(PNB) has introduced that it has lowered rates of interest on loans in opposition to gold jewelry and Sovereign Gold Bond (SGB) by 145 foundation factors (bps); that is a part of its festive season choices.

In response to a press launch issued by PNB, the financial institution is now providing loans in opposition to Sovereign Gold Bond (SGB) at 7.20% and loans in opposition to gold jewelry at 7.30%.

“Moreover, PNB has slashed the house mortgage fee which now begins from 6.60%, whereas prospects can avail automotive loans ranging from 7.15% and private loans from 8.95%,” acknowledged the discharge.

Through the festive season, PNB can also be providing a full waiver of service costs/processing price on the loans in opposition to gold jewelry and SGB, much like residence loans and automobile loans introduced lately.

“The financial institution has additionally slashed the margin on residence loans. Therefore, residence mortgage seekers can now avail of loans as much as 80% of the property’s worth with none higher ceiling on the mortgage quantity,” the financial institution acknowledged.

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