The state owned, Punjab National Bank (PNB) has decide to waive of processing fees for home, car and personal loans as a part of festive bonanza.

PNB in a statement mentioned that this offer can be availed by the borrowers from October 9 to November 30. The bank further said that, last month the interest rates on loans were reduced to 10.50% on home loans up to Rs 75 lakh.

The base rate of PNB is currently 10.50 per cent. The base rate is the minimum interest rate of a bank below which it cannot lend.

Along with the concession on interest rates the bank will also be providing a series of concessions and relaxations to meet up the expectations of the public for the upcoming festive season.

The bank said that the car loans could be available at a very competitive rate of 11.5-12%. And loans for purchase of consumer durables will be provided at interest rate of 15% and with no processing fees.