New Delhi, Nov 3 (PTI) State-owned Punjab National Bank on Wednesday announced a cut in its benchmark lending rate by 5 basis points to 6.50 per cent.

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The Repo Linked Lending Rate (RLLR) has been changed from 6.55 per cent to 6.50 per cent with effect from November 8, PNB said in a regulatory filing.

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With reduction in RLLR, all loans including home, car, education, personal loans would become cheaper. The bank had last cut its RLLR on September 17 from 6.80 per cent to 6.55 per cent.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)