Canara Bank MCLR Rate

Current Canara Bank MCLR rates range from 7.90% to 8.90% for different tenures w.e.f 12.03.2024. The MCLR is the minimum interest rate that the bank can charge for its loans. This rate is fixed every month by the bank.


Current MCLR Rate by Top Banks 2024

The Marginal Cost of the Fund-Based Lending Rate (MCLR) is the minimum rate of interest below which a lender cannot charge for a specific loan. The MCLR determines the lower limit of the loan interest rate. 

Following are Canara Bank MCLR Rate and the MCLR rates of top banks in India at present:

Bank NameOvernight1 Month3 Months6 Months1 Year2 Years3 Years
Canara Bank7.90%8.00%8.15%8.45%8.90%NANA
Axis Bank9.10%9.10%9.20%9.25%9.30%9.40%9.45%
Yes Bank9.30%9.55%10.10%10.35%10.50%NANA
HDFC Bank8.90%8.95%9.10%9.30%9.30%9.35%9.35%
ICICI Bank8.60%8.60%8.65%9.00%9.10%NANA
Bank of Baroda8.05%8.30%8.40%8.60%8.80%NANA
IndusInd Bank10.00%10.05%10.20%10.35%10.40%10.40%10.40%
IDFC FIRST Bank9.60%9.60%9.85%10.20%10.35%NANA
Bank of India8.10%8.35%8.45%8.65%8.85%NA9.05%
Central Bank of India8.00%8.05%8.40%8.60%8.75%NANA
Federal Bank9.45%9.50%9.55%9.65%9.70%NANA
IDBI Bank8.35%8.50%8.80%9.00%9.05%9.60%10.00%
Indian Overseas Bank8.00%8.20%8.40%8.65%8.80%8.80%8.85%
UCO Bank8.00%8.25%8.40%8.65%8.80%NANA
Kotak Bank8.65%8.90%9.05%9.30%9.45%9.50%9.60%
HSBC Bank8.55%8.70%8.85%8.95%9.00%NANA

You can also Apply for a Canara Bank Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.

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Table of Contents: Canara Bank MCLR Rate[Hide]

MCLR Rate of Canara Bank

The MCLR of Canara Bank with effect from 12th March 2024 is mentioned below:

TenureCanara Bank MCLR Rate
1 Month8.05%
3 Months8.15%
6 Months8.50%
1 Year8.90%

You can also check Canara Bank Loan Against Property Online.

Canara Bank MCLR Rate Trend

Below is the Canara Bank MCLR trend in the year 2024:

Last MCLR Updated Date TenureMCLR
1 Month8.05%
3 Months8.15%
6 Months8.50%
1 Year8.90%
1 Month8.05%
3 Months8.15%
6 Months8.50%
1 Year8.80%
1 Month8.00%
3 Months8.15%
6 Months8.45%
1 Year8.65%
1 Month8.00%
3 Months8.15%
6 Months8.45%
1 Year8.65%
1 Month7.25%
3 Months7.55%
6 Months8%
1 Year8.10%
1 Month7.05%
3 Months7.40%
6 Months7.80%
1 Year7.90%
1 Month6.80%
3 Months7.10%
6 Months7.60%
1 Year7.65%
1 Month6.75%
3 Months7.05%
6 Months7.45%
1 Year7.50%
1 Month 6.65%
3 Months6.95%
6 Months7.35%
1 Year7.40%
1 Month6.65%
3 Months6.95%
6 Months7.30%
1 Year7.35%
1 Month6.55%
3 Months6.85%
6 Months7.20%
1 Year7.25%
1 Month6.55%
3 Months6.85%
6 Months7.20%
1 Year7.25%

Canara 1 Year MCLR Rate

Currently, the ongoing one-year MCLR Canara Bank rate is 8.90% effective from Mar 12, 2024. The MCLR rates of the bank are updated every month on the 12th. Even a little change in the MCLR can significantly affect your Canara Bank Home loan interest rates. Hence, you must check the updated MCLR every month.

Following are the 1-year MCLR Canara Bank for the year 2024:

Date of UpdateTenureMCLR
12.03.20241 Year8.90%
12.01.20241 Year8.80%
12.07.20231 Year8.65%
12.05.20231 Year8.65%
07.01.20221 Year7.25%
07.02.20221 Year7.25%
07.03.20221 Year7.25%
07.04.20221 Year7.25%
07.05.20221 Year7.35%
07.06.20221 Year7.40%
07.07.20221 Year7.50%
07.08.20221 Year7.65%
07.09.20221 Year7.75%
07.10.20221 Year7.90%
07.11.20221 Year8.10%

Canara Bank MCLR Rate History

There has been a frequent change in the MCLR and RLLR of Canara Bank this year. Following is the Canara Bank MCLR history along with the Canara Bank RLLR rate history for the year 2024:

Last MCLR Updated Date MCLRRLLR
12.03.20247.95% - 8.90%9.25%
12.01.20247.95% - 8.80%9.25%
12.07.20237.90% - 8.65%9.25%
12.05.20237.90% - 8.65%9.25%
7.11.20227.25% - 8.10%8.80%
7.10.20227.05% - 7.90%8.80%
7.08.20227.80% - 7.65%8.30%
7.07.20226.75% - 7.50%7.80%
7.06.20226.65% - 7.40%7.30%
07.05.20226.65% - 7.35%7.30%
07.02.20226.55% - 7.25%6.90%
07.01.20226.55% - 7.25%6.90%

Canara Bank MCLR Rate FAQs

What is current MCLR rate?


Currently, Canara Bank MCLR ranges from 7.95% - 8.90% for different tenures.

What is the current 1-year MCLR of Canara Bank?


The current 1-year MCLR of Canara Bank is 8.80% w.e.f 12.01.2024.

What is the current Canara Bank Base Rate?


The current Canara Bank Base Rate is 8.95% w.e.f 12.01.2024.

What is Repo Linked Lending rate (RLLR) in Canara Bank?


The Repo Linked Lending rate in Canara Bank is 9.25% as of the 12th of February 2024.

What is the current MCLR rate by RBI?


The current MCLR (overnight) fixed by the RBI ranges from 7.95% - 8.90%.