Canara Bank hikes its MCLR and RRLR

New Delhi: State-owned Canara Bank said in a regulatory filing on Friday that it has revised both its MCLR and RRLR rates with effect from January 7. The filing also stated that Repo Linked Lending Rate (RLLR) will increase from 8.80 percent to 9.15 percent.

The bank also stated that the overnight MCLR will increase from 7.30 percent to 7.50 percent and one-month MCLR will also increase from 7.30 percent to 7.50 percent. The three-month MCLR will increase from existing 7.60 percent to 7.85 percent. "Also, the six-month MCLR will rise from 8.05 percent to 8.20 percent and one-year MCLR will rise from the existing rate of 8.15 percent to 8.35 percent," it stated.

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