Change in Interest Rates
Awaiting price reaction for this filing.
Punjab National Bank has revised its Repo Linked Lending Rate (RLLR) downward from 8.85% to 8.35% (both inclusive of a 20 basis point BSP), effective 9 June 2025. This revision follows the Reserve Bank of India's decision to cut the Repo rate on 6 June 2025. The bank's Marginal Cost of Lending Rate (MCLR) and Base Rate remain unchanged at their existing levels. The 50 basis point cut in the benchmark rate will directly translate into lower interest costs for borrowers linked to RLLR.
Lower lending rates may marginally compress PNB's net interest margins in the short term, but should boost loan demand and support credit growth. Borrowers with RLLR-linked loans, including home and corporate loans, will benefit from reduced EMIs.