As part of continued efforts to enhance customer service, 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 to provide one of the lowest interest rates on car loans at 6.65% and further reduced home loan rates, which now start from 6.50%.
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%, while it starts from 6.75% for other cars.
The interest rate on personal loans is reduced by 5 basis points (bps) to 8.90%. Additionally, the limit on personal loans has been revised upwardly to Rs 20.00 lakh with a repayment period of 72 months.
Further, PNB is encouraging customers to adopt digital banking channels by giving additional discounts of up to 5 bps 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, thereby enhancing their online banking experience.
This diwali, PNB also offers a full waiver of service charges/processing fees on home, vehicle, personal, gold, and property loans. With the reduction in the interest rate and zero processing fee, funds are available at a very competitive rate on a range of retail loan products for PNB customers.