Canara Bank Cuts Short-Term MCLR: Loan Interest Rates to Decrease from Today

• Canara Bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) for short-term tenors.
• The overnight MCLR decreased by 5 basis points to 7.85%, and the one-month MCLR to 7.90%.
• New rates are effective from February 12, 2026, impacting home, car, and personal loans linked to MCLR.
• Long-term MCLR rates (three-month, six-month, one-year, two-year, three-year) remain unchanged.
• This move aims to benefit borrowers amidst strong credit demand, though the reduction is modest at 0.05%.