Canara Bank slashes Interest rates on loans/advances with effect from 07.06.2020

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 June 07, 2020. Bank has reduced interest rate by 20 basis points across all tenors i.e, one year, 6 months, 3 months, 1 month and Overnight tenors.

Accordingly, the tenor linked MCLRs of the Bank shall be as under with effect from 07.06.2020:

Overnight MCLR - 7.30%
One-Month MCLR - 7.30%
Three- Month MCLR - 7.55%
Six-Month MCLR - 7.60%
One Year MCLR - 7.65%

Repo Linked Lending Rate (RLLR) has been reduced by 40 basis points from 7.30% to 6.90% effective from 07.06.2020.

Shares of CANARA BANK was last trading in BSE at Rs.104.35 as compared to the previous close of Rs. 97.2. The total number of shares traded during the day was 1434953 in over 7860 trades.

The stock hit an intraday high of Rs. 106.1 and intraday low of 98. The net turnover during the day was Rs. 145950584.

Source : Equity Bulls

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