Consistency is Key: Canara Bank's MCLR Stays at 9.10%

Canara Bank has said its one-year Marginal Cost of Funds Based Lending Rate, or MCLR, stands firm at 9.10%. This is in effect from the date of February 12, 2025. Other MCLR tenor has witnessed marginal changes, wherein the one-month MCLR fell by 10 basis points. The move was a reflection of general market practices where some institutions raised rates but others preferred cut rates. This one-year MCLR stability will keep borrowers with loans that are pegged to this period having consistent costs of borrowing. 

 

Source: Business Standard, CNBC TV18