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PNB and State Bank of India plan to launch special loan schemes

There is great news for the customers of State Bank of India (SBI) and Punjab National Bank (PNB), the two largest state-owned banks in the country.

Yogita S.

Yogita S.By Yogita S.

Published on 10 Sep 2020 9:20 AM GMT

PNB and State Bank of India plan to launch special loan schemes
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New Delhi: There is great news for the customers of State Bank of India (SBI) and Punjab National Bank (PNB), the two largest state-owned banks in the country. Both banks have started preparations to woo their customers in view of the upcoming festive season. Under this, SBI and PNB have started a special scheme.

Festival Bonanza offer for PNB customers:

While Punjab National Bank (PNB) has announced a mega 'Festival Bonanza Offer' for its customers. On the other hand, State Bank of India (SBI) has brought three great offers on home loans.

Talking about the PNB offer, the bank has decided to waive upfront or processing fees and documentation charges on important retail products like home and car loans.

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Loans at the rate of 7.10 percent :

The bank has also announced waiving processing fees on new and takeover loans. PNB has said that the bank is offering home loans at the rate of 7.10 percent and car loans at the rate of 7.55 percent, these rates have come into effect from September 1, 2020.

Customers of Punjab National Bank (PNB) can avail these attractive offers of PNB's ten thousand 897 branches across the country or digitally till December 31, 2020.

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State Bank offers Home loans:

Talking about the offer of State Bank of India, the bank is offering three great offers on home loans. Under this, processing fees will not be charged from customers for applying for a home loan. Also, if the CIBIL score is very good, you can get a discount of ten basis points on loans ranging from Rs 30 lakh to Rs 1 crore.

Apart from this, an additional discount of five basis points will be given for applying for a home loan through SBI YONO.

Housing loans are being offered by State Bank of India from July 1, 2020 at an initial interest rate of 6.95 per cent. Also, by applying for a home loan, you can avail a subsidy of up to Rs 2.67 lakh under Pradhan Mantri Awas Yojana on your first home.

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Yogita S.

Yogita S.

Media Graduate, News Editor and PR Enthusiast.

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