Punjab National Bank (PNB) has come up with a variety of promotions and offers to brighten up the holiday season, making its financial services and transactions more appealing than ever before. To provide additional delight to its clients, the bank has lowered the interest rate on loans against gold jewellery and Sovereign Gold Bonds by 145 basis points as part of the new program.
PNB currently provides 7.20 percent loans against Sovereign Gold Bonds (SGB) and 7.30 percent loans against gold jewelry.
PNB has also reduced house loan rates, which now start at 6.60 percent, while vehicle loans start at 7.15 percent and personal loans start at 8.95 percent, all of which are among the lowest in the sector.
PNB is also giving a 100% free of service charges/processing fees on loans against jewelry and SGB over the festive season, similar to the recent announcements on house and auto loans.
Home loan margins have also been cut by the bank. As a result, house loan applicants can now get loans up to 80% of the property's value, with no maximum limit on the loan amount.
Funds are accessible at a very cheap rate on a range of retail loan products offered by PNB during this season, thanks to the drop in interest rate and the absence of a processing charge.
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