Punjab National Bank (PNB) has decreased interest rates on all loans – Home Loan, Car Loan, Personal Loan, Education Loan and all other loans. The Home Loan is now available at just 8.15% interest rate. This has been done as the RBI has recently decreased the Repo Rate. Now, the Repo Rate is 6.25%. Banks decide the interest rate on loans on the basis of Repo Rate. As Repo rate has decreased, Banks have also decreased interest rate on loan.
- Home Loan – minimum interest rate is 8.15%.
- Car Loan – minimum interest rate is 8.55% for normal car and 8.50% for e-vehicle.
- Personal Loan – minimum interest rate is 11.15%.
Please note that this is the minimum interest rate. This rate of interest is applicable if you have good CIBIL score. If your CIBIL score is not good then the rate of interest will increase.