PNB Personal Loan

A personal loan is particularly issued for a specific amount which can be used for various purposes at the discretion of the borrower. The PNB Personal Loan is totally unsecured in nature, there is no need to mortgage any kind of security or collateral.

Why PNB Personal Loan

  • Nominal Interest  Rates.
  • The applicant can avail a loan up to 30 Lakhs
  • After that No cosigner required.
  • No need to mortgage any collateral/security.
  • It is a multipurpose loan, can be used in any financial crises.

Interest Rates of PNB Personal Loan

Interest rates of PNB Personal Loan are fall between 12-15% according to the amount of loan.

Eligibility of PNB Personal Loan

It is based on which bank has to approve the request of the applicant regarding the credit there are two categories of the applicants:

1.Salaried

2.Self-employed

There are various eligibility criteria for both applicants

Salaried Applicants

  • Firstly, the age of the customer should at least 21 or above.
  • The second thing is the salary of an applicant must have 18000 or more.
  • After that, 650 CIBIL score is required to get the loan.
  • Further, most the applicant will get a loan from his/her nearest branch only.
  • Lastly, ITR (Income Tax Return) is mandatory for the last 2 years.

Self-Employed Applicants

  • Under self-employed age, criteria must be 21 or above.
  • ITR (Income Tax Return) is required for the last 3 years.
  • After that, the business should have been working for the last 3 years.
  • Moreover, the customer has a good credit score, no dues should be outstanding.
  • 5 lacs annual income is needed.
  • Bank statement of the previous 3 months is needed.

Documents for PNB Personal Loan

It includes 2 categories

1.)    Salaried

2.)    Self Employed

Salaried

  • Firstly, Id proof ( Driving License, Passport, PAN card, Aadhar card, Voter card)
  • Secondly, residence Proof (Passport ,Driving License, Aadhar card, Ration card)
  • After that photo ID proof (Passport, Aadhar card, Driving License) any 1 of them
  • Moreover, latest Bank account statement of 3 months.
  • Besides that salary slip of the previous 3 months.
  • Although, 2 colored passport size snap is mandatory.
  • Lastly, Employment certification.

Self Employed

  • ID proof (Voter card, Aadhar card, pan card, Passport, Driving License, Passport)
  • ITR is required for the previous 3 years.
  • A business should be registered and working for at least 3 years.
  • Proof of Ownership (bill of purchases, sales).
  • Form 16

Tenure of PNB Personal Loan

Loan tenure would be fall between  1 year to 5years.

Processing fees of PNB Personal Loan

1.8% + taxes of the Loan amount.

About PNB

It is a multinational banking financial company, having 7000 branches with 110 million customer range. It is a public sector bank. Sunil Mehta is the current Chairman and MD of the company. PNB having a bank subsidiary in another region also, like UK, Dubai, Hong Kong etc.