PNB Base Rate, PNB MCLR Base Rate Past Trend

Current PNB MCLR Base Rate

Last Updated 24th Nov 2016
Tenure Base Rate, MCLR
Overnight 8.90%
1 Month 8.95%
3 Month 9.05%
6 Month 9.10%
1 Year 9.15%
3 Year 9.30%
5 Year 9.45%
Current MCLR base rate of PNB ranges from 8.90% to 9.45% depending on the reset frequency of the loan. Rates are revised every month.
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  • Home Loan Interest Rates - 9.2% * Floating Detail
    Interest Rate :
    9.2%
    Lowest EMI :
    Rs. 819 per lakh
    Tenure :
    Max 30 years
    Processing Fee :
    0.50% and Max Rs. 50,000
    Age :
    Max 60 years for salaried
    Prepayment Charges :
    Allowed with nil charges for floating rate loans
  • Loan Against Property Rates - 10.9% * Floating Detail
    Interest Rate :
    10.9%
    Lowest EMI :
    Rs. 1,372 per lakh
    Tenure :
    Max 10 years
    Processing Fee :
    0.90% and Max Rs. 45,000
    Age :
    Max 60 years for salaried
    Prepayment Charges :
    Allowed with nil charges for floating rate loans
  • Personal Loan Interest Rates - 12.25% * Detail
    Interest Rate :
    12.25% - 15.25%
    Lowest EMI :
    Rs. 2,237 per lakh
    Tenure :
    Max 60 months
    Processing Fee :
    1.8% + taxes
    Age :
    Max 58 years for salaried
    Prepayment Charges :
    is allowed after 0 EMI. Nil prepayment charges
  • Fixed Deposit Interest Rates - 4.75% to 7.00% *Detail
    30 Days :
    4.75%
    45 Days :
    4.75%
    60 Days :
    6.25%
    90 Days :
    6.25%
    120 Days :
    6.50%
    6 Months :
    6.75%
    9 Months :
    6.75%
    12 Months :
    7.00%
    18 Months :
    6.90%
    2 Year :
    6.90%
    3 Year :
    6.90%
    4 Year :
    6.90%
    5 Year :
    6.90%
    7 Year :
    6.70%
    10 Year :
    6.70%
    Last Revised Date :
    24th Nov 2016

Past Trend Base Rate of PNB

SBI base rate history
Revised Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year MCLR
2 Year MCLR
3 Year MCLR
5 Year MCLR
01st Dec 16
8.90%
8.95%
9.05%
9.10%
9.15%
-
9.30%
9.45%
01st Nov 16
9.00%
9.05%
9.15%
9.20%
9.25%
-
-
-
01st Oct 16
9.05%
9.10%
9.20%
9.25%
9.30%
-
9.45%
9.60%
01st Sep 16
9.10%
9.15%
9.25%
9.30%
9.35%
-
9.50%
9.65%
01st Aug 16
9.10%
9.15%
9.25%
9.30%
9.35%
9.50%
9.65%
-
01st Jul 16
9.15%
9.20%
9.30%
9.35%
9.40%
-
9.55%
9.70%
01st Jun 16
9.15%
9.20%
9.30%
9.35%
9.40%
-
9.55%
9.70%
01st Apr 16
9.15%
9.20%
9.30%
9.35%
9.40%
-
9.55%
-

PNB base rate Vs. RBI

  • RBI requires banks to set their own MCLR base rate based on their marginal cost of funds. So, PNB decides its own base rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR base rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. PNB has different MCLR base rates ranging from 8.90% to 9.45% for different tenures

Changes in MCLR Base rate of PNB

  • MCLR rate can be revised by PNB every month
  • Note that it is not mandatory for PNB to revise its rate every month and it may choose to retain the same rate for a longer period

PNB home loan interest rate and MCLR

  • Every floating rate loan sanctioned by PNB is benchmarked to its MCLR base rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from PNB will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of PNB will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 9.40%. This loan will initially be priced at 9.9%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 9.15%, the loan will be priced at 9.65% for the next year

Past trend of PNB Base Rate vs RBI Repo Rate

Date Base Rate
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
01st Oct 15 9.60% decreased by 0.4%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
07th May 15 10.00% decreased by 0.25%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
09th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.75%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
05th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
01st Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% increased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.00%

PNB Base Rate Vs. RBI Repo Rate Trend

About PNB

  • PNB is a Public Sector Bank in India with 6,559 branches, 8,348 ATM's and 68,290 employees across the country.
  • PNB's registered office is located at 7, Bhikhaiji Cama Place, New Delhi-110607.
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 16,556 crs. and Standalone net profit of Rs. 3,062 crs. PNB reported total deposits of Rs. 501,379 crs and total advances of Rs. 380,534 crs.
  • PNB's management is led by its CEO Ms. Usha Ananthasubramanian.
  • Highest fixed deposit interest offered by PNB is 7.00% per annum on deposits.
  • Its current Base Rate is 9.60%, which was last revised on 01st Oct 15.
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News - Dec 2016
01st Dec 16 Punjab National Bank reduces its MCLR up to 10 bps
Punjab National Bank has reduced its overnight and six months marginal cost of lending rates to 8.90 and 9.10 percent from 9 and 9.20 percent earlier. Minimum MCLR rates for one year and five year tenure are also reduced by 10 basis points to 9.15 and 9.45 percent from 9.25 and 9.50 percent respectively. New rates are effective from 1st December, 2016.
11th Nov 16 PNB to calibrate their 10,000 ATMs by the end of the month to disburse new notes
Punjab National Bank plans to adjust their 10,000 ATM machines to disburse new currency notes of Rs. 500 and Rs. 2,000 by the end of the month. The step is taken after Prime Minister announced the demonetization of Rs. 500 and Rs. 1,000 notes to remove black money from the economy.
07th Nov 16 PNB net profit falls by 11.5 percent in July to September quarter, bad loan rises
Punjab National Bank reported a decline in its net profit by 11.5 percent in July to September quarter due to rise in bad loans. The net profit fell to Rs. 549.36 crores as compared to Rs. 621.03 crores in same quarter of last year. Provision for bad loans increased by 34.6 percent to Rs. 2,534 crores from Rs. 1,882 crores in same period last year.
03rd Nov 16 Punjab National Bank organizes Grahak Sammelan in Bhopal
Punjab National Bank organized Grahak Sammelan programme under its vigilance awareness week. The awareness week is being held from 31st October, 2016 to 5th November, 2016 and aims at promote honesty and eliminate corruption by public support.
02nd Nov 16 Punjab National Bank cuts lending rates from 1st November, 2016
PNB has reduced its marginal cost based lending rates (MCLR) by 0.05 percent. The overnight and three months MCLR is reduced to 9 percent and 9.15 percent. The one year and three years MCLR is reduced to 9.25 percent and 9.40 percent. The five year MCLR is reduced to 9.55 percent respectively. The revised rates will be effective from 1st November, 2016.
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