Canara Bank has informed the Exchange regarding 'Change in MCLR'.
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Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) effective from 12.03.2026. Rates for overnight, one-month, three-month, six-month, and one-year tenors remain unchanged. However, the two-year MCLR has been increased by 10 basis points from 8.85% to 8.95%, and the three-year MCLR has also been raised by 10 basis points from 8.90% to 9.00%. This is a routine revision of the bank's internal benchmark lending rate.
A marginal increase in the longer-tenor MCLRs is likely to push up interest rates on new loans linked to the two-year and three-year MCLR benchmarks, slightly improving lending yields for the bank. Short-term loan rates remain unaffected.