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Punjab National Bank(PNB) Personal Loan Documents Required

You can avail personal loans up to Rs. 15 lakh from Punjab National Bank to meet a wide range of personal financial expenses. PNB personal loan interest rate starts as low as 8.80% p.a. and requires submission of minimal documentation. The following sections discuss details of the documents required to apply for a personal loan from Punjab National Bank.
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Punjab National Bank Personal Loan Documents Required

Applicants need to furnish the following documents to avail a personal loan from Punjab National Bank:

Common Documents:

  1. Duly filled Loan Application Form along with passport size photograph
  2. Proof of Identity with Unique Identification Number
  3. Age Proof
  4. Address Proof

For Military/ Paramilitary Personnel:

  1. Proof of Educational Qualification
  2. Proof of residential address and official address
  3. Proof of Income

For Salaried Individuals:

  1. Form 16 and Latest Salary Slip, duly authenticated by the employer

For Non-Salaried-

  1. IT returns for the last 3 financial years

Common Documents for Demand Loan, Term Loan and Overdraft:

  1. Pensioner`s Portion of PPO in original (to be retained until loan account is liquidated)
  2. For DPDO Pensioners, Letter of authority (in duplicate) to be taken – ANNEXURE – I. The same needs to be sent by registered post to the DPDO along with information in writing regarding disbursement of the loan to the concerned pensioner.
  3. The concerned pensioner must submit an Affidavit stating that he/she shall not change his/her present disbursing branch/bank without bank`s consent. Guarantee – PNB 58 H.

For Demand Loan:

  1. Letter of request cum sanction letter for advance under personal loan scheme for pensioners Ann-I
  2. Letter of Authority Ann-II
  3. Promissory Note- PNB 728

For Term Loan:

  1. Request-cum-sanction Letter for Personal Loan to pensioners- PNB-1112
  2. Term Loan Agreement – PNB-1113

For Overdraft:

  1. Request-cum-sanction Letter for Personal Loan to pensioners-PNB-1112
  2. Overdraft agreement

Note: Any additional document as deemed necessary may be requested by PNB as part of the personal loan application process.

Important Aspects

Given below are some tips that could help you increase your chances of securing a personal loan from Punjab National Bank:

  • Maintain a high credit score: It is one of the first things that lenders look at when lending money to a person. A credit score closer to 900 (usually 750 or above) indicates responsible credit behaviour and a lower risk for the lender and thus, helps increase the chances of approval of your personal loan.
  • Avoid applying for multiple loans at the same time: Avoid applying for multiple loans with several lenders at the same time. This shows you to be credit-hungry and also increases the number of hard enquiries for your credit report, which in turn adversely affects your credit score. This can decrease the chances of approval for your personal loan.
  • Try and meet the lender’s eligibility criteria: Be aware of the lender’s eligibility criteria and ensure your profile matches it before applying for a loan.
  • Employment stability: Having a stable job and history of employment usually indicates sufficient funds to repay the loan and lower risk of default for the lender and thus, helps increase the chances of approval of your personal loan.
  • Low credit utilization ratio: It is the ratio of the amount of credit availed to the available credit limit. Maintaining a low credit utilization ratio (30% or lower) usually indicates higher credit worthiness and thus, enables you to secure additional credit more easily.

Avail Personal Loan for
All Your Needs

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Avail Personal Loan for
All Your Needs

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