Canara Bank, Union Bank, IOB Slash Home Loan Rates –Check Latest Lending Rates

New Delhi: Canara Bank, Union Bank and Indian Overseas Bank (IOB) have introduced aid of their lending charges following the Reserve Bank of India’s (RBI) announcement reducing the repo price through 50 foundation issues, from 6.00% to 5.50%, in the most recent Monetary Policy Committee (MPC) assembly.

Canara financial institution has lowered Repo Linked Lending Rate (RLLR) from 8.75 % to 8.25 % (appropriate on its property portfolio related to External Benchmark price). The revised lending charges will likely be efficient from 12 June 2025, stated Canara Bank. 

“The RLLR has been reduced by 0.50% (50 basis points), directly reflecting the decrease in the RBI’s repo rate. This move will lower borrowing costs for customers with loans linked to RLLR. Depending on their loan terms, customers may benefit from reduced EMIs (Equated Monthly Instalments) or a shorter loan tenure. Canara Bank, with a commitment to provide better banking experience to its customers, has offered the due benefits to borrowers by reducing RLLR,” the financial institution stated in a commentary.

Union Bank and Indian Overseas Bank Hhave additionally introduced a downward revision of External Benchmark Lending Rate (EBLR) and Repo Linked Lending Rate (RLLR) through 50 foundation issues.