Punjab National Bank (PNB), the public sector lender, has received overwhelming response for its recently launched special car loan scheme which is valid till January 31, 2012.
The special car loan scheme is offering 11.25% interest for car loans up to 3 years and 11.75% from 3-7 years repayment. The bank is financing 100% ex-show room price of the vehicle or 90% of on road cost. PNB has waived off processing and documentation charges.
The bank has a special Retail Assets Branch at Ernakulam functioning for sanction of retail loans. Meanwhile, the bank has also effected substantial increase in the Non-Resident term deposit (NRE) interest rates. The PNB is now offering 9.25% interest on NRE term deposits with maturity period ranging from 1-5 years.
