PNB Bank Personal Loan Interest Rates

Punjab National Bank (PNB) sets personal loan interest rates based on a variety of factors. These include the applicant's job profile, credit score, employer's reputation, and the existing relationship with the bank, such as holding a salary account. All these elements collectively determine the interest rates that an individual will be offered.



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    Punjab National Bank Personal Loan Interest Rates 2024

    Punjab National Bank offers personal loans with various options to meet diverse financial needs. For standard applicants, the bank provides loans up to 20 lakh with floating interest rates starting from 10.40% per annum, which can go up to 16.95% per annum. Fixed interest rates for these loans range from 11.40% to 17.95% per annum. The loans are available with tenures of up to 7 years.

    For pensioners, PNB offers personal loans with a fixed interest rate of 11.75% per annum, and the loan tenure can extend up to 5 years. Additionally, the bank provides an overdraft facility for salaried individuals, which must be repaid within the remaining service period or up to a maximum of 6 years.

    This facility works by adjusting the Drawing Power (DP) each month by subtracting the EMI amount. Processing fees for these loans are capped at 1%, and there are no charges for prepayment or foreclosure.


    Punjab National Bank Personal Loan Interest Rates Schemes

     

     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

    11.40%

    For government employees getting salaries through PNB and for central government gazetted officers having no salary account with PNB

    800

    11.75%

    750 less than 800 Or No credit history

    12.75%

    650-749

    13.75%

    less than 650

    14.25%

    For corporate/other employees withdrawing their salaries through PNB and for government employees not getting salaries through PNB

    800

    12.75%

    750 less than 800 or No credit history

    13.75%

    650-749

    15.75%

    Less than 650

    16.25%

    Loan to employees under check off facility

    800

    14.25%

    750 less than 800 or No credit history

    14.75%

    650-749

    16.45%

    Less than 650

    16.95%

     

    2. PNB Doctor’s Delight – Personal Loan Scheme for Doctors

     

    TypeCIC ScoreRate of Interest
    PNB Doctor’s Delight-Personal Loan Scheme for DoctorsNA11.40%
    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 amountNA10.40%

     

    3. PNB Personal Loan Scheme for Self-employed

     

    CIC ScoreInterest Rate (p.a.)
    80012.75%
    750* less than 800 Or With Nil credit history (i.e – 1 or 0)13.75%

     

    4. PNB Personal Loan for Pensioners

     

    TypeInterest Rate (p.a.)
    Personal Loan for Pensioners (Term Loan/Overdraft/Demand Loan)11.75%

    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

     

    TypeCIC ScoreRate of Interest
    PNB Doctor’s Delight-Personal Loan Scheme for DoctorsNA12.40%
    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 amountNA11.40%

     

    3. PNB Personal Loan Scheme for Self-employed

     

    CIC ScoreInterest Rate (p.a.)
    80013.75%
    750* less than 800 Or with nil credit history (i.e – 1 or 0)14.75%

     

    4. PNB Personal Loan for Pensioners

     

    TypeInterest 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
    • 1.00% of loan amount
    • For Defense Personals- NIL
    Documentation Charges
    • Up to 2 lakh- 270
    • Above 2 lakh- 450
    • For Defense Personals- NIL
    Pre-payment ChargesNIL

     

    2. PNB Personal Loan to Doctors

     

    Processing Charges0.90% of loan amount
    Documentation Charges 450
    Pre-payment ChargesNIL

     

    3. PNB Personal Loan to Pensioners

     

    Processing ChargesNIL
    Documentation Charges 500

     

     

    Punjab National Bank Personal Loan EMI Calculator

     

    (https://www.livemint.com/loans/pnb-bank-personal-loan-emi-calculator)

