Loan rates cut: PNB, Indian Bank & Bank of India cut lending rates across tenures

Punjab National Bank, Indian Bank, and Bank of India have reduced their Marginal Cost of Funds-based Lending Rates (MCLR) by 5 basis points in July 2025. This reduction in MCLR will lower borrowing costs for consumers across various loan tenures. The move follows the Reserve Bank of India's repo rate cut, aiming to make loans more affordable.