PNB Bank Customers Hit With Shock, Bank Raises Loan Rates | Paisa Live

If you have an account with PNB Bank, brace yourself for an increase in loan costs. India’s major public sector bank, PNB, has announced an increase in its Marginal Cost Based Loan Rate (MCLR). The bank has raised the MCLR by 5 basis points, or 0.05%. According to information on the bank’s website, the new PNB MCLR rates will be effective from August 1, 2024. This adjustment means that customers with loans linked to the MCLR will see a rise in their interest payments. For a comprehensive understanding of how this change might impact you, to know the full story check out the full video.