Punjab & Sind Bank launches Special Festival Bonanza Scheme for
Housing Loans, Auto Loans & Consumer Loans
Punjab & Sind Bank has launched a “ Special Festival Bonanza Scheme
for Housing Loans, Auto Loans & Consumer Loans ” to enable its
customers to realize their dreams of purchasing a House or Car or
consumer product (s) during the current festival season .The Scheme is
valid upto 31.12.2013.
Explaining the salient features of the Special Festival Bonanza
Scheme for Housing Loans, Auto Loans & Consumer Loans ,
Sh.D.P.Singh,IAS,Chairman & Managing Director of the Bank informed
that the Bank under the scheme of Auto loans is financing 100% “On
Road Price” of the vehicle. The auto loan scheme envisages longest
repayment upto 7 years“with no advance EMI while the interest on loan
is charged on daily reducing balance. Sh Singh further added that no
processing fee is levied on these loans & the auto loans by the Bank
carry lowest EMI of Rs 1712/- per lac. He further informed that the
loan under the scheme is available for business concerns(corporate or
non corporate) besides the individuals.
Regarding housing loans, under the scheme, Sh.Singh stated that these
loans are available for the longest repayment of upto 30 years &
entail lowest EMI of Rs. 896 per lacs (upto a loan of Rs.30 lacs for
30 years ) & that the offer of the Bank for these loans come with
no prepayment charges, no advance EMI & with”Nil” processing charges
while the interest in these cases shall be charged on daily reducing
balance.Sh.Singh also added that the Bank is also offering consumer
loans with 100% waiver of processing fee.
