Canara Bank Announces Reduction in Rate of Interest – Lower Interest and Lesser EMIs

Bengaluru, June 13, 2025: Canara Bank, one of India’s leading public sector banks, revised its RLLR from 8.75% to 8.25 % effective from 12 June 2025. Upon the downward revision in Repo Linked Lending Rate (RLLR) by the Reserve Bank of India, Canara Bank is passing on the entire 50 Basis Points (0.50% Reduction in Interest Rate) benefit to its customers. The reduction in the Rate of Interest with lesser EMIs amount augments the borrowing powers to the customers and encouraging credit growth in the economy.

With the RLLR reduction, the minimum rate of interest for all the loans have been lowered out of which, the popular loan products are:

Housing Loans – Reduced from 7.90% p.a. to 7.40% p.a.

 Vehicle Loans –Reduced from 8.20% p.a. to 7.70% p.a.

This rate cut will result in lower EMIs for borrowers, easing customer burden and encouraging greater participation in home and vehicle ownership.

This move reflects Canara Bank’s continued focus on customer-centric policies and its commitment to supporting economic progress by enabling easier access to credit.