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Punjab National Bank reduces home loan interest rate to 6.60%

The interest rate is also applicable to balance transfer cases and is lowest among public sector banks. PNB also decreased interest rate on home loans above Rs 50 lakh by 50 basis points.

September 17, 2021 / 09:11 PM IST
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Public sector lender, Punjab National Bank, on September 17, announced festive offers for home loans at 6.60 percent irrespective of any upper ceiling limit and said it will be linked with the applicant's credit score.

The interest rate is also applicable to balance transfer cases and is lowest among public sector banks. PNB also decreased interest rate on home loans above Rs 50 lakh by 50 basis points.

ALSO READ: SBI reduces home loan interest rate to 6.70%

Among other details, PNB has announced to offer op-up home loans at an attractive rate of interest to existing as well as balance transfer cases.

Under its Festival Bonanza Offer, PNB is offering a full waiver of service charges or processing fees on home loans, vehicle loans, personal loans, pension loans, MyProperty loan and gold loans. The car loan, through PNB, begins from 7.15 percent, while personal loan to public starts from 8.95 percent onwards.

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"Home loan ownership will become more affordable to the public in view of this offer of a full waiver of service charges and a low interest rate starting from 6.60%," said PNB in a press release.

Earlier on September 16, State Bank of India announced festive offers for home loans at 6.70 percent irrespective of loan amount. The offers are aimed to make home loans more affordable in the festive season, the bank said.
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