Punjab and Sind Bank has announced that it has entered into an MoU with Hudco under the scheme of Interest Subsidy for Housing the Urban Poor. Loan amounts from Rs 1 lakh to Rs 1.60 lakh will be made available by the bank. A subsidised rate of interest of 5% will be charged for the full period of the loan, subject to a maximum loan amount of Rs 1 lakh. The bank has already reduced its lending rates for the home loans t o provide impetus to the housing industry. These rates will be effective from today and will remain till year-end.
Punjab and Sind Bank, Hudco tie up
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