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PNB Personal Loan Apply 2024: Take PNB Personal Loan now in easy terms, know the complete process

Punjab National Bank Personal Loan Apply 2024: Punjab National Bank is offering personal loans up to Rs 20 lakh to meet the personal needs of its customers with an initial interest rate of 10.40% per annum. If you want to take a personal loan for hospital expenses, home repair, education etc., then this option of Punjab National Bank can be better. By taking a loan from here once, you can repay it in a period of up to 84 months. Read the article till the end to know the interest rates applicable on different credit scores, the application process for personal loan and the required documents.

PNB Personal Loan Apply 2024

Punjab National Bank, a leading bank of the country, provides different types of personal loans to its customers, such as for doctors, for pensioners, for LIC employees, and for senior citizens. The amount of loan and the period for repayment of which is also different for all of them, which will generally be between 5 years to 7 years. A person can get a maximum of Rs 20 lakh as a personal loan. And a processing fee of 1% will also be charged on this.

However, there is no repayment charge or foreclosure charge on Punjab National Bank Personal Loan. Interest rates for common people range from 10.40% to 16.95% per annum. But for pensioners it will be 11.75%. If a doctor with a good CIBIL score takes a personal loan, he will have to pay interest ranging from 9.40% to 10.40% per annum. The interest rate offered by an individual will depend on the individual’s credit score and financial situation.

Punjab National Bank Personal Loan Apply: Overview

Name of article Punjab National Bank Personal Loan Apply
lenderPunjab National Bank
ObjectiveProviding amount up to Rs 20 lakh as personal loan to people.
Beneficiaryall citizens
application systemOnline
official websitehttps://www.pnbindia.in/Home.aspx

Benefits and features of PNB Personal Loan

1. Punjab National Bank provides loan facility to the army personnel without any processing fee.

2. If you choose the option of personal pre-payment then you will not have to pay any charge for it.

3. For non-employed people, a maximum loan amount of Rs 5 lakh can be given for 5 years or till the age of 65 years.

4. Pension holders can take a loan ranging from Rs 25,000 to a maximum of Rs 10 lakh which has to be repaid in 5 years or till they attain the age of 78 years.

5. The beneficiary does not have to deposit any security for PNB personal loan. However, for this a third party guarantee will have to be given.

6. How much personal loan the applicant will get will depend on his monthly income and ability to repay the loan.

Eligibility for Punjab National Bank Personal Loan Apply?

  1. Applicant age should be above 21 years and below 58 years.
  2. The maximum age provision for pension holders is 65 years.
  3. The applicant must be a permanent citizen of India.
  4. The monthly income of the applicant should be at least Rs 15000 per month.
  5. Monthly income of persons living in metro cities should not be less than Rs 25000 per month.
  6. The applicant must have a bank account in Punjab National Bank.
  7. The applicant must have some source of income, such as he or she is a salaried person or is self-employed.
  8. For those who are not employed, the credit score should be more than 750.  

Required Documents

  1. Aadhar card
  2. PAN card
  3. Address proof
  4. driving license
  5. Birth certificate or any other certificate establishing age
  6. Income tax return details of last 3 years
  7. 3 months bank statement
  8. mobile number
  9. Passport size photograph

How to apply for Punjab National Bank Personal Loan?

If you want, you can also apply for personal loan offline by visiting your nearest branch of PNB. To apply online, follow the steps given below –

  • Visit the official website of PNB for online application.
  • Search for Personal Loan in the drop down menu of Products on the home page.
  • CLICK on the Explore Now button below Personal Loan.
  • Now the list of all types of personal loans provided by PNB will appear on your screen.
  • Select the loan as per your choice and click on Apply Now.
  • As soon as you click, another list will appear on the screen, from here choose the type of loan as per your need and proceed further.
  • Now the application form related to your loan will appear on your screen.
  • Enter all the information required in this form and CLICK on SAVE.
  • Now enter other information in the next step as well, and complete all the steps in the same way.  
  • Finally CLICK on FINAL SUBMIT.
  • In this way you will be able to apply for a personal loan.

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