How Would Canara Bank Home Loan Interest Rates Influence Your Repayment?
Canara Bank is one of the leading public lenders in the business of providing custom home loans. You can apply for a loan here to purchase or construct a new flat, in addition to repairing, renovating and extending the existing housing units. Not only that, you can even purchase a plot and construct a home on the same. Amidst all, it’s the interest rate that grabs most of the attention, isn’t it? Therefore, it is vital to check in advance the effects of Canara Bank Home Loan interest rates to be in good stead when the repayment finally kicks off. The article lets you do just that. So, keep reading. An Overview on Canara Bank Home Loan Interest Rates Canara Bank offers home loans at interest rates benchmarked to the 1-year MCLR, which currently is 8.70%. The Marginal Cost of Lending Rate (MCLR), as you would know, changes based on the variation in the bank’s cost of funds and other aspects. The MCLR is added with a spread of 5-25 basis points to arrive at the actual interest ...