Punjab National Bank hikes RLLR

New Delhi: State-run Punjab National Bank (PNB) has increased repo-linked lending rate (RLLR) by 0.15 percentage points to 6.80 percent. The bank has also cut its base rate by 0.10 percentage points to 8.90 percent.

The new rates will come inot effect from 1 September, the bank said in a regulatory filing. The RLLR has been hiked from 6.65 percent to 6.80 percent now. 

This increase by PNB may be followed by other banks. All the retail loans like home loan, auto loan etc are linked to RLLR. The home loan rates had come to their lowest levels in last 15 years recently.