Punjab National Bank (PNB) Personal Loan Interest Rates

Personal loan schemes of up to Rs 20 lakh are available from Punjab National Bank at 9.30% p.a. for terms of up to 7 years. It also provides personal loans to retirees at 10.65% per annum for up to 5 years.

To its salaried applicants, the bank provides a personal loan overdraft facility, which will be adjusted within the remaining service duration or within a maximum period of 6 years by lowering the Drawing Power (DP) equivalent to the EMI amount at the beginning of each month.

Characteristics of the Punjab National Bank Personal Loan

Here are some crucial things to assist you in understanding the characteristics of PNB personal loans-

  • To apply for a personal loan, the candidate can go to any of the PNB bank offices. He or she might also contact the bank through phone banking to inquire about a personal loan. The bank will then send a representative to the enquirer's home to provide additional information and complete formalities.
  • Personal loans are available from the bank to both self-employed and salaried individuals. The eligibility conditions are simple to understand and apply to everyone.
  • Personal loans with a maximum term of 5 years are available from the bank at competitive interest rates.

Needed Documents to Apply for a Personal Loan from the Punjab National Bank

While some documents necessary for a personal loan may differ depending on the applicant, the following are some of the important documents required to apply for a personal loan with Punjab National Bank. An applicant may submit any of the papers listed in each category.

  • Passport, Aadhaar, Voter Identity Card, Driving License, and Aadhaar Card are all acceptable forms of PAN Card identification.
  • Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property Purchase Agreement (for owned properties), and Aadhaar Card are all acceptable forms of address evidence.
  • Income documentation includes bank account statements and pays stubs.

Types of Personal Loans from Punjab National Bank

Following are the types of personal loans from Punjab National Bank-

1) Personal Loan for the Public

You should be aware of the following aspects of PNB's personal loan scheme-

  • Any paid individual can utilize this personal loan program to meet a variety of demands, such as paying for their children's schooling, fixing their home, taking a trip, marrying themselves or their children, and so on.
  • This personal loan scheme is open to any salaried employee who has worked for a central or state government body, university, autonomous body, or similar organization.
  • The repayment period can last up to six years.
  • The maximum loan amount can be up to Rs.20 lakh, based on your annual salary and the bank's terms and conditions.

2) Personal Loan for Pensioners

This personal lending arrangement has the following features and benefits-

  • This personal loan scheme is available to PNB customers who have retired from their careers.
  • The minimal loan amount available is Rs.25,000. The highest credit amount available under this personal loan scheme is Rs.10 lakh, depending on the pensioner's age.
  • The repayment period can last up to seven years. If the pensioner is over the age of 75, the repayment period is two years.
  • The goal of obtaining this personal loan is to allow retirees to meet their personal needs, including medical expenditures.

3) Personal Loan for Doctors

This personal lending arrangement has the following features and benefits-

  • Doctors earning Rs.5 lakh or more and who have paid taxes for the past two years are eligible for this personal loan plan.
  • The least loan amount available to a doctor is Rs.2 lakh, while the maximum loan amount available to him/her is Rs.20 lakh.
  • Repayment terms could range from one to seven years.
  • This personal loan can be used by a doctor to cover both personal and professional needs.

PNB Personal Loan Interest Rate 2022

Here is the PNB personal loan interest rate table-

1) Punjab National Bank personal loan rate of interest for Public

Type of Scheme

PNB Personal Loan Interest Rates

For paramilitary/defense personnel paid through PNB (customers under Rakshak Plus Scheme are included.)

10.30%

For government personnel who receive their paychecks through our bank, there is No salary account with PNB for central government gazetted officers.

10.65% - 13.15%

For corporate/other employees withdrawing pay via PNB. For government employees who do not receive their wages through PNB.

11.65% - 15.15%

Loan to employees under the check-off facility.

13.15% - 15.85%

2) PNB personal loan interest rate 2022 for Doctors

Personal Loan Scheme for Doctors: PNB Doctor's Delight 1% discount for applicants who have a salary account with PNB, maintain a receipt collecting account with PNB, or have tangible collateral security equal to 100% of the loan amount.

3) Punjab National Bank Personal Loan Scheme Interest Rates for Pensioners

Type of Scheme

Interest Rate

Personal Loan for Pensioners 

10.65%

4) Punjab National Bank Personal Loan Scheme for the Self-Employed

CIBIL 

Interest Rate

800

11.65%

Less than 800

12.65%

Who is Eligible for the Personal Loan Schemes from Punjab National Bank?

The following are eligible for the Personal Loan Schemes from Punjab National Bank-

1) For Public Schemes

  • For applicants who get paid by PNB: Permanent personnel of state/central government/PSUs with at least two years of service
  • For applicants who use the check-off facility: At least three years of service.
  • LIC agents under the age of sixty:  and also who have been in business for more than five years and have a solid and consistent income, as well as a PNB SF A/c.

2) For Doctor's Schemes

  • Professionally qualified and practicing doctors with a yearly net remuneration of at least 5 lakh rupees.
  • Should have been a taxpayer for the previous two years.
  • The candidate must have lived at his or her current address for at least two years (not applicable to government doctors.)

3) For Self-Employed Schemes

  • Self-employed professionals with a minimum gross yearly revenue of Rs 6 lakh in the previous two years.
  • A CIC Score (credit score) of 750 or more is required.
  • Applicants must have maintained a satisfactory savings fund/current account with PNB for the last two years, with a minimum annual credit transaction in all savings/current accounts of the applicant in PNB/other banks totalling Rs 5 lakh in the previous fiscal year.

4) For Pensioner Schemes

All categories of pensioners who receive their pension from PNB are eligible.

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