Punjab National Bank Personal Loan Highlights
|Interest rate||Starting at 8.95% p.a.|
|Loan Amount||Up to Rs. 15 lakh|
|Loan Tenure||Up to 84 months|
|Processing Fees||1% of loan sanctioned|
|Eligible Applicant Categories|
|Types of Loans||Personal Loan Scheme for Public, PNB Doctor’s Delight and Personal Loan Scheme for Pensioners|
Punjab National Bank offers multiple unsecured loan options for different groups of individuals as part of its personal loan offerings. If you are a salaried individual or permanent defence personnel or doctor or a pensioner who fulfill their respective eligibility criteria you can avail a Punjab National Bank personal loan to meet various personal and professional needs. The maximum PNB personal loan amount that can be availed is up to Rs. 15 lakh and it can be repaid within a 12 to 84 months period.
Features of PNB Personal Loan
The following are some of the important benefits of availing PNB Personal Loan:
- Various schemes: Punjab National Bank offers multiple types of personal loan schemes that are targeted at specific types of applicant segments
- Loan amount: Starting from a minimum loan amount of Rs. 25,000, Punjab National Bank offers a personal loan of up to Rs. 15 lakh
- Easy application: An individual can apply for Punjab National Bank personal loan either online or offline depending on their preference
- Flexible loan repayment period: PNB personal loans can have a repayment period ranging from 12 months to 60 months with the option of foreclosure making it one of the most flexible ways to borrow
- No hidden charges: The bank charges for its services in a transparent services in a transparent manner, hence an applicant is informed about all fees and charges at the time of applying for a loan
PNB Personal Loan Interest Rates
The following are the interest rates for different types of personal loans offered by Punjab National Bank:
|Type of Personal Loan||Interest Rate (p.a.)|
|For loans up to Rs. 10 lakh (Only for individuals whose salary is routed through PNB branch including Defence Personnel)||8.95% onwards|
|For loans above Rs.5 lakh and up to Rs.10 lakh (For individuals whose salary is not routed through PNB branch)||10.30% onwards|
|For loans up to Rs.5 lakh who are availing the loan under check off facility (including Defence Personnel)||11.80% onwards|
|PNB Doctor’s Delight||8.95% onwards|
|Personal Loan to Pensioners||9.30% onwards|
Personal Loan Scheme for Public
- All permanent Defense Personnel including officials of Military Station Headquarters, Central Reserve Police Force, Border Security Force, Indo Tibetan Border Police Central Industrial Security Force, etc. However, loan request of Defense Personnel, who are due for retirement within next 24 months, may not be entertained
- Confirmed/permanent employees of Central/State Govt./PSUs and all reputed companies/Institutions including Schools, Universities, Colleges, autonomous bodies, Hospitals/Nursing Homes, who are either drawing their salary through accounts maintained with our branches or if these employers agree for check off facility
- Minimum net monthly income for eligibility of Defence personnel and teachers is Rs. 7500 at all centres
PNB Doctor’s Delight
This loan can be availed by professionally qualified practicing/serving Doctors such as MBBS, BDS, etc.
- Applicants must having Net Annual Income/Salary of Rs. 5.00 lakh and above
- Doctors must be taxpayers for at least the last two years
- He/she must have a continued occupancy at their current place of residence for a minimum period of 2 years (not applicable for doctors who are employees of Government/Institutions etc.)
Personal Loan Scheme for Pensioners
This personal loan is available to all pensioners drawing their pension through a branch of Punjab National Bank. Closure of pension account during loan tenure is not allowed.
