PNB and SBI introduce new offers, applicable from September

New Delhi: India’s two major banks State Bank of India(SBI) andPunjab National Bank (PNB) has started its tactics to attract customer.

India’s second largest government bank, PNB has announced a mega ‘Festival Bonanza Offer’ for its customers. Under the offer, the bank has announced to waive upfront or processing fees and documentation charges on important retail products such as housing loans and car loans.

Along with it, it has also been decided to waive processing fees on new and takeover loans. Customers can avail these attractive offers till December 31, 2020 through 10,897 branches of PNB or digital medium across the country.

PNB said that the bank is currently offering home loans at the rate of 7.10 percent and car loans at the rate of 7.55 percent. These rates are effective from September 1, 2020.

On other hand SBI has brought three great offers on home loans. Under this offer, you will not have to pay processing fees for applying for a home loan. At the same time, if your CIBIL score is very good, you can get 10 basis points discount on loans ranging from Rs 30 lakh to Rs 1 crore.

Apart from this, on applying for home loan through SBI YONO, you will get an additional discount of 5 basis points. From July 1, 2020, State Bank of India is offering housing loans at an initial interest rate of 6.95 per cent.

One can also avail subsidy of 2.67 lakhs by applying for a home loan under the Pradhan Mantri Awas Yojana on your first home.