According to a regulatory filing, Canara Bank has also increased its Marginal Cost of Funds based Lending Rate (MCLR), in line with the RBI repo rate hike.
This has led to a hike of 0.5 per cent to 0.15 per cent on borrowings with different tenors. For overnight and one month, it has been increased to 7.55 per cent, while it has been hiked to 7.90 per cent and 8.30 per cent for three and six month tenures respectively.
For the one year tenure, the MCLR has been scaled up by 0.15 per cent to 8.50 per cent. While the repo linked lending rate has been increased to 9.40%.
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