PNB reduces the loan rate to 6.50%; Home, Auto loans to become cheaper

PNB has indicated that it will offer one of the lowest interest rates on auto loans, which is 6.65%. Mortgage rates, below the bank, will start from 6.50 percent.

State lender Punjab National Bank (PNB) announced that it had cut its key rate by 5 basis points to 6.50% on November 4. become comparatively cheaper in the middle of the current holiday season. According to the bank, from November 8, the Repo Linked Lending Rate (RLLR) will drop from 6.55% to 6.50%. Earlier on September 17, the bank had reduced its RLLR from 6.80 percent to 6.55 percent.

PNB has indicated that it will offer one of the lowest interest rates on auto loans, which is 6.65%. Mortgage rates, below the bank, will start from 6.50 percent. According to PNB, the changes will make its banking services more attractive than ever. The credit company also cut the interest rate on electric vehicles and CNG vehicles to 6.65%. The personal loan will now be available at 8.90%, its rates having also been lowered by 5 basis points (bps).

Taking into account the convenience of its customers, PNB has announced a new toll-free number. Customers can use the number to apply for different types of loans with the best deals available. In a tweet, PNB wrote: “Give a missed call to 1-800-180-5555 and let our customer service providers contact you with some of the best deals.” He also mentioned that customers can apply through various other banking channels.

As of June 30, 2021, the Punjab National Bank has a range of 36,851 delivery channels. The public sector bank operates a chain of 10,641 national branches, 13,690 ATMs, two international branches and 125 18 commercial correspondents. It is the second largest public sector bank in the country and its overall (global) business is Rs. 18 23 685 crores.

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