    Punjab National Bank Personal Loan Interest Rates vs Other Banks

    Banks Interest Rate (p.a.)Processing Fee
    HDFC Bank 10.75% p.a. - 24.00% p.a.Rs.4,999 + GST
    ICICI Bank 10.85% p.a. - 16.25% p.a.Up to 2%
    Yes Bank 10.99% p.a. onwards - 20% p.a. Up to 2.5%
    Kotak Mahindra Bank 10.99% and above Up to 3% 
    Axis Bank 11.25% p.a.- 22% p.a.Up to 2% of the loan amount 
    HSBC Bank 9.99% p.a. - 16.00% p.a. Up to 2% 
    IDFC First Bank 10.90% p.a. - 36% p.a. Up to 3.5% 
    Ujjivan Small Finance Bank 11.49% p.a. - 16.49% p.a.At the discretion of the bank 
    Aditya Birla Capital 10.99% p.a. -30% p.a.Up to 3%
    State Bank of India 11.35% p.a. - 14.50% p.a.Up to 1.50% 
    Karnataka Bank 10.93% p.a. onwardsAt the discretion of the bank 
    Bank of Baroda 11.15% p.a. - 18.20% p.a.Up to 2% 
    Federal Bank 11.49% p.a. - 14.49% p.a. Up to 2%
    Bank of India 10.85% onwardsUp to 2% 
    IDBI Bank 10.55% p.a. - 13.30% p.a. Contact the bank 
    South Indian Bank 13.1% p.a. - 20.6% p.a. Up to 2% 
    Indian Overseas Bank 10.85% p.a. - 13.00% p.a. Up to 0.50% (Above Rs.2.00 lakh up to Rs.150 Crores)
    RBL Bank 18% p.a.Up to 2% 
    Bank of Maharashtra 9.75% p.a. to 12.55% p.a.Up to 1% 
    Central Bank of India 12.00% p.a. - 12.75% p.a. Up to 1% 
    J&K Bank 9.60% p.a. - 9.70% p.a.Up to 1% of the loan amount subject to a maximum of Rs.10,000 

     

    (Interest Rates as of 03, September 2024)
    Please note that GST will be added to the applicable processing fee.

    Eligibility Criteria for Personal Loans from Punjab National Bank

    1. Public Sector Employees:

      • Permanent Employees: Those employed on a permanent basis by the State or Central Government, Public Sector Units (PSUs), reputed educational institutions, autonomous bodies, hospitals, or nursing homes are eligible. Applicants must have a minimum of 2 years of service with their current organization (or previous ones), and their salaries should be credited through Punjab National Bank (PNB).

      • Check-Off Facility Applicants: Employees utilizing the check-off facility need to have at least 3 years of service, including any tenure with previous employers.

    2. Self-Employed Professionals:

      • Eligible Professions: Chartered Accountants (CAs), Company Secretaries (CSs), Data Analysts, Architects, Engineers, Software Developers, and Financial Consultants are included in this category. To qualify, professionals must show 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 necessary.

      • Account Maintenance: Applicants should have maintained a savings or current account with PNB for at least 2 years. Additionally, their total annual credit transactions across all accounts (including those with other banks) should have been at least 5 lakh in the previous financial year.

    3. Doctors:

      • Professional Qualification: The category includes doctors with MBBS, BDS, or higher degrees who are actively practicing medicine.
      • Income Criteria: The applicant must have a net annual income of at least 5 lakh.

      • Tax Compliance: The applicant should have been a taxpayer for the last 2 years.

      • Residence Criteria: The doctor must have resided at their current address for a continuous period of 2 years, except if employed by government sectors or institutions, in which case this criterion does not apply.

    4. Pensioners:

      • Eligibility: Individuals receiving their pension through Punjab National Bank are eligible for a Pension Loan offered by PNB.

    Punjab National Bank Personal Loan Interest Rates FAQs

    Yes, there are fees. For personal loans, a processing fee of 1% of the loan amount applies. For doctors, it’s 0.90%. Pensioners, however, do not incur any processing fees.

    To get the best rate, maintain a high credit score, minimize existing debts, and ensure a stable income. These factors influence the interest rate you may receive.

    You can pay via Electronic Clearing System (ECS), Standing Instructions for auto-debit, or post-dated cheques.

    Link your loan account to your net banking profile and use the auto-debit facility to manage EMI payments.

    Yes, link your Punjab National Bank loan account to your net banking at another bank and set up EMI payments accordingly.

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