Effective July 7, 2022, Canara Bank, a public sector lender, has increased its marginal cost of funds-based lending rate (MCLR) and repo-linked lending rate (RLLR) for loans/advances. one day to one year. As a result, the bank’s duration-linked MCLRs will come into effect on July 7, 2022. The bank raised its one-month overnight MCLR rate by 10 basis points to 6.75%. The 3-month MCLR rate increased by 10 basis points, from 6.95% to 7.05%, while the 6-month MCLR rate increased by 10 basis points, from 7.35% to 7 .45%. The one-year MCLR is the standard by which banks assess their home loan rates, and for that term, the bank raised the rate by 10 basis points, from 7.40% to 7.50%.