The Economic Times

Canara Bank, Bank of Baroda increase lending rates: Why loan EMIs for these borrowers may rise after hikes

Bank of Baroda and Canara Bank have raised their lending rates. These banks increased their Marginal Cost of Funds Based Lending Rates by up to ten basis points. The revised rates for both banks become effective from August 12, 2026. Borrowers with loans linked to MCLR may see their interest payments rise. This decision follows the Reserve Bank of India's recent repo rate maintenance.