Price Update10 Jun 2026, 06:33 pm
Canara Bank Revises MCLR Rates Effective June 12, 2026
AI Summary
Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective June 12, 2026. The overnight MCLR will increase from 7.90% to 7.95%, and the one-month MCLR will rise from 7.95% to 8.00%. Similarly, the three-month and six-month MCLR will see an increase of 5 basis points each, moving to 8.25% and 8.60% respectively. The MCLR for tenors of one year, two years, and three years will remain unchanged at 8.75%, 9.00%, and 9.05% respectively. This adjustment reflects changes in the bank's cost of funds.
Key Highlights
- Canara Bank revises MCLR rates effective June 12, 2026.
- Overnight and one-month MCLR rates see a 5 bps increase.
- Three-month and six-month MCLR rates also increase by 5 bps.
- One-year, two-year, and three-year MCLR rates remain stable.
- Rate changes reflect adjustments in the bank's cost of funds.
Price Impact
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