Punjab National Bank Personal Loan

 

About Punjab National Bank Personal Loan

Founded in 1894, Punjab National Bank (PNB) is a New Delhi based Indian multinational banking and financial services company which has an impressive customer base of more than 80 million people. It has 6937 branches and has 10681 ATM outlets installed across 764 Indian cities. PNB is also the third largest bank of India with an asset base of INR 4.97 trillion.

The bank offers a flexible personal loan scheme for public, enabling salaried and self-employed people to seek immediate funds to meet any kind of personal requirement like medical expenses, wedding and family, education expenses, foreign travel expenses etc. Punjab National Bank personal loan is offered at a relatively lower interest rate, making it one of the most preferred choices for the prospective borrowers. No hidden charges, zero pre-payment penalties, quick loan approval and a low processing fee ensures that all salaried individuals, self-employed professional or pensioners looking for a personal loan never give PNB a miss.

Personal Loan Eligibility Criteria for Salaried / Self-Employed

You should be at least 21 years old at the time of applying for Punjab National Bank personal loan. The maximum age limit is 58 years for salaried individuals and 65 years for self-employed professionals. Salaried people should have a minimum monthly income of INR 10,000 if situated in semiurban and rural centres, INR 15,000 per month if residing in a metro city and INR 12500 if staying in an urban city. In case of self-employed professionals, the monthly minimum income should be INR 20,000. Both salaried and self-employed professionals should have been working in the current workplace/profession for the last two years. Following are the exact eligibility criteria for Punjab National Bank personal loan.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income (Doctors/ Chartered Accountants)

4k – 65k

Minimum Income (Company Secretary / Architect)

4k – 65k

Minimum Income Self Employed (Businessman)

Punjab National Bank Personal Loan Features / Details

The quantum of Punjab National Bank personal loan is decided solely based on the net salary of the individual and for how long he/she has been employed with the current organisation. The extended loan amount can be anywhere from INR 4 lakh to INR 10 lakh. The normal tenure of the loan is 60 months and the spouse’s income can also be included at the time of ascertaining the repayment capacity. The bank charges very nominal interest rates, making it a very competitive product in the personal loan marketplace. It’s one of the few lenders that calculates personal loan interest rate on a daily reducing balance basis, thus giving maximum benefit to the borrower. Following are the exact Punjab National Bank personal loan features.

18.25%

Interest Rate (Min)

Upto XX Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

Punjab National Bank Personal Loan Fees / Charges

A processing fee of 1.8% of the loan amount is charged on all personal loans extended by the Punjab National Bank. Apart from that, documentation charges of INR 270 or INR 450 are also levied on personal loans of up to INR 2 lakh and over INR 2 lakh respectively. PNB is well-recognised for its transparent services and their personal loans come with zero prepayment charges. There are no hidden charges either. You can learn more about the exact Punjab National Bank personal loan fees / charges below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees