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PNB Personal Loan EMI Calculator 2022

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The full form of PNB is Punjab National Bank. It is one of India's oldest and leading public sector banks. The bank started functioning way back in 1895, and presently enjoys a wide reach across the country with over 5000 branches and more than 6000 ATMs. PNB is a state-owned corporation that offers diverse services in the fields of personal, agricultural, international, social, and corporate banking services. Punjab National Bank has its headquarter in Delhi, and has been the proud winner of many prestigious awards such as “most valuable Indian brand”, “golden peacock business excellence award” and so on.

Personal loan at a competitive rate

You can make all your dreams come true sooner than you can think of, with a PNB personal loan, starting 11.95% onwards. With its quick and transparent personal loan products at competitive interest rates, the PNB personal loan has been able to provide a unique experience to Indian borrowers of late. PNB offers a wide range of personal loan options for both salaried and self-employed individuals, including any pensioners drawing pension through PNB. PNB personal loans are also available to LIC agents, who obtain regular commissions from the LICI and have their accounts in any PNB branch. PNB personal loans are immensely popular as they are highly customized to suit every individual need of the borrowers.

Punjab National Bank Personal Loan EMI

EMI or Equated Monthly Installment is the monthly amount a borrower needs to pay to the Bank against the personal loan availed. This amount needs to be paid on a pre-assigned date every month, until the completion of the personal loan tenure. The same applies to PNB also.

The EMI amount comprises both the principal and the interest amount. This proportion of principal and the interest amount varies every month. Under normal circumstances, the principal component keeps on increasing and the interest component keeps on reducing, with every EMI payment made by you to the Bank.

The PNB personal loan EMI for a borrower depends on the interest rate offered to him. If the borrower opts for a fixed rate of interest, the rate does not change with the corresponding changes in the market. As a result, his EMI remains the same for the entire loan tenure.

As a usual practice, PNB offers unsecured personal loans with a floating rate of interest. The interest rate is liable to be revised as per the MCLR (Marginal Cost of Lending Rate) in a particular point in time plus a spread. PNB applies the spread on the basis of the particular profiles of individual applicants. A few factors may influence the interest rate offered to an applicant. These include his credit score, loan tenure, income level, and the loan amount borrowed, etc. The latest MCLR announced by the PNB are mentioned below-

Punjab National Bank MCLR effective from 1.7.2019

Sl. No

Tenor wise MCLR

Rate effective from 1.07.2019


Overnight MCLR



1 Month MCLR



3 Months MCLR



6 Months MCLR



1 Year MCLR



3 Year MCLR

8.60 %

PNB MCLR for different personal loan schemes

Personal loan schemes

Rate Of Interest (Based On MCLR Of 1 Year)

Loans upto Rs.10 lakh – To those individuals whose salary is being disbursed through its bank branches only (including Defence Personnel).

MCLR + 3.55%

Loans above Rs.5 lakhs & upto Rs.10 lakhs -For other categories i.e., applicants not having salary account with PNB irrespective of their check off facility.

MCLR + 4.55%

Loans upto Rs.5 lakhs -For individuals who are availing the loan under check off facility (Including Defense Personnel)

MCLR + 5.55%

For others up to Rs.5 lac

MCLR + 6.55%

PNB Doctor’s Delight-Personal Loan to Doctors

MCLR + 2%

Concession of 1% where the prospective borrower (Doctor) maintains his/her salary account with PNB or maintain his/her Receipt collection account with PNB or where Tangible Collateral Security of the value of 100% of loan amount.

Why you should use PNB EMI Tool?

  • The PNB personal loan EMI calculator is an extremely easy tool that helps you with accurate calculations.
  • It enables you to know your possible EMI amount well before you avail a PNB personal loan.
  • The information provided by this calculator will enable you to plan the loan repayment over your chosen tenure.

It will also give you a brief idea about your current financial position.

