Punjab National Bank Keeps MCLR, RLLR, and Base Rate Unchanged from 1 March 2026
New Delhi, 27 February 2026: Punjab National Bank (PNB), one of India’s leading public sector banks, announced today that its Marginal Cost of Funds-based Lending Rates (MCLR) will remain unchanged effective 1 March 2026. This decision applies across all tenors, reflecting the bank’s stable approach to lending in the current financial environment.
The MCLR rates as of 01 March 2026 are as follows:
| Tenor | MCLR (%) |
|---|---|
| Overnight | 7.95 |
| One Month | 8.20 |
| Three Months | 8.40 |
| Six Months | 8.60 |
| One Year | 8.75 |
| Two Years | 9.05 |
In addition to MCLR, the Repo Linked Lending Rate (RLLR) and Base Rate also remain unchanged, with the Base Rate at 9.50%.
The announcement was officially communicated by Bikramjit Shorn, Company Secretary, PNB, from the Head Office in Dwarka, New Delhi. The bank has requested shareholders and customers to take note of the rates as they continue to apply for all eligible loans and advances.
PNB’s MCLR framework allows the bank to adjust lending rates in line with changes in the cost of funds, but the decision to maintain the current rates demonstrates a continued focus on stability and predictability for borrowers.
The unchanged rates are expected to provide relief to existing borrowers with floating rate loans linked to MCLR or RLLR, ensuring predictable EMI obligations for the near term.
About PNB:
Punjab National Bank, established in 1894, is one of India’s oldest and largest public sector banks. With a wide network of branches and ATMs across the country, PNB provides comprehensive banking and financial services, including retail, corporate, and international banking solutions.