https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

PNB Slashes Repo-Linked Lending Rate to 8.35%; Home and Vehicle Loans Get Cheaper

The move is set to lower Equated Monthly Installments (EMIs) significantly, especially for home and vehicle loans
Indian Masterminds Stories

In a major relief to borrowers, state-owned Punjab National Bank (PNB) has announced a reduction in its Repo Linked Lending Rate (RLLR) from 8.85% to 8.35% following the Reserve Bank of India’s decision to cut the repo rate by 50 basis points to 5.5% on June 6, 2025.

Also Read: SBI and Indian Bank Announce Key Changes in Senior Management – Check All Postings

The move is set to lower Equated Monthly Installments (EMIs) significantly, especially for home and vehicle loans. Borrowers may see their EMIs drop by over Rs. 1,500 per month, providing substantial financial relief to households and further improving affordability in the housing sector.

According to PNB’s filing with the stock exchanges, the revised RLLR — which includes a Business Strategy Premium (BSP) of 20 basis points — will come into effect from June 9, 2025. However, the bank clarified that its Marginal Cost of Lending Rate (MCLR) and Base Rate will remain unchanged for now.

With this revision, PNB’s home loans now start from 7.45% per annum, while vehicle loans are available at interest rates beginning from 7.80% per annum. Personal loans and MSME loan products linked to the RLLR will also benefit from the lower benchmark rate.

The bank’s latest rate cut is expected to boost credit uptake among salaried individuals, first-time homebuyers, and small businesses, while also injecting positive momentum into the real estate and automobile sectors.

Financial experts anticipate that this move will not only ease the burden on existing borrowers but also encourage new lending, helping accelerate broader economic growth.

Punjab National Bank

Punjab National Bank (PNB) is India’s second-largest public sector bank, offering a wide range of financial services across retail, corporate, and international banking. Established in 1894, PNB plays a pivotal role in the country’s banking landscape with a strong nationwide presence.

Also Read: Siddhartha Mohanty Completes Tenure as CEO & MD of LIC of India – Know More About Him


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Coal India Limited_CIL_logo_resized
Coal India to Invest ₹1,067 Crore in Talcher Fertilizers; First Coal Gasification Urea Plant Progresses
Reserve-Bank-of-India_RBI_resized
RBI Bolsters AePS Onboarding Rules Aligned with KYC to Boost Security
Indian Forest Services IFS officer
23 State Forest Officers Transferred in Uttar Pradesh; 20 Appointed as In-Charge DFOs
Union Minister Bhupendra yadav
No Immediate Plan to Regulate AC Temperatures: Environment Minister Bhupendra Yadav Clarifies, Says 20–28°C Cap May Be Considered Only After 2050
Punya Salila Srivastava IAS
IAS Punya Salila Srivastava Gets Additional Charge of Health Research; IRS Pankaj Bodkhe Repatriated from KVIC
education
Gujarat Achieves 100% Textbook Distribution Before Academic Year: Over 6 Crore Books Delivered
Punjab_govt_resized
Punjab: 8 IAS & 9 PCS Transferred, Amandeep Kaur-II Posted as Addl Deputy Commissioner, Amritsar
Bihar’s Makhana
Desi Makhana Goes Global: From IIT Dreams to Entrepreneurial Reality in Bihar, as Makhana from Bihar Gains International Recognition
ADVERTISEMENT
ADVERTISEMENT
Videos
Ex IRS C Rajendiran
Ex-IRS Officer C. Rajendiran Illuminates Thirukkural’s Timeless Wisdom in Exclusive Interview
WhatsApp Image 2025-06-25 at 5.07
Why Has the DGCA Fined Air India Rs 5 Crore Since Privatisation?
Former Diplomat Ashok Sajjanhar
Iran Is Weakest Now, Needs a Face-Saver
ADVERTISEMENT
UPSC Stories
Sanish Kumar Singh
“If you want it badly enough, you’ll find a way,” Sanish Kumar Singh AIR 8, UPSC IFS 2024 
The real interview, he says, was much more humane. “The board was conversational. The chairman opened...
Raju Wagh
When the Battlefield Became a Study Room and a Dream Took Flight
Amid IED blasts and anti-Maoist operations in Bastar, CRPF Commando Raju Wagh taught village kids, studied...
WhatsApp Image 2025-06-18 at 10.31
"I Just Wanted to Breathe Again": The Man Who Fought Death and Made It to UPSC
Struck by COVID at the peak of his UPSC prep, Devanand Telgote spent months on ECMO, unsure he'd live,...
Social Media
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
Responding to Viral Post on Middle-Class Struggles, Ex-Bureaucrat Offers Candid Reflection on Then and...
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Coal India Limited_CIL_logo_resized
Coal India to Invest ₹1,067 Crore in Talcher Fertilizers; First Coal Gasification Urea Plant Progresses
Reserve-Bank-of-India_RBI_resized
RBI Bolsters AePS Onboarding Rules Aligned with KYC to Boost Security
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Ex IRS C Rajendiran
WhatsApp Image 2025-06-25 at 5.07
Former Diplomat Ashok Sajjanhar
ADVERTISEMENT
ADVERTISEMENT