Formula used by a Punjab National Bank Personal Loan EMI Calculator

The PNB personal loan EMI calculator provides detailed information about the EMI amount you would need to pay to the Bank at different stages of your loan tenure. This important tool uses the below-mentioned formula to calculate your EMI-


E = P * r  ((1+r)n -1 )

  1. Where E is the Punjab National Bank personal loan EMI.
  2. P is the amount of personal loan you wish to borrow from the PNB
  3. ‘r’ is the interest rate offered from the PNB. The interest rate per month is applied here, instead of the annual rate. It is calculated by the formula r = (annual interest/12) /100. If the interest rate is 14.5% p.a, then r= 14.5/12/100= 0.01208
  4. ‘n’ is the PNB loan tenure expressed in months. For example, instead of 6 years, 72 months is written.

The inputs required to feed to the PNB personal loan EMI Calculator

You need to feed certain inputs to the PNB personal loan EMI calculator before it can calculate and display the desired result.

  1. PNB personal Loan tenure

This is the time period before the expiry of which you need to repay your personal loan amount to the PNB. You can choose any tenure ranging from 12 to 60 months. The longerthe loan tenure is, the lower is the EMI.

You can use the PNB personal loan EMI calculator to determine the most suitable EMI for yourself. If you feel your EMI outflow is going to give you an undue financial stress every month the EMI calculator can come to your rescue. In the calculator, you may tweak the loan tenure to reach up to the perfect EMI amount to fit your budget requirements. PNB personal loan EMI calculator, provide you with the exact EMI outflow every month. This enables you to do your financial planning sufficiently ahead so that the loan repayment does not impact your monthly budget in a negative way.

  1. Personal Loan amount

This is the amount you wish to borrow from the Punjab National Bank and the Bank calculates the interest payable on this amount. You will have to spend more on EMIs if you opt for a higher loan amount. The PNB considers parameters such as your income level, repayment history, and credit profile before deciding on the personal loan amount to approve. You can know about the most suitable EMI beforehand. Just put the desired loan amount into PNB personal loan EMI calculator.

  1. PNB personal loan Interest Rate

It is the most important component of the EMI calculation process. As you are aware of, it is the rate offered by the PNB to you at which your total interest payable is calculated. The higher is the rate, the more will be your personal loan EMI. These rates may vary from borrower to borrower, as per their credit profiles and other related parameters.

The below-mentioned example will help you to understand the calculations better-

Mrs.Panchali Gupta is looking to availa PNB personal loan of Rs 5 lakhs for a tenure of 5 years. The PNB interest rate charged to her is 11.95% per annum. The following table shows her personal loan EMI, the interest payable and the amount she needs to repay at the end of every year.

Loan Amount

Interest Amount


Monthly Installment

Total Interest Amount

Total Amount

₹ 5,00,000



₹ 44,413

₹ 32,952

₹ 5,32,952

₹ 5,00,000



₹ 23,525

₹ 64,602

₹ 5,64,602

₹ 5,00,000



₹ 16,595

₹ 97,428

₹ 5,97,428

₹ 5,00,000



₹ 13,155

₹ 1,31,423

₹ 6,31,423

₹ 5,00,000



₹ 11,110

₹ 1,66,576

₹ 6,66,576

Also, from the graph shown below, you can easily interpret that the personal loan EMI will be lower if she decides tohavea significantly longer tenure.

Salient Features of the PNB Personal Loan

  • Multipurpose loans: You can use the PNB personal loanamount pretty much for any genuine purpose.
  • Minimum Documentation:  ThePNB personal loan requires only a few basic documents to approve your much-needed personal loan.
  • No security/collateral:  You do not need to pledge a security /collateral to avail a PNB personal loan.
  • Easy repayment options- You can decide to pay the PNB personal loan EMIwith easy and multiple payment options as per your convenience. These options include auto debit, online payment, ECS, PDCs, and so on.
  • Quick processing & disbursal
  • No hidden charges
  • Discounted schemes for existing customers

For any query regarding PNB personal loan, just contact to the customer support team of Punjab National Bank. The well trained and experienced support team is available 24 by 7. You can call at the PNB Personal Loan Toll Free No 1800 180 2222 or 1800 103 2222 at your own convenience.