Punjab and Sind Bank MCLR Rates, Punjab and Sind Bank Base Rate – Dec 2018

Punjab and Sind Bank MCLR Rate

5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current MCLR rate of Punjab and Sind Bank ranges from 8.00% to 9.10% varying by reset frequency of the loan. Punjab and Sind Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

Tenure wise MCLR Punjab and Sind Rate Today
Overnight 8.00%
1 Month 8.20%
3 Month 8.40%
6 Month 8.50%
1 Year 8.80%
3 Year 9.10%
Punjab and Sind Base Rate 9.70%

Punjab and Sind Bank Interest Rates

Punjab and Sind Bank Interest Rates
Home Loan Interest Rates 8.80% * Floating Detail
Loan Against Property Rates 11.30% * Floating Detail
Fixed Deposit Interest Rates 4.00% to 6.75% Detail
RD Interest Rates 6.25% to 7.00% Detail

MCLR of Punjab and Sind Bank

Punjab and Sind Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Punjab and Sind Bank as announced on 16 Oct 2018 are:

  • Overnight MCLR Rate is 8.00%. The rate was last revised on 16 Sep 2018 to 8.00% from 7.90%
  • 1 Month MCLR Rate is 8.20%. The rate was last revised on 16 Sep 2018 to 8.20% from 8.05%
  • 3 Month MCLR Rate is 8.40%. The rate was last revised on 16 Sep 2018 to 8.40% from 8.25%
  • 6 Month MCLR Rate is 8.50%. The rate was last revised on 16 Sep 2018 to 8.50% from 8.40%
  • 1 Year MCLR Rate is 8.80%. The rate was last revised on 16 Sep 2018 to 8.80% from 8.70%
  • 3 Year MCLR Rate is 9.10%. The rate was last revised on 16 Sep 2018 to 9.10% from 0.00%

Punjab and Sind Bank MCLR Rate Trend

Date Punjab and Sind Bank MCLR
16th Oct 18
Overnight : 8.00%
1 Month : 8.20%
3 Month : 8.40%
6 Month : 8.50%
1 Year : 8.80%
3 Year : 9.10%
16th Sep 18
Overnight : 8.00%
1 Month : 8.20%
3 Month : 8.40%
6 Month : 8.50%
1 Year : 8.80%
3 Year : 9.10%
16th Aug 18
Overnight : 7.90%
1 Month : 8.05%
3 Month : 8.25%
6 Month : 8.40%
1 Year : 8.70%
2 Year : 8.90%
16th Jul 18
Overnight : 7.90%
1 Month : 8.00%
3 Month : 8.20%
6 Month : 8.40%
1 Year : 8.65%
2 Year : 8.90%
16th Jun 18
Overnight : 7.90%
1 Month : 8.00%
3 Month : 8.20%
6 Month : 8.40%
1 Year : 8.60%
3 Year : 8.80%
16th May 18
Overnight : 7.90%
1 Month : 7.95%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.50%
3 Year : 8.70%
16th Apr 18
Overnight : 7.90%
1 Month : 7.95%
3 Month : 8.20%
6 Month : 8.30%
1 Year : 8.50%
3 Year : 8.70%
07th Mar 18
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.10%
1 Year : 8.40%
3 Year : 8.80%
07th Jan 18
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.10%
1 Year : 8.40%
3 Year : 8.80%
07th Dec 17
Overnight : 7.90%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.10%
1 Year : 8.40%
3 Year : 8.80%
07th Nov 17
Overnight : 8.00%
1 Month : 8.00%
3 Month : 8.10%
6 Month : 8.20%
1 Year : 8.40%
3 Year : 8.85%
07th Oct 17
Overnight : 8.00%
1 Month : 8.05%
3 Month : 8.20%
6 Month : 8.20%
1 Year : 8.45%
3 Year : 8.90%
07th Sep 17
Overnight : 8.15%
1 Month : 8.20%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.55%
3 Year : 8.90%
07th Aug 17
Overnight : 8.60%
1 Month : 8.60%
3 Month : 8.65%
6 Month : 8.70%
1 Year : 8.75%
3 Year : 8.95%
5 Year : 9.10%
07th Jul 17
Overnight : 8.60%
1 Month : 8.60%
3 Month : 8.65%
6 Month : 8.70%
1 Year : 8.75%
3 Year : 8.95%
5 Year : 9.10%
07th Jun 17
Overnight : 8.60%
1 Month : 8.60%
3 Month : 8.65%
6 Month : 8.70%
1 Year : 8.75%
3 Year : 8.95%
5 Year : 9.10%
07th May 17
Overnight : 8.60%
1 Month : 8.60%
3 Month : 8.65%
6 Month : 8.70%
1 Year : 8.75%
3 Year : 8.95%
5 Year : 9.10%
05th Apr 17
Overnight : 8.60%
1 Month : 8.60%
3 Month : 8.65%
6 Month : 8.70%
1 Year : 8.75%
3 Year : 8.95%
5 Year : 9.10%
04th Jan 17
Overnight : 8.60%
1 Month : 8.60%
3 Month : 8.65%
6 Month : 8.70%
1 Year : 8.75%
3 Year : 8.95%
5 Year : 9.10%
05th Oct 16
Overnight : 9.30%
1 Month : 9.35%
3 Month : 9.40%
6 Month : 9.50%
1 Year : 9.55%
3 Year : 9.65%
5 Year : 9.75%
04th Jul 16
Overnight : 9.20%
1 Month : 9.30%
3 Month : 9.45%
6 Month : 9.55%
1 Year : 9.60%
01st Apr 16
Overnight : 9.30%
1 Month : 9.50%
3 Month : 9.65%
6 Month : 9.65%
1 Year : 9.65%
  • Effective 1st April 2016, Punjab and Sind Bank 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. Punjab and Sind Bank MCLR rates for different tenors range from 8.00% to 9.10%.
  • 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, Punjab and Sind Bank 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, Punjab and Sind Bank 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%, Punjab and Sind may decide to cut its 1 Year 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 Punjab and Sind Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Punjab and Sind Bank.
  • MCLR rate can be revised by Punjab and Sind Bank every month. However, it is not mandatory for Punjab and Sind Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.

Punjab and Sind Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by Punjab and Sind Bank 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.
  • Your loan from Punjab and Sind Bank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. Punjab and Sind Bank home loan rate is benchmarked to 1 Year MCLR Base Rate which will be repriced after 1 Year. Say, you take a loan from Punjab and Sind at current 1 Year MCLR rate of 8.80% plus spread of 20 bps. So, the loan will initially be priced at 9%. Its next re-pricing will be done after 1 Year from now. If the 3 Month MCLR rate after 1 Year increases by 10 bps, the loan will be priced at 9.1% for the next period.

Compare MCLR Rate Movement



    Compare Punjab and Sind Bank MLCR Rates with Other Banks

    About Punjab and Sind Bank

    • Punjab and Sind Bank's registered office is located at Bank House, 21 Rajendra Place, 1st Floor New Delhi, Delhi-110008 .
    • Punjab and Sind Bank's management is led by its CEO Mr. Jatinder Bir Singh.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    Punjab and Sind News - Dec 2018
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