PNB to Cut Home Loan, Electric Vehicle Finance Rates, Auto News, ET Auto

In addition, PNB will reduce the interest rate on financing electric vehicles and CNG vehicles to 6.65%.

Punjab National Bank (PNB) major loans will reduce home loan rates from 8 November 2021.

As a result, home loan rates will start from 6.50%.

In addition, PNB will reduce the interest rate on financing electric vehicles and CNG vehicles to 6.65%. “To meet customer demand during the current festival season, the interest rate on personal loans is reduced by 5 basis points (bps) to 8.90%,” the lender said in a statement.

“Additionally, the personal loan limit has been revised upwards to Rs 20 lakh with a repayment period of 72 months.” In addition, PNB will provide an additional discount of up to 5 basis points on home loans and 10 basis points on car loans to customers who apply through PNB’s various digital channels.

“Customers who integrate through various digital channels such as internet banking, PNB One mobile app, etc., can take advantage of this benefit, enhancing their online banking experience.”

In addition, on the occasion of Diwali, PNB will offer full waiver of service charges or processing fees on home, car, personal, gold and property loans.

“With the reduced interest rate and no processing fees, funds are available at a very competitive rate on a range of retail lending products for PNB clients.”

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