Punjab National Bank launches home, car loan festival
Punjab National Bank has announced the launch of its “PNB Festival Bonanza Offer 2010” for housing loans and car loans. 
Under the offer, the state-owned bank will offer housing loans up to Rs 50 lakhs at a discounted interest rate of 8.50 per cent under fixed interest rate option (three years) across all repayment tenors, with a proviso that the applicable rate will be base rate in case it crosses 8.5 per cent.
Besides full waiver of processing (upfront) fee and documentation charges, the margin also stands reduced to 15 per cent for housing loans up to Rs 20 lakhs.
A rebated of 0.50 per cent per annum in rate of interest is also offered to prospective car loan borrowers under fixed option.
This offer is valid from August 20 to December 31, 2010.
On NSE, PNB shares were lower by 1 per cent at Rs 1,176.70. The stock saw a high of Rs 1,197 verus a low of Rs 1,173.80.
