Punjab National Bank(PNB) is an Indian bank and financial services company. This state-owned corporation is known for offering personal, social, agricultural, international and corporate banking services. Moreover, PNB is known for offering the best of personal loans.
Punjab National Bank offers personal loans up to Rs.20 lakh under the ‘Personal Loan Scheme for Public’ scheme at interest rates starting from 8.90% p.a. The repayment tenure extends up to 72 months, and the processing fees levied is up to 1% of the loan amount.
The bank also offers loans of up to Rs.20 lakh under the ‘PNB Doctor’s Delight – Personal Loan Scheme to Doctor’ scheme for a maximum tenure of up to 84 months.
This lender offers personal loans to help you meet your immediate financial expenses. Whether you need to consolidate your debt, pay for your child’s wedding, take off on an exotic vacation, or anything of the sort, personal loans from Punjab National Bank can be availed at attractive rates to help you fulfill your dreams.
| PNB Personal Loan 2024 | |
| Interest Rate | 7.90% – 14.45% p.a.For pensioners- 9.25% p.a. |
| Loan Amount | Up to Rs 20 lakh |
| Tenure | Up to 7 yearsFor pensioners- Up to 5 years |
| Processing Fees | Up to 1% |
Yes, to satisfy the personal needs of all, the bank provides personal loan with unmatched features and benefits. Whether you are looking funds for home renovation, family vacation or for your child’s education, PNB fulfills every financial need of yours. Being a helping hand, the bank fulfills every wish of yours by supporting you financially well.
Punjab National Bank Personal Loan Interest Rates 2024:
| Particulars | Details |
|---|---|
| Interest Rates | 8.95% – 14.00% |
| Loan Amount | INR 50,000 – INR 10 lakh |
| Repayment | 72 months |
| Prepayment Charges | Nil |
| Processing Fees | 1.80% of the loan amount |
1. PNB Sahyog Rin – Personal Loan for Public
| Type | CIC Score | Rate of Interest (p.a.) |
| For paramilitary/defense personals who get salaries through PNB (customers under Rakshak Plus Scheme are included) | NA | 8.90% |
| For government employees getting salaries through our bank For central government gazetted officers having no salary account with PNB | 800 | 9.25% |
| 750 less than 800 Or No credit history | 10.25% | |
| 650-749 | 11.25% | |
| Score less than 650 | 11.75% | |
| For corporate/other employees withdrawing salaries through PNB For government employees not getting salaries through PNB | 800 | 10.25% |
| 750 less than 800orNo credit history | 11.25% | |
| 650-749 | 13.75% | |
| Less than 650 | 13.75% | |
| Loan to employees under check off facility | 800 | 11.75% |
| 750 less than 800orNo credit history | 12.25% | |
| 650-749 | 13.95% | |
| Less than 650 | 14.45% |
2. PNB Doctor’s Delight – Personal Loan Scheme for Doctors
| Type | CIC Score | Rate of Interest |
| PNB Doctor’s Delight-Personal Loan Scheme for Doctors | NA | 8.9% p.a. |
| PNB Doctor’s Delight-Personal Loan Scheme for Doctors1% concession for applicants having salary account with PNBOrMaintains receipt collection account with PNBOrWith Tangible Collateral Security of 100% of loan amount | NA | 7.9% p.a. |
3. Personal Loan for Pensioners
| Type | Rate of Interest |
| Personal Loan for Pensioners (Term Loan/Overdraft/Demand Loan) | 9.25% p.a. |
PNB Processing Fees & Charges
Personal Loan Scheme for Public
| Processing Charges | 1.00% of loan amountFor Defense Personals- NIL |
| Documentation Charges | Up to Rs 2 lakh- Rs 270Above Rs 2 lakh- 450For Defense Personals- NIL |
| Pre-payment Charges | NIL |
Personal Loan to Doctors
| Processing Charges | 0.90% of loan amount |
| Documentation Charges | Rs 450 |
| Pre-payment Charges | NIL |
Personal Loan to Pensioners
| Processing Charges | NIL |
| Documentation Charges | Rs 500 |
PNB Personal Loan EMI Calculator:
Let’s assume. Rakesh Gupta wants to avail a loan of INR 2,00,000 Lakh from this bank at an interest rate of 11% for a tenure of 5 years, to know the EMIs, Interest Outgo and Total Amount Payable of the same, let’s just take a look at the table below.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 2,00,000 | 11% | 1 | ₹ 17,676 | ₹ 12,116 | ₹ 2,12,116 |
| ₹ 2,00,000 | 11% | 2 | ₹ 9322 | ₹ 23,718 | ₹ 2,23,718 |
| ₹ 2,00,000 | 11% | 3 | ₹ 6548 | ₹ 35,719 | ₹ 2,35,719 |
| ₹ 2,00,000 | 11% | 4 | ₹ 5169 | ₹ 48,117 | ₹ 2,48,117 |
| ₹ 2,00,000 | 11% | 5 | ₹ 4348 | ₹ 60,909 | ₹ 2,60,909 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 31,750 | ₹ 20,431 | ₹ 1,68,249 |
| 2 | ₹ 35,425 | ₹ 16,757 | ₹ 1,32,823 |
| 3 | ₹ 39,524 | ₹ 12,657 | ₹ 93,299 |
| 4 | ₹ 44,098 | ₹ 8084 | ₹ 49,201 |
| 5 | ₹ 49,240 | ₹ 2981 | ₹ 0 |
PNB Personal Loan Eligibility Criteria:
To avail the personal loan in Punjab National Bank, you need to fit into the below eligibility criteria.
