50 basis points are added to the loan rate by Canara Bank.

Canara Bank announced that it would raise its repo rate related lending rate by 50 basis points or 0.15% to 8.30% with effect from August 7 . The interest rate on home loans will be 8.10 percent for general customers .

Mumbai (Maharashtra) India – On August 6, Canara Bank announced that it would raise its repo rate related lending rate by 50 basis points or 0.15% to 8.30 percent with effect from August 7.Canara Banks' decision comes just a day after the Reserve Bank of India (RBI) lowered the policy repo rate to tame inflation.The interest rate on home loans will be 8.10 percent for general customers, according to data published on Canara Bank's website.It will be increased to 8.05 percent for women customers.

The SDF rate has been increased to 5.15 percent, while the marginal standing facility (MSF) rate and the Bank Rate have been increased to 5.65 percent.The MPC remained firmly committed to eliminating accommodation to ensure that inflation stays within the target range as well as supporting growth.