Canara Bank cuts home, auto loan rates

Canara Bank cut home loan rates by 75 basis points (bps) and interest rates on automobile loans by 100 bps, the bank said in a release today.

Both the rate cuts will come into effect from Monday. Canara Bank’s interest rates on automobile loans will be 12.50 per cent from Monday, the release said. On Friday, Canara Bank shares ended at Rs 192.65 on the National Stock Exchange, up 5.6 per cent from the previous close.