Punjab National Bank has informed the Exchange about Change in Interest Rates
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Punjab National Bank has reduced its MCLR across all tenors effective September 1, 2025. The overnight rate has been cut from 8.30% to 8.00% (30 bps cut), three-month rate from 8.50% to 8.25%, six-month rate from 8.70% to 8.45%, one-year rate from 8.85% to 8.65%, and three-year rate from 9.15% to 9.10%. The Repo-linked Lending Rate remains unchanged at 8.35% and the Base Rate stays at 9.50%. This is a broad-based lending rate cut ranging from 5 to 30 basis points across the curve.
Lower lending rates may squeeze the bank's net interest margins in the short term but could support loan growth and improve credit demand from borrowers. For existing borrowers, EMIs on MCLR-linked loans may come down, providing some relief. The unchanged Base Rate and RLLR indicate a calibrated approach rather than aggressive easing.