rate has come down by 10 basis points (bps).
Accordingly, MCLRs of the bank shall vary between 7.20 per cent for overnight loans/advances and 7.55 per cent for one-year loans/advances.
The repo-linked lending rate continues to be 6.90 per cent.
After the amalgamation of Syndicate Bank into Canara Bank on April 1, 2020, it has attained the position of 4th largest public sector bank with a business of Rs 15,53,792 crore. It now has 10,403 domestic branches, 13,448 ATMs and around 6,000 Business Correspondents.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz