The bank has stated that this offer is available till 31 December 2020. Customers can take advantage of this attractive offer through 10,897 branches or digital channels of PNB across the country.
New Delhi: Punjab National Bank (PNB) has started offers for its customers. Its name is ‘Festival Bonanza Offer’. Under this, the bank will waive processing fees and documentation charges on some major retail products like home and car loans. Due to the Kovid-19 crisis, the demand for loans has decreased. The country’s second largest government bank will try to speed it up through this.
In recent months, interest rates on loans have steadily decreased. They have reached the lowest levels of several months. Despite this, credit growth is slow. People are avoiding taking loans. Given this, the bank has launched this offer before the festival season.
The bank has stated that this offer is available till 31 December 2020. Customers can take advantage of this attractive offer through 10,897 branches or digital channels of PNB across the country.
To increase the availability and affordability of loans to customers, PNB has also reduced processing fees on takeover loans along with new ones. According to the bank, customers will no longer have to pay the processing fee in addition to the documentation fee on the home loan. The processing fee is 0.35 percent of the loan amount. It can be a maximum of 15 thousand rupees.
on a car loan, customers can now save up to 0.25 percent of the total amount of the loan. At the same time, this savings on a property property (loan on property) can be up to one lakh rupees. This will depend on the loan amount.
The bank is now offering home loans at a breathtaking rate of 7.1 per cent. At the same time, it is 7.55 percent for car loans. These rates are effective from September 1, 2020.
Despite the impact of the pandemic on both the pace of borrowing and the customer sentiment, the bank is confident that there will be an increase in spending in this festival season. This will strengthen his credit portfolio. It will also have a positive effect on economic recovery.
Source: economictimes.indiatimes.com
