Punjab National Bank (PNB), a public sector bank, has announced the launch of its special retail loan campaign, “PNB NIRMAAN 2025”, aimed at making home and car ownership more affordable. The campaign is active and is available across all PNB branches and digital platforms, including the PNB One app and PNB’s official website, according to the PNB press release.
What is PNB NIRMAAN 2025?
“PNB NIRMAAN 2025” is a time-bound loan offer designed to attract home buyers, car buyers, and students seeking financial assistance. As part of this initiative, PNB is offering a host of exclusive benefits, including:
- Zero processing and documentation charges on home loans and car loans
- Zero NEC (No Encumbrance Certificate), legal, and valuation fees for home loan takeovers above a specified amount
- Interest rate concessions of 5 basis points (bps) on home, car, and education loans.
Latest PNB Marginal Cost of Funds based Lending Rate (MCLR) rates (effective from April 1, 2025):
| MCLR W.E.F. 01-04-2025 | |
| MCLR TENOR | Revised w.e.f. 01.04.2025 |
| Overnight | 8.40% |
| One month | 8.50% |
| Three month | 8.70% |
| Six month | 8.90% |
| One year | 9.05% |
| Three years | 9.35% |
Revised PNB Repo Linked Lending Rates (RLLR) (effective from April 10, 2025):
New RLLR: 8.65% (Repo Rate 6.00% + Mark-up 2.65%)
Effective lending rate: 8.85% (RLLR + BSP of 0.20%)
This revised rate will apply to floating rate personal loans, including home loans, auto loans, and MSME loans, with the next interest rate reset due after 3 years from the account opening date.
According to the PNB website, “The RLLR has been changed from 8.90% to 8.65% {Repo Rate (6.00%) + Mark-up (2.65%)} w.e.f. 10th April 2025 for all customers. Along with RLLR, BSP of 20 bps will be charged.”
What is RLLR?
Repo-linked lending rate (RLLR) is the interest rate at which banks extend loans to customers, based on the repo rate set by RBI. The term “repo-linked lending rate” refers to an interest rate that is linked to the repo rate. An RBI circular issued in October 2019 mandates that banks link their retail loans to external benchmark lending rates, known as E-BLR. Consequently, the repo rate has become the benchmark for most banks.
How to apply for PNB loans under NIRMAAN 2025
Interested customers can apply for loans under the NIRMAAN 2025 scheme by visiting any PNB branch or logging into the PNB One mobile app or website. The streamlined digital application process ensures faster approvals and seamless documentation. Source Link
