Karnataka Bank has revised its MCLRs and the revised MCLR of various tenors are as below:
|Type of MCLR||Existing (%)||Revised (%)|
|One year MCLR||8.95||8.95|
|Six months MCLR||8.55||8.65|
|Three months MCLR||8.50||8.60|
|One month MCLR||8.45||8.45|
The revised MCLR are effective from 01.11.2018. The bank has made upward revision of its 6 Months MCLR and 3 Months MCLR by 10 BPS.
The Bank is now offering housing loan of upto Rs. 75.00 Lakh at an interest rate of 8.70% p.a. (linked to 6 Months MCLR of the Bank).
Further, to have more focus on retail lending, the bank has since reduced its interest rate on Mortgage Loan, KBL-Home Comfort (i.e. top up loans) and KBL-Lease N Cash scheme.
To support women entrepreneurs, the Bank has also reduced the interest rate on its KBL-Mahila Udyog scheme from 10.10% p.a. to 9.90% p.a.