PNB Personal Loan (1)

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Punjab National Bank Personal Loan
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General Info

• PNB personal loan is offered to both the salaried
  and self-employed individuals.
• The funds can be used to meet any requirement.
• A collateral-free loan that means no security is
  required for availing this loan.
• It has flexible uses a borrower can fulfill any
  monetary needs.
• Provides special offers to the military,
  para-military, and government employees. The rate
  of interest for government employees and defence
  personnel differ from private salaried employees.

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 Key Features of PNB Personal Loan

• A loan can be availed by both the salaried and
  self-employed.
• The loan amount depends on the type of loan a
  borrower has availed. But in general, it is ? 50K
  to ? 15 Lakhs.
• Offers flexible loan tenure from 12 to 60 months.
• The interest rate of PNB personal loans varies
  based on the many factors like loan amount,
  repayment tenure, the availed type of loan, etc.
• Low processing fees are charged.
• The zero pre-closure charge is levied on PNB
  personal loan.
• PNB offers customized personal loan interest rate
  and special schemes for borrowers working in good
  organizations, banks or government employees, etc.

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Benefits of PNB Personal Loan

• A wide range of personal loans schemes are
  offered for public, doctors, and pensioners.
• Low processing fees are charged.
• Minimum documentation process is involved.
• PNB offers special schemes and discounts for the
  borrowers.
• PNB personal loan has multipurpose usage.
• Offers a Top-up facility. A borrower can get
  top-up on PNB personal loan if he/she has a good
  repayment track record on the existing personal
  loan. Top-up loans are available at a similar
  rate of interest as on the existing personal loan.

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 PNB Personal Loan Interest Rate Calculator

• A borrower can get the competitive rate of
  interest on PNB personal loan subject to an
  assessment of the loan amount, salary, other
  obligations like a company in which a borrower is
  working, loan repayment tenure, etc.

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 Factors which affects PNB Personal Loan Interest
Rate

• Loan Amount  The availed loan amount from the
  bank. Generally, lenders offer a low rate of
  interest on the high amount.
• Income  The salary of the borrower plays a major
  role in the offered interest rate. Income defines
  the capacity of a borrower to repay the loan
  amount. The interest rate is varies based on the
  monthly earnings. Generally, the higher salary
  bracket borrowers are offered personal loans at a
  lower rate of interest.
• Relationship with the Lender  Bank offers
  special schemes, charges, fees and interest rates
  to their existing customers. If a borrower has
  managed his/her accounts and has a good track
  record of the payments can get the benefit of a
  low interest rate on PNB personal loan.
• Loan repayment capacity  Every lender look for
  the repayment capacity of the borrower. PNB also
  checks the repayment capacity of the borrower
  through CIBIL. As it has the credit repayment
  track record of the previous loans. CIBIL also
  provides information about the credit card bills
  payment.

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Eligibility Criteria of PNB Personal Loan

• For Public 
• A borrower should be permanent or confirmed
  defence personnel, such as officials of Central
  Reserve Police Force, Indo Tibetan Border Police,
  Military Station Headquarters, Central Industrial
  Security Force, Border Security Force, etc. 
• It can be availed by the permanent or confirmed
  employee of the State or Central Government,
  Public Sector Units, or reputed institutions or
  colleges including schools, autonomous bodies,
  universities, nursing homes, hospitals, etc.
  those draw their salary via Punjab National Bank
  accounts.
• For Doctors
• Must be a professionally qualified doctor whose
  net annual income is ? 5 Lakhs or above. He/she
  should be a taxpayer for the last two years.
• A borrower should have a continued occupancy at
  the present residence for a minimum of 2 years.
• For Pensioners
• A borrower must be a pensioner who draws pension
  through a PNB branch.

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Documents Required for PNB Personal Loan

• Completed loan application form.
• Passport size photographs.
• Identity proof.
• Proof of residence.
• Form 16 or the latest salary slip if the borrower
  is a salaried individual.
• Last 3 financial years Income Tax Returns.
• Age-proof in case of self-employed individuals.

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Thank You !!!