President Of India-Backed PSU Bank Keeps Lending Rates Unchanged For June 2026

On Monday's morning session, Indian equity benchmarks traded marginally higher, with the benchmark Nifty 50 index rising 0.03 per cent to 23,555.00. Banking stocks remained in focus following lending rate revisions and regulatory disclosures by lenders. In this segment, Punjab National Bank (PNB) share price traded at Rs 104.60 on June 1, 2026, down 1.37 per cent from the previous close, after the bank announced its lending rate framework for June 2026.

PNB Retains MCLR Across All Tenors

Punjab National Bank informed the exchanges that it has kept its Marginal Cost of Funds Based Lending Rate (MCLR) unchanged across all tenors with effect from June 1, 2026. The bank retained its overnight MCLR at 7.95 per cent. The one-month MCLR continues at 8.20 per cent, while the three-month and six-month tenors remain unchanged at 8.40 per cent and 8.60 per cent, respectively.

The one-year MCLR, which is commonly used as a benchmark for several retail and corporate loans, has been retained at 8.75 per cent. The three-year MCLR also remains unchanged at 9.05 per cent. These rates are unchanged from the levels that were effective from May 1, 2026.

Repo Linked Lending Rate Unchanged

Punjab National Bank also retained its Repo Linked Lending Rate (RLLR) at 8.10 per cent, including a BSP of 0.10 per cent. The RLLR is applicable to loans linked directly to the policy repo rate and is used across various retail lending products.

Base Rate Maintained At 9.50 Per Cent

The bank further announced that its Base Rate will continue at 9.50 per cent. With no changes in MCLR, RLLR or Base Rate, borrowing costs linked to these benchmarks remain unchanged for customers during June 2026.

What The Decision Means

By maintaining all benchmark lending rates at existing levels, Punjab National Bank has kept its lending framework stable across short-, medium- and long-term tenors. The decision ensures continuity in loan pricing for customers whose borrowings are linked to MCLR, repo-based benchmarks or the Base Rate.

About Punjab National Bank

Punjab National Bank is one of India's leading public sector banks, offering a wide range of retail, corporate and digital banking services. Headquartered in New Delhi, the bank operates an extensive branch network across the country and serves customers across multiple banking segments.

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Disclaimer: The article is for informational purposes only and not investment advice.