PNB cuts MCLR; also reduces interest rates on domestic retail term deposits

Thesynergyonline Banking Bureau

NEW DELHI, MAY 30 : Punjab National Bank (PNB) has reduced its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) in short term buckets up to 3 months from June 01, 2017.

The bank has also reduced interest rates on domestic retail term deposits of less than Rs 1 crore by 25 bps in select short- term maturity buckets from June 01, 2017.

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