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PNB'S retail lending festival bonanza

New Delhi, October 01, 2005 

To meet the hiked aspirations of public during festival season, Punjab National Bank (PNB) has launched a Festival Season Bonanza from 1st October, 2005 under which attractive concessions are being offered to the customers in its retail lending schemes. The rebates under the bonanza are available for a limited period.

PNB has decided to offer concessions in rate of interest, processing fee and documentation charges to all customers who avail loan from 1.10.2005 under Bank's specific retail loan schemes. Bank is offering 0.5% reduction in rate of interest under Car Loan Scheme making Car Loan available at 7.50% only. A reduction of 0.25% is offered under Bank's Housing Loan Scheme (Floating Option) for all tenor of repayments up to 20 years. Housing loan is now available at 7.50%, 7.75% and 8.00% for repayment tenor of upto 5 years, above 5 years to 10 year and above 10 years to 20 years, respectively. During this festival season bonanza, interest rebate is available under Bank's Doctors and Gramin Chikitsak, Loan against Gold/Jewellary, Pensioners, Mortgage, Future Lease Rental, Personal (all variants) and Traders Loan (upto aggregate limit of Rs.20 lac) schemes.

Processing fee and documentation charges under Bank's nine retail loan schemes viz. Housing, Car, Traders (for loans upto Rs.20 lac), Doctors & Gramin Chikitsak, Loan against Gold, Pensioners, Mortgage, Future Lease Rental and Personal (all variants) Loan have also been waived during this bonanza period.

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