Punjab National Bank announced new lending rates for housing finance and other schemes effective from January 1, 2009. A BPLR of 12 percent is taken as the basis for new rates of interest. For a loan of Rs 20 lacs, PNB now charges 10.75 percent under fixed rate interest and 9.75 percent under floating rate of interest, if the loan is to be repaied within 20 years. For amount above 20 lacs, the rate now stands at 11 percent and 10.25 respectively.
A loan upto Rs 20 lac taken for a maximum repayment period of 5 years would carry a fixed rate of 9.25 percent and a floating rate of 9 percent. If the repayment period is extended upto 10 years, the fixed rate for the same loan amount would become 10.25 percent and the floating rate 9.50 percent. | 
