CANBK

Canara Bank on Tuesday hiked its Marginal Cost of Funds Based Lending Rate (MCLR) rate by 5 basis points (bps), effective from 12 May, according to the public sector lender's filings with the exchanges. MCLR rate benchmarks impacts banks' floating-interest rate loans across tenors for auto or car loans, home loans, personal loans; and is revised periodically in line with a bank's changing policies.