Banking News – Prabhu Bank Limited has introduced new home loan and auto loan schemes aimed at providing customers with convenient financing at competitive interest rates for purchasing homes and vehicles.

Under the home loan scheme, customers can obtain financing of up to Rs. 30 million, with a maximum repayment period of 25 years. The bank has fixed the loan service charge at 0.50 percent, while the annual interest rate will be Average Base Rate + 0.50 percent.

The home loan can be used for purchasing houses and apartments, constructing or renovating homes, and purchasing land for residential construction. According to the bank, the scheme is available through its 300 branches across the country.

Similarly, Prabhu Bank has introduced an auto loan scheme targeting customers seeking financing for vehicles for personal use. The loan will be available for a maximum period of seven years, with a 0.50 percent service charge and an annual interest rate of Average Base Rate + 0.50 percent.

The bank has also made arrangements to provide a Delivery Order (DO) within two working days after customers submit all the required documents for the loan. The arrangement is expected to make the vehicle purchasing process faster and more convenient for customers.

Prabhu Bank said the schemes have been introduced with the objective of providing customers with a fast, simple and transparent loan process, along with quality banking services. Customers can obtain further information about the home and auto loan schemes by contacting their nearest Prabhu Bank branch or customer service center. The bank has also made details of the schemes available through its website.