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PNB Personal loans are available with affordable interest rates and adaptable repayment terms. Age, income, employment position, and credit score are some variables that may affect eligibility requirements. Online and in-person branch applications are accepted by PNB for personal loans. The bank also provides quick loan approval and disbursement for clients who meet the eligibility requirements.
Punjab National Bank is one of India’s most renowned financial institutions. Headquartered in Delhi, this Public Sector Banks envelops the country through its 12,248 branches to cater to its customer base of 180 million customers. The Punjab National Bank Personal Loan is a financial product designed by the Bank to provide financial assistance to customers in India for personal purposes such as higher education and medical expenses, wedding loans and home renovations.
The bank has established a convenient procedure so customers can apply for the Punjab National Personal Loan without hassle. One must review the following factors before availing of this loan Product.
| Punjab National Bank Personal Loan | |
| Interest Rates | 10.45% – 16.70% per annum |
| Amount | Up to 20 Lakhs (With respect to the annual income of the applicant) |
| Tenure | Up to 84 Months |
| Processing Fee | Upto 1% of the loan amount |
| Documentation | Minimal |
The borrowers of the Punjab National Bank Personal Loan can avail of the following features and benefits:
The applicant must fall into the following eligibility criteria to apply for a Punjab National Bank Personal Loan.
The fees and charges applied to process Punjab National Bank Personal Loan vary based on the scheme.
| Processing Fee |
|
| Documentation Charge |
|
| Pre-Payment Charges | NIL |
| Processing Fee | 0.9% of the Loan Amount |
| Documentation Charge | Rs 450 |
| Pre-Payment Charges | NIL |
The applicants must maintain the following documents to apply for a Punjab National Bank personal loan.
Punjab National Bank employs the following formulae to compute the EMI amount on the Personal Loan.
EMI = [P x r x (1+r)^n]/[(1+r)^n-1]
Where,
The Punjab National Bank has established various channels through which a customer can raise their queries with the Bank.
| Customer Care Division | Toll-Free Number:
Tolled Number:
|
The bank offers flexible tenure and lucrative interest rates on personal loans to borrowers.
The interest rates offered range based on the scheme and the applicant.
The applicant must produce income proof such as salary slips and other identity proofs.
One can avail of the net banking facility the bank has established to conclude the application online.
The applicant can visit the nearest branch or review their application status online through net banking.
Yes, as this loan product is unsecured, the bank reviews the CIBIL score of the applicant.
One can avail of a loan amount of up to Rs 25 Lakhs.