Types of Punjab National Bank Personal Loan
Personal Loan Scheme for Public
This PNB personal loan is available to multiple categories of applicants and some of its key features are as follows:
|Minimum Loan Amount||Rs. 50,000|
|Maximum Loan Amount||For all borrowers:||Rs. 4 lakh or 20 times monthly net salary whichever is lower|
|For salaried individuals who have completed service of 3 years or more with the current organization||Rs. 5 lakh or 20 times monthly net salary whichever is lower|
|For applicants drawing salary through PNB salary account and have completed 3 or more years of service with the present organization||Max. Rs.10 lakh or 20 times of Net monthly salary for loan up to Rs.5 lakh and 15 times of Net monthly salary for loan over Rs.5 lakh.|
PNB Doctor’s Delight
This personal loan option from PNB is available to privately practicing as well as salaried doctors with recognised qualifications such as MBBS, BDS, etc. Key features of the loan are as follows:
- Minimum amount of loan: Rs.2 lakh
- Maximum amount of loan: Rs.15 lakh or 20 times gross monthly salary, whichever is lower
- Maximum repayment tenure allowed is 84 months
Personal Loan Scheme for Pensioners
This PNB personal loan variant is available to pensioners who have an operational pension account at any Punjab National Bank branch. Key features are:
- Minimum amount of loan: Rs.25,000
- Maximum amount of loan varies by type of pensioner
(i) For age up to 70 years – Lower among Rs.10 lakh and 18 times net monthly pension
(ii) For Defence pensioners aged up to 70 years – Lower among Rs. 10 lakh and 20 times net monthly pension
(iii) For age above 70 years and up to 75 years – Lower among Rs.7.5 lakh and 18 times net monthly pension (20 times net monthly pension in case of Defence pensioners)
(iv) For age above 75 years – Rs.5 lakh or 12 times monthly pension amount, whichever is lower.
Documents Required for Loan Application
While some supporting documents for a personal loan may vary from one applicant to another, the following are some key documents than are required to successfully apply for a personal loan with Punjab National Bank:
- PAN Card
- Identity proof (any one): Passport, Aadhaar, Voter Identity Card, Driving License, Aadhaar Card
- Address proof (any one): Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties), Aadhaar Card
- Income proof: Bank Account Statement, Salary Slips
How to Apply for a PNB Personal Loan with Paisabazaar?
The following steps are involved in the application process for PNB Personal Loan with Paisabazaar:
- Visit Paisabazaar.com and fill out the online application form to know available personal loan offers.
- You will get offers from various banks listed according to your chances of approval.
- Select a prospective lender from the list or contact Paisabazaar for assistance.
- Complete and submit your loan application online.
Personal Loan Verification Process
- After Paisabazaar forwards the online application to the lender, the lender’s representative will make a call to the applicant and schedule to pick up documents for loan.
- Once the documents are submitted to the representative, they will be verified by the lender.
- After verification, you will get another call from the representative with confirmation of loan amount, interest rate and tenure of loan.
- Once you agree with the terms and conditions of the personal loan offer, it will be disbursed according to your lender’s process.
Check PNB Personal Loan Application Status
Punjab National bank allows you to easily check the status your personal loan application online. You can follow the below mentioned steps to check the status of your application:
Step 1: Visit the official PNB website
Step 2: Click ‘Online Services’.
Step 3: Click ‘Loan’ under ‘Online Services’ tab.
Step 4: A new page will open. Now click “Click Here to Check Your Application Status”.
Step 5: Now enter the required details to process further and check your application status.
Fees and other Charges
There are a few charges to consider apart from interest charges when applying for a PNB personal loan. The following table shows some key charges associated with a PNB personal loan:
|Particulars||Personal Loan||PNB Doctor’s Delight||Personal Loan to Pensioners|
|Processing Fee||1.00% of the loan amount|
Nil for Defence Personnel
|0.90% of the loan amount||NIL|
|Documentation Charges||Up to Rs.2 lakh- Rs.270|
Above Rs.2 lakh- Rs.450
Nil for Defence Personnel
How to Login on PNB Portal
Mentioned below are the steps required to login on PNB portal:
Step 1: Visit the official website of Punjab National Bank
Step 2: Click ‘Internet Banking Login’
Step 3: A new tab will open. Click on ‘Retail Internet Banking’
Step 4: Enter your Internet Banking details to login. Now you can proceed further to seek any information related to online banking activities.
PNB Personal Loan Statement
You can either go online or offline to get your PNB Personal Loan Statement.
- You can view and download the statement by simply logging into the PNB online portal using your online banking credentials.
