Punjab National Bank



Apply Punjab National Bank Personal Loan

About Punjab National Bank

Since its inception in 1895, Punjab National Bank has spread its network to over 5,800 branches and over 6,000 ATMs across 764 cities. With more than 80,000,000 customers, PNB is the second largest public sector bank in India. Headquartered in New Delhi, the bank offers easy personal loans for salaried, self-employed and pensioners. PNB lets you neutralize any of your immediate needs for money without loan security or collateral.

PNB Bank Personal Loan Interest Rate - Apr 2021

Interest rate

8.45% to 14%

Loan tenure

5 Years

Loan turn around period

1-7 Days

Processing Charges

1.8 % of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Dishonour Charges

750 per instance

Lowest EMI

2049  Per Lakh

Why Punjab National Bank Personal Loan?

Punjab National Bank is one of the most popular public sector banks in India. Personal Loans from Punjab National Bank are designed to cater to different segment of borrowers with utmost ease. The bank extends personalized products for diversified customer base. From old age pensioners to young salaried individuals, to self-employed professionals, all can rely on PNB Personal Loans for hassle-free funding.

A customer opts for PNB Personal Loan as it offers:

  • Convenient loan processing
  • Fast loan disbursal
  • Affordable and competitive rate of interest
  • Transparent policy with no hidden charge
  • Customized offers and discount schemes
  • No charge foreclosure

PNB Personal Loan EMI Moratorium

Following RBI guidelines, Punjab National Bank has announced the COVID 19 relief scheme for its customers. The PSU bank has allowed all PNB Term Loan and Working Capital Credit Line customers to avail of a 3-month moratorium benefit on their EMIs and repayments falling due between March 1, 2020, to May 31, 2020.

Highlights of PNB Moratorium Scheme:

  • The PNB EMI Moratorium is extended to mitigate the financial challenges of existing Personal Loan and cash credit customers of the bank.
  • All these customers can choose to delay the instalments falling due between March 1, 2020, to May 31, 2020, without any charge.
  • The payment of principal, as well as interest on these instalments, is deferred for the said moratorium period, and the same will become due after the expiry of the relief period.
  • However, the interest will continue to accrue on the outstanding balance of the loan.
  • There will be no impact on the classification of assets on nonpayment under the Moratorium scheme.
  • The non-payment of EMIs will also not hurt credit score.
  • The borrowers are expected to repay the accumulated interest immediately after the moratorium period.
  • The option to avail of PNB moratorium is optional, and customers may choose to continue servicing the EMIs as per the existing repayment schedule.
  • To apply for PNB EMI Moratorium, customers are required to contact their branch and submit the request as per the annexed format released by the bank. They can call, email, or reply to the bank SMS.
  • Apart from all Term Loans such as Personal Loan, Home Loan, Education Loan, Auto Loan, and Agri Loans, the Moratorium relief is extended to Cash credit and Overdraft facilities as well. The SME credit facility customers should contact the RMs for repayment relief.

Features and Benefits of Punjab National Bank Personal Loan

Here's how Personal Loans by Punjab National Bank stand class apart from other lenders.

  • Collateral-free: Punjab National Bank offers Personal Loans without any collateral. You can borrow without pledging your assets.
  • Various Discount Schemes: PNB offers various discount schemes to make personal loans attractive as well as affordable for the borrowers. Government employees, doctors, and other working professionals can often find special offers on Personal Loans by PNB.
  • Attractive Interest Rates: Punjab National Bank offers competitive interest rates for the Personal Loans. The interest rates vary according to the market conditions, ensuring maximum benefits to the borrowers.
  • Quick Loan Approval: A special division for Personal Loans ensures streamlined processing of applications.
  • Extensive Network of Bank Branches: There are over 5,800 branches of Punjab National Bank in India where you can apply for Personal Loans.
  • Flexible Repayment Tenure: You can select the repayment period according to your convenience for the duration of 12 to 60 months.
  • High Quantum of Loan: PNB provides Personal Loans up to 20 times your net monthly income, subjected to a limit of 10 lakhs.
  • Customer Support: A dedicated customer care service is made available 24x7 to resolve consumer queries about the Personal Loan and its application process.
  • Low Processing Fee: The processing fee for Personal Loans is nominal at 1.80% of the loan amount.
  • Repayment Option: Once the application is approved and the interest rates are fixed, the borrowers can repay the debt as Equated Monthly Installments or EMI.

