Punjab National Bank has informed BSE that the Bank has reduced the BPLR from existing level of 13% p.a. to 12.50% p.a. effective from March 01, 2008.

In addition, Bank has also selectively reduced its interest rates by 50 bps on loan, which are not linked to BPLR such as housing Loans above Rs 20 lacs where interest rate will be in the range of 9.5% to 10.5% (against the existing rates ranging from 10% to 11%). Further, the interest rates in respect of loans granted for second house have also been reduced by 50 basic point (bps). Bank has also reduced rates of interest on Car loans consumer loans (personal loans) by 50 bps to 100 bps.