MCLR Rate by Top Banks
The Marginal Cost of the Fund-Based Lending Rate (MCLR) is the minimum rate of interest that a bank or financial institution can charge on its loans. MCLR determines the lowest limit of the loan interest rate.
Following are current PNB MCLR Rate and MCLR rates of other top banks in India:
| Bank Name | Overnight | 1 Month | 3 Months | 6 Months | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|---|---|
| PNB | 8.25% | 8.40% | 8.60% | 8.80% | 8.95% | NA | 9.25% |
| Canara Bank | 8.25% | 8.35% | 8.45% | 8.80% | 9.00% | 9.30% | 9.40 |
| Axis Bank | 9.15% | 9.15% | 9.25% | 9.30% | 9.35% | 9.45% | 9.50% |
| Yes Bank | 9.10% | 9.45% | 10.10% | 10.35% | 10.50% | NA | NA |
| HDFC Bank | 9.05% | 9.10% | 9.20% | 9.35% | 9.40% | 9.40% | 9.40% |
| ICICI Bank | 8.60% | 8.60% | 8.65% | 9.00% | 9.10% | NA | NA |
| SBI | 8.20% | 8.45% | 8.50% | 8.85% | 8.95% | 9.05% | 9.10% |
| PSB | 8.20% | 8.45% | 8.55% | 8.85% | 9.10% | NA | NA |
| Citibank | 6.65% | 6.90% | 6.95% | 7.00% | 6.95% | NA | NA |
| Bank of Baroda | 8.15% | 8.35% | 8.50% | 8.75% | 8.95% | NA | NA |
| IndusInd Bank | 10.20% | 10.25% | 10.40% | 10.55% | 10.55% | 10.55% | 10.55% |
| IDFC FIRST Bank | 10.20% | 10.20% | 10.40% | 10.60% | 10.70% | NA | NA |
| Bank of India | 8.15% | 8.40% | 8.55% | 8.75% | 8.95% | NA | 9.10% |
| Central Bank of India | 8.10% | 8.15% | 8.50% | 8.70% | 8.85% | NA | NA |
| Federal Bank | 9.45% | 9.50% | 9.55% | 9.65% | 9.70% | NA | NA |
| IDBI Bank | 8.40% | 8.55% | 8.85% | 9.10% | 9.15% | 9.70% | 10.10% |
| Indian Overseas Bank | 8.20% | 8.45% | 8.60% | 8.85% | 8.95% | 9.00% | 9.15% |
| UCO Bank | 8.20% | 8.35% | 8.50% | 8.80% | 8.95% | NA | NA |
| Kotak Bank | 8.75% | 9.00% | 9.15% | 9.40% | 9.55% | 9.55% | 9.65% |
| HSBC Bank | 8.30% | 8.45% | 8.60% | 8.70% | 8.75% | NA | NA |
Current PNB MCLR Rate 2025
Current PNB Bank MCLR rates with effect from 1st May 2025 are mentioned below:
| Tenure | PNB MCLR Rate |
|---|---|
| Overnight | 8.25% |
| 1 Month | 8.40% |
| 3 Months | 8.60% |
| 6 Months | 8.80% |
| 1 Year | 8.95% |
| 3 Years | 9.25% |
You can also check PNB Loan Against Property Online.
MCLR Rate of PNB
PNB Bank MCLR ranges from 8.25% - 9.25% for different tenures with effect from 1st May 2025. Punjab National Bank has different MCLR rates for overnight, 1 month, 3 months, 6 months, 1 year and 3 years tenure. These rates are valid till the next monthly update by the bank.
Punjab National Bank (PNB) is a reputed public sector bank in India that offers an extensive range of lending as well as banking products and services. A revision in MCLR by PNB may impact the interest rates on MCLR-linked lending products offered by the bank. PNB MCLR Rate is the minimum rate of interest below which the bank cannot charge an interest rate for a specific loan product.
