MCLR System Of Fixing Loan Rates

Canara Bank, Union Bank of India, and Indian Overseas Bank have slashed their lending rates by 50 basis points (bps) following the RBI's policy rate cut, offering borrowers potential savings.

Check if you are on the best possible loan rate and also make part prepayment to counter the rise in interest rate

Benchmarks can be changed, but without any action on errants banks who are gaming the system, borrowers will be on the losing side