Karnataka Bank Reduces its MCLR Across Various Tenors from April 1, 2017

Mangaluru: Karnataka Bank has reduced its marginal cost of funds based lending rate (MCLR) of various tenors with effect from April 1, 2017. 
The MCLR of various tenors are

Further, the Bank has also reduced the annual interest rate on housing loan to 9.00% and car loan to 9.90% for the new loans sanctioned on or after April 1, 2017.

Bank has also reduced interest rates on loans to agricultural activities, MSME, Export credit and other schemes.  The bank has 765 branches, 1380 ATMs and 110 E-lobbies, across the country, and is aiming for a business turnover of Rs. 1, 10,000 crore for the current fiscal.