Public sector Canara Bank has increased its benchmark PLR by 75 basis points — from 13.25 per cent to 14.00 per cent — with effect from today, following monetary measures and hike in CRR and REPO rates.
This increase will not be applicable to its existing housing, auto and education loans.
The bank has also decided not to effect the upward revision in interest rates for fresh individual housing loans up to Rs 30 lakh.
The Bank will continue to focus on lending to productive sectors such as agriculture, SME, education, infrastructure and other growth segments in its endeavour to ensure quality credit portfolio, it said in a statement.
