Total EMI


Total Interest


Total Payments


Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About Punjab National Bank

Punjab National Bank (PNB) is one of the oldest public sector banks in India. The bank was founded in 1894 with an objective of creating a truly national bank to further the economic development of the country. Headquartered in Delhi, the bank has over 7036 branches and 8906 ATMs spread across the country. It has become a highly popular bank for its customer-friendly products and services.

PNB's tagline is 'The name you can bank upon'. PNB strives to adhere to its tagline through an efficiency building exercise called 'Mission Parivartan'. The activity aims for business excellence through efficiency, accuracy, productivity, and enhancing customer profitability.  

PNB Personal Loan

Sometimes, we are in an urgent need of funds for some personal reasons. It can difficult to avail many funds from friends or family. For this reason, Personal Loan products were introduced. Personal Loans provide a very easy solution for individuals in dire need of funds by availing the high amount they require, in a manner of a few days. The repayment for the loan availed can be made through equated monthly installments (EMI) as per the convenience of the customer.

PNB provides many Personal Loan products as part of their banking services. PNB offers different loan types such as Personal Loan scheme for public, Personal Loan scheme for doctors, Personal Loan scheme for pensioners, PNB Baghban, advance against gold, etc. Their loan products cover most purposes that individuals might need funding for. PNB offers quick approval and low-Interest rates for individuals wishing to avail their Personal Loans.

What is EMI?

EMI is a term that denotes the monthly payment amount that the bank receives in exchange for the Personal Loan availed. The EMI amount depends on your loan amount, rate of interest, and the tenure that you are applying for. A high tenure means more time to repay the loan and hence, it means a lower EMI amount as well. EMI can often be the biggest burden on an individual's income and hence, has to be thoughtfully determined so that the bank can be assured of on-time repayment. The EMI amount has to be paid on a certain date every month and the bank offers multiple ways of paying the installment.

Features of PNB Personal Loan

The features of a Personal Loans can differ between different products offered. Some basic features of PNB Personal Loan products are as follows:


Purchase of vehicle, travel expenses, medical expenses, marriage expenses, home-related expense, business purposes, travel purposes, etc.


Self-employed individuals, salaried employees, working at any government/private firm, multinational corporations, army personnel, doctors, etc.


Both term loans and overdraft account facility available

Loan amount

The maximum loan amount that can be availed depends on your income eligibility and the type of loan you want to avail.  Generally, the maximum loan amount is 20 times your net monthly salary.


PNB offers high tenure options for Personal Loan. The highest tenure that can be availed is up to 60 months for both term loans and overdraft accounts.

Age criteria

The maximum age criterion is 75 years in the case of pensioners

Interest Rate

For individuals having salary account in PNB and loan amount up to 10 Lakhs

Starts from 11.50%

For individuals not having salary about in PNB and loan amount from 5 Lakhs to 10 Lakhs

Starts from 12.50%

For individuals availing loan under check-off facility and loan amount up to 5 Lakhs

Starts from 13.50%

For other types of customers and loan amount up to 5 Lakhs

Starts from 14.50%

For PNB Doctor's delight

Starts from 9.95%

For Personal Loan for pensioners

Starts from 10.75%

For Individuals applying for Advance against gold loan

Starts from 8.95%

For non-individuals applying for Advance against gold loan

Starts from, 9.95%

Processing fee

Personal Loan for Public

Up to 1.80% of the loan amount

For PNB Doctor's delight

Up to 0.90% of the loan amount

For Personal Loan for pensioners


For advance against gold bonds


Prepayment charges

No prepayment charges levied. Prepayment can be done at any time after disbursement.

Documentation charges

For Personal Loan for public

·        270 for loan amount up to 2 Lakhs.

·        450 for loan amount up to 4 Lakhs.

For PNB Doctor's delight


For Personal Loan for pensioners


For advance against gold bonds



Suitable third-party guarantor required with income that is enough to cover the EMI. In case of Advance against gold loan, the gold /jewellery pledged is enough

Documents Required for PNB Personal Loan

The bank will not approve the loan solely based on your application form. The bank needs to validate the claims that you have made in the application. For this reason, the banks ask for documentation as proof for the claims in your application. The bank will verify your identity, income, and credit history through the documents submitted to verify whether you are a trustworthy individual or not. These documents have to be submitted along with your application form.

