Punjab National Bank cuts car loan rates

Punjab National Bank has reduced interest rates on car loans by 50 basis points applicable from March 1.

Written by Reuters | Mumbai | Published:March 2, 2009 9:15 am

Punjab National Bank said on Monday it has reduced interest rates on car loans by 50 basis points applicable from March 1.

The new car loan rates will now be in the 10.5-11 per cent band.

The bank has also reduced interest rates on retail term deposits by 50 basis points in the time slabs of 46-90 days and 180 days to less than a year from March 1.

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