{
  "id": 648022,
  "title": "Canara Bank & Bank Of Baroda Hike Lending Rates, Will Your Loan EMI Increase Now?",
  "url": "https://urgent.news/2026/08/12/canara-bank-bank-of-baroda-hike-lending-rates-will-your-loan-emi",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-12T08:10:55.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/canara-bank-bank-of-baroda-hike-lending-rates-will-your-loan-emi-increase-now"
  },
  "original_language": "en",
  "account": "Mumbai - Canara Bank and Bank of Baroda have recently increased their lending rates, which could lead to higher Equated Monthly Instalments (EMIs) for certain borrowers. The changes took effect on August 12, 2026, following the Reserve Bank of India's decision to keep the repo rate steady at 5.25 percent in its August 5 monetary policy meeting.\n\nThese revised rates primarily impact individuals who have home, vehicle, personal or other loans tied to Marginal Cost of Funds Based Lending Rates (MCLR). If the lending rate goes up on the next reset date, as stipulated in their loan agreement, borrowers may witness an increase in their monthly EMI. In some instances, banks might maintain the EMI the same but extend the repayment tenure.\n\nCanara Bank has raised its MCLR by five basis points across most tenures, with its overnight rate remaining unchanged at 7.95 percent. Bank of Baroda has only increased its three-month MCLR by ten basis points, from 8.20 percent to 8.30 percent, while its overnight rate is still at 7.85 percent. The one-month, six-month, and one-year rates remain unchanged at 7.95 percent, 8.50 percent, and 8.75 percent, respectively.",
  "summary": "Mumbai: Canara Bank and Bank of Baroda have raised their Marginal Cost of Funds Based Lending Rates (MCLR) on select tenures, potentially making loans costlier for some borrowers. The revised rates took effect on August 12, 2026. The hikes come just a week after the Reserve Bank of India kept the repo rate unchanged at 5.25 percent at its August 5 monetary policy meeting. Who Is Affected? The…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}