Taking a loan from this bank became expensive, and MCLR rates have been increased, know what are the interest rates now
Taking a loan from this bank became expensive, and MCLR rates have been increased, know what are the interest rates now
Punjab National Bank (PNB) increased its Marginal Cost of Funds Based Lending Rates (MCLR) by up to 5 basis points on Friday, May 31. The increase is different for different periods.
Punjab National Bank (PNB) increased its Marginal Cost of Funds Based Lending Rates (MCLR) by up to 5 basis points on Friday, May 31. The increase is different for different periods. The bank has changed the MCLR rates for a period of 3 months to 3 years. The new rates have become effective from June 1, 2024.
Punjab National Bank has kept the rates for some periods as before and has not made any changes to it. For example, there has been no change in the overnight MCLR and it is 8.25 percent like the previous rate. Similarly, the bank has kept the MCLR rate stable at 8.30 percent for 1 month and has not made any change.
However, there has been some increase in the MCLR rates for more than 1 month. The MCLR for 3 months has been revised to 8.50 percent, this rate was 8.45 percent earlier. Similarly, the rate of 6 months MCLR has also been increased from 8.65 percent to 8.70 percent.
Similarly, the rate for 1 year has been increased from 8.80 percent to 8.85 percent. At the same time, the MCLR rate for 3 years has been increased from 9.10 percent to 9.15 percent. Due to the increase in the rate for these periods, now if you take a loan for this period from Punjab National Bank, then it will cost you a little more than before.
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