The documents requirement is mentioned below:

  • Duly filled application form
  • Identity proof (any of the below)
  • Aadhar Card
  • PAN Card
  • Voter ID Card
  • International passport
  • Residential Proof (any of the below)
  • Aadhar Card
  • Passport
  • Telephone Bill
  • Electricity Bill
  • Proof of Income (for salaried employees)
  • 3 months of salary statement (for salaried employees)
  • 6 months of bank statement
  • Last 2 years Form-16 or IT-returns
  • Proof of income (for self-employed individuals)
  • Business existence proof
  • 6 months of bank statement
  • 3 years of profit/loss statement
  • 3 years of Income Tax returns (for self-employed individuals)
  • Proof of pension depositing into your account in case of pensioners
  • Other documents:
  • Processing fee cheque
  • 2 passport sized photographs

PNB Personal Loan EMI

The Personal Loan EMI depends upon your loan amount, tenure, and rate of interest. While an increase in tenure can mean a decrease in EMI, often, the rate of interest increases as well.

This means that the overall Interest paid and the overall repayment amount increases. It is recommended to do proper research on your financial liabilities and income before choosing the correct loan amount and tenure for your EMI. Below is a table showing how the EMI amount can change as per different loan amounts and tenure at a rate of Interest of 8.95%



Loan amount (in )

12 months

24 months

48 months

60 months





















You can see from the table that the EMI amount will increase with a decrease in tenure and naturally, it increases with an increase in the loan amount availed. For this reason, it is important to plan your finances well when you apply for a Personal Loan and determine all these factors appropriately.

What is EMI Calculator?

Your EMI amount depends on your loan amount, rate of interest, and tenure. Loans are so popular because of the option of repaying the amount in EMIs. The EMI amount is also decided based on your income eligibility. That is why it is important for you to calculate your EMI amount beforehand while applying for a Personal Loan. This will enable you to understand your long-term financial liabilities.

The EMI amount is calculated based on the given calculation:

E = P*r* (1+r)^n/([(1+r)^n]-1)

Where E = EMI amount

p = Total amount of loan availed can be up to 10,00,000.

r = Rate of Interest/100

n = Tenure in months (can be up to 60 months)

From the above equation, it is clear that calculating the EMI amount is not an easy feat. It involves complex computations and can be time-consuming, especially in case you are not a mathematically inclined person. In order to make these calculations easier for you, a tool called EMI Calculator was introduced. The EMI Calculator is specially designed to calculate the EMI amount based on the loan amount, tenure, and rate of interest you provide.

The EMI Calculator greatly simplifies the calculation process by providing you with the calculated amount instantaneously. The tool is provided by most banks and financial institutions free of cost. You can use the calculator to determine the EMI amount for different loan amounts and tenure.

How to Use MyMoneyMantra EMI Calculator?

MyMoneyMantra is an online lending marketplace offering professional advice for individuals who wish to avail any kind of financial product or service. MyMoneyMantra provides this service for individuals wishing to avail Personal Loan products as well. MyMoneyMantra has set up an expert team of advisors who can help individuals through the entire Personal Loan application process. The EMI calculation is a very important part of the Personal Loan process as well. For this purpose, MyMoneyMantra provides an EMI Calculator as well. The EMI Calculator tool by MoneyMantra is an easy to use service accessible through the website. The tool is easy to use available for anyone with an active Internet connection.

Please follow the below steps to use the MyMoneyMantra EMI Calculator:

  • Go to the MyMoneyMantra website
  • Click on the list bar at the top right corner and find the EMI Calculator under the Financial Tools section.
  • The calculator will open up. You can see 3 input boxes for the loan amount, rate of interest, and tenure.
  • After entering the values, the calculator will display your EMI amount, along with the total interest payable and the total repayment amount.
  • You can change the tenure also to check the EMI and the total interest for different tenures. The higher your tenure, the more the total Interest to be paid.

