PNB cuts benchmark lending rate to 6.5%

NEW DELHI: State-owned Punjab National Bank on Wednesday announced a cut in its benchmark lending rate by 5 basis points to 6.50 per cent. The Repo Linked Lending Rate (RLLR) has been changed from 6.55 per cent to 6.50 per cent with effect from November 8, PNB said in a regulatory filing. With reduction in RLLR, all loans including home, car, education, 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.

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