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Punjab National Bank (PNB) has dealt a severe blow to its customers. On Wednesday, the first day of the beginning of the month of June, the bank has increased the interest rates of the loan by 15 basis points on Wednesday. This will affect all types of loans taken from PNB and will increase the EMI burden on the borrowers. According to the information given in the regulatory filing, the new rates will be effective from June 1, 2022.
Many big banks have increased rates
Significantly, after the increase in the repo rate by the Reserve Bank of India (RBI), many big and small banks have increased their interest rates. Now in this sequence, PNB has also given a big blow to its customers. Explain that the RBI had increased the repo rate by 0.40 per cent in a sudden meeting of the MPC. After this, the repo rate was increased to 4.40 percent.
The new rates after the change are as follows
According to information shared on Punjab National Bank’s website, after this hike, the MCLR rates for a period of one year have increased to 7.40 per cent from the earlier fixed 7.25 per cent. Let us tell you that most of the loans are related to annual MCLR rates, so it is natural for the loan EMI to increase after increasing it. Apart from this, the LCLR rate has been increased by 15 bps to 6.75 per cent for one-night tenure, 6.80 per cent for one-month tenor and 6.90 per cent for three-month tenor. Apart from this, the MCLR rate on loans of six months has been increased to 7.10 percent. Similarly, for a period of three years, it has become 7.70 percent.
Here too the burden on the customers increased
Apart from this, the bank has increased the charges including NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement). The National Automated Clearing House (NACH) e-mandate charges have also been revised. According to the information given by PNB on Tuesday, RTGS charges have been reduced to Rs 24.50 for offline transactions and Rs 24 for online transactions, while earlier for offline transactions at branch level. The fee for RTGS was Rs 20. In addition, RTGS charges have been increased to Rs 49.50 for an amount of Rs 5 lakh and above, from Rs 40 earlier. Its online fee has been reduced to Rs 49. According to the information given by PNB, the NEFT charges for transactions up to Rs 10,000 increased to Rs 2.25, from Rs 2 earlier. The online fee for this has become Rs 1.75.