Punjab National Bank Personal Loan Eligibility Criteria 2022

Punjab National Bank (PNB) offers various schemes under the personal loan category for individuals to fulfil their personalized needs. Individuals like doctors, government employees and pensioners can get a personal loan from Punjab National Bank. The bank offers up to Rs. 15 lakh personal loan for its customers at the competitive interest rate for up to 60 months.  

Punjab National Bank offers a personal loan under various categories. Eligibility criteria may vary from scheme to scheme.

Employment	All defense personnel including para-military forces, such as Border Security Force (BSF), Central Reserve Police Force (CRPF), Indo Tibetan Border Police (ITBP), and Central Industrial Security Forces (CISF). Permanent employees of central and state government, PSUs and all reputed companies including educational institutions, hospitals, and autonomous bodies who are drawing their salary from any of Punjab National Branch.
Minimum income	Net monthly income should be at least Rs. 15,000 in metro centers, Rs. 12,500 in urban centres, and Rs. 10,000 in semi-urban and rural centers
Credit score	Should have a good credit score
Quantum of finance	Rs. 4,00,000 or 20 times monthly net salary whichever is lower
Residential status	Any Indian
Interest rate	10.45% p.a.to 15% p.a.
Margin	NIL

Employment	Professionally qualified and registered doctor and medical practitioner like MBBS, BDS, MS having net annual income Rs. 5 lakh and above. He/she should be a taxpayer for the last two years and should be residing in the current place for a minimum of 2 years.
Credit score	Should have a good credit score
Residential status	Any Indian
Interest rate	10.45% p.a. to 15% p.a.
Quantum of loan	Minimum loan Rs. 2,00,000/- and the maximum amount of loan Rs. 15,00,000 or 20 times monthly net salary/income whichever is lower
Margin	NIL

Employment	All types of pensioners drawing pension through any of PNB branches
Credit score	Should have a good credit score
Quantum of loan	Varies from applicant to applicant depending on age Age up to 70 years: Rs. 10,00,000/- (Rupees Ten lakh only) or 18 times of monthly pension (For Defence pensioners, 20 times monthly pension) Age between 70 years and 75 years: Rs. 7.5 lakh or 18 times of monthly pension (20 times monthly pension)
Residential status	Any Indian
Interest rate	10.45% p.a. to 15% p.a.

• Age: Age is a very important factor that contributes to your eligibility for a personal loan. Younger applicants who are in their early 20s have more chances of qualifying for a personal loan than people who are in their 50s, because young ones have enough time to earn and repay the loan. 
• Monthly income: Your income directly conveys about your repayment capacity. Generally, income depends on the city you live in and the lenders you are applying with. The higher your income, the better for you. 
• Credit score: Since a personal loan is an unsecured loan, your credit score plays a crucial role in your application for a personal loan. Your credit score shows how responsible you are in handling your debts.  Generally, a credit score of 750 or above is considered perfect a personal loan approval. 
• Job and work stability: While assessing your application for a personal loan, lenders look into your employment type i.e. you work profile and the company you work for. It gives a clear picture of a regular stream of income. A stable job in a government sector or reputed private organization will help you get a personal loan with ease. For a salaried person minimum work experience required is at least 2 years of total work experience and at least 1 year in the current organization. A self-employed person should have minimum 5 years of total experience and at least 2 years of experience in their current business.  

Here is the checklist of documents required for a personal loan from Punjab National Bank:

For salaried employees

• Proof of identity: Passport / PAN card/ Driving license / Voters ID /Aadhaar card 
• Address proof: Ration card/bank statement/sale deed/ property purchase agreement /Utility bill (not more than 3 months old) / Passport - provided the passport has the present address mentioned in loan application form
• Income proof: Salary slips for the last 3 months along with salary certificate 
• Bank statement: Last 6 month’s bank statement showing salary being credit 

For doctors

• Identity proof: Passport / Driving license / Voters ID / PAN card /Aadhaar card 
• Address proof: Leave & License Agreement/ Ration card / Sales tax certificate / Utility bill (not more than 3 months old) / Passport - provided the passport has the present address mentioned in loan application form
• Address proof of the business
• Proof of qualification: Highest professional degree
• Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules audited by a Chartered Accountant 
• Bank statement: Business (current account) statement for the latest 6 months
• Profession continuity proof 

• Step 1 :- Afinoz has designed an easy platform for a personal loan application.
• Step 2 :- Click ‘Apply Now’ button on the personal loan page to apply for a personal loan.
• Step 3:- Now fill the short and simple personal loan application form to check your eligibility.
• Step 4:- You will receive exclusive offers from multiple lenders based on your eligibility. 
• Step 5:- Our customer care executive will call you and tell you about the best offers you are eligible for as per your eligibility.

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