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Honda to partner PNB for car finance
2009-04-21 09:20:06
Last Updated: 2009-04-21 09:23:24
Last Updated: 2009-04-21 09:23:24
New Delhi: Premium car maker Honda Siel Cars India has signed a memorandum of understanding with Punjab National Bank (PNB) to offer finance on its cars.
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Punjab National Bank has agreed to offer a loan amount up to 90 per cent of the "on road car cost".
The public sector bank, which has 4,600 branches, will offer loan to Honda customers for a maximum tenure of seven years.
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According to the bank's Executive Director, Nagesh Pydah, the bank's prime lending rate at 11.50 per cent was among the lowest in the industry, making its retail loans very competitive.
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