Canara Bank raises MCLR by 10 basis points to 7.50% with effect from July 7

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has raised the marginal cost of funds based lending rate by 10 basis points across tenors with effect from Thursday.

The benchmark one-year MCLR, against which most of the such as auto, personal and home are priced, has been raised to 7.50 per cent with effect from July 7, the bank said in a regulatory filing.

The existing one-year MCLR is 7.40 per cent.

Among other MCLRs from overnight to six-month tenors, the new rates will be in the range of 6.75-7.45 per cent.

The Repo Linked Lending Rate (RLLR) of the bank will be raised to 7.80 per cent from 7.30 per cent. This will also be effective from July 7.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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