New Delhi - To increase business in the festival season, Punjab National Bank (PNB) Tuesday said housing loan of up to Rs 2 crore will attract 10.25 percent interest rate and also announced full waiver of processing fee and documentation charges on housing, car and two-wheeler loans.

Under the festival season bonanza offer for retail loans, housing loans of over Rs two crore will attract interest of 10.50 percent.

The festival bonanza, launched today, would contribute to the growth of GDP and with the onset of festival season, PNB said in a statement.

Further, two-wheeler loan on floating basis would attract interest rate of 12.25 percent. Car loans on fixed basis would attract interest rate of 10.65 percent and 10.50 percent to better rated borrowers on floating basis.

"Full waiver of processing fee and documentation charges on housing, car and two-wheeler loan schemes is also announced for the festival period," the statement said.

The bank said it has announced the festive season bonanza to contribute in the growth of GDP, it added. (PTI)