What are the schemes of PNB Personal Loan?

Posted by Amir Azam on January 14th, 2021

Punjab National Bank provides multiple unsecured loan options to their customers. PNB offers personal loans to the salaried individual, permanent defence personnel, doctors, or pensioner to fulfil their respective personal and professional needs. The maximum loan amount for PNB personal loan amount is up to Rs. 15 lakh and can be repaid between 12 to 48 months.

Features and benefits of PNB Personal Loan

Here are some of the important features and benefits of a PNB personal loan:

• Various schemes: Punjab National Bank offers various types of personal loan schemes for a specific type of user.

• Loan amount: PNB offers a minimum loan amount of Rs. 25,000 and a maximum of 15 lakh to the user.

• Easy application: The user can apply for PNB personal loan either online or offline according to their convenience.

• Flexible loan repayment period: Punjab National Bank personal loan can be repaid between 12 months to 60 months.

• No hidden charges: The bank charges for its services however, the applicant is informed about all the fees at the time of applying for the personal loan.

Punjab National Bank Personal Loan details

Punjab National Bank offers an attractive rate of interest, one can easily choose and apply for the loan. Some details of HDFC Bank personal loan are mentioned below:

• HDFC Bank personal loan interest rate is starting from 8.95% p.a.

• The loan amount is up to Rs. 15 lakhs

• Loan tenure is up to of 84 months.

• Processing fee: 1%

• Salaried individuals (including Defence Personnel), pensioners, and doctors are eligible for applying for the personal loan.

• The foreclosure charge is nil.

• Personal loan schemes are- Personal loan scheme for Public, PNB Doctor’s Delight, and personal loan scheme for Pensioners.

PNB Personal Loan Eligibility Criteria

• For Salaried individuals

To meet all types of personal financialneeds like medical treatment of self or a family member, marriage of self, son/daughter, study abroad, and more. Here are some eligibility criteria are mentioned for salaried individuals:

• Drawing salary from PNB, it should be a minimum of 2 years of service for Confirmed/permanent employees of Central/State Govt. / PSUs. For others, it should be a minimum of 3 years of service.

• The income of doctors should be a minimum of Rs. 4 lakh and above and salaried individuals should earn a minimum monthly salary of Rs. 30,000.

• He/she should be a permanent employee who is not approaching retirement in the next 2 years.

• CIBIL score must be 750 and above.

• He/she should be a resident of India.

• Interest rate is offered from 11.50% to 14.50%.

• Maximum loan is Rs. 15 lakh

• Loan tenure is maximum 84 months.

• For Pensioners

To provide financial assistance to the individuals drawing pension through Punjab National Bank. The main purpose is to meet personal needs including medical expenses. With the main points of eligibility criteria, one can easily apply for PNB personal loan:

• The minimum loan amount is Rs. 25,000 and the maximum loan amount in such a case-

• The age up to 70 years: Rs. 10 lakhs, or eighteen times of monthly pension.

• Age up to seventy five years is Rs. 7.50 lakh or eighteen times with net monthly pension.

• For security purposes: Guarantee of the spouse is eligible for a family pension to be obtained or guarantee of earning children or third party guarantee net means equal or more than the loan amount is acceptable.

• Repayment of the loan is up to 60 months.

• For Doctor’s loan

The main purpose of PNB Doctor’s loan scheme is to meet the expenses of professional/personal requirements. Here are some points that help you to get PNB Doctor’s loan scheme:

• Professionally qualified practicing/serving Doctors such as MBBS, BDS, and others having Net Annual Income/Salary of Rs. 5 lakh and above are eligible. In this case, doctors should be taxpayers for the last two years.

• Borrowers should have minimum work experience of 2 years in the same company.

• He/she should be a resident of India

• The interest rate should be 9.95% onwards

• Maximum loan amount is up to Rs. 15 lakh

• Loan tenure is maximum 84 months.

Documents required for PNB Personal Loan

Here are some supporting documents for a PNB personal loan may vary from one person to another. The following key documents are required for a personal loan:

• PAN card

• Identity proof such as Passport, Aadhaar, driving license, voter identity.

• Address proof such as Passport, Aadhaar, driving license, voter identity card, electricity bill, sale deed/property purchase agreement.

How to apply for PNB Personal Loan?

Mentioned below are steps required for PNB personal loan online:

• Go to the official site of Punjab National Bank.

• Click on ‘Internet Banking login’.

• A new tab will open then, click on ‘retail internet banking”.

• Then, internet banking details to log in then, you can proceed further to seek any information related to online banking activities.

Conclusion

PNB offers personal loans with basic eligibility criteria, essential documents, less processing fee, and low-interest rate. You can easily choose the personal loan schemes offered by Punjab National Bank and get benefits for the same.