PNB Bank Personal Loan
Punjab National Bank provides personal loans with a range of features to cater to different needs. For general applicants, the bank offers loans up to ₹20 lakh at floating interest rates starting from 10.40% per annum, with rates going up to 16.95% per annum, and fixed rates ranging from 11.40% to 17.95% per annum. These loans are available for tenures of up to 7 years. Pensioners can also benefit from the bank's personal loan offerings, which come with a fixed interest rate of 11.75% per annum and a tenure of up to 5 years.
Additionally, the bank provides a personal loan overdraft facility for salaried individuals, which must be repaid within their remaining service period or within a maximum of 6 years. This facility adjusts the Drawing Power (DP) by reducing it by the EMI amount at the start of each month. The processing fee for these loans is capped at 1%, but there are no charges for prepayment or foreclosure.
Punjab National Bank Personal Loan Interest Rates
Punjab National Bank determines personal loan interest rates based on several factors, including the applicant's job profile, credit score, employer's credentials, and the relationship with the bank through their salary account. These elements collectively influence the interest rates offered to each individual.
1. PNB Sahyog Rin – Personal Loan for Public
2. PNB Doctor’s Delight – Personal Loan Scheme for Doctors
3. PNB Personal Loan Scheme for Self-employed
4. PNB Personal Loan for Pensioners
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PNB Personal Loan Fixed Interest rates
1. PNB Sahyog Rin – Personal Loan for Public
| Type | CIC Score | Rate of Interest (p.a.) |
| For paramilitary/defense personals who get salaries through PNB (customers under Rakshak Plus Scheme are included) | NA | 12.40% |
| For government employees getting salaries through PNB and for central government gazetted officers having no salary account with PNB | 800 | 12.75% |
750 less than 800 Or No credit history | 13.75% | |
650-749 | 14.75% | |
less than 650 | 15.25% | |
| For corporate/other employees withdrawing their salaries through PNB and for government employees not getting salaries through PNB | 800 | 13.75% |
750 less than 800 or No credit history | 14.75% | |
650-749 | 16.75% | |
Less than 650 | 17.25% | |
| Loan to employees under check off facility | 800 | 15.25% |
750 less than 800 or No credit history | 15.75% | |
650-749 | 17.45% | |
Less than 650 | 17.95% |
2. PNB Doctor’s Delight – Personal Loan Scheme for Doctors
| Type | CIC Score | Rate of Interest |
| PNB Doctor’s Delight-Personal Loan Scheme for Doctors | NA | 12.40% |
| PNB Doctor’s Delight-Personal Loan Scheme for Doctors 1% concession for applicants having salary account with PNB Or Maintains receipt collection account with PNB Or With Tangible Collateral Security of 100% of loan amount | NA | 11.40% |
3. PNB Personal Loan Scheme for Self-employed
| CIC Score | Interest Rate (p.a.) |
| 800 | 13.75% |
| 750* less than 800 Or With Nil credit history (i.e – 1 or 0) | 14.75% |
4. PNB Personal Loan for Pensioners
| Type | Interest Rate (p.a.) |
| Personal Loan for Pensioners (Term Loan/Overdraft/Demand Loan) | 12.75% |
PNB Personal Loan Processing Fees & Charges
1. PNB Personal Loan Scheme for Public
| Processing Charges |
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| Documentation Charges |
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| Pre-payment Charges | NIL |
2. PNB Personal Loan to Doctors
| Processing Charges | 0.90% of loan amount |
| Documentation Charges | ₹450 |
| Pre-payment Charges | NIL |
3. PNB Personal Loan to Pensioners
| Processing Charges | NIL |
| Documentation Charges | ₹500 |
PNB Bank Personal Loan EMI Calculator
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Rate of Interest
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Loan Duration
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EMI Payment Schedule
Punjab National Bank Personal Loan Interest Rates vs Other Banks
| Banks/NBFCs | Interest Rates (p.a.) |
|---|---|
| IndusInd Bank | 10.49% onwards |
| HDFC Bank | 10.50% onwards |
| ICICI Bank | 10.80% onwards |
| IDFC First Bank | 10.99% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| Tata Capital | 10.99% onwards |
| Aditya Birla | 10.99% onwards |
| Axis Bank | 11.25% onwards |
| Federal Bank | 12.00% onwards |
| DMI Finance | 12.00% - 40.00% |
| L&T Finance | 12.00% onwards |
Punjab National Bank Personal Loan Options
Personal Loan for Salaried Individuals
Purpose: This loan is designed to support salaried professionals with personal expenses, including medical treatments, domestic or international travel, wedding costs, and educational expenses.
