Punjab National Bank (PNB) has launched retail lending scheme linked with the repo rate effective from August 27, 2019. In the new schemes rate of interest will be 0.25 per cent less than the existing applicable rates based on MCLR. The new rates will vary from 8.25 per cent to 8.35 per cent for housing loan borrowers and 8.65 per cent for car loan borrowers.
Existing customers of the bank will also have an option to switch over to new Repo Linked Lending Rates (RLLR) with minimal charges.
PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.
