Punjab National Bank revises marginal cost of funds lending rate

Punjab National Bank (PNB) has announced a revision in its Marginal Cost of Funds Based Lending Rate (MCLR), effective May 1, 2025. The changes impact various tenors, with the overnight MCLR decreasing from 8.40% to 8.25%. The one-month tenor sees a decrease from 8.50% to 8.40%, while the three-month tenor is adjusted from 8.70% to 8.60%. The six-month tenor will be reduced from 8.90% to 8.80%, and the one-year tenor decreases from 9.05% to 8.95%. The three-year tenor experiences a reduction from 9.35% to 9.25%. PNB clarified that there would be no changes in RLLR, remaining at 8.85% (including BSP of 20bps) and its base rate of 9.50%.