Are you looking for a reliable and affordable personal loan? Punjab National Bank Personal Loan is an excellent choice for individuals seeking financial assistance for weddings, medical emergencies, home renovations, travel, or debt consolidation. With a PNB personal loan, customers can enjoy flexible loan amounts, competitive interest rates, and hassle-free repayment options, making it a preferred choice for borrowers.
In this blog we will cover all about Punjab National Bank personal loan, we will explore its major features, interest rates, eligibility criteria and other details. So let get started!
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Key Features of Punjab National Bank Personal Loan
Punjab National Bank offers a range of personal loans to meet different types of financial needs. Some of the major features of PNB personal loans are the competitive interest rates, flexible repayment tenures, simple and quick application process etc. Check in detail about some of the major features of Punjab National Bank personal loans below:
| PNB Personal Bank | Major Features |
| Type of Loans | Personal Loan Scheme for LIC employees Personal Loan Scheme For Public Personal Loan Scheme For Doctors Personal Loan for Pensioners |
| Maximum Loan Amount | Up to 24 times of net monthly income (Max INR 20 lakh) |
| Repayment Period | Up to 6 years |
| Rate of Interest | 12% to 17.95% |
| Application Link | Click here to apply |
Make sure that your CIBIL score is good as the bank may reject the loan immediately if you have derogatory marks on credit reports.
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Types of Punjab National Bank Personal Loan
PNB offers different personal loan schemes to cater to various customer needs. Below are the available options for Punjab National Bank personal loan:
- Personal Loan Scheme for Public: This scheme is ideal for salaried professionals and employees of government or reputed private organizations who need financial assistance without collateral.
- PNB Doctor’s Delight – Personal Loan for Medical Professionals: A specially designed loan for registered medical practitioners, offering higher loan amounts with flexible repayment tenure.
- Personal Loan Scheme for Pensioners: This scheme provides financial support to pensioners receiving their pension through Punjab National Bank.
PNB Personal Loan Eligibility Criteria
The eligibility criteria for a Punjab National Bank personal loan must be fulfilled for taking a personal loan. Some of the major eligibility criteria are that the applicants must be salaried individuals, self-employed professionals, or pensioners with a steady income. Check more details on PNB personal loan below:
- CIBIL Score must be good i.e. above 700. Interest rates will be increased with low credit scores.
- Salaried applicants should be between 21 to 58 years old, while self-employed individuals can apply up to 65 years of age.
- Minimum 3 years of employment with current employer or overall 3 years of experience with multiple employers.
- All confirmed or permanent employees of the Central/State Government, PSUs, and reputable organizations with salary being credited in PNB are eligible.
- Such individuals must have a minimum of 2 years of service and must receive their salary through accounts maintained with PNB branches.
PNB Personal Loan Interest Rate
PNB personal loan interest rates vary depending on multiple factors such as the organisation where the applicant is working, CIBIL score, loan amount, loan scheme selected etc. The interest rate gets higher if your CIBIL score is low. Any personal loan with low CIBIL score attracts a high rate of interest. Check below the Punjab National Bank personal loan interest rate:
| PNB Personal Loan | Rate of Interest (Floating) | Rate of Interest (Fixed) |
| Personal loan for defence or paramilitary personnel drawing salaries through PNB | RLLR+BSP+2.15% (Presently 11.40%) | 12.40% |
| Personal loan for govt employees with salary account in PNB | RLLR+BSP+2.50% (Presently 11.75%) | 12.75% to 15.25% |
| Personal loan for govt employees not having salary account in PNB | RLLR+BSP+2.50% (Presently 12.75%) | 13.75 to 15.25% |
| Loan to employees under the check-off facility | RLLR+BSP+5.50% (Presently 14.75%) | 15.75% to 17.95% |
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How to Apply for Punjab National Bank Personal Loan?
You can apply for PNB personal loan online through the official website or by visiting the branch. You just need to fill out a loan application form and submit the required documents. The bank will check the details, verify the documents and start the approval process for the personal loan. Check the steps involved in applying for Punjab National Bank personal loan below:
- Visit the official website of the Punjab National Bank
- Go to the personal banking section and select loans
- Select the relevant scheme of the loan e.g. PNB Sahyog Rin – Personal Loan Scheme For Public
- Fill out the loan application form and upload the relevant documents i.e. Aadhaar Card, PAN Card, salary slips and bank statements for the last 3 months, details of employment, ITR (for self-employed individuals) and any other as applicable
- Submit the form and wait for the bank to verify it
- Track the loan application online
Punjab National Bank offers quick personal loans under various categories. If you have a good CIBIL score and less existing debt, the bank will quickly approve the loan with a low rate of interest. Check some FAQs based on PNB personal loans below.
FAQs on Punjab National Bank Personal Loan
PNB personal loan interest rates range from 12% to 17.95%. The specific rate depends on factors like the loan scheme, the applicant’s employment status, and credit score.
Punjab National Bank Personal Loan is available to salaried individuals, self-employed professionals, and pensioners with a stable income. Salaried applicants should be between 21 and 58 years, while self-employed individuals can apply up to 65 years. A good CIBIL score and a stable income enhance the chances of loan approval.
The maximum loan amount is up to 24 times the net monthly income, with a maximum limit of INR 20 lakh.
The repayment tenure for PNB personal loans is flexible, ranging from 12 to 60 months.
You can apply online through the PNB website or by visiting a branch. Simply fill out the application form and submit the required documents like Aadhaar, PAN, salary slips, and bank statements.
To improve your chances of getting a Punjab National Bank personal loan, it is recommended to have a CIBIL score of 700 or above. A higher score not only enhances loan approval chances but may also help secure better interest rates.
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