PNB cuts PLR by 50 bps to 11 pc

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Punjab National Bank
New Delhi, Apr 30: Punjab National Bank (PNB), India's second-largest public sector lender on Thursday, Apr 30 cut the benchmark lending rate PLR (Prime Lending Rate) by 50 basis points to 11 pc. This initiative from PNB will benefit thousands of home, consumer and corporate loan borrowers.

The bak said in a statement, "The Benchmark Prime Lending Rate (BPLR) has been slashed from 11.5 per cent to 11 per cent effective from Friday, Apr 30."

PNB has slashed interest rates on personal loan by 50 bps and floating home loan would become cheaper by 25 bps.

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