Changes in PNB Rules: Punjab National Bank has revised several of its banking and non-banking charges. The public sector lender hiked its marginal cost of lending rate (MCLR) with effect from Wednesday, June 1. The marginal cost of lending rate, or MCLR, which is a key point in deciding various lending rates, has been hiked by 15 basis points. PNB Told. This would mean that the loan EMI for PNB customers is going to increase soon. PNB MCLR rate hike This comes almost a month after the RBI hiked the repo rate by 40 basis points. However, PNB said there was no change in its base rate, which is fixed at 8.50 per cent.
According to PNB’s website, the MCLR for the period with effect from June 1, 2022 is as follows:
Overnight: Old rate – 6.60 percent; New rate – 6.75 percent
One month: Old rate – 6.65 percent; New rate – 6.80 percent
Three months: Old rate – 6.75 per cent; New rate – 6.90 percent
six months: chronic rate – 6.95 percent; New rate 7.10 percent
One year: Old rate – 7.25 percent; New rate 7.40 percent
three-year old rate – 7.55 per cent; New rate 7.70 percent
PNB hikes service charges for NEFT, RTGS
The public sector bank also increased its service charges on Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) transactions late last month. PNB RTGS charges and PNB NEFT charges have been increased from May 20.
From 20th May 2022, PNB Customer For RTGS transactions done online or at a bank branch, between Rs 2 lakh and Rs 5 lakh, the payment is Rs 24.50. Earlier, these charges were Rs 20 in case of bank transactions and zero for online transactions. For PNB RTGS transactions above Rs 5 lakh, customers are now paying Rs 49 per transaction, as against Rs 40 earlier. The same was earlier zero for online transactions.
Earlier, PNB used to charge Rs 2 per transaction for NEFT transactions up to Rs 10,000 in the bank, and did not charge anything for online payments. Now, it has been reduced to Rs 2.25 for bank transactions and Rs 1.75 for online payments. For transactions above Rs 10,000 and up to Rs 1 lakh, the bank will charge Rs 4.75 and Rs 4.25 on bank and online, respectively, as against Rs 4 and Rs 0. For transactions above Rs 1 lakh and up to Rs 2 lakh, the fee has been increased from Rs 14 to Rs 14.75 at branch and Rs 14.25 from zero online. PNB NEFT charges have been increased from Rs 24.00 to Rs 24.75 at branch for transactions above Rs 2 lakh and to Rs 24.25 for online payment.
PNB has said that all these rates do not include GST. “No fee will be charged from savings bank account holders for NEFT fund transfers initiated online,” PNB said on its website. PNB IMPS charges have also been increased from Rs 5 to Rs 6 + GST for transactions between Rs 1,001 and Rs 1 lakh. Also, the PNB IMPS charges are Rs 12 + GST, in excess of Rs 10 per transaction.
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