Bank of Baroda and Canara Bank have increased their Marginal Cost of Funds Based Lending Rates (MCLR) by up to 5 basis points (bps) on select tenures. The revised MCLR rates of both banks are effective from June 12, 2026. A basis point is the one-hundredth of a percentage point.
With an increase, Bank of Baroda and Canara Bank’s loans linked to MCLR are set to become costlier as they may increase interest rates.
