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PNB Interest Rates: Big blow to PNB customers! Interest rates of other loans including home loans increased, check new rates

PNB Interest Rates 2022: If you are a customer of PNB then this news is very important for you. PNB Housing Finance has increased the interest rates on other loans including home loans. This will not only increase the EMI burden on existing customers but also new customers will have to pay more interest. Let’s know the latest rates. 

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PNB Interest Rates: There is another shocking news amidst rising inflation. If you are a PNB customer and have taken a home loan or any other loan, then this news is very important for you. Actually, after Punjab National Bank, now PNB Housing Finance (PNB Housing) has also increased the interest rates on loans. This time PNB Housing has increased the interest rate by 35 basis points i.e. 0.35 percent on many retail loans along with home loans. The new rates have come into effect from today i.e. May 9.

It is worth noting that under PNB Housing, customers get a loan for both buildings a house and buying a house. Both retail and corporate have a stake in this. But now customers will have to pay more EMI for this. Apart from this, new borrowers will have to pay more interest. Earlier, PNB Bank had also increased its interest rates.

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Read More: Central Bank Of India: Big crisis on this government bank, 600 branches to be closed! Do you have an account in these branches?

Bank gave information

PNB Housing has given detailed information about this. Accordingly, the new interest rates are applicable on different dates. RLLR for new customers will be effective from May 7, 2022. At the same time, the Repo Linked Lending Rate (RLLR) for existing customers will be 6.90 percent from June 1, 2022. 

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Earlier, PNB has also increased the interest rates. Under this, the interest rate has increased by 0.40 percent to 6.90 percent. Let us tell you that PNB has informed the stock market that with effect from June 1, 2022, the RLLR for existing customers has increased from 6.50 percent to 6.90 percent.

RBI hikes repo rate

Actually, on May 4, RBI announced to increase the repo rate from 4 percent to 4.40 percent. RBI Governor Shaktikanta Das said that due to rising commodity prices in the global market and increasing pressure on other fuels including petrol and diesel, we have to change the repo rate. Since then, the interest rates are also being increased by the banks. In this sequence, so far ICICI Bank, Bank of Baroda, and Bank of India have also increased the repo-based interest rates.

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