Canara Bank has informed the Exchange regarding 'Revision in Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 12.07.2025 '.
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Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective July 12, 2025. The bank has reduced the rate by 5 basis points (0.05%) at every tenor. Overnight MCLR moves from 8.00% to 7.95%, one-month from 8.05% to 8.00%, three-month from 8.25% to 8.20%, six-month from 8.60% to 8.55%, one-year from 8.80% to 8.75%, two-year from 8.95% to 8.90%, and three-year from 9.00% to 8.95%. This is a uniform 5 bps cut across the entire MCLR curve. The revision was disclosed to the exchanges under SEBI LODR Regulation 30.
Existing borrowers on MCLR-linked loans will benefit from slightly lower interest costs, and new borrowers will get marginally cheaper loans. However, this rate cut may mildly compress the bank's net interest margins in the near term, though it could support credit growth and borrower demand.