The new rates will be effective from January 16, 2022
Punjab & Sind Bank, a public sector bank, has slashed the Marginal Cost Based Lending Rate (MCLR) by 5 to 10 basis points (bps) across the short term loans.
The new rates will be effective from January 16, 2022, a statement issued by the bank said.
While the One year MCLR stands at 7.45 per cent with effect from January 16, 2022 , the Overnight, One Month, Three Month and 6 Month MCLR rates have witnessed the rate cuts. Further, the existing Base Rate and BPLR kept unchanged, the statement added.