State-owned Punjab National Bank on Wednesday announced a festival bonanza offering home loan at 8.5 per cent, a teaser rate to attract new customers. The concessional rate of 8.5 per cent has been fixed for three years for housing loans up to Rs 50 lakh. As per the existing rate-card, loans up to Rs 30 lakh attract a lowest rate of 9.25 per cent with a repayment period of 5 years, while loans above Rs 30 lakh is available at 10 per cent for similar maturity. “Under the offer, housing loans up to Rs 50 lakh will be available at discounted rate of interest of 8.50 per cent under fixed interest rate option across all repayment tenors,” PNB said in a statement.