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PNB announces festival bonanza

New Delhi, October 16, 2004

Punjab National Bank has decided to offer concessions under "PNB Festival Season Bonanza" in the Rate of Interest, Processing Fee and Documentation charges to all customers, who avail loans from 15th October 2004 to 31st December 2004 under its specified Retail Loan schemes.

Bank has decided to offer Housing Loans at 7.75% repayable upto 20 years. A rebate of 0.50% p.a. in rate of interest has also been offered during the above period under its Consumer, Doctors, Gold and Personal Loan Schemes (including PNB- Privilege Card & PNB-Joy Schemes).

Complete waivement of Processing Fee and Documentation Fee has been offered under 8 schemes namely Housing, Car, Consumer, Traders (For loans upto Rs.25 lacs), Doctors, Gold, Pensioner and Personal Loan Schemes.

Prospective Housing Loan borrowers will have a choice to avail Full waiver of Upfront fee & Documentation fee OR Free Housing Insurance cover for 10 years and 75% waiver in Up-front fee (however, Documentation fee is chargeable) OR Free Consultancy Services (at specified centres only) for the Interior decoration of the House/Flat being purchased or constructed. They will also have an opportunity to have one small size locker only at 50% of the locker rent for the first two years (available through select branches having locker facility).

"PNB Festival Season Bonanza” is continuation of several measures initiated by the Bank in the recent past to meet public demands in its various Retail Lending Schemes towards making the same more "Customer Friendly".

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