PNB

Major Indian banks including HDFC Bank, SBI, PNB, Bank of Baroda and ICICI are in the spotlight as the festive season kicks off. PNB has waived processing fees on home and car loans under its 'PNB Utsav Festivities 2026' campaign, while SBI and HDFC Bank are preparing their own festive offers. At the same time, several banks have raised lending rates, prompting borrowers to compare new interest rates on home loans.

India's public sector banks moved quickly to pass on the Reserve Bank of India's 25 basis point rate hike. Within a day, Punjab National Bank, Bank of India and Indian Overseas Bank lifted their repo-linked lending rates to 8.35%, while Indian Bank moved to 8.20%, Bank of Baroda to 8.15% and Tamil Nadu Mercantile Bank to 8.50%. The swift transmission means higher EMIs for home, auto and personal loan borrowers, and signals banks are aligning loan pricing closely with the central bank's policy stance.