Price Update7 Nov 2026, 07:20 pm
Canara Bank Hikes MCLR Across Tenors Effective Nov 12, 2026
AI Summary
Canara Bank has announced an increase in its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective November 12, 2026. The MCLR for overnight tenor will rise to 8.05% from 7.95%, and for a one-year tenor, it will increase to 8.90% from 8.80%. This adjustment is expected to impact loan interest rates for new and existing borrowers, potentially leading to higher borrowing costs.
Key Highlights
- MCLR rates increased across all tenors effective November 12, 2026.
- One-year MCLR revised to 8.90% from 8.80%.
- Overnight MCLR revised to 8.05% from 7.95%.
- The changes will affect new and existing loan interest rates.
- This is a standard pricing adjustment by the bank.
Price Impact
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