Bengaluru: Canara Bank has declared a decrease in its Repo Linked Lending Rate (RLLR) from 8.75% to 8.25% (applicable to its asset portfolio linked to the External Benchmark rate). This change comes in response to the Reserve Bank of India’s (RBI) recent decision to lower the repo rate by 50 basis points, from 6.00% to 5.50%, during the latest Monetary Policy Committee (MPC) meeting. This represents the third consecutive rate reduction by the RBI in 2025, indicating a supportive approach towards fostering economic growth amid 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.