Canara Bank revises MCLR rates, three-year tenor now at 9.00% | Business Upturn

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Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) effective from 12 March 2026. The changes will affect various tenors, with the three-year MCLR seeing an increase.

The revised rates are as follows: the overnight, one-month, three-month, six-month, and one-year MCLR rates remain unchanged at 7.85%, 7.90%, 8.15%, 8.50%, and 8.70% respectively. However, the two-year MCLR has been increased from 8.85% to 8.95%, and the three-year MCLR has been adjusted from 8.90% to 9.00%.

These adjustments in MCLR are crucial for borrowers as they directly impact the interest rates on loans. The unchanged rates for shorter tenors provide stability for short-term borrowers, while the increased rates for longer tenors may affect those with extended loan durations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

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TOPICS: Bengaluru Canara Bank Santosh Kumar Barik