Punjab National Bank Personal Loan EMI Calculator will help you to find out your Personal Loan EMI and interest cost based on your loan amount, tenure and interest rate. It will help you to choose your loan amount and loan tenure based on your repayment capacity.
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
EMI Payment Comparison of top Banks/NBFCs in India
The following table gives a comparison of the monthly payments (EMIs) of popular banks in the country for varying loan amounts, interest rates and tenures:
| Bank Name and Interest Rate | EMI Payout for Loan Tenure of 1 Year | ||
| Loan Amount of Rs. 1 lakh | Loan Amount of Rs. 3 lakh | Loan Amount of Rs. 5 lakh | |
| PNB @ 8.95% p.a. | Rs. 8,743 | Rs. 26,228 | Rs. 43,714 |
| SBI @ 9.60% p.a. | Rs. 8,773 | Rs. 26,319 | Rs. 43,865 |
| HDFC @ 10.50% p.a. | Rs. 8,815 | Rs. 26,445 | Rs. 44,074 |
| ICICI @ 10.50% p.a. | Rs. 8,815 | Rs. 26,445 | Rs. 44,074 |
| Axis @ 11% p.a. | Rs. 8,838 | Rs. 26,514 | Rs. 44,191 |
| Citibank @ 9.99% p.a. | Rs. 8,791 | Rs. 26,373 | Rs. 43,956 |
Also Check: Which bank gives lowest interest rate for personal loan?
Punjab National Bank Personal Loan EMI Calculation
The EMI payable on PNB personal loans is calculated using the reducing balance method of interest calculation. EMI calculation for PNB personal loans using varying combinations of loan amount, tenure and interest rate is given below:
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure (months) | EMI (Rs./month) |
| 1 lakh | 11% | 12 | 8,838 |
| 2 lakh | 13% | 36 | 6,739 |
| 3 lakh | 17% | 60 | 7,456 |
| 4 lakh | 20% | 48 | 12,172 |
| 5 lakh | 15% | 24 | 24,243 |
Also Know: What is the PNB pre-closure fee for a personal loan?
Factors Affecting Punjab National Bank Personal Loan EMI
Some key factors which affect PNB personal loan EMIs are discussed below:
- Loan amount: The amount of money that you borrow from the lender is known as loan amount/loan principal. Generally, as the loan amount increases, the EMI payout also increases and vice versa.
- Interest rate: It is the rate at which interest is charged on the loan amount by the lender. Generally a higher interest rate leads to higher EMI payouts.
- Loan tenure: It is the period over which the repayment of the loan can be done. Usually, a shorter repayment tenure results in higher EMI payouts. However, it may lead to lower interest payout.
- Interest calculation method: The method used to calculate interest also affects the EMI payouts. EMIs computed using the reducing balance method are slightly lower as compared to EMIs calculated using the flat rate method.
Also Read: What are the 6 Factors that Affect Your Personal Loan Interest Rates?
FAQs
Q1. Can I pay my PNB personal loan EMIs online?
Yes, you can pay your PNB personal loan EMIs online via Net Banking.
Q2. Is there an option to autopay my PNB personal loan EMI?
Yes, you can choose to autopay your PNB personal loan EMIs by opting for the ECS facility.
Q3. Does the EMI calculator show the prepayment charges?
No, the EMI calculator does not show the prepayment charges. However, you can check the prepayment charges in the loan agreement provided by the lender.
Q4. What is floating rate EMI calculation?
Floating interest varies with market fluctuations and changes in RBI policies. So when EMIs are calculated using floating interest rate it is known as floating rate EMI calculation. For example, the repo rate influences Repo Linked Lending Rate (RLLR). Whenever RBI changes the repo rate, a similar change is reflected in the loan interest rate. Currently the floating interest rate mechanism is not applicable to PNB personal loans.
Q5. Can PNB personal loan EMIs be paid in cash?
No, PNB personal loan EMIs cannot be paid in cash.
Q6. How to arrive at the right EMI amount?
You can arrive at the most suitable EMI for yourself by using the EMI calculator to check different combinations of loan amount, tenure and interest rate. Consider all your outstanding debt and monthly expenditure before finalizing upon the most suitable EMI for yourself that you can easily pay off without disturbing your financial stability.
Q7. Is it possible to reschedule/postpone my EMI?
No, it is not possible to postpone or reschedule your Punjab National Bank personal loan EMI.
Please Note: PNB is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.