Punjab National Bank — Important, 30-11-2024: Updates

The Marginal Cost of Funds Based Lending Rate (MCLR) will increase from 01.12.2024 across various tenors. The overnight rate rises from 8.30% to 8.35%, the one-month rate from 8.40% to 8.45%, the three-month rate from 8.60% to 8.65%, and the six-month rate from 8.80% to 8.85%. The one-year MCLR will move from 8.95% to 9.00%, while the three-year rate will increase from 9.25% to 9.30%. This adjustment signifies a broader trend in interest rate movements and could impact borrowing costs for customers. Investors should watch closely for potential shifts in demand and lending volumes as a result.