Financial Daily from THE HINDU group of publications
Friday, Feb 07, 2003
Financial Daily from THE HINDU group of publications Friday, Feb 07, 2003 |
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Money & Banking
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Housing Finance PNB cuts home loan rates Our Bureau
NEW DELHI, Feb. 6 PUNJAB National Bank (PNB) has reduced interest rates on housing loans with effect from February 10. The new rate under the floating option shall be 8.50 per cent (8.25 per cent under FinBasket scheme) for loans repayable up to 5 years, 9 per cent (8.50 per cent under FinBasket) for loans repayable above 5 years and up to 10 years, 9.50 per cent for loans repayable above 10 years and up to 20 years and 10 per cent for loans repayable above 20 years and up to 25 years. Under "PNB FinBasket scheme," the bank offers a combination of retail loans. Under the fixed option, the rate of interest will continue to be 9.25 per cent on loans repayable up to 5 years, 10.25 per cent on loans repayable above 5 years and up to 10 years, 10.50 per cent on loans repayable above 10 years and up to 20 years and 11 per cent on loans repayable above 20 years and up to 25 years.
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