Punjab National Bank has entered into an agreement with the auto maker Mahindra and Mahindra to offer vehicle finance.

PNB has the largest network of branches ( 4668) amongst the nationalized banks in India and the tie-up between the two would enable both the companies in greater market penetration making loans easily accessible to prospective customers.

According to the agreement, PNB will offer car loans up to the extent of 90% of the on road cost and for a tenure of a maximum 7 years.

According to the chief General Manager of PNB, Ranjan Dhawan, the bank's benchmark prime lending rate ( BPLR) is amongst the lowest in the industry.