Punjab & Sind Bank slashes rate of interest on MUDRA Loans

Punjab & Sind Bank slashes rate of interest on MUDRA Loans

Punjab & Sind Bank  in its endeavour to financially  support &  uplift the  poor sections of the society like Vendors, Hawkers, Rickshaw Pullers, Tea Stall Owners etc.  has  slashed its lending rates for MUDRA beneficiaries under all the three categories i.e.  Shishu, Kishore and Tarun.  Bank will provide credit at Base Rate of 10.00% for  loans upto  Rs.2.00 lac to  micro entrepreneurs who otherwise do not have easy access to Bank credit.

Bank has decided to charge rate of interest of one percent over the Base Rate i.e. 11.00% for the MUDRA loans over  Rs.2.00 lac to Rs.5.00 lac and 1.50% over the base rate (11.50%) for loans above Rs.5.00 lac  to Rs.10 lac.