Canara Bank retains Interest rates on loans/advances with effect from 07.04.2022
Chennai, 6 April 2022: Canara Bank, a leading Public Sector Bank, has retained its Marginal Cost of Fund Based Lending Rate (MCLR) on Loans / Advances across all tenors with effect from April 7th, 2022.
Accordingly, the tenor linked MCLRs of the Bank shall be as under with effect from 07.04.2022:
| Tenor | Existing MCLR | MCLR
w.e.f. 07.04.2022 |
Change |
| Overnight MCLR | 6.55 % | 6.55 % | No Change |
| One Month MCLR | 6.55 % | 6.55 % | No Change |
| Three Month MCLR | 6.85 % | 6.85 % | No Change |
| Six Month MCLR | 7.20 % | 7.20 % | No Change |
| One Year MCLR | 7.25 % | 7.25 % | No Change |
Repo Linked Lending Rate (RLLR) continues to be at 6.90%.
About Canara Bank:
Widely known for customer centricity, Canara Bank was fou nded by Shri Ammembal Subba Rao Pai, a great visionary an d philanthropist, in July 1906, at Mangalore, then a small po rt town in Karnataka. Canara Bank is the third-largest public sector Bank in the country. The Bank has gone through var ious phases in its growth traject ory over the hundred years of its existence. The growth of Canara Bank was ph enomenal, especially after natio nalization in the year 1969, attaining the status of a national-level player in te rms of geographical reach and clie ntele segments. In June 2006, the Bank completed a century of operations in the Indian Banking industry. The eventful journey of the Bank has been characterized by several memorable mi lestones. Today, Canara Bank occu pies a premier position in the comity of Indian Banks.
