Stock Market

Canara Bank retains Interest rates on loans/advances with effect from 07.11.2021

Bengaluru, November 7, 2021: Canara Bank, a leading Public Sector Bank, has retained its Marginal Cost of Fund Based Lending Rate (MCLR) on Loans / Advances across all tenors with effect from November 7, 2021.

Accordingly, the tenor linked MCLRs of the Bank shall be as under with effect from 07.11.2021:

Repo Linked Lending Rate (RLLR) continues to be at 6.90%.

About Canara Bank:

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then, a small port town in Karnataka.

Canara Bank is the fourth-largest public sector bank in the country after its amalgamation with Syndicate Bank in April 2020. At present, it is functioning with 9800 Branches ― 3037 Rural, 2796 Semi-Urban, 1971 Urban and 1996 Metro branches ― along with 12360 ATMs. The Bank has gone through various phases in its growth trajectory over the hundred years of its existence.
The growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national-level player in terms of geographical reach and clientele segments. In June 2006, the Bank completed a century of operations in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks.

This news was shared to Prittle Prattle News via press release.

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