PNB Festival Bonanza Offer: The lockdown in the country during the Corona period has seen a significant negative impact in the banking sector, like other sectors. Due to the lockdown, the economic condition of most of the citizens had deteriorated, with many banks offering various kinds of offers for the purpose of improvement. Punjab National Bank, which is counted among the big banks in the country, is also offering festival Bonanza Offer to its customers. The bank believes that the offer will prove beneficial to both customers and the bank.
Why go offer it necessary?
When asked about the Festival Bonanza Offer being offered by the Punjab National Bank (PNB), the bank responded that the lockdown caused by coronavirus has worsened the economic system of the people. This has led to a significant decline in the demand for loans. The bank is offering this offer to balance the shortfall in demand for loans. This will enable customers to trend on the bank’s loan plans (PBN Bank Loan Plans) so that once again the demand for loans will be created.
What’s The Festival Bonanza Offer
The Festival Bonanza Offer is being offered by the Punjab National Bank and the customers are being exempted from the document charge in loan plans like housing loan and car loan. The Punjab National Bank (PNB), while announcing the festival Bonanza offer, said that the bank can avail this offer by 31st December 2020 through all the 10,897 branches and digital medium in the country. Under this offer, banks are waiving the processing fee of customers. Not only that, the bank is also giving some other holidays to the customers under this offer.
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Home Loans and Car Loans Get The Best Advantage
The Punjab National Bank, while announcing the offer on social media, said that the festival Bonanza offer will see a lot of excellent discounts in housing loans and vehicle loans to the bank’s customers. For home, a processing fee equal to 0.35 per cent will be waived in the home loan being taken. Customers will also get a discount of 0.25 per cent on the same car loan. Both loans do not even look for document fee. If a person wants to borrow against the loan against the property, he can save up to Rs 1 lakh in terms of the amount.
Loan interest rates also fall
Like other banks, the Punjab National Bank is also declining its interest rates to increase the demand for loans at present. The interest rate of Punjab National Bank has been much lower than before. Since September 1, 2020, Punjab National Bank has been offering home loans to customers at the rate of 7.10 per cent and car loans at the rate of 7.55 per cent.
Economy recovery will also help
Referring to the offer, the bank said the epidemic has had a very negative impact on customers. The bank believes that by offering glad rags season, customers will once again be ready to take the loan so that the total expenditure will see the revival. This will see a positive impact in the bank’s credit portfolio and also help in recovering the country’s deteriorated economy.
