PNB Business Loan: Check Interest Rate, Eligibility & Documents Required

1
Punjab National Bank Business Loan
2
Description

• PNB business loans have become a popular choice
  for many business ventures due to its simplified
  documentation, flexible tenures, and lower
  interest rates. Punjab National Bank business
  loans are quick in processing, competitive and
  customized to suit each of your business
  needs.Afinoz.com has an exclusive collaboration
  with PNB bank. So, applying for PNB business
  loan with Afinoz.com makes the process of
  application and approval of loans from PNB much
  quicker and easier.

3
Interest Rates of PNB Business Loan
TYPE CHARGES
Interest Rates 12.60 ( Up to 2 lakhs ) 15.60 ( Above 2 lakhs )
Loan tenure 1 to 5 Years
Documentation Charges Up to Rs. 2 lakhs - NIL Above Rs. 2 lakhs - Rs. 400 per lakh or part thereof Subject to a minimum of Rs 1000 and a maximum of Rs.50000
Prepayment No prepayment permitted until the repayment of 6 EMIs
Prepayment charges 2 of the outstanding prepaid
No due certificate/ No Objection Certificate(NOC) Rs. 150 per certificate
Charges for change in terms conditions 0.02 of the loan amount (Minimum of Rs. 1000 And Maximum Rs. 5 lakhs)
4
Punjab National Bank Business loan eligibility
criteria

• Any individual who is an Indian citizen and has a
  residual income and the ability to repay a loan
  is eligible for PNB business loans. The other
  parameters that a loan seeker must satisfy in
  order to be eligible for getting a business loan
  for new business are mentioned below
• Age of the borrower Minimum age of the applicant
  at the time of applying for a business
  loan should be 21 years and no more than 58 years
  at the time of maturity of the loan.
• Turnover of the company or business should be at
  least 25 lakhs per annum.
• Work experience Minimum of 2 years experience in
  the current field (in case of self-employed
  professionals) and minimum 2 years of business
  continuity.
• Security Besides primary security, the loan may
  be secured by collateral security or any Credit
  Guarantee Scheme
• Business must be drawing a profit for the past 1
  year.
• CIBIL score Loan approval will be difficult if
  your CIBIL score is low. Usually, the loans that
  are approved have a score of 600-750. In some
  cases, if your credit score is low, but your
  business is doing good in recent times then your
  loan application might get approved and you might
  have to pay a high-interest rate and will be
  offered many unfavorable terms and conditions on
  your loan.
• Punjab National Bank business loan eligibility
  calculator Using the business loan EMI
  calculator and business loan eligibility
  calculator at Afinoz.com you can easily calculate
  the exact amount of your monthly installment and
  your eligibility as per your potential.

5
Documents Required for PNB Business Loan

• A business loan from Punjab National
  Bank requires the simplest form of documents
  which can be categorized broadly into two
  categories-Sole Proprietorship Firms and Private
  Ltd. Companies/ Partnership Firms
• Documents for Sole Proprietorship Firms
• ID Proof of the sole proprietor (Any one of the
  following) Passport/ Voter Identity Card/ PAN
  Card/ Driving License/ Job Card/ Aadhaar
  Card/Identity Card (subject to the satisfaction
  of bank)
• Address Proof sole proprietor (Any one of the
  following)Electricity Bill/ Telephone Bill/ Bank
  Account Statement of any other bank/ Letter from
  reputed employer/ Letter from recognized public
  authority verifying the address of the customer
  to the satisfaction of the bank/ Ration Card
• Bank Statements Last 6 months business credit
  statement for loans below Rs. 10 lakhs, while
  last 12 months business credit in case of loans
  up to Rs.10 lakhs and above
• Copy of IT/ P L balance sheet of the enterprise
  for the last 2 years (audited and certified by
  CA)

6
Documents Required for PNB Business Loan
7
Documents Required for PNB Business Loan
8
Why should you apply for a Punjab National bank
business loan through Afinoz?
9
THANK YOU 

• www.afinoz.com