Canara Bank and Indian Bank Slash Home and Vehicle Loan Rates as RBI Cuts Repo Rate | India-Business News

Canara, Indian Bank trim home, vehicle loan rates

NEW DELHI: Leading public sector lenders Canara and Indian Bank on Thursday lowered their repo-linked lending rate (RLLR) by 25 basis points in line with RBI making home and vehicle loans cheaper. Following the reduction, Indian Bank has cut its home loan interest rates from the existing 8.15% to 7.90% and vehicle loan interest rates from the existing 8.50% to 8.25%. With the RLLR reduction, the minimum rate of interest for all loans have been lowered, Canara Bank said in a statement. Their housing loan will now start at 7.90%.