Punjab National Bank has informed the Exchange about review of interest rates
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Punjab National Bank has informed the exchanges that its Marginal Cost of Funds Based Lending Rates (MCLR) will remain unchanged when they take effect from June 1, 2026. The bank maintained rates across all tenors: Overnight at 7.95%, One Month at 8.20%, Three Month at 8.40%, Six Month at 8.60%, and One Year at 8.75%. A new Three Years tenor has been added at 9.05%. Additionally, the Repo Linked Lending Rate stays at 8.10% and the Base Rate at 9.50%.
The unchanged MCLR rates indicate stable lending costs for the bank, which could be neutral for net interest margins. The addition of a three-year tenor provides more granularity in the bank's lending rate structure.