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Punjab National Bank (PNB) Personal Loans

PNB Private was founded in 1894 by luminaries from different parts of India with the intention of serving the people and develop the economy of the country. Headquartered in New Delhi, it is one of the oldest financial services company in India. The bank has 80 million customers, 6937 branches and around 16,684 ATMs across 764 cities.

How to Apply for Punjab National Bank (PNB) Personal Loan

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How to Apply for Punjab National Bank (PNB) Personal Loan - No processing fees, No security needed, Less paperwork, Long tenure, Minimum Income Requirement, Pensioners get attractive offers. CreditMantri offers you the best personal loans matched to your credit profile. Create your credit profile, know where you stand on your credit and apply for loans and credit cards that are right for you. Disclaimer: The information presented has been collated from publicly available sources on the internet. CreditMantri is not responsible for any changes in the same.

What is a personal loan?

A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.

An Introduction to PNB Personal Loans

Being one of the oldest banks in India, PNB offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by PNB.

Apply PNB Personal Loan

Advantages of PNB

  • Low rate
  • No hidden costs and administrative charges
  • No processing fees
  • No security needed
  • Less paperwork
  • Long tenure
  • Minimum Income Requirement
  • Pensioners get attractive offers

Documentation Required for PNB Personal Loans

Important documents to be submitted while applying for personal loans with PNB

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals

PNB Personal Loans

Catering to the needs of various sections of people, tailor-made PNB personal loans is the best option to fulfil your short-term needs. You can choose the best personal loan based on your requirement.

Key Highlights

Eligibility CriteriaSalaried/Self-EmployedPensioners
AgeBetween 21-60 yearsAll who draw pension thorough PNB
Loan TenureUp to 60 monthsUp to 60 months
Loan AmountUp to 10 LakhsUp to 10 Lakhs
Interest RateMCLR + 3.55% to MCLR + 6.55%Up to MCLR + 2.80%

PNB Personal Loan Schemes for Public

With the aim of making personal loan available to the public, this personal scheme offers attractive interest rates and features.

Features of PNB Personal Loan for Public


The aim of the PNB personal loan for public is to provide financial assistance to fulfil the needs like medical treatment of self or a family member, to meet wedding and travel expenses, education and house repair.

No Collateral Required:

As personal loans are unsecured loans, you do not have to pledge any collateral to obtain PNB personal loan for public. However, suitable third-party guarantee is acceptable.


All permanent Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Boarder Police, etc. However, loan request of Defence Personnel, who are due for retirement within next 24 months, may not be entertained.Confirmed/permanent employees of Central/State Govt./PSUs and all reputed companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/Nursing Homes, who are either drawing their salary through accounts maintained with our branches or these employers agree for check off facility.Professionally qualified practicing Doctors viz., MBBS, BDS & above having annual income of Rs.4.00 lac and above. Doctors should be taxpayers for the last three years.

Loan Amount:

The personal loan amount ranges between INR 50,000 and INR 4,00,000 or 20 times for people earning under the following categories: Metro Centres-INR 15,000, Urban centres- INR 12,500 and in Rural Centres- INR 10,000.

INR 5,00,000 or 20 times for the people earning INR 30,000 and above per month.

The loan amount is higher for employees drawing the salary through PNB. The loan amount is INR 10,00,000 or 20 times of the net salary drawn under following categories: Metro Centres– INR 50,000, Urban Centres – INR 40,000 and Rural Centres – INR 30,000.

The salary limit for teachers and defence personal is INR 7,500 at all centres.

Loan Tenure:

Up to 5 years or the remaining period of your employment

Overdraft Facility:

You can repay it by decreasing the Drawing Power as equivalent to EMI.

The income of the spouse can be included while ascertaining the repaying capacity where the spouse is confirmed/ permanent employee of Central or State Government/ PSUs and reputed companies/ Institutions including Schools, Colleges, Universities, Autonomous bodies, Hospitals, Nursing Homes. In such cases, the spouse is to be made as co-borrower.

