PNB slashes interest rates on home loans, car loans for festive season; check details here

FPJ Web DeskUpdated: Wednesday, November 03, 2021, 06:30 PM IST
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Punjab National Bank said with effect from November 8, 2021, it will provide one of the lowest interest rates on Car Loans at 6.65 percent and further reduced Home Loan rates, which now start from 6.50 percent | PTI

Punjab National Bank (PNB) launched a range of deals and offers on its retail loans this festive season.

With effect from November 8, 2021, the Bank said it will provide one of the lowest interest rates on Car Loans at 6.65 percent and further reduced Home Loan rates, which now start from 6.50 percent, making its banking service more attractive than ever before, it said in a press release.

To promote the government's efforts towards the adoption of electric/green vehicles, PNB has slashed the interest rate on e-vehicles and CNG vehicles to 6.65 percent, while it starts from 6.75 percent for other cars.

The interest rate on Personal Loans is reduced by 5 basis points (bps) to 8.90 percent. Additionally, the limit on personal loans has been revised upwardly to Rs. 20.00 lakh with a repayment period of 72 months.

To encourage customers to adopt digital banking channels, PNB is giving additional discounts of up to 5bps on Home Loan and 10 bps on Car Loan. The customers onboarding through various digital channels like Internet Banking, PNB One Mobile App, etc., can avail of this benefit, it said.

This Diwali, PNB also offers a full waiver of service charges/processing fees on home, vehicle, personal, gold, and property loans. competitive rate on a range of retail loan products for PNB customers.

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