PUNJAB NATIONAL BANK PERSONAL LOAN

Punjab National Bank personal loan is a type of loan offered by PNB to provide financial back to the customers. This loan features different kinds of schemes at competitive interest rates. With the loan amount ranging up to Rs 10 lakh, the bank gives customers a flexible repayment tenure. You will come across different schemes and everything else that you need to know about Punjab National Bank personal loan in this section. 

PNB Personal Loan Interest Rates & Charges

Punjab National Bank Personal Loan Schemes

PNB personal loan provides financial support when you fall short of funds to finance different requirements. You can avail this loan to meet your personal expenses such as heavy bills, domestic or any international travel, wedding expenses of self or any family member, medical bills for treatment of self or any family member etc. 

PNB bank personal loans can be availed under different schemes. Listed below are three different PNB personal loan schemes that you can avail. Each of these schemes vary based on the eligibility criteria, loan amount and many other factors. 

1. Personal Loan for Public

PNB Personal loan for Public can be availed by any salaried person who needs funds to meet any personal requirements such as medical treatment, travel, repairing or fixing in house, marriage of self or family member etc. 

Here are the features and benefits of Punjab National Bank personal loan for public:

• Personal Loan for Public : The personal loan under this scheme is offered to the individuals who are employed at any central or state government body, autonomous body or university etc. Customers who wish to avail this loan should have age below 60 years. 
• Loan Amount : The minimum amount one can avail under this scheme is Rs 50,000 and the maximum loan amount ranges up to Rs 10 lakh. The loan amount is determined by multiple factors such as occupation, salary etc. 
• Repayment Tenure : Customers get to enjoy the repayment tenure of 1 to 5 years under the scheme.
• Security : Customers who apply for this loan have to provide any suitable third-party guarantee/security. 
• Prepayment : You will not be charged any prepayment penalty if you decide to prepay the entire loan amount before the tenure ends.  

2. Personal Loan for Doctors

The PNB personal loan for doctors can be availed by professionally qualified doctors including MBBS, BDS etc. This scheme of personal loan is designed for doctors to meet their personal financial needs. 

Here are the features and benefits of Punjab National Bank personal loan for doctors:

• Personal Loan for Doctors : The personal loan under this scheme is offered to the individuals who are qualified as professional doctors.
• Loan Amount : The minimum amount offered under this scheme is Rs 2 lakh and the maximum loan amount ranges up to Rs 15 lakh. Factors such as repayment capacity of customer, salary etc. can affect the loan amount. 
• Repayment Tenure : Under this PNB personal loan scheme, customers get the repayment tenure of 84 months. 
• Security : Customers who apply for this loan have to provide any suitable third-party guarantee/security. 
• Prepayment : Customers are not charged any fees on making prepayment of the entire loan amount before the tenure ends.  

3. Personal Loan for Pensioners

PNB Personal loan for pensioners is offered to the pensioners. Any individual who draws pension through Punjab National bank can apply for personal loan under this scheme.

Here are the features and benefits of Punjab National Bank personal loan for pensioners:

• Personal Loan for Pensioners : The personal loan under this scheme is offered to all the types of pensioners. The individuals who draw pension from PNB branches are provided with the loan under this scheme. 
• Loan Amount : The minimum loan amount that can be availed under this scheme is Rs 25,000. The maximum loan amount for pensioners varies based on the age of the individual. 
  • The individuals with age up to 70 years can avail up to Rs 10 lakh. 
  • The individuals with age between 70 to 75 years are eligible for up to Rs 7.5 lakh of loan amount.
  • If the individual is above the age of 75 years then he can avail the loan amount of up to Rs 5 lakh
• Repayment Tenure : Customers get to enjoy the repayment tenure of up to 60 months.
• Security : Guarantee of a spouse who is eligible for the family pension or the children who are earning is required by the bank. Any third party guarantee can be provided.
• Prepayment : You will not be charged any prepayment penalty if you decide to prepay the entire loan amount before the tenure ends.  

Documents Required for Personal Loan Application

Here are the documents that are generally required at the time of personal loan application:

Note: The documents mentioned above are basic documents that are generally required in order to proceed with the application. You must contact the bank in order to know the exact requirements that vary across different schemes of PNB personal loan.

COMPARE OTHERS BANK PERSONAL LOAN INTEREST RATE

How to Apply for PNB Personal Loan

You can apply for the PNB bank personal loan offline. To do that, you can visit the nearest branch of Punjab National bank and meet the official to have assistance with the procedure. You need to make sure you carry all the required documents that are to be submitted along with the loan application form. 

How to Calculate EMI of PNB Bank Personal Loan

You Can also calculate personal loan EMI using the formula :

P x R x (1+R)^N] / [(1+R)^N-1]

Where;

• P= Principal or your loan amount
• R= Rate of interest
• N= Tenure (loan term in number of years)

Other Loans Provided by The Punjab National Bank:

FAQs On PNB Personal Loan

Q.1 How can I pay my PNB personal loan EMIs?

There are multiple ways to pay your PNB bank personal loan EMIs. Here are payment options you can opt for making payment of your Punjab National bank loan EMIs:

• Cheque payment at the nearest bank branch
• Electronic Clearing Service 
• Standing Instruction
• Auto-debit

Q.2 How can I check my PNB loan status?

In order to check your PNB loan applications status, you can log into the PNB net banking account and track the status online. Apart from that, you can contact the customer service. You can also visit the nearest branch of PNB bank to enquire about the status of your loan application. 

Q.3 How can I get my PNB loan statement?

You need to log into your PNB net banking account in order to view the loan statements. You can access the statement for your personal loan EMI payments there.