Latest news with #PNBOne
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Business Standard
7 days ago
- Automotive
- Business Standard
Punjab National Bank slashes EV loan rates to 8.30% to drive green mobility
Marking World Environment Day, Punjab National Bank (PNB) on Thursday announced a special push for green mobility by offering electric vehicle (EV) loans at interest rates starting from 8.30%, a 0.05% discount compared to traditional auto loans. In a bid to accelerate India's transition to sustainable transportation, the public sector lender has also made the EV loan process more accessible through both digital channels (via the "PNB One" app) and in-person support. PNB sanctioned 5,178 EV loans in FY 2024–25, registering a strong year-on-year growth in green financing. PNB's green offerings include: Solar Rooftop Financing: For systems up to 10 kW, with rates starting from 6.50%, zero processing fees, and flexible tenures of up to 10 years. 'Banking can be a powerful tool for environmental change,' said Shri Firoz Hasnain, CGM – MSME & Retail, PNB. 'Our expanding green loan portfolio is aligned with India's mission to adopt cleaner technologies and reduce carbon footprints.' Customers can apply via or by visiting their nearest PNB branch.
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Business Standard
07-05-2025
- Business
- Business Standard
Punjab National Bank Q4 results: Net profit rises 51.7 % to ₹4,567 cr
Punjab National Bank (PNB) on Wednesday reported a 51.7 per cent year-on-year (Y-o-Y) increase in its net profit at Rs 4,567 crore for the fourth quarter of financial year 2024–25 (Q4FY25). The net profit was Rs 3,010 crore in the year-ago period. The bank's net interest income (NII) for FY25 stood at Rs 42,782 crore, recording a growth of 6.7 per cent on a Y-o-Y basis. NII increased to Rs 10,757 crore in Q4FY25 from Rs 10,363 crore in Q4FY24. Gross non-performing assets (GNPA) declined by Rs 12,261 crore to Rs 44,082 crore as on March 2025, from Rs 56,343 crore as on March 2024. Net non-performing assets (NNPA) fell by Rs 2,508 crore to Rs 4,291 crore from Rs 6,799 crore over the same period. PNB's operating profit stood at Rs 6,776 crore in Q4FY25 and Rs 26,831 crore in FY25, registering Y-o-Y growth of 5.6 per cent and 7.6 per cent, respectively. The bank's CASA (current account and savings account) deposits rose to Rs 5,73,543 crore, reflecting Y-o-Y growth of 3.8 per cent. PNB's total retail credit increased by 16.5 per cent Y-o-Y to Rs 2,59,363 crore as on March 2025. The bank recorded an 18.2 per cent Y-o-Y rise in core retail advances. Housing loans grew by 18.3 per cent Y-o-Y to Rs 1,16,312 crore, while vehicle loans posted a 25.5 per cent rise to Rs 26,056 crore. Agriculture advances grew by 14.2 per cent Y-o-Y to Rs 1,80,625 crore, and MSME (micro, small and medium enterprises) advances rose by 16.8 per cent to Rs 1,62,693 crore. The RAM (retail, agriculture, and MSME) advances increased by 15.89 per cent Y-o-Y to Rs 6,02,682 crore as on March 2025, from Rs 5,20,050 crore as on March 2024. PNB's number of digital transactions rose to 997 crore in FY25, up from 659 crore in FY24, registering a Y-o-Y growth of 51 per cent. The number of PNB One activated users rose to 214 lakh as on March 31, 2025, from 174 lakh a year ago, a growth of 23 per cent. The number of UPI transactions through PNB One increased to 314 lakh in FY25 from 121 lakh in FY24, marking a 160 per cent Y-o-Y rise. As on March 31, 2025, the bank operated 10,189 domestic branches and 2 international branches. Of the total, 63.4 per cent were located in rural and semi-urban areas.
Time of India
25-04-2025
- Business
- Time of India
PNB launches NIRMAAN 2025 campaign with zero processing fees on home and car loans
Punjab National Bank (PNB), a public sector bank, has announced the launch of its special retail loan campaign, 'PNB NIRMAAN 2025', aimed at making home and car ownership more affordable. The campaign is active and is available across all PNB branches and digital platforms, including the PNB One app and PNB's official website, according to the PNB press release. What is PNB NIRMAAN 2025? 'PNB NIRMAAN 2025' is a time-bound loan offer designed to attract home buyers, car buyers, and students seeking financial assistance. As part of this initiative, PNB is offering a host of exclusive benefits, including: Income Tax Guide Income Tax Slabs FY 2025-26 Income Tax Calculator 2025 New Income Tax Bill 2025 Zero processing and documentation charges on home loans and car loans Zero NEC (No Encumbrance Certificate), legal, and valuation fees for home loan takeovers above a specified amount Interest rate concessions of 5 basis points (bps) on home, car, and education loans. Latest lending rates in April 2025: HDFC Bank, SBI, Bank of Baroda, Canara Bank, Bank of India Latest PNB Marginal Cost of Funds based Lending Rate (MCLR) rates (effective from April 1, 2025): Still confused between New vs Old Tax Regime? Find out which one saves you more with our tax calculator! MCLR W.E.F. 01-04-2025 MCLR TENOR Revised w.e.f. 01.04.2025 Overnight 8.40% One month 8.50% Three month 8.70% Six month 8.90% One year 9.05% Three years 9.35% Revised PNB Repo Linked Lending Rates (RLLR) (effective from April 10, 2025): New RLLR: 8.65% (Repo Rate 6.00% + Mark-up 2.65%) Effective lending rate: 8.85% (RLLR + BSP of 0.20%) Live Events This revised rate will apply to floating rate personal loans, including home loans, auto loans, and MSME loans, with the next interest rate reset due after 3 years from the account opening date. According to the PNB website, 'The RLLR has been changed from 8.90% to 8.65% {Repo Rate (6.00%) + Mark-up (2.65%)} w.e.f. 10th April 2025 for all customers. Along with RLLR, BSP of 20 bps will be charged.' What is RLLR? Repo-linked lending rate (RLLR) is the interest rate at which banks extend loans to customers, based on the repo rate set by RBI. The term 'repo-linked lending rate' refers to an interest rate that is linked to the repo rate. An RBI circular issued in October 2019 mandates that banks link their retail loans to external benchmark lending rates, known as E-BLR. Consequently, the repo rate has become the benchmark for most banks. How to apply for PNB loans under NIRMAAN 2025 Interested customers can apply for loans under the NIRMAAN 2025 scheme by visiting any PNB branch or logging into the PNB One mobile app or website. The streamlined digital application process ensures faster approvals and seamless documentation.