Punjab National Bank Personal Loan Interest Rates, Processing Fees, & Other Charges

Punjab National Bank's base rate is 9.25% w.e.f. 01.06.2018

And BPLR is 14.00% w.e.f. 01.05.2012

Punjab National Bank MCLR Rates effective from November 1, 2018, are:

MCLR Tenor




One Month


Three Months


Six Month


One Year


Three Years



Interest Rate for PNB Personal Loan


12% to 15%


12% to 15%



Loans up to 10 lakh -

For PNB salary account holders (Including Defence Personnel)

MCLR + 3.55%

Loans above 5 lakhs & up to 10 lac-

MCLR + 4.55%

Loans up to 5 lakhs

For individuals availing loan under check off facility (Including Defence Personnel)

MCLR + 5.55%

For other borrowers up to 5 lakhs

MCLR + 6.55%

Personal Loan to Pensioners (or Pension Loan)

MCLR + 2.80%

Processing fee

1.80% of the loan amount

Nil for pensioners

Documentation Charge

270 for loans up to 2 Lakhs
450 for loans above 2 Lakhs
500 for Pensioners

Foreclosure Fee


Types of Personal Loans Offered by Punjab National Bank

Punjab National Bank offers highly customized Personal Loans to meet personalized needs of the varied customer base. The different types of Personal Loans are:

PNB Personal Loan Scheme for Public

PNB Personal Loan Scheme for Public offers loans up to 5 lakhs to the eligible applicants without any collateral. The loan amount can be spent for any purpose such as medical need, settling debts, travelling, restoration works or more.

Personal Loan Scheme for Pensioners

Punjab National Banks' Personal Loan Scheme for Pensioners aims to provide financial assistance to the individuals drawing pensions through PNB. This collateral free loan offers funds up to 10 lakh for all types of pensioners who draw their pension through the PNB branches.

PNB Baghban

PNB Baghban is a reserve mortgage Credit Lending Scheme for Senior Citizens who own homes in India. PNB Baghban is aimed to help the financial needs of senior citizens owning self-occupied property but struggle to manage income for day-to-day requirements. It provides a loan amount up to 100 lakh (including interest) based on the value of the property. The loan amount would be disbursed as a regular fixed monthly payment till the loan period or death of the last surviving spouse.

Residual life of this residential property should be at least 20 years. The type of mortgage will vary according to the documents of ownership being submitted. Piloted by a preliminary examination of the papers produced by the applicant, the company's legal officers will propose the type of mortgage that will be required.

Advance Against Gold Jewellery / Ornaments & Gold Coins

This is a secured loan that provides funding for both productive (like agriculture) as well as non-productive purposes. For productive purposes, a loan amount has no upper limit while for non-productive purposes, the maximum loan amount is 10 lakh. The loan amount is dependent on the value of gold submitted as security. The rate of interest is attractive, and it offers hassle-free funding at affordable EMI.

Punjab National Bank Personal Loan Eligibility

Certain eligibility criteria are required to be met for approval of Personal Loans from Punjab National Bank. Here is a quick checklist of factors that affect the eligibility of the PNB Personal Loans:

  • An applicant must have a stable source of monthly income.

  • For the salaried individuals, the age should be between 21 and 58 years.

  • The self-employed applicants should be between 21 and 65 years.

  • Pensioners who apply for the loan should be drawing their pensions through the Punjab National Bank.

  • The salary of the applicant should be more than 15,000 in metro cities, and at least 10,000 in rural areas. You can contact MyMoneyMantra loan representative to inquire about eligibility limit for your city/town.

