PNB Launches ‘Divyang Rin’ Scheme: Home and Vehicle Loans at 5% Interest for Persons with Disabilities
Punjab National Bank (PNB), one of India’s leading public sector banks, has launched “PNB Divyang Rin”, a concessional home and vehicle loan scheme aimed at empowering Persons with Disabilities (PwDs) through affordable and accessible financing.
The scheme has been introduced in partnership with the National Divyangjan Finance and Development Corporation (NDFDC). Under this scheme, PNB will provide concessional loans for housing and mobility needs, backed by 100% refinance support from NDFDC.
Under the scheme, eligible Indian citizens can avail home loans of up to ₹50 lakh for the purchase, construction, renovation, or improvement of a house.
The scheme also offers concessional vehicle loans for modified vehicles to improve mobility, employment opportunities, and financial independence. Eligible applicants can avail loans of up to ₹50 lakh for modified four-wheelers and up to ₹1.50 lakh for two-wheelers. The maximum combined loan limit for customers availing both home and vehicle loans is ₹50 lakh.
Speaking on the launch, Subodh Kumar, General Manager, Retail Asset Business Division, PNB, said that the scheme reflects the bank’s commitment to providing inclusive banking solutions that help Persons with Disabilities achieve greater financial independence, improved mobility, and home ownership. He added that the concessional interest rates and simplified loan process will make formal credit more affordable and accessible for underserved sections of society.
Key Features of PNB Divyang Rin
- Home and vehicle loans with a maximum combined limit of ₹50 lakh.
- Financing for modified vehicles to support personal mobility.
- Loans up to ₹1.50 lakh for two-wheelers and up to ₹50 lakh for four-wheelers.
- Affordable simple interest rates starting from 5% per annum, regardless of the borrower’s credit score.
- 100% refinance support from NDFDC.
- Available to Indian citizens aged above 21 years with 40% or more disability and a valid UDID card or UDID enrolment registration.
- Easy access through PNB branches across the country.
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