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| PNB distributes housing loans | | |
Early Times Report
Jammu, Nov 30: Punjab National Bank (PNB) under extension of its festival bonanza offer – 2009 for housing and car loans upto December 31, 2009 organized a function for distribution of housing loans to its customers at their circle office, Jammu.
Chairing the function chief manager, AK Mota said that the circle has taken all efforts to reach the masses for exploiting the lowered rates of housing and car loan during the festival.
As a part of its offer, PNB has extended its housing loans upto Rs. 30 lacs at discounted interest rate of 8.50% p.a (Fixed) for three years and 2 to 2.50% below BPLR in subsequent years of loan tenure under floating option.
Besides this, Bank also offers complete waiver of processing fee and documentation charges on housing loans upto Rs. 30 lacs. Margin on housing loans upto Rs. 20 lacs has been slashed to 15%. Bank has also reduced the interest rate on car loans by 50 basis points.
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