Loan Amount: Up to ₹20 lakh, which can be up to 24 times the applicant's gross monthly salary.
Tenure: Repayment period extends up to 6 years.
Personal Loan for Self-Employed Professionals
Purpose: Tailored for self-employed individuals such as Chartered Accountants, Company Secretaries, Data Analysts, Architects, LIC Agents, Engineers, and Software Developers. Applicants should have maintained a savings or current account with PNB for at least 2 years.
Loan Amount: Up to 10 times the average gross monthly income of the last two years, with a maximum limit of ₹5 lakh.
Tenure: The loan can be repaid over a period of up to 5 years or until the applicant turns 65 years old, whichever comes first.
Personal Loan for Doctors
Purpose: This loan is available to doctors with a net annual income of ₹5 lakh or more, to help with both professional and personal financial needs.
Loan Amount: Ranges from ₹2 lakh to ₹20 lakh, or up to 24 times the gross monthly income, whichever is lower.
Tenure: The loan term extends up to 7 years.
Personal Loan for Pensioners
Purpose: Offered to pensioners receiving their pensions through Punjab National Bank, this loan helps cover personal expenses.
Loan Amount: For applicants up to 70 years of age: Up to ₹10 lakh or 18 times the net monthly pension (20 times for defense pensioners), whichever is lower.
For applicants up to 70 years of age: Up to ₹10 lakh or 18 times the net monthly pension (20 times for defense pensioners), whichever is lower.
For applicants aged 70 to 75 years: Up to ₹7.5 lakh or 18 times the net monthly pension (20 times for defense pensioners), whichever is lower.
For applicants over 75 years: Up to ₹5 lakh or 12 times the monthly pension, whichever is lower.
Tenure: The loan is available for up to 5 years or until the applicant turns 78 years old, whichever occurs first.
Eligibility Criteria for Punjab National Bank Personal Loans
Eligibility for Public Sector Employees
Permanent Employees: Individuals employed permanently with the State or Central Government, Public Sector Units (PSUs), or reputed schools, colleges, universities, autonomous bodies, hospitals, and nursing homes, who have been with their current organization (or previous ones) for a minimum of 2 years, are eligible. It’s essential that these employees receive their salaries through Punjab National Bank (PNB).
Check-Off Facility Applicants: Employees using the check-off facility must have a minimum of 3 years of service, including tenure with any previous employers.
Eligibility for Self-Employed Professionals
Professionals: This category includes Chartered Accountants (CA), Company Secretaries (CS), Data Analysts, Architects, Engineers, Software Developers, and Financial Consultants. To qualify, they must demonstrate a minimum gross annual income of ₹6 lakh for the past 2 years.
Credit Score Requirement: A minimum Credit Information Report (CIC) score of 750 is required.
Account Maintenance: Applicants must have maintained a savings or current account with PNB for at least 2 years, with total annual credit transactions amounting to at least ₹5 lakh across all accounts (including those at other banks) in the previous financial year.
Eligibility for Doctors
Professionally Qualified Doctors: This includes doctors with qualifications such as MBBS, BDS, and higher degrees who are actively practicing.
Income Requirement: The applicant must have a net annual income of no less than ₹5 lakh.
Tax Compliance: The applicant must have been a taxpayer for the last 2 years.
Residence Requirement: The doctor should have resided at their current address for a continuous period of 2 years, although this criterion does not apply to those employed by government sectors or institutions.
Eligibility for Pensioners
Pensioners: Individuals who receive their pension through Punjab National Bank are eligible to apply for a Pension Loan offered by PNB.
This revised format provides clear and concise information tailored to different categories of applicants, ensuring easy understanding and application.
Punjab National Bank Personal Loan FAQs
Are there any charges for prepayment or foreclosure of personal loans with Punjab National Bank?
Punjab National Bank does not charge any fees for prepayment or foreclosure of personal loans. This applies to personal loans for the public, doctors, and pensioners, making it easier for borrowers to repay their loans ahead of schedule without incurring additional costs.
Can I choose between fixed and floating interest rates for a personal loan from Punjab National Bank (PNB)?
Punjab National Bank offers personal loans exclusively with floating interest rates.
Is collateral, security, or a guarantor required when applying for a personal loan from PNB?
PNB does not require collateral or security for their personal loans. However, applicants must provide a third-party guarantee.
What factors influence the loan amount that can be approved for a personal loan?
The loan amount for a personal loan is primarily determined by the applicant’s income level and their ability to repay the loan.