Canara Bank has informed the Exchange regarding 'Revision in Marginal Cost of Funds Based Lending Rate (MCLR)w.e.f. 12.05.2026'.
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Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) upward across all seven tenors, effective 12 May 2026. The increases range from 7.90% for overnight MCLR to 9.05% for three-year MCLR. Each tenor has been increased by 5 basis points (0.05%). The existing one-year MCLR rises from 8.70% to 8.75%. This is a standard regulatory disclosure filed with both BSE and NSE. The revision indicates the bank is passing on higher funding costs to borrowers.
Existing borrowers with MCLR-linked loans will see their interest costs rise, while new loans will be priced higher. This rate hike could improve the bank's net interest income, though it may slightly impact loan demand.