{
  "id": 12819439,
  "title": "PNB, BoB & others increase lending rates",
  "url": "https://urgent.news/2026/10/08/pnb-bob-others-increase-lending-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T07:05:40.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/wealth/borrow/higher-emis-ahead-pnb-bank-of-india-bank-of-baroda-and-indian-bank-raise-lending-rates-check-details/articleshow/134782736.cms"
  },
  "original_language": "en",
  "account": "In response to the Reserve Bank of India (RBI) raising the repo rate by 25 basis points to 5.50%, leading financial institutions like Punjab National Bank (PNB) and Bank of Baroda (BoB) have adjusted their lending rates accordingly. This change may result in increased Equated Monthly Instalments (EMIs) for borrowers with loans tied to the repo rate.\n\nPNB has raised its repo rate-linked loan interest rate from 8.10% to 8.35%, effective from October 8, 2026. Similarly, Bank of India has revised its repo rate-based lending rate to 8.35%, effective from October 7, 2026. Indian Bank has also increased its RBLR from 7.95% to 8.20%.\n\nBank of Baroda has updated its lending benchmark following the RBI's decision, with the retail loan rate now set at 8.15% effective from October 8, 2026. The bank's BRLLR comprises the current repo rate of 5.50% and a mark-up/base spread of 2.65%.\n\nThe RBI's decision to hold off on cuts and the subsequent hike or pause in rates signal a cautious approach from central banks. For home loan borrowers, this may lead to higher EMI payments or longer loan tenures, depending on the lender's decision. Adhil Shetty, CEO of Bankbazaar, advises borrowers not to plan around lower EMIs, as many lenders may extend loan tenures to maintain stable EMIs, despite the increased overall cost over time.\n\nBorrowers are encouraged to inquire with their lenders about the specific impact of the rate hike and consider making small annual prepayments to mitigate the additional interest charges. As more banks adjust their lending rates, it is likely that further revisions will follow in the coming days.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}