Canara Bank raises MCLR by 5 bps for overnight, 1-mo, 3-mo, 6-mo from Fri
This story was originally published at 18:59 IST on 10 June 2026
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--Canara Bank to up MCLR by 5 bps for overnight, 1-mo, 3-mo, 6-mo from Fri
NEW DELHI – Canara Bank has raised its marginal cost of funds-based lending rates by 5 basis points for most tenures, the bank informed stock exchanges Wednesday. The revised rates will be effective from Friday.
The bank has raised the MCLR for overnight, one-month, three-month, and six-month tenures by 5 bps and left the MCLR for one-year, two-year, and three-year tenures unchanged at 8.75%, 9.00%, and 9.05%, respectively. The revised MCLR will range from 7.95% to 9.05% for overnight to three-year tenures.
The Reserve Bank of India's norms require banks to review their MCLR every month. The RBI's Monetary Policy Committee Friday left the repo rate unchanged at 5.25%, having reduced the rate by 125 bps in 2025.
For the March quarter, the Karnataka-based bank reported a net profit of INR 45.06 billion on total income of INR 366.62 billion. On Wednesday, shares of the bank ended nearly 3% lower at INR 133.46 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 | 7.95 | 7.90 |
| One month | 8.00 | 7.95 |
| Three-month | 8.25 | 8.20 |
| Six-month | 8.60 | 8.55 |
| One year | 8.75 | 8.75 |
| Two year | 9.00 | 9.00 |
| Three year | 9.05 | 9.05 |
End
Reported by Shweta
Edited by Avishek Dutta
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