Punjab National Bank Personal Loan

Rated: 4/5
Based on 402 Customer Reviews
Author: Afinoz
Published on: 
Rated: 4/5
Based on 402 Customer Reviews
Author: Afinoz
Published on: 

About the bank

Punjab national bank, commonly recognized as PNB, is one of the India’s well known public sector bank. The bank started its operations in the year 1895 and presently it has more than 5000 branches and over 6000 ATM’s in various cities across the country. PNB is state owned corporation known for offering personal, social, agricultural, international and corporate banking services. Punjab National Bank has received several prestigious awards like “golden peacock business excellence award”, “most valuable Indian brand” etc.

Punjab National BankPersonal Loans

Among its many services, Punjab National bank is known for offering the best personal loans to satisfy the personal needs of all the individuals. Personal loans at PNB are available for salaried, self employed individuals including defense personnel and professionally qualified doctors having relationship with the bank and pensioners drawing their pension through any of the PNB branches in the country. The bank also offers personal loan to LIC agents who receive regular commission from LIC of India and maintain accounts with the branch of PNB. So, if you are looking for funds for home renovation, family’s vacation or for meeting personal financial requirements like marriage expenses, foreign travel or any other miscellaneous expenses, PNB personal loans will fulfill every financial need of yours.

What is Afinoz?

Afinoz.com is India's topmost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on +918795021552 or by emailing at info@afinoz.com. Afinoz.com provides solutions which are quick, reliable, transparent, confidential and above all free.

Feature and Benefits of Punjab National bank Personal Loan:

Punjab National Bank has attractive features and benefits from easy loan approval to higher loan amount with flexible loan tenure. Punjab National Bank provides personal loans with unmatched features and benefits as follows:

  • No restriction on end use of the loan amount as it is a MULTIPURPOSE LOAN
  • Attractive rate of interest
  • Flexible repayment option
  • Loan can be availed for various personal requirements
  • Minimal paperwork
  • Quick processing & disbursal
  • No hidden charges
  • Discounted schemes for existing customer’s

Punjab national bank personal loan eligibility or Punjab national bank personal loan interest rates can be easily assessed through Afinoz. If there is any query about Punjab national bank personal loan application, you should log on to afinoz.com or call us at +91-8795021552 or mail us at info@afinoz.com and get all loan details quickly.

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  • Features and Benefits

    Feature and Benefits of Punjab National bank Personal Loan:

    Punjab National Bank has attractive features and benefits from easy loan approval to higher loan amount with flexible loan tenure. Punjab National Bank provides personal loans with unmatched features and benefits as follows:

    • No restriction on end use of the loan amount as it is a MULTIPURPOSE LOAN
    • Attractive rate of interest
    • Flexible repayment option
    • Loan can be availed for various personal requirements
    • Minimal paperwork
    • Quick processing & disbursal
    • No hidden charges
    • Discounted schemes for existing customer’s

    Punjab national bank personal loan eligibility or Punjab national bank personal loan interest rates can be easily assessed through Afinoz. If there is any query about Punjab national bank personal loan application, you should log on to afinoz.com or call us at +91-8795021552 or mail us at info@afinoz.com and get all loan details quickly.

  • Eligibility & Document Required
    Punjab National Bank Personal Loan Eligibility Criteria:

    Any Indian citizen having a residual income and the ability to repay the loan is eligible for Punjab National Bank personal loans. Eligibility of personal loans in PNB depends upon various factors as follows:

