Canara Bank Share Price in Focus; Revises MCLR Upward by 5 Basis Points Across Tenors Effective May 12, 2026

Canara Bank has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), which will take effect from May 12, 2026.  

This change impacts various loan tenors, reflecting adjustments in the bank's lending rates. 

Details of the MCLR Revision 

Effective from May 12, 2026, Canara Bank's MCLR has been revised across different tenors.  

The overnight MCLR will increase from 7.85% to 7.90%, while the 1-month MCLR will rise from 7.90% to 7.95%. For the 3-month tenor, the rate will go up from 8.15% to 8.20%. 

The 6-month MCLR will see an increment from 8.50% to 8.55%. Additionally, the 1-year MCLR will be adjusted from 8.70% to 8.75%. The 2-year and 3-year MCLR rates will also increase from 8.95% to 9.00% and from 9.00% to 9.05%, respectively. 

Impact on Borrowers 

These revisions in the MCLR will affect borrowers with loans linked to these rates. Borrowers may experience changes in their equated monthly instalments (EMIs) depending on their loan agreements and the specific MCLR tenor applicable to their loans. 

Borrowers should review their loan documents and consult with their bank representatives to understand how these changes might impact their loan repayments. It is essential to stay informed about such revisions to manage financial obligations effectively. 

Read More: Canara Bank Share Price Falls Over 3% On Q4 FY26 Earnings Results; Net Profit Down 14.1% YoY! 

Canara Bank Share Price Performance 

As of May 12, 2026, at 9:49 AM, Canara Bank share price on NSE was trading at ₹130.99 up by 1.21% from the previous closing price. 

Conclusion 

Canara Bank's revision of the MCLR rates, effective from May 12, 2026, signifies adjustments in the bank's lending strategy. Borrowers should take note of these changes and assess how they may affect their loan repayments. 

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