Loan Borrowers Rejoice: Karur Vysya & South Indian Banks Slash Interest Rates

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Good News for Loan Takers: Karur Vysya Bank, South Indian Bank Cut MCLR Rates

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News18•24-02-2026, 22:15

Good News for Loan Takers: Karur Vysya Bank, South Indian Bank Cut MCLR Rates

•Karur Vysya Bank and South Indian Bank have reduced their Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points (0.10%).
•This MCLR cut will benefit customers with home, car, and personal loans, potentially saving thousands on long-term loans.
•Karur Vysya Bank's new rates are effective from February 22, 2026, applying to all loan tenures.
•Customers will receive the benefit of reduced installments if their loan's 'Reset Date' is after February 22.
•The MCLR cut primarily benefits older customers whose loans are MCLR-based, not those linked to the Repo Rate (EBLR).

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