  • The self-employed applicant must be earning more than 20,000 every month at least for the last two years.

  • For PNB Baghban Personal Loan, the applicant must be a senior citizen, i.e., at the age of 60 or above and own a residential flat or house. The house should be in the applicant's name or jointly with their spouse. One of the spouses is required to be more than 60 years old.

Punjab National Bank will give you loan amount based on your plan and requirement. The maximum amount that can be borrowed is based on your monthly income and relationship with the bank. For regular customers, the maximum amount that can be borrowed is 4 lakh or 20 times their net monthly salary whichever is lesser.

The applicants who have completed 3 years of service in their current company and have a monthly income of more than 30,000 are eligible for a maximum loan amount up to 5 lakh. Up to 10 lakh can be borrowed by the applicants who have been drawing their salary through Punjab National Bank. These customers are expected to have a salary of more than 50,000 in metro cities, 40,000 in urban areas, and 30,000 in rural areas.

The pensioners, however, are eligible for a loan amount up to 10 lakh or 18 times their monthly pension whichever is lower. The maximum amount is reduced to 5 lakh for the customers who are above 75 years of age. For PNB Baghban, the qualifying amount would be the realizable value of the property with 20% margin. The maximum amount that can be borrowed is restricted to 100 crore.

Other eligibility criteria:


 Higher is the CIBIL score; higher are the chances for loan approval. Applicants with a good CIBIL score can avail loan at low rate successfully. Ideally, CIBIL score over 700 points is required to qualify for PNB Personal Loan. However, people with a low score can be approved at higher rate of interest.

Loan Guarantor
Collateral is not required for the Punjab National Bank's Personal Loan. But a suitable third party guarantee is accepted by the bank. For PNB Baghban, an equitable mortgage of residential property is accepted as a security.

Debt to Income Ratio

 The existing debts in the form of Housing Loans, Car Loans, etc. can restrict the maximum loan amount you can borrow.

Documents Required for Punjab National Bank Personal Loan

The following documents are required by the consumer to apply for a PNB Personal Loan:

Verification Purpose Salaried Self-Employed

Proof of Identity

Voter ID, Passport or Driving License

Proof of Address

Ration card, telephone bill, electricity bill, rent agreement or passport

Proof of Income

Salary Certificate issued by employer (indicating gross and net salary)/ Form 16

Income Tax Return for last 3 years

Other Requirements

*Proof of Education/ Qualification
*Age Proof

Other Products by Punjab National Bank

Punjab Nation Bank Housing Loans

Punjab National Bank offers various forms of Housing Loans according to diversified consumer needs. The rate of interest for the PNB Home Loans is attractive enough, starting at 8.35%. The Home Loan tenure is flexible for a range of customers. You can borrow Home Loans by PNB for up to 30 years. With the lowest EMI starting at 758 per lakh, there are enough varieties to meet every customer's requirements.

The PNB Home Loans are available for constructing or buying a new house, renovating the existing house and for purchasing land to build the house.

Eligibility criteria

  • The applicant must have an established regular income

  • Applicant must be older than 18 years and younger than 70 years

PNB Vehicle Loans

PNB offers lucrative Vehicle Loan schemes with interest rates as low as 8.50% to 8.95% and repayment period up to 7 years. This vehicle loan is available for both new and used vehicle.

Eligibility Criteria

  • The applicant should be at least 21 years of age.

  • Minimum income to qualify for this scheme is 20000

  • The credit score of the applicant should be sound, and there should not be a default history.

PNB Education Loan

Punjab National Bank provides easy Education Loan for exemplary students so that they can chase their dreams of higher studies without any financial qualms. The loan covers expenses for fees, caution deposit, books, equipment, course-related travel, and insurance premium for the student. The PNB Education Loan up to 7.5 lakhs is available for a maximum tenure of 10 years, and for the loan amounts above 7.5 lakhs. The repayment tenure is up to 15 years.

