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Punjab National Bank is an Indian multinational banking and financial services company. This state-owned corporation is known for offering personal, social, agricultural, international and corporate banking services. Moreover, among its many services, this renowned bank is known for offering the best of personal loans. Yes, to satisfy the personal needs of all, the bank provides personal loan with unmatched features and benefits. Whether you are looking funds for home renovation, family vacation or for your child’s education, PNB fulfills every financial need of yours. Being a helping hand, the bank fulfills every wish of yours by supporting you financially well.
Punjab National Bank Personal Loan Interest Rates January 2022
|Interest Rates||8.95% - 14.00%|
|Loan Amount||INR 50,000 - INR 10 lakh|
|Processing Fees||1.80% of the loan amount|
PNB Personal Loan EMI Calculator
Let’s assume. Rakesh Gupta wants to avail a loan of INR 2,00,000 Lakh from this bank at an interest rate of 11% for a tenure of 5 years, to know the EMIs, Interest Outgo and Total Amount Payable of the same, let’s just take a look at the table below.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
|Loan Amount||Interest Rate||Tenure||Monthly Instalment||Total Interest Amount||Total Amount|
|₹ 2,00,000||11%||1||₹ 17,676||₹ 12,116||₹ 2,12,116|
|₹ 2,00,000||11%||2||₹ 9322||₹ 23,718||₹ 2,23,718|
|₹ 2,00,000||11%||3||₹ 6548||₹ 35,719||₹ 2,35,719|
|₹ 2,00,000||11%||4||₹ 5169||₹ 48,117||₹ 2,48,117|
|₹ 2,00,000||11%||5||₹ 4348||₹ 60,909||₹ 2,60,909|
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|1||₹ 31,750||₹ 20,431||₹ 1,68,249|
|2||₹ 35,425||₹ 16,757||₹ 1,32,823|
|3||₹ 39,524||₹ 12,657||₹ 93,299|
|4||₹ 44,098||₹ 8084||₹ 49,201|
|5||₹ 49,240||₹ 2981||₹ 0|
Eligibility Criteria for PNB Personal Loan
To avail the personal loan in Punjab National Bank, you need to fit into the below eligibility criteria.
|Age||Min-21 years, Max-58 years||Min-21 years, Max-65 years|
|Income||INR 15000 per month at metro centres|
INR 12500 per month at urban centres
INR 10000 per month at semi-urban and rural centres
|An applicant should have minimum monthly income of INR 20,000|
|Total years in profession||2 years||2 years|
|Years in current residence||1 year||NA|
Documentation Required for PNB Personal Loan
Next thing on which you need to pay attention is the documentation required to get the personal loan in this bank.
|For Salaried||For Self-Employed|
How to Apply Online?
Interested in applying for PNB Personal Loan? If yes, you would be glad to know that it is absolutely easy and a hassle-free process to apply online for the same. Yes, you can get this unsecured loan anytime as per your comfort and convenience. All you need to do is open the website, fill the required form by entering your personal as well as professional details and then click on the submit button.
Features and Benefits
- Attractive interest rates
- No guarantor/ surety required
- Flexible repayment options
- Loans available for various needs
- Minimal Paperwork
- Quick processing & Disbursal
- Enjoy the convenience of doorstep service