Canara Bank Revises MCLR Rates Effective May 12, 2026
Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) effective May 12, 2026. Overnight MCLR increased to 7.90%, one-month to 7.95%, three-month to 8.20%, six-month to 8.55%, one-year to 8.75%, two-year to 9.00%, and three-year to 9.05%.
Changes in MCLR directly affect the borrowing costs for customers and, consequently, the bank's net interest margins. This is a significant operational factor for a bank.
The revision in MCLR is a routine operational update for a bank and does not inherently represent positive or negative news for the company.
Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) with effect from May 12, 2026. The bank's MCLR for overnight tenor has been revised to 7.90% from the existing 7.85%. For the one-month tenor, the MCLR has been increased to 7.95% from 7.90%. The three-month MCLR will now be 8.20%, up from 8.15%. The six-month MCLR has been revised to 8.55% from 8.50%. For the one-year tenor, the MCLR has been increased to 8.75% from 8.70%. The two-year MCLR will be revised to 9.00% from 8.95%, and the three-year MCLR will be 9.05%, an increase from 9.00%. This revision impacts the bank's lending rates across various tenors.
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Canara Bank filed this with the NSE as a statutory disclosure, categorised under other company updates. 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.