New Delhi: State-owned Punjab National Bank on Wednesday announced the cutting of its main loan interest rate by 5 basis points to 6.50 percent.
Repo Linked Lending Rate (RLLR) has been changed from 6.55 percent to 6.50 percent with the effect of November 8, PNB said in the submission of regulations.
With a reduction in RLLR, all loans including homes, cars, education, personal loans will be cheaper.
The last bank cut RLLR on September 17 from 6.80 percent to 6.55 percent.
PNB cut the benchmark loan interest rate to 6.5%