- Alternatively, you can visit the nearest branch of Punjab National Bank and request a physical copy of the personal loan statement. The service might be chargeable in case you opt for a physical copy.
The following table is an illustration of how the EMI of a PNB personal loan varies with respect to loan tenure and interest rates:
|Loan Amount (Rs.) and Interest Rate|
Monthly EMI Payout
|1 Year Tenure||2 Years Tenure||3 Years Tenure||4 Years Tenure||5 Years Tenure|
|1 lakh @ 9.95%||Rs. 8,789||Rs. 4,612||Rs. 3,224||Rs. 2,534||Rs. 2,122|
|2 lakh @ 12.50%||Rs. 17,817||Rs. 9,461||Rs. 6,691||Rs. 5,316||Rs. 4,500|
|4 lakh @ 13.25%||Rs. 35,773||Rs. 19,063||Rs. 13,525||Rs. 10,780||Rs. 9,152|
|6 lakh @ 13.75%||Rs. 53,801||Rs. 28,736||Rs. 20,433||Rs. 16,320||Rs. 13,883|
Also Read more about PNB Bank Personal Loan EMI Calculator.
Comparison of PNB Personal Loan vs. Other Lenders
The following table compares the personal loan offering from PNB to the offering of other leading lenders in India:
|Particulars||Punjab National Bank||Axis Bank||Citi Bank||ICICI Bank||HDFC Bank|
|Interest Rate||8.95% onwards||Starting from 12.00%||Starting from 9.99%||Starting from 11.25%||Starting from 10.75%|
|Tenure||Up to 84 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Rs.25,000 to Rs.15 lakh||Rs. 50,000 to Rs. 15 lakh||Up to Rs. 30 lakh||Up to Rs. 20 lakh||Up to Rs. 40 lakh|
|Processing Fee||Up to 1% of loan amount||2% of loan amount||Up to 3% of the loan amount||Up to 2.25% of loan amount||Up to 2.50% of the loan amount|
Punjab National Bank Customer Care
- You can call on toll free numbers: 1800-180-2222 or 1800-103-2222
- You can send an email to firstname.lastname@example.org with details of your query
- You can visit the nearest Punjab National Bank branch to get your queries/issues resolved
Also read about PNB Bank Personal Loan Customer Care.
Benefits of Applying for Personal Loan at Paisabazaar
- You are provided with a single unified platform where you can compare offers from different lenders based on interest rates and other charges
- Paisabazaar.com features end-to-end assistance from the customer care team so that the application process is smooth and hassle-free.
- Quick documentation and easy processing helps in getting quick loan disbursal
- Check your credit score before applying for personal loan. Usually a credit score above 750 is considered ideal when applying for a personal loan
- Know all the fees and charges associated with the personal loan
- Choose your loan tenure wisely. If the loan tenure is too long you may end up paying a significant amount as interest charges. However, if the tenure is too short it will greatly increase the individual monthly installments
Q1. I am not drawing my pension through Punjab National Bank. Can I apply for PNB’s Personal Loan Scheme for Pensioners?
No, to apply for Personal Loan Scheme for Pensioners, you need to draw your pension from Punjab National Bank.
Q2. I am a doctor. Which PNB personal loan is most suitable for me?
Punjab National Bank offers Personal Loan Scheme to Doctors that is the ideal option to opt for.
Q3. Is it possible to reapply for Punjab National Bank personal loan if my application gets rejected?
It is usually advisable to wait 6 months or longer after your personal loan application is rejected before you reapply. You will have to contact the bank for the same.
Q4. How do I apply for Punjab National Bank personal loan offline?
To apply offline for a PNB personal loan, you have to visit in-person at the nearest branch of Punjab National Bank.
Q5. Whom should I contact if I have any query regarding getting a personal loan through Paisabazaar?
You can contact the customer care team of Paisabazaar at 1800-208-8877 (between 9 am and 9 pm) in order to get answers to all your personal loan related queries. Alternatively, you can send an email detailing your query/concern to email@example.com or WhatsApp us at 851-009-3333.