With effect from 01 November 2017
Karnataka Bank has reduced its MCLRs of all tenors by 10 bps with effect from 1 November 2017. The revised MCLR of various tenors are as follows -
Overnight - 8.25%
One month - 8.30%
Three month - 8.35%
Six month - 8.40%
One year - 8.75%
The Bank is now offering housing loan up to Rs 75 lakh at an interest rate of 8.50% p.a. (linked to 6 months MCLR of the Bank).
Further, the bank has also reduced the rate of interest for car loans and is now offering KCL- Car Finance at an interest rate of 9.80% p.a.
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