PNB Increases MCLR Rates Effective July 1, 2026
Punjab National Bank will increase its MCLR rates effective July 1, 2026. Overnight MCLR rises to 8.00%, three-month to 8.25%, six-month to 8.45%, and one-year to 8.65%. RLLR and Base Rate remain unchanged.
Changes in MCLR directly affect the borrowing costs for customers, which can influence loan demand and the bank's net interest margin. This is a material operational change for a bank.
The announcement details an increase in lending rates, which is a standard operational adjustment for banks. It does not contain information that would significantly benefit or harm the bank's financial standing in a way that warrants a positive or negative sentiment.
Punjab National Bank (PNB) has announced a review of its interest rates, with changes to its Marginal Cost of Funds Based Lending Rates (MCLR) effective from July 1, 2026. The MCLR for overnight tenor will increase to 8.00% from the previous rate of 7.95%. Similarly, the three-month MCLR will be revised to 8.25% from 8.20%, and the six-month MCLR will move to 8.45% from 8.40%. The MCLR for the one-year tenor will be 8.65%, up from 8.60%.
Furthermore, the bank has stated that the Repo Linked Lending Rate (RLLFR), which includes a BSP of 0.35%, will remain unchanged at 8.10%. The Base Rate will also remain static at 9.50%.
These revised rates will be implemented starting July 1, 2026. The announcement was made by Bikramjit Shorn, Company Secretary.
What to do with a filing like this
Punjab National Bank filed this with the NSE as a statutory disclosure, categorised under interest rates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Punjab National Bank. Read the original for the full detail.