Canara Bank hikes lending rate by 5 bps across tenors

Canara Bank has raised its marginal cost of funds-based lending rate by 5 basis points across all tenors, making consumer loans costlier. The one-year MCLR, affecting auto and personal loans, is now 9 per cent. This adjustment followed the RBI's decision to maintain its benchmark lending rate at 6.5 per cent.
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