Eligibility Criteria

  • The borrower should be an Indian citizen.
  • The borrower should have secured admission in any of the recognized educational institutions in India through an entrance test or merit-based selection process.
  • Management quota admissions are also eligible in special cases.

How to Calculate Punjab National Bank Personal Loan EMI?

The Punjab National Bank Personal Loan EMI can be easily calculated using the MyMoneyMantra EMI Calculator. It is one step, instant Loan EMI Calculator.

All you need to do is fill the basic loan parameters such as amount, interest rate and tenure. As you press the Calculate icon, it will provide details: loan EMI, total payable interest and total payment.

You can use EMI calculator a number of times and compare different combination so as to assess the most affordable repayment plan for yourself.

The EMI of a loan depends on the following factors:

Interest rates: The interest rate is subject to market conditions. Currently, PNB offers Personal Loans starting from 11.7% to 15%. The effective rate of interest depends upon your precise requirement, product, and profile. Higher the interest rate, higher will be monthly installment or EMI.

Loan Tenure: The total loan repayment tenure directly affects the monthly installments. Longer the loan tenure, shorter will be the EMIs. However, it directly depends on your age if you will be qualified for longer tenure or not. The young people are more likely to be approved for long-term loans.

Loan Amount: Besides the loan interest rate and tenure, it is the loan amount that predominantly affects your EMI. You must always borrow according to your repayment capacity.

Why Apply for Punjab National Bank Personal Loan on MyMoneyMantra?

MyMoneyMantra supports and assists borrowers throughout their borrowing journey; right from loan application, to the documentation submission, to loan approval and disbursement, MMM serves as a dedicated Personal Loan Assistant for each customer, irrespective of the ticket size of the loan.

We are committed to help you acquire the Personal Loan at the best possible price. Often the paperwork is so hectic to be done alone. We not only guide the consumers to locate the best-suited credit offer for their requirement and profile but also guide them to complete the application process without any hassle.

MyMoneyMantra assures the best financial advice in the shortest turnaround time. The entire process is completed online. For customers, who prefer a physical communication, we ensure a visit by the lender to their doorstep. You do not need to worry at any step while we search out the best Personal Loan for you.

Our Loan advisors are available 24X7 online as well as on a call.

How to Apply for Punjab National Bank Personal Loan on MyMoneyMantra?

MyMoneyMantra helps you apply for Personal Loan from Punjab National Bank without delay. All you need to do is visit the official MyMoneyMantra website and share the following information:

  • Name and email address
  • City of residence
  • Income source (salaried or self-employed)
  • Details about current employer
  • Loan amount required
  • Loan tenure
  • Phone number

Please ensure that you share your details on MyMoneyMantra website only and not on any third party site. We ensure complete data security of our customers.

After you share your contact number, we will verify your phone number by sending an OTP to your mobile number. You will be directed to log in to a unique customer space using the OTP. Here you will receive a list of available lenders according to your requirements. You can select the Punjab National Bank as the loan provider and click on the link to complete the application process within a few seconds.

After receiving your request, our Loan advisor will contact you with all the necessary assistance at free of cost. Our assistance will be available at every step of acquiring the loan. You can be rest assured to avail the best loan advice according to your budget and preferences. 

Punjab National Bank Personal Loan Customer Care

Punjab National Bank is a customer-friendly lender.

You can dial the following numbers to connect to the contact centers.

Toll-free numbers 1800 180 2222 or 1800 103 2222

Tolled number: 0120 2490000

Landline number: 011-28044907

To add more ease to the customers, PNB also extends regional language support to customers on customer care telephone calls. Customers can report their disputes or queries with more ease in their regional languages like Tamil, Telugu, Kannada, Malayalam or Punjabi, besides English and Hindi.

Customer care email id is: care@pnb.co.in

You can also fill online complaint form by visiting the official PNB website.

A customer can also report any issue to the branch manager by filling up a complaint form in person. An online facility is also available for customers to register a complaint. If the reply from the branch manager is not satisfactory, you can raise the issue to Circle Head of the Punjab National Bank. Further, a Zonal Manager will handle your matter.

