Punjab National Bank raises MCLR by 5 bps, increasing one-year MCLR to 8.90% and three-year MCLR to 9.20%.

Punjab National Bank (PNB) has increased its MCLR (Marginal Cost of Funds-based Lending Rate) by 5 basis points (0.05%), affecting multiple loan tenors and making consumer loans more expensive. The one-year MCLR rises to 8.90% from 8.85%, with the three-year MCLR increasing to 9.20%. New rates are effective from August 1, 2024, following similar moves by other public sector lenders.

August 01, 2024
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