Canara Bank Revises MCLR Rates Effective March 12, 2026
Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) effective March 12, 2026. While overnight, one-month, three-month, six-month, and one-year MCLR rates remain unchanged, the two-year MCLR increases to 8.95% and the three-year MCLR to 9.00%.
The changes in MCLR are marginal and primarily affect longer-term lending. The impact on the bank's overall profitability and customer borrowing is expected to be minimal.
The announcement details a routine revision of lending rates with minor increases in longer tenors and no changes in shorter tenors. This does not significantly impact the bank's financial outlook positively or negatively.
Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective from March 12, 2026. The bank's Board of Directors approved the revised rates during a recent meeting.
The Overnight MCLR will remain unchanged at 7.85%. Similarly, the One Month MCLR will stay at 7.90% and the Three Month MCLR at 8.15%.
The Six Month MCLR will also remain constant at 8.50%, and the One Year MCLR will be unchanged at 8.70%.
However, there are upward revisions for longer tenors. The Two Year MCLR will be increased to 8.95% from the existing 8.85%. The Three Year MCLR will be revised to 9.00% from the current 8.90%.
These revised rates are in line with the bank's strategy to align its lending rates with market conditions and maintain competitiveness.
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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 low impact, the band that almost never moves a portfolio on its own.
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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.