With effect from 01 April 2018
Karnataka Bank has reviewed its MCLR and the revised MCLR's of various tenors are as under -
One year - 8.80%
Six month - 8.50%
Three month - 8.45%
One month - 8.40%
Overnight - 8.35%.
The revised MCLR rates is effective from 01 April 2018.
The Bank has reduced interest rate on loan products to MSME's at 9.65% p.a. (with cover under CGTMSE) and at 9.80% (without cover under CGTMSE), which was earlier ranging between 10.20% to 10.75% p.a.
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