Canara Bank has announced a revision to its Marginal Cost of Funds Based Lending Rate (MCLR). Effective June 12, 2026, the bank’s MCLR for various tenors will see a slight increase. The Overnight MCLR will be 7.95%, One Month MCLR at 8.00%, and Three Month MCLR at 8.25%. Longer tenors like Six Month, One Year, Two Year, and Three Year MCLR will be 8.60%, 8.75%, 9.00%, and 9.05% respectively.
Canara Bank Announces MCLR Revision
Canara Bank has officially informed the stock exchanges about a revision in its Marginal Cost of Funds Based Lending Rate (MCLR). This revised rate structure will be effective from June 12, 2026. The bank’s management has approved these changes, which are intended to align with prevailing market conditions and funding costs.
Revised MCLR Rates Effective June 12, 2026
The updated MCLR for different lending tenors is as follows:
- Overnight MCLR: Increased from 7.90% to 7.95%
- One Month MCLR: Increased from 7.95% to 8.00%
- Three Month MCLR: Increased from 8.20% to 8.25%
- Six Month MCLR: Increased from 8.55% to 8.60%
- One Year MCLR: Remains unchanged at 8.75%
- Two Year MCLR: Remains unchanged at 9.00%
- Three Year MCLR: Remains unchanged at 9.05%
This notification serves as a formal update for all stakeholders and for record-keeping purposes.
Communication Details
The communication, dated June 10, 2026, was addressed to the Vice President of both the BSE Ltd. and the National Stock Exchange of India Ltd. The subject of the letter clearly stated “Revision in Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 12.06.2026”.
Source: BSE
