PNB Term Loan: Public sector Punjab National Bank (PNB) on Wednesday reduced the interest on loans by 0.05 percent to 6.50 percent.
New Delhi. If you are a customer of Public Sector Punjab National Bank i.e. PNB, then there is good news for you. In fact, PNB on Wednesday reduced the interest on the loan by 0.05 percent to 6.50 percent.
PNB said in the information given to the stock market that the interest rate linked to the repo ie RLLR (Repo Linked Lending Rate) has been reduced from 6.55 percent to 6.50 percent with effect from November 8. With the reduction in RLLR, all loans including home, car, education, personal loans will become cheaper.
Repo based interest rate was reduced on September 17
It is noteworthy that the bank had last reduced its repo based interest on September 17 from 6.80 per cent to 6.55 per cent.
PNB Q2 Results: PNB’s profit up 78 percent to Rs 1,105 crore
Recently, PNB had declared its financial results for the second quarter of the current financial year (2021-22). The bank’s net profit for the July-September quarter of the current financial year jumped 78 per cent to Rs 1,105 crore. The bank had told in the information sent to the stock market that it had earned a net profit of Rs 620.81 crore during the same quarter of the last financial year. At the same time, the total income of the bank declined to Rs 21,262.32 crore for the quarter ended September, 2021, from Rs 23,279.79 crore in the same quarter of the previous financial year.
The operating profit of the bank also declined to Rs 4,021.12 crore during July-September, 2021 from Rs 5,674.91 crore in the corresponding period of the previous financial year. During the reporting quarter, the NPAs of PNB Bank increased marginally to 13.63 per cent. It was 13.43 per cent in the corresponding quarter of the previous financial year.
