Punjab National Bank (PNB) has revised its Marginal Cost of Funds-Based Lending Rates (MCLR), increasing interest rates across all six tenures by 10 basis points, effective November 1, 2026, according to a BSE filing.
Following the revision, PNB's MCLR rates now range from 8.10% to 9.20%, compared with the earlier range of 8.00% to 9.10%.
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MCLR is the minimum lending rate below which banks generally cannot offer loans, subject to regulatory exceptions. It serves as a benchmark for pricing several floating-rate loans, including certain home, personal and business loans.
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Check Latest Punjab National Bank MCLR Rates
PNB has increased its overnight MCLR to 8.10% from 8.00%. The one-month lending rate has been revised to 8.35% from 8.25%, while the three-month MCLR has increased to 8.60% from 8.50%.
Similarly, the six-month MCLR now stands at 8.75%, compared with 8.65% earlier. The one-year rate has been raised to 8.90% from 8.80%, while the three-year MCLR has increased to 9.20% from 9.10%.
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Check PNB Repo-Linked Lending Rate (RLLR)
PNB's Repo-Linked Lending Rate (RLLR), including a Benchmark Spread of 0.35%, remains unchanged at 8.35%.
Check Punjab National Bank Base Rate
The bank has kept its base rate unchanged at 9.50%. The latest revision is limited to MCLR-linked lending rates, while the RLLR and base rate remain unchanged.
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The increase may raise borrowing costs for customers with MCLR-linked floating-rate loans when their interest rates reset. However, the actual impact will depend on individual loan agreements, applicable reset dates and outstanding loan balances.
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