Archive · 11 Jun 2025
Canara Bank Cuts Rates Following RBI's Repo Reduction
The Reserve Bank of India (RBI) lowered a key interest rate, which made borrowing cheaper for banks.
Following this, Canara Bank reduced its loan rates.
This means people with home, personal, or auto loans linked to these rates might pay less each month.
The RLLR reduction reflects the decrease in the RBI’s repo rate.
Customers may benefit from reduced payments.
Canara Bank reduced its Repo Linked Lending Rate (RLLR) from 8.75% to 8.25%.
The RBI cut the repo rate by 50 basis points, from 6.00% to 5.50%.
The new rates from Canara Bank will be effective from June 12, 2025.
The RLLR reduction directly reflects the decrease in the RBI’s repo rate.
The move will lower borrowing costs for customers with loans linked to RLLR.
- Who
- Canara Bank, RBI, and consumers
- What
- Canara Bank reduced its Repo Linked Lending Rate (RLLR).
- When
- June 12, 2025 (effective date)
- Where
- India
- Why
- To provide affordable credit and stimulate economic growth.
- RBI Repo Rate Cut
- 50 basis points to 5.50%
- Canara Bank RLLR
- Reduced from 8.75% to 8.25%
- Effective Date (Canara Bank)
- June 12, 2025
Sources
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