Canara Bank Revises MCLR Across All Tenors Effective May 12, 2026
Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all seven tenors, effective May 12, 2026, with each tenor seeing an upward revision of 5 basis points. The One Year MCLR, a key benchmark for retail lending, has been revised from 8.70% to 8.75%. The Three Year MCLR now stands at 9.05%, up from 9.00%. The revision was disclosed to stock exchanges under Regulation 30 by Company Secretary Santosh Kumar Barik on May 11, 2026.

*this image is generated using AI for illustrative purposes only.
Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenors, effective May 12, 2026. The bank communicated this development to the stock exchanges through a regulatory filing dated May 11, 2026, signed by Company Secretary Santosh Kumar Barik.
Revised MCLR Rates Effective May 12, 2026
The updated MCLR schedule reflects an upward revision across all seven tenors. The following table outlines the existing rates alongside the revised rates:
| Tenor: | Existing Rate (%) | Rate w.e.f. 12.05.2026 (%) |
|---|---|---|
| Overnight MCLR | 7.85 | 7.90 |
| One Month MCLR | 7.90 | 7.95 |
| Three Month MCLR | 8.15 | 8.20 |
| Six Month MCLR | 8.50 | 8.55 |
| One Year MCLR | 8.70 | 8.75 |
| Two Year MCLR | 8.95 | 9.00 |
| Three Year MCLR | 9.00 | 9.05 |
Key Highlights of the Revision
- All seven MCLR tenors have been revised upward by 5 basis points each.
- The Overnight MCLR moves from 7.85% to 7.90%.
- The One Year MCLR, a widely referenced benchmark for retail loans, increases from 8.70% to 8.75%.
- The Three Year MCLR rises from 9.00% to 9.05%.
- The revised rates are applicable with effect from May 12, 2026.
Regulatory Communication
The revision was disclosed under Regulation 30 and communicated to both BSE Ltd. and the National Stock Exchange of India Ltd. by Canara Bank's Secretarial Department, headquartered at 112 J C Road, Bengaluru - 560002. The filing was digitally signed by Company Secretary Santosh Kumar Barik on May 11, 2026.
Historical Stock Returns for Canara Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.58% | -3.76% | -7.77% | -9.97% | +28.16% | +324.64% |
How might Canara Bank's 5 basis point MCLR hike influence other public sector banks to revise their lending rates in the near term?
What impact will the increased One Year MCLR of 8.75% have on Canara Bank's retail loan disbursements and home loan demand going forward?
Could this MCLR revision signal a broader shift in the Indian banking sector's interest rate cycle, contradicting expectations of RBI rate cuts in 2026?


































