Pnb Announces Single, Reduced Plr

Punjab National Bank (PNB) has announced a single, reduced prime lending rate (PLR) for loans of various maturities and pegged the new rate at 13 per cent. The bank also effected a corresponding revision in deposit rates, which along with the new PLR, came into effect on May 8, a bank press release said. PNB introduced a new slab of 15-29 days deposits with an interest rate of five per cent, while retaining 46-90 day and 91-179 day rates at seven per cent. The 30-45 day deposits would fetch 5.5 per cent, 50 basis points less than the older rate. (PTI)

 

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