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Punjab National Bank (PNB) - Interest rates from 11.40%

PNB Offers three types of personal loan to Indian customers with interest rates starting from 11.40%. Check out their features further by reading on!

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Punjab National Bank (PNB) Personal Loan

Punjab National bank offers personal loans upto Rs 20 Lakhs from an interest rate of 11.40% with tenure upto 72 months to meet all types of personal needs.

Types of Personal Loan and their features

  • Personal Loan for Public
  • Personal Loan for Doctors
  • Personal Loan for Pensioners

Personal Loan for Public – Features

Personal Loan is provided to the salaried to meet their personal needs. People working in Govt/PSUs/Private who are drawing their salary through PNB are eligible for personal loan provided they have two years of experience in the current organization.  For others, a minimum of three years of experience is expected in order to be eligible for loan.

The Maximum loan amount available is Rs. 20 lakhs. The loan amount disbursed to individuals may vary based on their salary.

For self-employed (professional and business personnel), the maximum loan amount disbursed would be Rs. 5 Lakhs. Suitable third party guarantee acceptable to bank is required for personal loan sanction.

Personal Loan for Doctors – Features

PNB Sanctions personal loans for professionally qualified practicing/serving doctors with a net income of more than 5 Lakhs. The doctors should be a tax payer for 2 years. Borrower should have stayed/run his hospital in the current location for a minimum of 2 years. The minimum loan amount would be Rs. 2 Lakhs and the maximum loan amount would be Rs. 20 Lakhs. The maximum repayment for this type of loan would be 84 months. Suitable third party guarantee or tangible collateral security worth 100% value of loan is required.

Personal Loan for Pensioners – Features

It is provided to people who are drawing their pension through PNB. The minimum loan amount is Rs. 25000. For people aged less than 70,  a loan amount upto 10 Lakhs can be sanctioned, for people in the age group 70-75, a maximum loan amount upto 7.5 Lakhs would be given away. People above 75 are eligible for a maximum loan of upto 5 Lakhs. Maximum tenure upto 60 months.

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Eligibility criteria for PNB Personal Loan

  • Must be a Govt. Employees/Private Employees drawing salaries through PNB Bank at an minimal interest rate starting from 11.40.  For people who do not maintain salary accounts with PNB, the interest rates begins from 12.75
  • Must be employed in the current concern for minimum two years atleast
  • For doctors, they should be employed in the current concern for two years atleast and must have a net annual income of Rs. 5 Lakhs and above
  • For pensioners, they must draw pension through PNB
  • For self-employed, gross annual income of Rs 6 lakh for last 2 years Credit Score required of 750+ and above for Self-employed

Interest rates & Charges of PNB personal loan

Loan typeInterest rateProcessing chargesPrepayment chargesDocumentation Charges
Personal Loan Scheme for PublicFrom 11.40% – 16.25%1 % of the loan amount, Nil for defence peopleNil
  • Up to Rs 2 lakh- Rs 270
  • Above Rs 2 lakh- 450
  • For Defense Personals- NIL
Personal Loan schemes for Doctors11.40% for other bank account holders, 10.40% for PNB account holders0.9%  of the loan amountNilRs. 450
Personal Loan schemes for self-employed12.75 – 13.75%1 % of the loan amountNilRs. 500
Personal Loan scheme for Pensioners11.75%NilNilNil

Documents required for Punjab National Personal Bank

For Salaried

  • Proof of Identity – Passport/Driving License/Voter ID/ PANCard
  • Residence Proof – Passport/License Agreement
  • Last one year months bank statement and updated passbook
  • Salary slips for 3 months

For Self-employed

  • KYC Documents – Proof of Identity, Address Proof, DOB Proof
  • IT Returns for the past two years
  • Income Proof
  • Last one year of bank statement for doctors
  • Proof of Residence of Ownership
  • Proof of business continuity

For Pensioners

  • KYC Documents – Proof of Identity, Address Proof, DOB Proof
  • Pensioner`s Portion of PPO in original
  • Letter of authority for DPDO customers

PNB Customer Care

Customers can reach their helpline at 1800 103 2222

Email Support – care@pnb.coin

How to Apply for a Loan at Punjab National Bank?

Get your loan approved in 4 simple steps,

  • Visit https://www.fincover.com/banking/loan/personal/ and select Yes Bank
  • Enter all the required information as requested and Submit your personal loan application
  • Check if your personal loan is approved
  • If approved and verified, the loan will disbursed in few days
Personal Loans by Bank
FAQs
No, the pension loan from PNB is not available for customers who do not have salary account with PNB
PNB currently offers personal loan only at Floating interest. Fixed loans are available only at Marginal Cost of funds-based Lending Rates.
There is a provision for repaying the personal loan in advance without having to pay any prepayment fees at PNB. However, this facility is available only for floating interest rates
You can check through their official netbanking account. If you have applied through Fincover, you can login to your account and then check the status of your loan application
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