The Hindu Business Line : PNB Housing cuts rate to 7.75 pc on all home loans

PNB Housing Finance, as part of a festival offer, has reduced interest to a flat rate of 7.75 per cent for all loans of up to 20 years. The loans would be extended on a monthly reducing balance.

The company said that the interest rate offered is 200 basis points less than the usual card rates. The festival offer is valid up to November 30.

The company has also announced that from January 1, customers under the floating rate scheme could avail themselves of lower interest rate of 9.75 per cent and the interest in their loan account will be charged at monthly reducing balance.

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