PNB Bank Personal Loan Interest Rates
Personal loans through Punjab National Bank (PNB), from ₹20 lakhs with flexible repayment terms spanning 84 months, are available to the general public at interest rates between 10.95% and 17.95% annually. Specifically tailored financing solutions for physicians and pensioners are offered at an annual interest rate of 10.40% and 11.75%, respectively.
PNB also provides salary-based individuals with a unique personal loan overdraft facility, which might be continued till the borrower's end of his term of service or six years. These loans are sanctioned through the deduction of the EMI at the beginning of each month from the Drawing Power (DP), providing a practical scheme for repayment.
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
| Type | CIC Score | Rate of Interest |
|---|---|---|
| PNB Doctor’s Delight-Personal Loan Scheme for Doctors | NA | 11.40% |
| 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 | 10.40% |
3. PNB Personal Loan Scheme for Self-employed
| CIC Score | Interest Rate (p.a.) |
|---|---|
| 800 | 12.75% |
| 750* less than 800 Or With Nil credit history (i.e – 1 or 0) | 13.75% |
4. PNB Personal Loan for Pensioners
| Type | Interest 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
| 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 |
|
| Documentation Charges |
|
| 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
Loan Amount
₹
Rate of Interest
%
Loan Duration
Months
EMI Payment Schedule
Punjab National Bank Personal Loan Interest Rates vs Other Banks
The table below highlights the interest rates provided by various banks, enabling you to compare and choose the best option for your needs. The interest rate you secure will be influenced by the bank's policies and your overall credit profile. PNB offers personal loans with rates starting at 10.95% per annum, based on your financial profile.
Note: All the interest rates are as of January 2025. For latest interest rates, please refer to the bank’s website.
| Banks | Interest rates |
|---|---|
| HDFC Bank | 10.85% onwards |
| State Bank of India | 11.45% onwards |
| Axis Bank | 11.25% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| IndusInd Bank | 10.49% onwards |
| Bandhan Bank | 9.47% onwards |
| ICICI Bank | 10.85% onwards |
| IDFC Bank | 10.99% onwards |
| Canara Bank | 10.95% onwards |
| Federal Bank | 12% onwards |
| Union Bank of India | 11.35% onwards |
| Indian Bank | 10% onwards |
| Yes Bank | 11.25% onwards |
| Bank of India | 10.85% onwards |
| Bank of Baroda | 11.05% onwards |
| IDBI Bank | 11% onwards |
| AU Bank | Up to 30% |
Source: paisabazaar
Eligibility Criteria for Personal Loans from Punjab National Bank
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.
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.
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.
Pensioners:
Eligibility: Individuals receiving their pension through Punjab National Bank are eligible for a Pension Loan offered by PNB.
Factors Affecting PNB Bank Personal Loan Interest Rate
There are several factors which influence the PNB bank personal loan interest rate, some of which are explained below:
Employment Details: This bank might offer you low interest rates on your personal loans if you are a long-term employee of a well-known company. However, the bank would check your employment details and number of assets before deciding to offer you low rates of interest. PNB offers a range of personal lending programs for salaried as well as non-salaried individuals.
Relationship with PNB: Banks usually offer their favorite customers special rates on personal loans. Moreover, PNB may be eligible for lower interest rates on your personal loan if you and the bank have a good working relationship.
Loan Tenure: You may be eligible for a lower interest rate on personal loans if you take out a loan with a longer term.
Repayment Capacity: You can qualify for a lower interest rate if the bank believes that you can make timely repayments on your personal loan without going into default.