PNB provides personal loans to its customers for meeting their varied financial needs at affordable rates of interest. In addition, PNB also provides hassle-free documentation process, reasonable repayment options, top-up loan facilities, and instant loan approvals. mymoneykarma gives you all the information you need on PNB personal loans.
Benefits of PNB Personal Loans
PNB personal loans are loaded with customer-friendly benefits and features. Here are a few highlights of PNB personal loans.
- Significant loan amounts ranging from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs. The loan amount depends on the applicant's credit score, repayment capability, credit history, and yearly income.
- Long loan tenures ranging from a minimum of 12 months and a maximum period of 60 months.
- Attractive interest rates ranging between 2% - 6.55% on top of the MCLR or 11.65% - 12% per annum.
- Loans available for salaried individuals, public and private company employees, and government employees.
- Simplified loan application and approval process with minimal documentation.
- Special offers on the applicant being an existing customer of PNB.
- Various feasible repayment channels such as NEFT, post-dated cheques, and online banking.
- Facility of personal loan transfer from other banks to PNB.
Types of PNB Personal Loans
PNB offers the following types of personal loans
PNB Personal Loans for General Public
These personal loans are available for the general salaried and self-employed customers.
Eligibility Criteria
- Minimum income of Rs 10,000- Rs 12,500 per month in non-metro cities.
- Minimum income of Rs 15,000 per month in metro cities.
- Sound repayment capability and a good credit score.
- Minimum age of 21 years.
- Maximum age of 60 years.
- Minimum work experience of 2 years for salaried people and 5 years for self-employed people.
PNB Personal Loans for Pensioners
These personal loans are available for senior citizens only.
Eligibility Criteria
- Available only for senior citizens holding pension accounts in PNB.
- Sound repayment capability and a good credit score.
- Minimum age of 60 years.
- Maximum age of 75 years.
PNB Personal Loans for Doctors
These personal loans are offered exclusively to doctors holding accounts in PNB.
Eligibility Criteria
- Minimum age of 21 years.
- Maximum age of 60 years.
- Minimum income of Rs 5 lakhs per annum pan-India.
- Minimum 2 years of work experience.
- Minimum 2 years of stay at current residence.
Documents Required for PNB Personal Loans
Applicants need to submit the following documents while applying for PNB personal loan.
- A filled loan application form with necessary details such as income, occupational details, and personal information.
- Two copies of recent passport sized photographs
- Copies of the applicant's PAN card and Aadhaar card.
- Copies of income proof such as salary slips of the previous three months, bank statements of the last three months, and a copy of Form 16.
- Copies of residence proof such as telephone bills, electricity bills, or rental agreement attested by the applicant.
How to Apply for PNB Personal Loans Online
Customers can directly apply for PNB personal loan online by following these steps.
- Go to the PNB website and select ‘personal loans’ from the PNB loan products tab.
- Click on the type of the personal loan required and click on apply.
- Download the application form.
- Fill in the details such as the name, salary details etc. and sign the document electronically.
- Upload the scanned copies of the required documentation and click submit.
How to Apply for PNB Personal Loans Offline
Applicants can also directly walk in the personal loan centers of PNB along with the necessary documents. They can fill up the PNB application form and submit it with the documentation. The loan is approved within a maximum of ten working days.
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