| Criteria | Salaried | Self-Employed |
|---|---|---|
| Age | Min-21 years, Max-58 years | Min-21 years, Max-65 years |
| Income | INR 15000 per month at metro centres INR 12500 per month at urban centres INR 10000 per month at semi-urban and rural centres | An applicant should have minimum monthly income of INR 20,000 |
| Total years in profession | 2 years | 2 years |
| Years in current residence | 1 year | NA |
PNB Personal Loan Documentation Required:
Next thing on which you need to pay attention is the documentation required to get the personal loan in this bank.
| For Salaried | For Self-Employed |
|---|---|
| Loan application form with passport size photographIdentify proof with unique identification number in case of military/ para military personnelEducational qualification proofAge proofProof of official address and residential addressIncome proofLatest salary slipForm 16, duly authenticated by the employer | Loan application form with passport size photographIdentify proof with unique identification number in case of military/ para military personnelEducational qualification proofAge proofProof of official address and residential addressIncome proofIT returns for the last three financial yearsLatest bank statement |
How to Apply PNB Personal Loan Online?
Interested in applying for PNB Personal Loan? If yes, you would be glad to know that it is quieteasy and a hassle-free process to apply online for the same. Yes, you can get this unsecured loan anytime as per your comfort and convenience.
All you need to do is open the website, fill the required form by entering your personal as well as professional details and then click on the submit button.
Features and Benefits
- Attractive interest rates
- No guarantor/ surety required
- Flexible repayment options
- Loans available for various needs
- Minimal Paperwork
- Quick processing & Disbursal
- Enjoy the convenience of doorstep service
PNB Personal Loan FAQs
1. How to get a personal loan from PNB bank?
You can apply for a PNB personal loan through the bank’s official website or by downloading the bank application.
2. How much time does PNB Bank take to approve a personal loan?
The bank can take anywhere from 24 hours to a week to approve your personal loan application. It depends on the eligibility of the borrower and his CIBIL score.
3. How long does it take to get a personal loan from PNB Bank?
The time taken to approve your personal loan application depends on the authenticity of the documents provided. If your application is error-free, you can get a loan within a few hours to a week.
4. What is the minimum personal loan amount in PNB Bank?
The minimum personal loan amount you can take from PNB bank is Rs. 50,000.
5. Can I take 2 personal loans from PNB Bank?
Yes, you can avail two personal loans from PNB bank. It depends on your eligibility factors, Credit score, your income levels and your existing relationship with the bank.
6. What are the documents required to apply for a PNB personal loan?
The documents required to apply for a PNB personal loan are-
– Identity Proof such as Aadhaar card
– Address proofs such as pan card or voter ID card
– Duly completed loan application form with photographs
– Form 16
– Income proofs such as most recent salary slips
– Income Tax Returns for the previous three financial years ( for self-employed individuals)
7. Who is eligible to take PNB bank personal loan?
The following categories are eligible for PNB personal loan:-
– General public who are permanent employees in the State or Central government
– Pensioners
– Doctors.
8. What documents required for PNB Bank personal loan?
The documents required to apply for a PNB personal loan are-
– ID proofs – Aadhaar card or pan card
– Address proofs- Aadhaar card
– Income proofs- Salary slips or Form 16
– Duly filled application form and photographs
9. How to check my personal loan status in PNB bank?
To verify the status of your personal loan application, you call PNB’s customer service representatives at one of the toll-free lines listed below: 1800 180 2222, 1800 103 2222, 0120 – 2490000, or landline number (011 – 28044907).
10. Who can be your co-borrower in PNB Bank personal loan application?
You can add your parents, spouse, earning siblings or earning children as your co-borrower in PNB personal loan application.
11. What is the minimum CIBIL score required for PNB Bank personal loan in India?
The minimum CIBIL score required for PNB Bank personal loan in India is 750.
12. How to close PNB bank personal loan?
You can raise a request for closing your PNB personal loan by following the below steps-
– Submit the required documents
– Fill the loan closure form.
– Pay the remaining balance with any fines or charges
– Remember to take your NOC for future references
13. How to foreclose PNB personal loan?
You can foreclose your PNB personal loan by directly visiting the branch, or by raising your request on the bank’s website. You need to fill the foreclosure form and pay the required amount.
14. How to pay PNB bank personal loan?
You can pay your PNB personal loan in the form of EMIs by cheque, cash, demand draft or by UPI.
15. How to check personal loan balance in PNB bank?
For any queries related to Personal Loan, a person can check the loan status by contacting these numbers 1800 180 2222/1800 103 2222. You can also go directly to the branch where you applied for a personal loan to speak with your loan officer about the status of your application.