Canara Bank hikes its MCLR

New Delhi: State-owned Canara Bank said in a regulatory filing on Friday that it has revised its Marginal Cost of Funds Based Lending Rate (MCLR). The bank also informed that the new rates will be applicable from March 12.

Overnight MCLR has increased from 7.55 percent to 7.9 percent. One-month MCLR increased from 7.55 percent to 8 percent. The bank hiked its three-month MCLR from 7.9 percent to 8.15 percent. The six-month MCLR was hiked from 8.3 percent to 8.4 percent. The bank increased its one-year MCLR from 8.5 percent to 8.6 percent.

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