Punjab National Bank Personal Loan : Punjab National Bank is providing personal loan, in such a situation, the person looking for a loan can apply for a loan in this bank by getting information about how to take a loan from Punjab National Bank. Although Punjab National Bank provides many types of loans, but as you need a personal loan, you can take a personal loan by applying for a personal loan.
Punjab National Bank Personal Loan
Punjab National Bank has set the maximum loan limit for personal loan and it is Rs 20 lakh. In such a situation, if you need a loan of less than Rs 20 lakh for any personal need, then you can take a loan from Punjab National Bank. This bank has opened many branches and this bank also has an official website, so you can apply for this loan from the official website or the nearest bank branch.
Personal loan from this bank is provided for up to 7 years which is a long time. Due to the long time, it will be easy for you to repay the loan and you will be able to deposit the entire loan amount by making small installments.
Key Features of Punjab National Bank Personal Loan
- Loan amount : ₹50,000 to ₹15 lakh.
- Tenure : Loan tenure available from 12 months to 84 months.
- Interest rates : It usually starts from 8.80% per annum. (It depends on the customer’s credit profile and other terms.)
- No Guarantor Required : This loan is available without a guarantor.
- Quick Processing : The application and approval process is fast and easy.
- No limit on purpose : You can use this loan for marriage, medical treatment, travel, education, or any other personal need.
Punjab National Bank Personal Loan Interest Rate and Other Charges
The annual interest rate charged on taking a loan from this bank starts from 11.40%. The interest rate is also changed by the bank, so you must visit the official website once to get the confirmed interest rate information. If we talk about other charges apart from the interest rate, then the processing fee will be up to 1% of the loan amount.
Documents required for Punjab National Bank Personal Loan
You will be given a loan only if you have the necessary documents, so you must have the documents and they must also contain the correct information. You must have documents like identity proof, income proof and residence proof. These will be checked by the bank officials and after that the loan amount will be decided for you and you will be given the loan.
Documents required
The following documents are required for loan application:
- Identity Card (Aadhar Card, PAN Card, Passport).
- Proof of Address (Electricity Bill, Rent Agreement, Ration Card).
- Income proof (salary slip, bank statement).
- Photograph.
Eligibility Criteria
- Age Limit : 21 to 60 years.
- Minimum Income : ₹15,000 per month.
- Employment Status :
- Salaried Employees (Govt., Private Sector).
- Self-employed businessman.
- Credit Score : A CIBIL score of 700 or above offers better prospects.
PNB Personal Loan Comparison with Other Banks
| Parameters | PNB | SBI | HDFC Bank | ICICI Bank |
|---|---|---|---|---|
| interest rate | 8.80% – 14.35% | 9.60% – 13.85% | 10.25% – 16.00% | 10.50% – 17.00% |
| Loan Amount | ₹50,000 – ₹15 lakh | ₹50,000 – ₹20 lakh | ₹50,000 – ₹40 lakh | ₹50,000 – ₹25 lakh |
| Tenure | 12 to 84 months | 12 to 72 Months | 12 to 60 Months | 12 to 60 Months |
| Processing Fees | 0.5% – 1% | 1% | 2% | 2% |
How to Apply for Punjab National Bank Personal Loan
- To take a personal loan from this bank, you have to reach the nearest Punjab National Bank branch.
- You will find employees there, so you have to know the information about personal loan and take the application form.
- After receiving the application form, basic personal and necessary document information has to be entered in it.
- Now the photo copy of the document has to be attached with the application form.
- After completing this work, the application form has to be submitted to the bank.
- In this way, your application will be made in Punjab National Bank and after few days, you will be provided with the loan amount.
Benefits of PNB Personal Loan
- Flexibility : Flexibility in loan amount and tenure.
- Low Processing Fees : Lower charges compared to other banks.
- Reliability : Trustworthy service provided by a government bank.
- Prepayment Option : Facility to repay the loan before time.
Punjab National Bank Personal Loan is ideal for those who want financial assistance with low interest rates and simple process. If you have a good credit score, this loan can be an excellent option to meet your financial needs.
Frequently Asked Questions (FAQs) on PNB Personal Loan
1. How quickly can one get a PNB personal loan?
After completing the loan application process and submitting the documents, the loan amount is disbursed to your account within 3-5 working days.
2. Can I prepay my loan?
Yes, PNB offers you the facility of prepayment. However, a minimum charge may apply for this.
3. Can pensioners avail personal loans?
Yes, pensioners can also avail personal loans from PNB, provided their income is sufficient and they fulfil other conditions of the bank.
4. Will I need a guarantor?
PNB personal loans generally do not require a guarantor.
5. Is it safe to take a loan online from PNB?
Yes, PNB’s official website and mobile app are completely safe, from where you can apply for a loan online.
conclusion
If you are looking for a loan, then you must follow the method mentioned, this will help you get a loan. We hope that you must have understood the information, if you still face any problem in taking a loan from this bank, then please tell us by commenting.