Punjab National Bank (PNB) Personal Loan Interest Rates Calculator

Punjab national bank is one of the leading government banks in India. Punjab national bank has more than 7000+ branches access across the country. Not only this, PNB ATM’s are located in every state and city of the country. There are more than 10000+ PNB ATM’s across the country. 

We know that PNB is one of the leading financial companies. Therefore, It is good so far in providing financial support to their customers. In this post, we will be talking about Punjab national bank personal loan. PNB offers up to 10 Lakh of the personal loan to the customers. However, the limit depends upon their business, salary and the credit score. Let me add some more information regarding PNB personal loan.

punjab national bank personal loan

PNB Personal Loan Fees:

The personal loan scheme is divided, and it is available for three different groups of people. For example, the personal loan scheme from PNB bank is available for doctors, public and pensioners. You must be thinking that what is the difference? The difference is in interest rates. There are different interest rates charges for every group. Therefore, we are dividing the section.

  • The interest rate and processing fees for processing PNB personal loan for the public are 12% to 15% and 1.80% of the loan amount.
  • The interest rate and processing fees for processing PNB personal loan for the Doctors are 10.45% and 0.90%+taxes of the loan amount.
  • The interest rate and processing fees for processing PNB personal loan for the Pensioners are 11.25% and 0% of the loan amount.

Personal Loan Scheme:

We know that there are three different categories, and the scheme for every category is different. Let me tell you more about the personal loan scheme for every group.

Public:

  • The public can get from Rs 50000 to Rs 4 lac or 20 times their current salary. Whichever is lower.
  • The public can get from Rs 50000 to Rs 5 lac or 20 times their current salary. Whichever is lower. It is for those who have finished serving three years continuously in a company.
  • The public can get from Rs 50000 to Rs 5 lac or 20 times their current salary. Whichever is lower. It is for those who have finished serving three years continuously in a company, also, for those who withdraw their salary from PNB bank account.

Doctors:

  • Doctors can get from Rs.2 lakh to Rs.15 lakh or 20 times monthly income, whichever is lower. 
  • Doctors can get up to Fifteen times of monthly income for loan amounts ranging from Rs.5 lakh and Rs.10 lakh. 

Pensioners:

  • Pensioners can get from Rs.25,000 to Rs.10 lakh or 18x monthly pension for pensioners who are less than 70 years old. 
  • Pensioners can get from Rs.25,000 to Rs.7.5 lakh or 18x monthly pension for pensioners who are between 70 and 75 years old. 
  • Pensioners can get from Rs.25,000 to Rs.5 lakh or 12x monthly pension for pensioners who are older than 75 years of age. 

Read More : PNB Parivar

Eligibility Criteria & Documents Required:

The eligibility criteria of every group are different. Let me explain using points in a particular group.

Public:

  • You must be a salaried person or have a self business.
  • You must have proof of the last six months salary or income.
  • You are continuously working in a company for more than one year or running the business in profit.

Doctors:

  • You must be a qualified doctor, and your annual income should be more than 5 Lac.
  • You should be a professionally qualified doctor and continued occupancy at present residence place.

Pensioners:

  • You must be a pensioner, and you must withdraw pension funds from Punjab national bank.

These are the eligibility criteria for different groups. However, the documents required to process the application are:

  • You should have duly completed loan application form with photographs 
  • You should carry form 16 or latest salary slips in case of salaried individuals 
  • You should have income Tax Returns for the past three years along with address proof and age proof in case of self-employed individuals.
  • Other documents requested by the bank.

Conclusion:

We know that sometimes, it is urgent to borrow funds or take loans usually. It is because of marriage at home, or for the investment or anything. Therefore, To fulfil this immediate needs Punjab national bank comes with a personal loan scheme for everyone. You can check out the eligibility criteria we have mentioned in this post, and if you are applicable, you can apply for a personal loan from PNB.

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