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 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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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% |
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 |
₹
%
Months
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 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.
Punjab National Bank offers personal loans exclusively with floating interest rates.
PNB does not require collateral or security for their personal loans. However, applicants must provide a third-party guarantee.
The loan amount for a personal loan is primarily determined by the applicant’s income level and their ability to repay the loan.