Bengaluru: Canara Bank has announced a reduction in its Repo Linked Lending Rate (RLLR) from 8.75% to 8.25%. This rate applies to its asset portfolio that is linked to the External Benchmark rate. The adjustment follows the Reserve Bank of India’s (RBI) recent decision to cut the repo rate by 50 basis points, bringing it down from 6.00% to 5.50% during the latest Monetary Policy Committee (MPC) meeting. This marks the third consecutive rate cut by the RBI in 2025, reflecting a commitment to support economic growth in the context of declining inflation.
The revised lending rates will be effective from 12th June, 2025. The RLLR has been reduced by 0.50% (50 basis points), directly reflecting the decrease in the RBI’s repo rate. This move will lower borrowing costs for customers with loans linked to RLLR. Depending on their loan terms, customers may benefit from reduced EMIs (Equated Monthly Instalments) or a shorter loan tenure.
Canara Bank, dedicated to enhancing its customers’ banking experience, has provided borrowers with significant benefits by lowering the RLLR.