Punjab National Bank (PNB) has brought a fantastic opportunity for its customers. The bank has launched a special retail loan campaign ‘PNB NIRMAAN 2025’, under which significant benefits are available for those seeking Home Loans, Car Loans, and Education Loans. The objective of this campaign is to make these loans more affordable and easily accessible, enabling people to buy their dream home, get a new car, or cover the expenses of children’s higher education.

This special offer is available across all PNB branches nationwide, as well as on the bank’s digital platforms like the PNB One app and PNB’s official website. PNB NIRMAAN 2025 is a limited-period scheme, leveraging which customers can avail various discounts:

  • Zero Processing and Documentation Charges: The bank is not charging any processing fee or documentation charge on new Home Loans and Car Loans.
  • Special Discount on Home Loan Transfer: If you transfer your existing Home Loan from another bank to PNB, there will be no NEC (No Encumbrance Certificate), Legal, or Valuation fees applicable.
  • Interest Rate Concession: A concession of 5 basis points (0.05%) is being offered on the interest rates for Home, Car, and Education Loans.

PNB’s New Interest Rates (MCLR and RLLR):

PNB has recently revised its interest rates, which are beneficial for customers.

  • New MCLR Rates (Effective: April 1, 2025):

    • Overnight: 8.40%
    • 1 Month: 8.50%
    • 3 Months: 8.70%
    • 6 Months: 8.90%
    • 1 Year: 9.05%
    • 3 Years: 9.35%

  • Reduced RLLR Rate (Effective: April 10, 2025): PNB has reduced its Repo Linked Lending Rate (RLLR) from 8.90% to 8.65%. This rate includes the current RBI Repo Rate (6.00%) and the bank’s mark-up (2.65%). The effective floating interest rate for customers is formed by adding a Base Spread (BSP) of 0.20% to the RLLR, which is now 8.85% (8.65% + 0.20%). This new RLLR is applicable to floating rate Home Loans, Auto Loans, and MSME Loans.

What is RLLR?

RLLR, or Repo-Linked Lending Rate, is a floating interest rate directly linked to the Repo Rate set by the Reserve Bank of India (RBI). As per RBI guidelines, banks link their retail loan interest rates to external benchmarks like the Repo Rate, bringing transparency and quick adjustments in interest rates.

How to Apply?

Applying for a loan under the PNB NIRMAAN 2025 campaign is very easy. Interested customers can visit their nearest PNB branch or apply online from home through the PNB One mobile app or the bank’s official website. The digital application process has been made fast and simple, allowing for quick document verification and loan approval. This is an excellent opportunity for all those who wish to get their loans at lower interest rates and without any additional charges.