Benefits of Using an EMI Calculator before Taking a Personal Loan

The EMI is very important for the Personal Loan repayment. It is the amount that you will have to pay on a long-term basis from your monthly income. That is why the amount should be such that it should not burden your monthly expenses and liabilities. Moreover, the bank also determines your eligibility based on your EMI repayment capacity. Finalizing the EMI amount means finalizing the amount and tenure combination for your application. Determining your EMI will help you have more confidence in your Personal Loan application. That is why it is very important to figure out the EMI before you apply for a Personal Loan.

Below are some benefits of using EMI Calculator:

  • Easy to use: The EMI Calculator has been designed to simplify the EMI process. You will not need any special skills to use the EMI Calculator. The calculator has input boxes and output fields. All you have to do is enter the loans amount, rate of interest, and tenure as the input. The calculator does all the complex calculations for you and displays the EMI amount along with the total interest and the total amount to be repaid.
  • Available for everyone: The EMI Calculator is easily available to anyone through their website. All you need to do is visit the website and select 'EMI Calculator' from all the financial tools available. Any person with an active internet connection can use the EMI Calculator. The tool is available free of cost as well.
  • Quick and accurate output: The EMI Calculator has been programmed with the EMI calculation formula and returns highly accurate output. Using an EMI Calculator means there are no chances of human error. In addition, using a tool can give you a higher precision of calculation as well. The EMI Calculator provides you with the calculated EMI amount in a matter of a few minutes.
  • Calculates total Interest: The tool also displays the total interest that will be applicable on your loan across the tenure. Since a higher tenure means a lower EMI, but a higher Interest repaid, you can use the tool to check the differences between different tenures and amounts. You can use it to determine the least Interest to be paid along with the least possible EMI.
  • Decreases turnaround time: The EMI application is a crucial part of the application process. Because of the quick output produced by the calculator, it will reduce the amount of time you would require to prepare your application.

Factors That Can Affect your EMI Amount

The EMI amount depends mainly on your loan amount, rate of interest, and tenure. Any factors that affect any of these values will indirectly also impact your Personal Loan application. It is prudent to validate all your incomes and expenses before you apply for a Personal Loan.

Below are some factors that can affect your EMI amount:

  • Type of loan: The type of loan you apply for can affect the EMI amount. This is because different loan types can have different loan amount, age, and tenure eligibility. The rate of interest associated with different loan types is also different. This will definitely affect the EMI to be repaid. Ensure that the loan type you go for is the most ideal loan type for your needs.
  • Rate of interest: Your EMI amount includes both the interest and the principal repayment component. The rate of interest on your Personal Loan depends on the type of loan, amount, tenure, and your eligibility. A higher loan amount can entail a slightly lower rate of interest while a higher tenure can mean a higher rate of interest. The rate of Interest also depends on your eligibility, income, and credit score. The type of interest will also be a major factor in determining your EMI. In case of a floating rate of interest, it is possible that your EMI changes as per the change in the market lending rates.
  • Tenure: A higher tenure can mean a longer time to repay the loan. That is why the EMI amount is reduced when the tenure is increased. However, a higher tenure can also mean a higher rate of interest, which means your EMI will also slightly increase.

Tips to Decide the Right Amount of EMI

The bank uses your EMI amount as an eligibility factor to determine that you can pay the EMI off comfortably every month. This is why you will have to do thorough research to figure out the ideal amount of EMI for your financial future. You can contact a Mortgage Specialist of MyMoneyMantra to guide you through the EMI determination process.

Below are some tips to hell you determine the right amount of EMI:

  • Pool your sources of income: You can consider multiple sources of income for your loan application and calculate a monthly value of income that you receive from all sources. Your EMI amount is recommended to be about 35-45% of this monthly income amount so that you can pay it comfortably every month. 
  • Verify all your liabilities: Your EMI amount will have to be within your disposable income limit. That is, your EMI amount should not affect your obligations and liabilities. Make sure that you assess your liabilities and obligations carefully and get a fair overview of how much income you at left with afterwards. You will also have to take into account the details of your dependents and how much income you need to take care of them
  • Finalize your loan amount: Your loan amount is the biggest factor that will determine your EMI. The EMI changes drastically with the loan amount. A lower loan amount would mean a lower EMI. If you wish a higher down payment on your house, the loan amount required will be less and you will be able to lower your EMI too.
  • Make timely payments: Your credit score greatly affects your eligibility and rate of interest. Taking proper care of your credits and ensuring that you make your credit payment on time will have a positive impact on your credit score, which will improve your chances of availing a lower rate of interest. A lower rate of Interest means lower EMI's.

