Google search engine
HomeBusinessPNB Customers Alert! PNB Hikes MCLR Rates, NEFT, RTGS, Other Service Charges

PNB Customers Alert! PNB Hikes MCLR Rates, NEFT, RTGS, Other Service Charges


PNB Rules Change: Punjab National Bank has revised several of its banking and non banking charges. The public sector lender hiked its marginal cost of lending rate (MCLR), with effect from June 1, Wednesday. The marginal cost of lending rate, or MCLR, which is a key point in deciding various loan rates, has been hiked by 15 basis points, PNB said. This will in turn mean that loan EMIs for PNB customers are going to increase soon. The PNB MCLR rate hike comes almost a month after the RBI hiked its repo rate by 40 basis points. However, PNB said that there was no change in its base rate, fixed at 8.50 per cent.

Here are the tenor-wise MCLR effective from June 1, 2022, as per the PNB website:

Over night: Old rate — 6.60 per cent; New rate —  6.75 per cent

One Month: Old rate — 6.65 per cent; New rate — 6.80 per cent

Three Month: Old rate — 6.75 per cent; New rate — 6.90 per cent

Six Month: Old rate — 6.95 per cent; New rate 7.10 per cent

One Year: Old rate — 7.25 per cent; New rate 7.40 per cent

Three Years: Old rate — 7.55 per cent; New rate 7.70 per cent

PNB Hikes Service Charges for NEFT, RTGS

The public sector bank during late last month also hiked its service charges on Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) transactions. The PNB RTGS charges and PNB NEFT charges have been hiked from May 20.

From May 20, 2022, PNB customers are having to shell out Rs 24.50 for RTGS transactions done online or at the bank branch, between an amount Rs 2 lakh to 5 lakh. Previously, these charges were Rs 20 in case of bank transaction, and NIL for online transactions. For PNB RTGS transactions above Rs 5 lakh, customers are now paying Rs 49 per transactions as opposed to Rs 40 previously. The same was NIL for online transactions earlier.

Earlier, PNB used to charge Rs 2 per transaction for NEFT transactions up to Rs 10,000 at the bank, and did not charge anything for online payments. Now, this has been hiked to Rs 2.25 for bank transactions, and Rs 1.75 for online payments. For transactions over Rs 10,000 and up to Rs 1 lakh the bank will charge Rs 4.75 and Rs 4.25 at bank and online respectively, as opposed to Rs 4 and Rs 0 previously. For transactions above Rs 1 lakh and up to Rs 2 lakh, charges have been increased from Rs 14 to Rs 14.75 in branch, and to Rs 14.25 from zero online. PNB NEFT charges for transactions above Rs 2 lakh has been hiked from Rs 24.00 to Rs 24.75 in branch, and Rs 24.25 for online payments.

All these rates are not inclusive of GST, PNB has said. “No charges from Savings Bank account holders for NEFT funds transfers initiated online,” PNB said on its website. PNB IMPS charges have also been hiked from Rs 5 to Rs 6+GST for transactions between Rs 1,001 to Rs 1 lakh. Beyond that, PNB IMPS charges are Rs 12+GST, up from Rs 10 per transaction.

Read all the Latest News , Breaking News and IPL 2022 Live Updates here.


Source link

- Advertisment -
Google search engine

Most Popular

Recent Comments