Delhi : In a series of offers launched by Punjab National Bank during the festival season, PNB has cut the interest rate on home loans above Rs. 50 lakhs by 50 basis points. PNB has announced that now home loans are offered at 6.60% irrespective of any upper ceiling limit and will be linked with the applicant’s credit score. The said rate is also applicable to balance transfer cases and is lowest among public sector banks. Bank has also announced offering top-up home loans at an attractive rate of interest to existing as well as balance transfer cases.
PNB is already offering a full waiver of service charges/ processing fees on Home Loans, Vehicle Loans, Personal Loans, Pension Loans, myProperty Loan and Gold Loans under its Festival Bonanza Offer. Car Loan from PNB starts from 7.15% and Personal Loan to public from 8.95%, which is one of the lowest in the industry.
PNB has said that Home loan ownership will become more affordable to the public in view of this offer of a full waiver of service charges and a low interest rate starting from 6.60%.