New Delhi: The National Bank of the Punjab (PNB) has decided to cut its key rate by 5 basis points to 6.50 percent, Livemint reported on Wednesday. With this step, all GNP loans including home, car, education, personal loans, would become cheaper. “As of November 8, 2021, PNB will offer one of the lowest interest rates on auto loans at 6.65% and even lower rates on home loans, which now start at 6.50%, making its banking service more attractive than ever, ”PNB said in a statement.Read also – After the center, these states bring festive cheers to the common man, reduce excise duties on gasoline and diesel | Complete list here
In addition, PNB will reduce the interest rate on the financing of 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 percent,” the lender said in a statement. . Also Read – Diwali 2021: 5 Best And Easy Eye Makeup You Need To Try This Diwali, Watch Video
“In addition, the limit for personal loans has been revised upwards to Rs 20 lakh with a repayment period of 72 months,” he said. In addition, PNB will provide an additional rebate of up to 5 basis points on home loans and 10 basis points on auto 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 benefit from this benefit, thereby enhancing their online banking experience,” the statement added. Also Read – Diwali Bash of the TV Industry: Adaa Khan to Aly Goni, TV Celebrities Who Have Been Spotted During Diwali Holidays | Watch the video
Additionally, on the occasion of Diwali, PNB will offer full waiver of service charges or processing fees on home, home, personal, gold and vehicle loans. “With the reduction in the interest rate and the absence of processing fees, funds are available at a very competitive rate on a range of retail loan products for PNB clients,” he added.
(With IANS entries)