Awaiting price reaction for this filing.
Punjab National Bank has revised its Marginal Cost of Funds Based Lending Rates (MCLR) downward by 5 basis points across all tenors, effective 1 July 2025. Overnight MCLR falls from 8.25% to 8.20%, one-month from 8.40% to 8.35%, three-month from 8.60% to 8.55%, six-month from 8.80% to 8.75%, one-year from 8.95% to 8.90%, and three-year from 9.25% to 9.20%. The Repo Linked Lending Rate (RLLR) stays at 8.35% but its Borrower Specific Premium (BSP) component drops from 0.20% to 0.10%. The Base Rate remains unchanged at 9.50%.
Lower MCLR rates mean slightly cheaper loans for new borrowers, which is borrower-friendly. For shareholders, this routine 5 bps cut may put mild pressure on the bank's net interest margins, though it keeps PNB competitive with peers.