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NEW DELHI, JUNE 5, 2025
Reaffirming its commitment to environmental sustainability on World Environment Day, Punjab National Bank (PNB), one of India’s leading public sector banks, has announced a special initiative to promote green mobility. As part of this effort, PNB is offering electric vehicle loans at interest rates starting from 8.30 per cent, with an exclusive 0.05 per cent concession compared to rates for non-electric vehicle loans.
This move underlines the bank’s strategic emphasis on green financing, which has witnessed significant traction in recent times. During the last financial year, PNB sanctioned 5,178 electric vehicle loans — a substantial rise over FY 2023-24 — highlighting the growing adoption of eco-friendly transport and the bank’s role in accelerating this transition.
PNB’s green product portfolio also includes a dedicated Solar Rooftop Financing Scheme. Under this offering, customers can avail financing for solar power systems of up to 10 kW capacity. With nil processing and documentation charges, attractive interest rates starting from 6.50%, and flexible repayment options of up to 120 months, the scheme has emerged as a popular choice for promoting sustainable energy solutions.
Customers can conveniently access PNB’s electric vehicle loans through its digital platform by using the “PNB One” app under the Digi Vehicle Loans service, streamlining the application process and enhancing user experience.
Commenting on the occasion, Firoz Hasnain, Chief General Manager, MSME & Retail, PNB, said, “With a rapid increase in electric vehicle loan sanctions, we’re financing a cleaner, sustainable future for generations to come. Our comprehensive green product portfolio exemplifies our belief that banking can be a powerful force for environmental protection.”
Through such targeted initiatives, PNB continues to play a vital role in India’s journey towards a greener, more sustainable economy.
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