    • All permanent Defense Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Boarder Police, etc. are eligible for PNB personal loans. However, Defense Personnel, who are due for retirement within next 24 months, may not be eligible.
    • 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 are eligible candidates for Punjab national bank personal loan.
    • Professionally qualified practicing Doctors viz., MBBS, BDS having annual income of Rs.4 lakhs and above and have been paying tax since 3 years are also eligible to get loan from PNB.
    • Quantum of Punjab National Bank personal loan:
      • Minimum loan amount Rs.50,000
      • Maximum loan amount for all borrowers is Rs. 4 lakhs or 20 times the monthly net salary whichever is lower subject to the minimum net monthly salary as under:
        • Metro Centers : Rs.15,000
        • Urban Centers : Rs.12,500
        • Semi- Urban/ Rural Centers : Rs.10,000
      • And Rs. 5 lakhs or 20 times monthly net salary whichever is lower for those Salaried persons having completed service of 3 years in the present organization and drawing net monthly salary of not less than Rs.30,000 per month.
      • For employees drawing salary through Punjab national bank and completed 3 years of service in the present organization: Max. Rs.10 lakhs or 20 times of net monthly salary for loan up to Rs.5 lakhs and 15 times of the net monthly salary for loan above Rs.5 lakh and up to Rs.10 lakh Subject to a Minimum Net monthly salary as under:
        • Metro Centers : Rs.50,000
        • Urban Centers : Rs.40,000
        • Semi- Urban/Rural Centers : Rs.30,000
      • For teachers and Defense personnel minimum net monthly income should be Rs.7,500 at all Centers.
      • For pensioners minimum loan amount that can be availed is Rs.25,000
    • Maximum Loan amount:
      • Age up-to 70 years: Rs. 10 lakhs or 18 times of net monthly Pension (For Defense pensioners, 20 times net monthly pension), whichever is lower.
      • Age above 70 years and up to 75 years: Rs 7.50 lakhs or 18 times their net monthly Pension (20 times in case of Defense Pensioners), whichever is lower;
      • Age above 75 years: Rs. 5 lakhs or 12 months of pension amount, whichever is lower
    • Age limit: Required age of salaried applicant for PNB personal loan application is 21 years to the maximum of 58 years at the time of loan maturity whereas for self-employed individuals the age bracket ranges from 21 to 65 years.
    • Years in job/profession: Salaried and Self-employed individuals should have minimum 2 years of job or professional continuity.
    • Guarantor: For salaried and self-employed individuals suitable third party guarantee is acceptable whereas for pensioners, guarantee of spouse eligible for family pension to be obtained or guarantee of earning children (preferably Government Employee) or third party guarantee with net means equal or more than loan amount is acceptable by Punjab National Bank.
    • Eligibility and EMI calculator: Now, you can easily evaluate and calculate your Punjab National bank personal loan eligibility and Punjab National bank personal loan EMI amount using utility tools like personal loan eligibility calculator and personal loan EMI calculator at afinoz.com. These calculators will help you to determine your EMI outflow every month including the interest rate you will need to pay. Using the calculator at Afinoz.com is free, easy and simple.
    • CIBIL score: Credit score is an important factor for approval of your loan. Usually, an applicant’s credit worthiness is determined by evaluating his credit score i.e. CIBIL / EXPERIAN score. Loan applications of applicants having poor credit score may get rejected. It’s always advisable to keep on updating your credit score every now and then. If you have a bad credit score and somehow your loan application gets approved, you might be asked to pay a high rate of interest and be offered unfavorable terms and conditions on your loan as compared to someone who has an excellent credit score.
    Punjab National Bank Personal Loan Documents Required:

    For obtaining the maximum amount of personal loan from Punjab National Bank, a borrower should produce the following documents according to their business profiles as follows:

    Documents required for Punjab national bank personal loan

    Salaried applicant

    Self-Employed applicant

    Loan application form with passport size photographs

    Loan application form with passport size photographs

    Id proof with unique identification number in case of military/ Para military personnel

    Id proof with unique identification number in case of military/ Para military personnel

    Educational qualification proof

    Educational qualification proof

    Age proof

    Age proof

    Proof of official address and residential address

    Proof of official address and residential address

    Income proof

    Income proof

    Latest salary slip

    IT returns for the last three financial years

    Form 16, duly authenticated by the employer

    Latest bank statement

    Apply for Punjab National Bank personal loan online at Afinoz.com. You can call us at +918795021552 or email us at info@afinoz.com.You can check your eligibility and tentative EMI for Punjab National Bank personal loan using our utility tools like personal loan eligibility calculator and personal loan EMI calculator. We assure you of our best services without any hassle and effort at the click of a button from the comfort of your home or office. Once you complete and submit your Punjab National Bank loan application throughAfinoz.com, you can effortlessly track your loan application status on our website on a real time basis, 24x7.

