PNB Gets Green Signal To Collects Rs 6,000 Crore Via Bonds

Punjab National Bank's (PNB) board met on Friday, approved the raising of the capital of up to Rs 6,000 crore via issuance of Basel-III compliant Additional Tier-1 (AT-1) Bonds and Additional Tier-II bonds or a combination of both.

Punjab National Bank has said that the Bank has waived all service charges and processing expenses on retail items as part of its festival season offering.

According to a press release, the bank has designed a festival bonanza offer to increase the availability and affordability of loans for users.

PNB now offers an attractive interest rate starting at 6.80 per cent on home loans and 7.150 per cent on vehicle loans, according to the bank.

PNB would waive all service/processing fees and paperwork charges on its retail products, including home loans, vehicle loans, property loans, personal loans, pension loans, and gold loans, as part of the festive offer.

PNB also offers personal loans with rates as low as 8.95 per cent, one of the lowest in the sector, according to the bank.

It also stated that it would offer home loan refinancing services.