Canara Bank Revises MCLR Rates Effective August 12, 2026
Canara Bank announced revised Marginal Cost of Funds Based Lending Rates (MCLR) effective August 12, 2026. MCLR for tenors from one month to three years have seen an increase, with the one-year MCLR moving to 8.80%. Overnight MCLR remains at 7.95%.
Changes in MCLR directly affect the interest rates on loans, impacting both the bank's profitability and the borrowing costs for its customers. This is a significant operational change.
The revision in MCLR is a routine operational update for a bank and does not inherently represent a positive or negative development without further context on loan demand or asset quality.
Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). The new rates will be effective from August 12, 2026. The bank has increased its MCLR across various tenors. Specifically, the Overnight MCLR remains unchanged at 7.95%. However, the One Month MCLR has been revised from 8.00% to 8.05%. The Three Month MCLR has been increased from 8.25% to 8.30%. The Six Month MCLR will now be 8.65%, up from 8.60%. The One Year MCLR has been revised to 8.80% from 8.75%. For longer tenors, the Two Year MCLR will be 9.05% (previously 9.00%), and the Three Year MCLR will be 9.10% (previously 9.05%). This revision impacts the bank's lending rates across different loan durations.
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Canara Bank filed this with the NSE as a statutory disclosure, categorised under interest rates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Canara Bank. Read the original for the full detail.