PNB REDUCES ITS OVERNIGHT MCLR TO 8.05% W.E.F 1ST MAY ,2017
Reduction in Marginal Cost of Funds Based Lending Rate (MCLR)
Punjab National Bank has reduced its Overnight MCLR to 8.05% w.e.f. 01.05.2017 as per detail given hereunder:-
| MCLR TENOR | Existing | Revised w.e.f. 01.05.17 |
| Overnight | 8.20% | 8.05% |
| One month | 8.25% | 8.15% |
| Three month | 8.35% | 8.25% |
| Six month | 8.40% | 8.30% |
| One year | 8.45% | 8.35% |
| Three years | 8.60% | 8.50% |
| Five years | 8.75% | 8.65% |
Reduction in interest rates on Domestic retail term deposits:
Punjab National Bank has reduced interest rates on Domestic Retail term deposits of less than Rs. 1 crore by 10-25 bps in different maturity buckets w.e.f. 03.05.2017.