Prepayment Charges:

No prepayment charges are levied on PNB personal loan

Features of PNB Personal Loan Schemes for Pensioners

Axis Bank currently offers personal loan only to the individuals living in the following cities. The eligibility criteria would be based on the demographic location.


The aim of the PNB personal loan is to provide financial assistance to the public drawing pension through PNB.


All pensioners drawing through PNB

No Collateral Required:

As personal loans are unsecured loans, you do not have to pledge any collateral to obtain PNB personal loan for public. However, suitable third-party guarantee is acceptable.

Loan Amount:

The minimum loan amount is INR 25,000 and for individuals aged up to 70 years can get a personal loan amount of 10 Lakhs or 18 times of net monthly pension. For people above 70 to 75, the limit is 7.5 Lakhs and for above 75 the limit is 5 Lakhs or 12 times of net monthly pension.

Loan Tenure:

Up to 5 years and for people aged above 75 the tenure is 24 months. The personal loan monthly deductions should not exceed 50% of the net monthly pension.

Prepayment Charges:

No prepayment charges are levied on PNB personal loan

Interest RatesLoans up to Rs.10 Lakhs -For individuals whose salary is being disbursed through our branches only (Including Defence Personnel).MCLR + 3.55%
Personal Loan *Loans above Rs.5 Lakhs & up to Rs.10 Lakhs* -For other categories i.e., applicants not having salary account with our bank irrespective of check off facility. (*Field functionaries are not empowered to sanction these cases.)

For others up to Rs.5 lac
MCLR + 4.55%

MCLR + 6.55%
Pension LoanPersonal Loan to Pensioners (Pension Loan)MCLR + 2.80%

Processing Fees and Documentation Charges

Following are the documentation and processing charges levied on PNB personal loans.

Types of LoansDocumentation Charges Processing Fees
Personal Loan Up to Rs. 2 Lakhs- Rs. 270/-
Above Rs. 2 Lakhs- Rs. 450/
1.80% of loan amount
Personal Loan for PensionersRs. 500/-NIL

EMI Payment Methods

Your PNB personal loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with PNB, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the PNB account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-PNB account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

You can submit post-dated EMI cheques from a non-PNB account at your nearest PNB Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.

Personal Loan FAQs

1. What are my loan limits?

Your personal loan limit would be determined by your income and repayment capacity. PNB offers two types of personal loans. They are 1. Personal Loan for Public and 2. Personal Loan for Pensioners drawing through PNB.

2. Can my spouse income be included for calculating the loan amount?

Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.

3. Do I have to pledge some form of security?

No Security is Needed

4. What is the repayment schedule like?

The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.

5. What is EMI?

EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.

6. What is the processing fee? Are there any other charges?

The processing fee for personal loan for public is 1.80% of the loan amount and no fees for pensioner scheme. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.

7. Do I have the option of choosing a fixed or floating rate for the loan?

You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).

8. How does PNB Personal loan compare with those offered by other banks?

There is total transparency with regard to the rate of interest and the fees charged by us.

PNB offers personal loans at the cheapest rates of interest, with no security or collateral

PNB offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty.

The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity.

With an PNB personal loan, you can choose between fixed rates of interest and floating interest rates.

9. How can I apply for the PNB personal loan?

You can either apply online or visit the nearest PNB loan centre for a personal loan.

10. Will there be any charges for prepayment towards my PNB personal loan?

No pre-payment charges are levied towards the personal loan. You can make part-prepayment at the nearest PNB branches.

PNB Personal Loans Overview

PNB provides attractive interest rates on personal loans when compared to other lenders. The processing fee is 1.80% of the loan amount which is among the lowest fees in the industry. Moreover, the processing fee is waived off for pensioners. Low interest rate with no hidden charges makes PNB personal loans a prospective and viable option for borrowing for your urgent financial requirements. With long tenure and part-prepayment, PNB personal loans do not impose much burden on the customers.

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