Canara Bank has formally notified the stock exchanges regarding a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) structure. These new rates will come into effect starting February 12, 2026. The announcement details rate changes across various tenors, including a decrease of 5 basis points (bps) for the Overnight and One Month MCLR, while rates for tenors from Three Months up to Three Years remain unchanged from their existing levels.
Canara Bank Revises Lending Rates
Canara Bank has issued a formal disclosure announcing a review and subsequent revision of its Marginal Cost of Funds Based Lending Rate (MCLR). This new rate schedule will be implemented effective from February 12, 2026.
MCLR Rate Adjustments Summary
The bank’s filing outlines specific changes across different lending tenors. The most notable adjustments involve rate reductions for shorter-term loans. The Overnight MCLR has been reduced from 7.90% to 7.85%, representing a 5 basis points decrease. Similarly, the One Month MCLR has moved from 7.95% to 7.90%.
Conversely, the rates for medium and long-term tenors have been maintained at their current levels:
- Three Month MCLR: Remains at 8.15%.
- Six Month MCLR: Remains at 8.50%.
- One Year MCLR: Remains at 8.70%.
- Two Year MCLR: Remains at 8.85%.
- Three Year MCLR: Remains at 8.90%.
New Rate Schedule Table (Effective 12.02.2026)
| S No | MCLR Tenor | Existing Rate | Rate w.e.f. 12.02.2026 |
|---|---|---|---|
| 1 | Overnight MCLR | 7.90 | 7.85 |
| 2 | One Month MCLR | 7.95 | 7.90 |
| 3 | Three Month MCLR | 8.15 | 8.15 |
| 4 | Six Month MCLR | 8.50 | 8.50 |
| 5 | One Year MCLR | 8.70 | 8.70 |
| 6 | Two Year MCLR | 8.85 | 8.85 |
| 7 | Three Year MCLR | 8.90 | 8.90 |
The bank confirms that this information has been disseminated to the relevant parties for their information and records, as mandated by statutory requirements.
Source: BSE
