PNB launches gold coin sale

Kozhikode, Oct 19: Leading public sector commercial bank, Punjab National Bank (PNB) today launched sale of gold coins imported from Switzerland to the general public.

Talking to mediapersons here Zonal Manager S P Singh said, the hallmarked 24 carat gold coins of 5, 8, 10 and 20 gms with 999.5 per cent purity were available in select 19 branches of the bank in Kerala. The coins certified by Produits Artisques Metaux Preiseux (PAMP) refinery would be made available in more branches if the demand increased, he added.

The price would be announced daily, based on the prevailing London bullion market rate and give a two per cent discount to the customers purchasing 10 or more coins, he said.

Mr Singh also announced waiver of processing fee upto 50 per cent and full waiver of documentation charge on retail schemes such as housing, car, traders, doctors and gold loans among others as a festival bonanza.

Deputy Zonal Manager S M Veerappan said the interst rate for housing loan under floating option would be 8.5 per cent for 10 years. It would be applicable for the festival season of Deepavali, Ramzan and Christmas throughout the country, he added.

In addition the bank also offered, a 50 per cent rebate in locker rent for one year and proposed to launch depository services with on line trading facility at Thiruvanthapuram, Kochi and Kozhikode soon, he said.

Mr Singh said the bank would hold a seminar on 'Security measures in Banks' here on October 25 to deliberate on the importance of enhanced security measures to be adopted in wake of growing burglaries reported from various parts of the state.

UNI