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Loan Interest Rates Hiked in PNB, Bank of Baroda and Other Banks
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News18•09-10-2026, 14:51
Loan Interest Rates Hiked in PNB, Bank of Baroda and Other Banks
- •Several banks have increased loan interest rates following the Reserve Bank of India hiking the repo rate by 0.25 percentage points.
- •Major public sector banks including Punjab National Bank, Indian Bank, and Bank of Baroda have raised rates by up to 0.25 percentage points.
- •The hike in interest rates will lead to increased monthly installments or EMIs for existing loan borrowers.
- •Punjab National Bank increased its RLLR from 8.10 percent to 8.35 percent, effective from October 8.
Key Questions Answered
The Reserve Bank of India raised the repo rate by 0.25 percentage points, bringing it to 5.50 percent.
Punjab National Bank increased its Repo Linked Lending Rate (RLLR) from 8.10 percent to 8.35 percent, effective October 8.
No, Punjab National Bank stated that there was no change in its Marginal Cost of Funds Based Lending Rate (MCLR) and Base Rate.
