Now the latest MCLR for one year tenure stands at 7.85%.
As for, quarter and half-year ended tenure, the MCLR rate would stand at 7.75% and 7.80% respectively.
For lower tenures like overnight and one month, the MCLR would be 7.50% each.
In the notification, Canara Bank also pointed out that the Repo Rate Linked Lending Rate (RLLR) of our bank for Retail Loans (Housing, Auto, Etc) & Micro, Small and Medium Enterprises (MSME) has also been revised at 7.30% from May 07, 2020.
RLLR is an external benchmark set for deciding lending rate for home loans, auto loans, personal loans, corporate loans like MSMEs, etc. RLLR is linked with the performance of the Reserve Bank of India (RBI) repo rate.
On Sensex, the Canara Bank stock price was trading at Rs82.15 per piece up by 1.23% at around 09.48 am.