PNB (Punjab National Bank) offers personal loan for your various personal needs & requirements like marriage, education, Domestic or foreign travel expenses etc. PNB Personal Loan is offered at affordable rate of interest with less disbursal time period. It offers loans based on MCLR sheet at a minimal processing fees of 1.8% of the loan amount (Exclusive of GST). PNB disburse loan in minimum time possible but as a borrower you need to keep somethings in mind. You first need to know the eligible categories for PNB Personal Loan which are provided below & afterwards other important information related to the same.
Eligibility
All permanent Military/ Para Military Personnel including officials of Military Station Headquarters, BSF, CRPF, CISF, ITBP.
Confirmed/permanent employees of Central/State Govt./PSUs and all reputed companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/Nursing Homes, who are either drawing their salary through accounts maintained with PNB branches or these employers agree for check off facility.
Professionally qualified practicing Doctors viz., MBBS, BDS & above having annual income of ₹ 4 lacs and above. Doctors should be taxpayers for the last three years.
Now that you know if you are eligible for availing loan or not, It’s important to know what all documents are required :-
Duly filled application form with photograph
For salaried persons, Latest salary certificate / form no. 16, Duly authenticated by employer is required.
For non – salaried persons, Copy of receipted ITRs for the last 3 financial years, Age proof, Address proof, Any other information required as per the bank norms.
Loan Amount
Minimum ₹ 50,000/- with a maximum of ₹ 4,00,000 for all borrowers or 20 times monthly net salary whichever is lower subject to minimum Net monthly salary as under:
Metro Centres : ₹ 15,000/-
Urban Centres : ₹ 12,500/-
Semi- Urban/ Rural Centres : ₹ 10,000/-
And ₹ 5,00,000/- or 20 times monthly net salary whichever is lower for those Salaried persons having completed service of 3 years in the present organization & drawing net monthly salary of not less than ₹ 30,000/- per month.
Under PNB Personal Loan For Pensioners, Customers can get up to ₹ 10 lakhs maximum loan for personal requirements.
For employees drawing salary through PNB Bank and completed 3 years of service in the present organization can get a maximum of ₹ 10 lakh or 20 times of Net monthly salary for loan upto ₹ 5 lac and 15 times of Net monthly salary for loan above ₹ 5 lakhs and upto ₹ 10 lakhs.
Subject to Minimum Net monthly salary as under:
Metro Centres : ₹ 50,000/-
Urban Centres : ₹ 40,000/-
Semi- Urban/ Rural Centres : ₹ 30,000/-
For teachers and Defence personnel minimum Net Monthly Income shall be ₹ 7,500/- at all Centres.
Other than the above mentioned, The total amount of loan is determined on the basis of individual repaying capacity.
Features of Punjab National Bank Personal Loan
PNB offers personal loan at low interest rates
It provides quick loan disbursal
Low processing fees with easy documentation process
Convenient repayment tenure
option to avail the Personal Loan in the shape of Overdraft or Term Loan.
No collateral required
Security
Suitable third party guarantee acceptable to the Bank.
PNB Personal Loan Interest Rates
| PNB PERSONAL LOAN INTEREST RATES | ||
| Loans up to 10 lakhs | For individuals whose salary is being disbursed through our branches only (Including Defence Personnel). | MCLR + 3.55% |
| Loans above ₹ 5 Lakhs – ₹ 10 Lakhs | For other categories i.e., applicants not having salary account with our bank irrespective of check off facility.(*Field functionaries are not empowered to sanction these cases.) | MCLR + 4.55% |
| Loans up to ₹ 5 Lakhs | For individuals who are availing the loan under check off facility (Including Defence Personnel) | MCLR + 5.55% |
| For others up to ₹ 5 Lakhs | MCLR + 6.55% | |
Loans n Insurances 