Canara Bank cuts MCLR by 5 bps across tenures, effective Wednesday
This story was originally published at 18:40 IST on 11 November 2025
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--Canara Bank cuts MCLR by 5 bps across all tenures, effective Wed
NEW DELHI – Canara Bank has lowered its marginal cost of funds-based lending rates by 5 basis points across tenures, effective Wednesday, the bank informed exchanges Tuesday. The revised MCLR for the bank now ranges from 7.90% to 8.90% for overnight to three-year tenures.
The Reserve Bank of India's norms require banks to review their MCLR every month. The public sector bank reported a net profit of INR 47.74 billion for the September quarter, up 19% on year. On Tuesday, shares of the bank ended 0.1% lower at INR 140.87 on the National Stock Exchange.
Canara Bank's marginal cost of funds-based lending rates for various tenures are as follows:
Tenure | Revised rate (%) | Previous rate (%) |
Overnight | 7.90 | 7.95 |
One month | 7.95 | 8.00 |
Three-month | 8.15 | 8.20 |
Six-month | 8.50 | 8.55 |
One year | 8.70 | 8.75 |
Two-year | 8.85 | 8.90 |
Three-year | 8.90 | 8.95 |
End
Reported by Shubham Rana
Edited by Subhojit Sarkar
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