CANBK · price
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Canara Bank has announced an upward revision of 5 basis points (0.05%) in its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective 12 May 2026. The overnight MCLR has been increased from 7.85% to 7.90%, while the one-year MCLR has been raised from 8.70% to 8.75%. The three-year MCLR, the longest tenor listed, has been revised from 9.00% to 9.05%. This is a uniform 5 basis point increase across all seven MCLR tenors. The revision was communicated to BSE and NSE on 11 May 2026 by the Company Secretary.
Existing floating rate borrowers will see a marginal increase in their loan EMIs upon next reset date. For the bank, this rate hike could modestly improve Net Interest Margin (NIM) on new loan disbursements and reset loans, which is slightly positive for bank earnings.