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Karnataka Bank reduces its MCLR by 10 BPS

Karnataka Bank reduces its MCLR by 10 BPS

Mangalore Today News Network

Mangaluru, Oct 31, 2017 : Karnataka Bank has reduced its MCLRs of all tenors by 10 BPS w.e.f. 01.11.2017. The revised MCLR of various tenors are as below:


Karnataka bank 31 oct 17

Type of MCLR            Existing     


One year MCLR             8.85        8.75

Six months MCLR          8.50        8.40

Three months MCLR      8.45        8.35

One month MCLR          8.40        8.30

Overnight MCLR            8.35        8.25

The Bank is now offering housing loan of upto Rs. 75.00 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 KBL-Car Finance at an attractive rate of interest of 9.80% p.a.
The Bank has 774 branches, 1393 ATMs and 123 E-lobbies across the country.

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