Canara Bank Cuts Lending Rate by 25 BPS, EMIs May Drop for Borrowers

• Canara Bank reduced its Repo Linked Lending Rate (RLLR) by 25 basis points, from 8.25% to 8.00%.
• The reduction aligns with the Reserve Bank of India’s (RBI) recent repo rate cut from 5.50% to 5.25%.
• The revised RLLR will come into effect from December 12.
• Borrowers with repo-linked loans are likely to see a reduction in EMIs or loan tenure.
• HDFC Bank also lowered FD rates, and SBI adjusted lending/deposit rates, following the RBI's policy easing.

Why It Matters: Canara Bank's RLLR cut, following RBI, means potential EMI relief for borrowers from December 12.