Ease of banking services
PNB signs MoU with IndianOil for e-dealer financing Tufte CSS

PNB signs MoU with IndianOil

for e-dealer financing

Offers financial solution at a low-interest rate
to IndianOil's authorised dealers

Thesynergyonline Banking Bureau

NEW DELHI, FEBRUARY 10 :India's leading public sector bank, Punjab National Bank (PNB), On Wednesday signed a memorandum of uUnderstanding (MoU) with India Oil Corporation (IndianOil)to cater to the financing needs of the IndianOil dealers.

The MoU would benefit dealers with credit facilities at lower interest rates, Nil margin, and with minimum or zero collateral requirements through the PNB e-Dealer scheme.

Understanding the financial requirements and providing ease of banking services, PNB electronic dealer finance scheme is a tailormade credit lending product crafted for the IndianOil dealers. The loan can be availed maximum upto ₹ 2.00 Crore with zero-margin.

Punjab National Bank and IndianOil officials exchanging
documents post siging the MoU in New Delhi.

No collateral security

for dealers

Also, no collateral security for the dealer who is having a dealership with IndianOil of 5 years or more. The Existing Proprietorship, Partnership, LLP, Company, Trust, Society, etc. entity having a valid dealership agreement with IndianOil can avail the scheme.

At signing ceremony

PNB signs MoU with IndianOil for e-dealer financing

The MoU is of special significance as Indian MSME sector is gearing up to serve the nation's growing demand in the post pandemic times. PNB, with its offering of the most diverse and customized bouquet of products, is looking forward to bringing value to the entire ecosystem of dealer inventory financing starting with this best-in-class eDealer Scheme with IndianOil. This first of its kind deal will pave the way for future specialty financing products that PNB 2.0 look forward to unveil"

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