Punjab National Bank (PNB), the country's second largest public sector lender, has reportedly unveiled ‘Festival Season Bonanza’ for housing, car and other retail loans. The offer is valid until December 31, 2015. Under this new scheme, housing loans, irrespective of the amount, will be provided at the bank’s base rate (the current base rate is 10%). There would be full waiver of upfront/processing fees and documentation charges on housing, car, two-wheeler and personal loans, while 50% reduction in processing/upfront fee on mortgage of immovable property and car loans at base rate to female borrowers availing housing loan from the bank.
Punjab National Bank has reported 48.71% fall in its net profit at Rs 720.71 crore for first quarter ended June 30, 2015 as compared to Rs 1405.12 crore for the same quarter in the previous year. However, total income of the bank increased by 4.73% at Rs 13432.05 crore for quarter under review as compared to Rs 12825.13 crore for the quarter ended June 30, 2014.
