New Delhi: Following the repo rate cut announcement by Reserve Bank of India (RBI), Punjab National Bank (PNB) on February 20, 2025 (Thursday) announced reduction in interest rates by up to 25 basis points on retail loans. The new rates are effective from February 10, PNB said.
The state-owned bank confirmed slashing rates on car loans, home loans, personal and education loans. “The revised rates apply to a wide range of products, including home loans, car loans, education and personal loans, ensuring that customers continue to receive diverse financing options,” PNB said in a statement.
PNB informed that it has revised the home loan rate to 8.15 per cent under various schemes and the customers can avail the benefit from a complete waiver of upfront processing fees and documentation charges till March 31, 2025.
PNB Home loan: Interest rates start from 8.15 per cent per annum with an EMI of Rs 744 per lakh.
PNB auto loan: The interest rate starts from 8.50 per cent per annum with EMIs as low as Rs 1,240 per lakh. Rates are applicable for both old and new cars.
PNB education loan: The bank has reduced the minimum card rate to 7.85 per cent per annum.
PNB Personal loan: The lender is offering a loan from 11.25 per cent.
Types of Retail loans offered by Punjab National Bank:
Housing Loans
- Digi Housing Loan
- Housing Loan for PNB Pride Customers
- Housing Loan for Public
Personal Loans
- Personal Loan Scheme For Public
- PNB “Swaagat” – New to Bank Personal Loan
- Pre Approved Personal Loans
Vehicle Loans
- Digi Car Loan
- Car Loan for PNB Pride Customers
- PNB Car Loan For Public
- PNB power ride` scheme for financing two wheelers to women
- Education Loans
Education Loan
- PNB Saraswati
- PNB Pratibha
- PNB Kaushal
Gold Loan
- Scheme For Advance Against Gold Jewellery/Gold Ornaments
- Scheme For Advance Against Sovereign Gold Bonds
- Digi Gold Loan
Following the RBI’s repo rate cut, Punjab National Bank (PNB) announced a reduction of up to 25 basis points on various retail loans, effective February 10th, 2025. The interest rate has been cut across home, car, personal and education loans. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