Change in EMI with a Change in Interest Rates

Interest rates can be of two types - floating rate and fixed rate Personal Loans. In case of a fixed rate Personal Loan, the rate of interest will remain fixed throughout the tenure and thus, there will be no change in EMI. However, in case of a floating rate Personal Loan, it is possible that the EMI will increase in case the rate of Interest increases for the same.

Change in EMI with Prepayment

Prepayment means paying off an amount that is larger than the EMI amount for the Personal Loan. Prepayment can be in full or in part. In the case of prepayment, the total principal amount decreases after the payment. In this case, the bank may offer to increase or decrease the tenure according to your preferences so that your EMI amount remains unchanged. In this case, the interest to be charged will also change. Changing the EMI or keeping it the same is up to you as per your convenience.

FAQs for PNB Personal Loan

How can I determine if I am eligible for a Personal Loan?

Any Indian national, self-employed, or salaried, with a certain monthly income as required by the bank is eligible for a Personal Loan. The PNB Personal Loan is also available for NRIs or PIOs. Pension loans are also available for individuals who receive a fixed monthly pension. For any other eligibility criteria, you may refer to the eligibility details mentioned on the bank's website or you can apply for the loan through MyMoneyMantra. PNB does require a third-party guarantor to approve your Personal Loan.

What is the maximum loan amount that I can avail from PNB bank?

The maximum loan amount that you can avail from PNB Bank depends on the type of loan and applicant. In the case of Personal Loan for public, the max amount of loan that can be availed is 20 times the gross monthly income, up to an amount of 10,00,000. In the case of Personal Loan for doctors, the maximum amount of Personal Loan that can be availed is 15,00,000 subject to income eligibility. For Personal Loan for pensioners and advance against gold loan, the maximum amount that can be availed is 10,00,000, again, depending on the income of the applicant.

Why do I need to use an EMI Calculator?

Determining your EMI is a very important part of your Personal Loan application process. An EMI Calculator can help speed up the calculation as it provides immediate output. An EMI Calculator enables you to avoid doing the complex calculations yourself. Because of the quick output, you can use the EMI Calculator to check the EMI amount against different combinations of amount and tenure.

Are there any charges for using the MyMoneyMantra EMI Calculator?

No, there are no charges for using the MyMoneyMantra EMI Calculator. It is easily available to anyone who can access the MyMoneyMantra website through an active Internet connection.

What happens in case I miss an EMI payment?

A missed EMI payment can have a negative impact on your credibility. A missed/delayed EMI payment can invite ECS Bounce charges or even monthly late dues. A missed payment will lower your credit score, which means that it can affect the approval for any of your future credits. In certain cases, it is possible that a missed payment will invite legal action in the applicant.

What do you mean by foreclosure? What are the charges associated with it?

Paying off the repayment amount in a single installment before the end of the loan tenure is called prepayment. In such a case, where the amount left to be repaid has been paid off, the loan will be closed early. This process is called foreclosure. PNB allows foreclosure of loans at no extra charges or fees. The loan can be foreclosed at any point after disbursement.

Can I apply for a Personal Loan if I have a lower credit score?

The bank usually asks for a credit score of more than 750 to be eligible for a Personal Loan. It will be difficult to apply for the same if you have a score lower than that. You can choose to apply with an applicant to increase your eligibility. Make sure that the co-applicant has a higher credit score, to be eligible for the same. You can also apply with a third-party guarantor to be eligible.

What is a sanction letter?

A loan 'sanction letter' is a loan provided by the bank once your Personal Loan is approved. The sanction letter contains the details of your loan approval such as the approved loan amounts, rate of interest, tenure, disbursement date, and the factors on which your loan has been approved.