You can use the contact banking ombudsman if the bank fails to resolve or do not reply to your query. The address and area of operation of the ombudsman can be found in the below link: https://www.pnbindia.in/document/Banking_ombudsman.pdf

Punjab National Bank Latest News

PNB cuts lending rates; Lower EMIs for customers

Punjab National Bank has slashed its lending rates w.e.f. June 1,2020. The bank has reduced Repo Linked Lending Rates by 40 basis points and MCLR by 15 basis points on Loans and Advances across all tenors. The new RRLR stands at 6.65 per cent, while the one-year MCLR Rate is 7.60% p.a. Read More

PNB Launches Sahyog COVID 19 Personal Loan for Its Customers

To mitigate the financial pressure of its customers, PNB launches an exclusive Sahyog COVID 19 Personal Loan up to 3 Lakh for PNB and erstwhile UBI and OBC salary account holders. The existing PNB Personal Loan customers can make use of a total preapproved limit to the tune of 10 Lakh. Read More

Get 3 Months Moratorium on Your Loans with COVID-19 Relief by PNB

In the wake of coronavirus pandemic, the Punjab National Bank is extending COVID-19 Relief to its customers to defer their instalments or interest falling due between 01.03.2020 to 31.05.2020 for 3 months.Read More

PNB gets top rank in the digital transaction

Punjab National Bank has been rated as the number one bank owned by the state in terms of digital transactions. The press statement by the bank said: Based on the recent findings of DFS, PNB is ranked number one PSU bank in digital transactions in India.

Is merger of PNB, OBC, Andhra Bank on the roll?

Following the decision to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank, the central government is seriously considering merger of three public sector banks (PSBs) including Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and Andhra Bank, according to a report by DNA Money.

PNB receives 2,816 crore as part of the government's capital infusion plan

Punjab National bank has acquired 2,816 crore as a capital infusion from the government via a preferential allotment of equity shares.

Frequently Asked Questions

I am a self-employed Individual. Can I get a Personal Loan from Punjab National Bank?

Yes. Personal Loans from Punjab National Bank are offered to salaried as well as self-employed individuals. However, the rates may vary. Contact our loan experts to know about the most affordable offer. As a self-employed applicant, you can also use the Advance against Gold Jewellery for affordable credit.

What is the collateral required for the Personal Loan by PNB?

To avail a Personal Loan from Punjab National Bank, you do not require any collateral or loan security.

How can I repay Personal Loan?

You can repay Personal Loans via post-dated cheque or using the ECS facility.

Can I pay out Personal Loan EMI ahead of schedule?

You can certainly repay your loan amount ahead of schedule. The bank will not levy any charges on that.

What is the total time required for loan processing?

The time required to complete the whole process depends upon the quality of the paperwork being submitted. With properly done paperwork, the loan disbursement can be carried out smoothly.

What is the processing fee applicable to the Personal Loan?

A processing fee of 1.80% of loan amount is applicable for salaried and self-employed applicants. For pensioners, zero processing fee is charged.

I am a salaried applicant, what are the documents required for PNB Personal Loan?

The following documents are required for a self-employed loan application:

Proof of Identity: Voter ID/ Passport/ or Driving License

Proof of Address: Ration card/ telephone bill/ electricity bill/ house rent agreement/ or passport

Latest salary slip

Current dated salary certificate with latest form16

How can I calculate my EMI?

You can calculate your Loan EMI using the EMI Calculator on MyMoneyMantra website. It is accurate, instant and free of cost.

What is the permissible loan tenure for Personal Loan?

The Personal Loans are offered for 12 to 60 months. The time you qualify for depends upon your credit profile.

Do I need to have an account in Punjab National Bank to qualify for a PNB Personal Loan?

NO, it is not necessary to have an account in the Punjab National Bank to apply for a loan. However, the account holders can certainly enjoy additional benefits.

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