4,80,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Loans Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

PNB MCLR Rates, PNB Base Rate – Jul 2021

PNB MCLR Rate

Last Updated 15th Jul 2021

Current MCLR rate of PNB ranges from 6.65% to 7.60% varying by reset frequency of the loan. PNB revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenors.

Tenure wise MCLR PNB Rate Today
Overnight 6.65%
1 Month 6.70%
3 Month 6.80%
6 Month 7.00%
1 Year 7.30%
3 Year 7.60%
PNB Base Rate 8.65%
Apply for Home Loan @ 6.65% *

PNB Interest Rates

PNB offers the following loans to its customer on these rates currently:

Home Loan Interest Rates 7.35% * Floating Detail
Loan Against Property Rates 9.50% * Floating Detail
Personal Loan Interest Rates 8.95% to 14.50% Detail
Car Loan Interest Rates 7.55% to 7.80% Detail
Business Loan Interest Rates 12.65% to 15.65% Detail
Gold Loan Interest Rates 8.75% to 9.00% Detail
Fixed Deposit Interest Rates 3.00% to 5.25% Detail
Saving Account Interest Rates 3.00% to 3.00% Detail
RD Interest Rates 4.40% to 5.30% Detail

MCLR of PNB

PNB revises its MCLR rate on a monthly basis. Latest MCLR rates of PNB as announced on 01 Jul 2021 are:

  • Overnight MCLR Rate is 6.65%.
  • 1 Month MCLR Rate is 6.70%.
  • 3 Month MCLR Rate is 6.80%.
  • 6 Month MCLR Rate is 7.00%.
  • 1 Year MCLR Rate is 7.30%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 7.60%.
  • 5 Year MCLR Rate is 0.00%.

PNB MCLR Rate Trend

Date PNB MCLR
01st Jul 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.80%
6 Month : 7.00%
1 Year : 7.30%
3 Year : 7.60%
01st Jun 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.80%
6 Month : 7.00%
1 Year : 7.30%
3 Year : 7.60%
01st May 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.90%
6 Month : 7.10%
1 Year : 7.35%
2 Year : 7.60%
01st Apr 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.90%
6 Month : 7.10%
1 Year : 7.35%
2 Year : 7.60%
01st Mar 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.90%
6 Month : 7.10%
1 Year : 7.35%
2 Year : 7.60%
01st Feb 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.90%
6 Month : 7.10%
1 Year : 7.35%
3 Year : 7.60%
01st Jan 21 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.90%
6 Month : 7.10%
1 Year : 7.35%
2 Year : 7.60%
01st Dec 20 Overnight : 6.65%
1 Month : 6.70%
3 Month : 6.90%
6 Month : 7.10%
1 Year : 7.35%
2 Year : 7.60%
01st Oct 20 Overnight : 6.80%
1 Month : 6.80%
3 Month : 6.95%
6 Month : 7.15%
1 Year : 7.35%
3 Year : 7.60%
01st Oct 20 Overnight : 6.80%
1 Month : 6.80%
3 Month : 6.95%
6 Month : 7.15%
1 Year : 7.35%
3 Year : 7.60%
01st Sep 20 Overnight : 6.80%
1 Month : 6.80%
3 Month : 6.95%
6 Month : 7.15%
1 Year : 7.35%
3 Year : 7.60%
01st Aug 20 Overnight : 6.80%
1 Month : 6.80%
3 Month : 6.95%
6 Month : 7.15%
1 Year : 7.35%
3 Year : 7.60%
  • Effective 1st April 2016, PNB has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. PNB MCLR rates for different tenors range from 6.65% to 7.60%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, PNB decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, PNB may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, PNB may decide to cut its MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of PNB with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from PNB.
  • MCLR rate can be revised by PNB every month. However, 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 keeping them unchanged.
  • As per the latest regulations given by RBI, with effect from April 1, 2019, all floating interest rates on retail loans are to be linked to external benchmark lending rates. These could be the RBI's repo rate, three-month treasury bill yield, six-month treasury bill yield or other benchmark rate published by the Financial Benchmarks India Pvt Ltd.This was done in view to promote the easier transmission of reduced interest rates to customers, which was not well done when rates were linked to MCLR.

PNB Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by PNB is benchmarked to its MCLR Rate for a particular tenure, say 1 month or 3 month or 6 months.
  • Shorter duration loans such as cash credit, OD facility, personal loans are linked to short tenure 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.

Compare PNB MCLR Rates with Other Banks

About PNB

  • PNB's registered office is located at 7, Bhikhaiji Cama Place, New Delhi-110607.
  • PNB's management is led by its CEO Ms. S. S. Mallikarjuna Rao.
  • Its current Base Rate is 8.65%, which was last revised on 01st Dec 20.

FAQs

What is the MCLR of PNB?

PNB MCLR ranges between 6.65% to 7.60% for a tenure ranging between 1 month to 5 years.

What is the current PNB MCLR rate?

Current PNB, overnight tenure is 6.65%, 1 month mclr is 6.70% , three month mclr is 6.80%, six month mclr is 7.00%, one year tenure is 7.30% and two year tenure is 0.00%.

What is PNB base rate?

Currently, PNB offers loans at a base rate of 8.65%.


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
PNB News - Jul 2021
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
  • 2021-06-11 : MCLR rates revised for PNB from June 1
    The MCLR of PNB has been reduced by 0.05%. The revised rate is 7.30% and the new rates will be effective from June 01, 2021. The six-month and three-month tenor MCLRs were cut by 0.10% each to 7% and 6.80%, respectively. The overnight, one-month and three-year MCLRs have been kept unchanged at 6.65%, 6.70% and 7.60% respectively.
  • 2021-06-01 : Change in MCLR rates for PNB
    PNB has reduced the 1-year Marginal Cost of Funds Based Lending Rate (MCLR) by 0.05% to 7.30%. The revised MCLR rates came into effect from June 1, 2021. The bank has reduced the six-month MCLR to 7% while the one-year MCLR has been reduced to 7.30%. The three-year MCLR stands at 7.60% while the overnight MCLR is 6.65%. The one-month MCLR is 6.70% and the three-month MCLR is 6.80%.
  • 2021-04-12 : Punjab National Bank kept its MCLR unchanged
    Punjab National Bank kept its MCLR unchanged for the month of April. The overnight and one-month MCLR is 6.65% and 6.70%. The three months and six months, MCLR stands at 6.90% and 7.10%, respectively. Further, the rate for one year and three years stands at 7.35% and 7.60%, respectively.
  • 2021-02-04 : Revised MCLR for Punjab National Bank
    Punjab National Bank revised its MCLR with effect from 1 February 2021. The overnight and one-month MCLR is 6.65% and 6.70%. The three months and six months, MCLR stands at 6.90% and 7.10%, respectively. Further, the interest rate for one year and three years stands at 7.35% and 7.60%, respectively.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...