Bengaluru: Canara Bank, in an official statement, has announced a reduction in its Repo Linked Lending Rate (RLLR) from 8.75 percent to 8.25 percent (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 percent to 5.50 percent, 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 June 12, 2025.
The RLLR has been reduced by 0.50 percent (50 basis points), directly reflecting the decrease in the RBI’s repo rate.
Impact on customers
This move will lower borrowing costs for customers with loans linked to RLLR, the press release added.
Depending on their loan terms, customers may benefit from reduced EMIs (Equated Monthly Instalments) or a shorter loan tenure.
