PNB cuts home loan rate to 6.50%, launches special Diwali offer

Punjab National Bank has slashed its benchmark lending rate by 5 basis points to 6.50 per cent. 

New Delhi: State-owned Punjab National Bank on Wednesday announced cutting its benchmark lending rate by 5 basis points to 6.50 per cent. The Repo Linked Lending Rate (RLLR) has been reduced from 6.55 per cent to 6.50 per cent with effect from November 8, PNB said in a regulatory filing.

As part of continued efforts to enhance customer service, PNB also launched a range of deals and offers on its retail loans this festive season.

With reduction in RLLR, all loans including home, car, education and personal loans would become cheaper. The bank had last cut its RLLR on September 17 from 6.80 per cent to 6.55 per cent.