PNB revises its MCLR rate every month. Below are the current PNB MCLR rates w.e.f 01.05.2025:
Overnight: 8.25%
1 Month: 8.40%
3 Months: 8.60%
6 Months: 8.80%
1 Year: 8.95%
3 Years: 9.25%
PNB Home Loan Interest Rate & MCLR
PNB links its home loan interest rates to its Repo Linked Lending Rate (RLLR) now and not to Punjab National Bank MCLR rate. Following are the latest PNB home loan interest rates linked to the RLLR of the bank, which is 9.15% w.e.f. 09.07.2024:
| Loan Amount & LTV | CIC Score | Rate of Interest (p.a.) |
|---|---|---|
| (For Digital/Non-Digital Fresh/Takeover Home Loans Leads - Salaried & Non-Salaried Customers | ||
| Loan amount above Rs. 30 Lakhs & LTV Ratio <= 80% | 800 & above | 8.40% |
Irrespective of Loan Amount & LTV Ratio <=80% | PNB Pride | 8.45% |
| 750 & 799 | ||
| 700 - 749 | 8.90% | |
| 600 - 699 | 10.00% | |
Up to 30 Lakhs & LTV Ratio above 80% but up to 90% | PNB Pride | 8.55% |
| 750 & above | ||
| 700 - 749 | 9.00% | |
| 600 - 699 | 10.10% | |
PNB 1 Year MCLR Rate
Currently, Punjab National Bank MCLR rate for 1 year is 8.95% effective from 1st May 2025. This rate will be valid till the next review by the bank. PNB revises its 1-year MCLR rate every month on the 1st. Even a little change in the MCLR rate may impact your MCLR-linked loan interest rates significantly.
Hence, make sure you keep tracking the updated MCLR rates of the bank every month. A change in MCLR can have an impact on your loan Equated Monthly Instalments (EMIs) as well.
PNB Bank MCLR Rate History
There has been a significant change in the MCLR rates of PNB this year. Following is the Punjab National Bank MCLR history for the year 2025:
| Last MCLR Updated Date | MCLR |
|---|---|
| 01.05.2025 | 8.25% - 9.25% |
| 01.08.2024 | 8.30% - 9.20% |
| 01.07.2024 | 8.25% - 9.15% |
| 01.03.2024 | 8.30% - 9.10% |
| 01.01.2024 | 8.25% - 9.00% |
| 01.08.2023 | 8.10% - 8.90% |
| 01.06.2023 | 8.10% - 8.90% |
| 01.04.2023 | 8.00% - 8.80% |
| 01.11.2022 | 7.40% - 8.35% |
| 01.10.2022 | 7.10% - 8.05% |
| 01.09.2022 | 7.05% - 8% |
| 01.08.2022 | 7% - 7.95% |
| 01.07.2022 | 6.90% - 7.85% |
| 01.06.2022 | 6.75% - 7.70% |
| 01.05.2022 | 6.60% - 7.55% |
| 01.04.2022 | 6.60% - 7.55% |
| 01.03.2022 | 6.60% - 7.55% |
| 01.02.2022 | 6.60% - 7.55% |
| 01.01.2022 | 6.60% - 7.55% |
PNB MCLR Rate FAQs
MCLR of PNB varies from 8.25% - 9.25% for different tenures since 1st May 2025.
To switch from PNB Base Rate to PNB MCLR Rate, you will be required to send a written application to Punjab National Bank so that they may commence the linking process for your home loan and MCLR.
As of date, the Repo Linked Lending Rate or RLLR of PNB 2024 is 9.00% w.e.f.
1-month MCLR Rate of PNB is 8.35%
The MCLR rate of PNB for 3 months is 9.25%.
MCLR is calculated based on the loan repayment tenure. This tenure-linked benchmark is internal in nature. PNB determines the actual lending rates by adding the elements spread to MCLR.
The 4 components of MCLR are Marginal Cost of Funds, Cash Reserve Ratio (CRR), Tenure Premium, and Operating Costs.
The bank rate is the interest rate charged by a central bank while lending loans to a commercial bank. Marginal Cost of Funds Based Lending Rate (MCLR) is the minimum interest rate below which a financial institution cannot lend.
Floating rate is variable in nature. It always changes as a bank changes its interest rate. MCLR is used for interest rate calculation.
RBI introduced MCLR because rates based on this system are more receptive to the changes in the policy rates. MCLR also ensures that the monetary policy of the country is implemented effectively across all spheres.
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