Why Should You Borrow a PNB Personal Loan?

Earlier this year we all faced different financial situations but there is one thing that never changes, which is Punjab National Bank (PNB) efficient services for customers. And in our hard times, PNB Personal Loan helps us, so we can get our day to day needs whenever there is a financial emergency. Using PNB Personal Loan, you can borrow up to 15X your monthly income, which may be quite enough to meet your financial needs. So if you are having financial difficulties, read this page and know more about PNB Personal Loan features and benefits.

Check Out for the PNB Personal Loan Eligibility!

If you are interested in PNB Personal Loan, you should check out the following -

• Applicants should draw salary from PNB

• Check-off facility must be available

• And if you are a confirmed or permanent employee of any central or state government or PSU, you need to have a minimum experience of 2 years including the previous employer, if any.

• If the applicant is a confirmed or permanent employee of other than any central or state government or PSU, the minimum experience of 3 years is required including the previous employer, if any.

• For LIC agents the PNB personal loan criteria is that they should have an SF account at PNB and are aged below 60 years with more than 5 year of working experience as an LIC agent.

Maximum Limit for PNB Personal Loan

PNB capped the loan amount at INR 10 lakh.

Range of PNB Personal Loan Interest Rate

Your PNB Personal Loan interest rate range will vary based on the type of your employment, so check out this table below to learn in detail.

Employment Type	PNB Personal Loan Interest Rate
Defence or paramilitary personals	8.95%
Government employees drawing salary from PNB and central government gazette officer, section officer or equivalent and above not drawing salary from PNB	9.30%-11.30%
Corporate and other employees drawing salary from PNB and government employees not drawing salary from PNB	10.30%-13.30%
Employees with check-off facility	11.80%-14.00%

Note - A 0.10% concession will be provided on PNB personal loan interest rate if the applicant is covered under Credit Life Insurance. Also there is 0.50% concession for employees of institutions or corporations who are in a tie-up with PNB.

PNB Personal Loan Repayment Schedule

Now if you have made up your mind for PNB personal loan and the only concern left is repayment, don't worry. With PNB personal loan you will get a flexible repayment tenure up to 60 months. The borrower can choose his/her repayment tenure as per the monthly budget and current obligations.

And if you think of using PNB personal loan as an overdraft facility, the repayment shall be adjusted within the remaining period of service or up to 60 months by reducing Drawing Power (DP) at the beginning of every month.

In the case of LIC agents the PNB personal loan repayment tenure will be dependent on their age at maturity. So the PNB personal loan tenure for an LIC agent will be either 60 EMIs or up to his/her 65 years age, whichever is earlier.