In Line with RBI, Canara Bank Slashes Lending Rate
Bengaluru, June 12th, 2025: Canara Bank has announced a reduction in Repo Linked Lending Rate (RLLR) from 8.75 % to 8.25 % (applicable on its assets portfolio linked to External Benchmark rate), following the Reserve Bank of India’s (RBI) announcement cutting the repo rate by 50 basis points, from 6.00% to 5.50%, in the latest Monetary Policy Committee (MPC) meeting. This marks the third consecutive rate cut by the RBI in 2025, signalling a supportive stance towards economic growth amidst easing 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, with a commitment to provide better banking experience to its customers, has offered the due benefits to borrowers by reducing RLLR.
