Punjab National Bank cuts car loan rates by 50 basis pointsFebruary 28th, 2009 - 8:06 pm ICT by IANS
New Delhi, Feb 28 (IANS) Public sector lender Punjab National Bank (PNB) has lowered interest rates for car loans by 50 basis points, effective from Sunday.
“The interest rate on car loan would come down from 11-11.5 percent to 10.5-11 percent, with effect from March 1,” PNB said in a statement Saturday.
Earlier this month, the country’s largest lender State Bank of India (SBI) announced that it would freeze interest rates for one year at 10 percent on car loans taken between Feb 23 and May 31.
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