Home Loan: Building a house will be expensive, this bank has increased the interest rates on home loans

If you are also going to take a loan from the bank and are dreaming of building a house, then your dream will be fulfilled but it will cost you dearly. This is because if you are planning to take a home loan from Canara Bank, then it will cost you dearly. The reason for this is that the bank has increased the interest rates.

The interest rates increased by the bank will be effective from today. The bank has revised both the Repo Linked Lending Rate and the MCLR. In such a situation, all your types of loans will become expensive, which will put a burden on your pocket. 

Canara Bank has increased the MCLR by up to 0.45 percent. Due to this, there will also be a change in the interest rates of loans of different periods of the bank and it will have a direct impact on your pocket. In such a situation, if you are taking a loan from Canara Bank, then you will have to repay the loan according to the increased interest rates.