Bank Of India Home Loan Interest rate: Canara Bank, Union Bank, Bank of India hike home loan interest rates: Check latest rates here

The Reserve Bank of India (RBI) said that the Monetary Policy Committee (MPC) unanimously opted to raise rates by 40 basis points in an off-cycle meeting.

Following this many banks have started hiking interest rates on home loans.

Canara Bank, Union Bank, Bank of India have hiked their repo-linked lending rates.

Here is a look at the latest RLLR interest rates on loans.

Canara Bank

According to the Canara Bank website, “Rates of Interest of all Retail Lending Schemes are linked to Repo Linked Lending Rate (RLLR).” The RLLR of the bank now stands at 7.30 percent with effect from May 7, 2022.

Union Bank of India

According to the Union Bank of India, “Rate of Interest of Retail Lending Schemes Updated on 01.05.2022 EBLR as on 01.11.2020 is 6.80%; i.e. RBI Repo Rate (4.00%) + Spread (2.80%).”

Note that all new Union Home and Union Awas loan customers including those switching from other Benchmarks, such as MCLR, Base Rate, or BPLR to EBLR will be charged the approved rate of interest.

Bank of India

As per Bank of India website, “Rate of interest all linked to RBLR/MCLR RBLR 7.25 % w.e.f. 04.05.2022 & BOI MCLR 7.35 % w.e.f. 01.10.2020 (Spread is from -0.35% to 1.50%).”


According to the PNB website, “As on date, Repo Linked Lending Rate (RLLR): 6.90% w.e.f. 01.06.2022 for existing customers. However, for new customers it will be effective from 07.05.2022.”

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