India’s leading public sector lender Punjab National Bank has announced introduction of PNB Divyang Rin, to empower Persons with Disabilities (PwDs) through affordable and accessible financing solutions. The PNB Divyang Rin offers concessional home and vehicle loan to Persons with Disabilities.
PNB Divyang Rin has been launched in partnership with the National Divyangjan Finance and Development Corporation (NDFDC), under which the Bank will provide concessional financing for housing and mobility needs, supported by 100% refinance from NDFDC.
Under the PNB Divyang Rin scheme, eligible citizens can avail home loans of up to Rs 50 lakh for purchase, construction, renovation, or composite housing purposes.
PNB Divyang Rin scheme offers concessional vehicle loans of up to Rs 50 lakh for modified four-wheelers and up to Rs 1.50 lakh loan for two-wheelers.
The maximum combined limit for a customer availing both a Home Loan and a Vehicle Loan is capped at Rs 50 lakh, said PNB.
Key highlights of PNB Divyang Rin scheme
— Concessional home loans and vehicle loans with a maximum combined limit of Rs 50 lakh
— Financing support for modified vehicles for personal mobility (up to Rs. 1.50 lakh for two-wheelers and Rs. 50 lakh for four-wheelers).
— Affordable Simple Interest rates starting from 5% per annum, charged irrespective of the borrower’s CIC score.
— 100% refinance support from NDFDC
— Eligibility for Indian citizens above 21 years with 40% or more disability and valid UDID or UDID Enrolment registration
— Simplified access through PNB branches across the country
“The scheme aligns with the Government of India’s larger vision of inclusive growth and economic empowerment for Divyangjan through institutional credit support. The scheme further strengthens PNB’s commitment towards inclusive banking and socially responsible lending while enabling greater financial participation for Persons with Disabilities,” PNB said.
“By offering concessional interest rates and simplified access to formal credit, the scheme seeks to make institutional finance more affordable and accessible for underserved communities. The initiative is aligned with the Government of India’s vision of inclusive growth and economic empowerment of Divyangjan through targeted financial support,” Subodh Kumar, GM, Retail Asset Business Division, PNB, said.