  • Interest Rate & Charges
    Punjab national bank personal loan interest rates, Jan 2018

    General-Interest Rates

    For salaried :- 12.25 to 15.25%
    For self-employed:- 12.60 to 15.60%

    Tenure

    12 to 60 months

    Processing Fee

    1.80% of the total loan amount for salaried and self-employed applicants 
    NIL processing charges for pensioners

    Prepayment charges

    NIL

    Document charges

    For upto Rs. 2 lakhs it is Rs. 270

    Above Rs. 2 Lakhs it is Rs. 450

    For pensioners it is Rs.500

    Special Note: Rates are subject to periodic change . Personal loan interest rates in Punjab National Bank and other fees and charges are subject to regular review and can vary from customer to customer depending upon a number of factors ranging from credit score, to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with Punjab National bank etc.

  • Why Afinoz?

    Why should you apply for Punjab National Bank Personal Loan through Afinoz.com?

    Afinoz.com is one of India's leading personalized financial marketplace. It has created a personal loan platform which lets you choose the best personal loan from the multiple options available to you. All the options are system generated taking into consideration your specific needs and requirements.

    • Instant Approval – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 days.
    • Real-time application tracking – Keep track of the application status in real-time with a unique transaction id which is generated at the time of loan application submission. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
    • Online eligibility check - Do all your dealings with the bank online. Provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Punjab National Bank for your personal financing.
    • Secure Environment - Afinoz.com has a built-in security for your personal information which is stored in a secure environment in our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secure.
    • 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to the bank to discuss loan specifications with bankers.
    • No third-party agent Afinoz.com online loan application process is absolutely free. Through Afinoz one can directly approach multiple banks online without involving any agent and therefore avoiding unnecessary delays and hassles.
    • Free quotations – Get online deals on Punjab National Bank personal loans and free unbiased quotes of the best personal loan rates. All you have to do is select the loan amount you want to borrow and the tenure of the personal loan. You will get a targeted online quote within minutes of application.
  • FAQs

    Query-What is the maximum loan amount obtained from Punjab national bank personal loan?

    Reply- Punjab National Bank can provide a minimum loan amount of Rs.50, 000 up to the maximum amount of Rs. 5 lakhs as per your needs and your eligibility.

    Query- Is prepayment available for Punjab National Bank personal loan?

    Reply-Yes, prepayment is available for Punjab National Bank personal loan and there are no prepayment charges.

    Query-What is the maximum loan tenure for Punjab National Bank personal loan?

    Reply-Punjab national bank personal loan tenure ranges from 12 to 60 months.

    Query-Is security required for Punjab National Bank personal loan?

    Reply- No collateral or security is required for Punjab National Bank personal loan but the applicant can provide suitable guarantors which are acceptable to the Bank.

    Query- Is there a processing fee charged by Punjab National Bank on the personal loan?

    Reply-Yes, a small processing fee of 1.80% of the total loan amount is charged by the bank to the borrower.

    Query-How much interest is charged by PNB on personal loan?

    Reply-Punjab National Bank personal loan interest rates range from 12.25% to 15.25%.

    Query-How much time will it take for my Punjab National Bank personal loan to get approved?

    Reply- If all of your documents are up-to-date and you have by-passed the bank’s eligibility criteria, then you can expect to get your loan approved within 3 to 4 working days from date of loan application submission.

    For any query about Punjab National Bank personal loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at info@afinoz.com.