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Sunday, Oct 12, 2003

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P&SB's special festival loan scheme

Punjab and Sind Bank has launched a special festival loan scheme under which a salaried person can take a loan five times his net carry-home salary with a ceiling of Rs 1 lakh. For self-employed and professionals, the quantum of loan is 20 per cent of the annual income as per the income-tax return.

PNB lowers rates under flexible deposit scheme

Punjab National bank has cut interest rates under its `Flexible Rate Deposit' scheme by 76 basis points, effective from October 1. The new rates are: 5.16 per cent for three years to less than 5 years, 5.41 per cent for five years to less than 7 years and 5.66 per cent for seven years to less than 10 years.

BL Research Bureau

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