Canara Bank raises MCLR 5 bps across tenors; Bank of Baroda holds at 8.70%
Canara Bank lifts MCLR by 5 basis points across all tenors effective 12 May 2026, with 1-year moving to 8.75% from 8.70%. Floating-rate home, auto and personal loan EMIs will rise at next reset. Bank of Baroda keeps its 1-year MCLR unchanged at 8.70%, holding the line for existing borrowers.
Canara Bank raises MCLR by 5 bps across all tenors effective 12 May 2026, lifting EMIs on floating-rate home, auto and personal loans at reset. Bank of Baroda keeps its MCLR unchanged, with 1-year at 8.70%.
Why this matters
Canara Bank's 5 bps MCLR hike pushes its one-year benchmark to 8.75%, diverging from Bank of Baroda which held at 8.70%, signaling split pricing stances among PSU lenders.
Retail-company signals steady at 110 in last 90 days.