Punjab National Bank (PNB) has announced an update to its Marginal Cost of Funds Based Lending Rates (MCLR), effective from September 1, 2026. While rates for overnight, one-month, six-month, and one-year tenors remain unchanged, the three-month MCLR has seen a minor increase. The Repo Linked Lending Rate (RLLR) and Base Rate remain steady. This adjustment impacts the cost of borrowing for various loans offered by the bank.
PNB Announces MCLR Revisions
Punjab National Bank (PNB) has issued a notification regarding the revision of its Marginal Cost of Funds Based Lending Rates (MCLR). These revised rates will be effective from September 1, 2026. This announcement is of significance to borrowers as it directly influences the interest rates on various loan products offered by the bank.
Key Rate Changes
The following MCLR tenors have been updated:
- Overnight: 8.00% (Unchanged)
- One Month: 8.25% (Unchanged)
- Three Month: 8.50% (Increased from 8.45%)
- Six Month: 8.65% (Unchanged)
- One Year: 8.80% (Unchanged)
- Three Years: 9.10% (Unchanged)
Other Rates Remain Steady
In addition to the MCLR changes, PNB has confirmed that the Repo Linked Lending Rate (RLLR) will remain at 8.10%, which includes a 0.35% Banking Social Premium (BSP). The Base Rate is also unchanged at 9.50%. These stable rates for RLLR and Base Rate indicate a consistent approach to certain lending benchmarks.
Source: BSE
