PNB launches festival bonanza; housing loans at 10.25 per cent

NEW DELHI: To increase business in the festival season, Punjab National Bank ( PNB) today said housing loan of up to Rs 2 crore will attract 10.25 per cent interest rate and also announced full waiver of processing fee and documentation charges on housing, car and two-wheeler loans.

Under the festival season bonanza offer for retail loans, housing loans of over Rs two crore will attract interest of 10.50 per cent.

The festival bonanza, launched today, would contribute to the growth of GDP and with the onset of festival season, PNB said in a statement.

Further, two-wheeler loan on floating basis would attract interest rate of 12.25 per cent. Car loans on fixed basis would attract interest rate of 10.65 per cent and 10.50 per cent to better rated borrowers on floating basis.

"Full waiver of processing fee and documentation charges on housing, car and two-wheeler loan schemes is also announced for the festival period," the statement said.

The bank said it has announced the festive season bonanza to contribute in the growth of GDP, it added.