Punjab and Sind Bank, Hudco tie up

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.

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