PNB Personal Loan Application Status

PNB offers different ways to check the status of personal loan applications. Customers can do so online and through customer care centres. They can also use their mobile banking platforms to determine their status.

An alternative way is to contact the branch manager of the respective PNB branch. However, the easiest way is to check the status online. It is because you can do so from anywhere and at any time.

Generally, PNB will take a couple of days to collect the documents and process the loan applications. Therefore, customers should check the loan status a minimum of three days after submitting all documents connected with the personal loan.

If the loan is approved and sanctioned, you will get the Approved status. If the loan application is in process, you will receive a message accordingly. If the bank rejects your loan proposal, you will get the status ?Rejected.?

The sanctioning of the personal loan is at the discretion of the bank. Generally, PNB approves personal loans of all customers who satisfy the eligibility criteria. If there is any defect in the application process, the bank informs the same to the customer and seeks clarification. If the loan applicant does not satisfy the eligibility criteria, it can reject the loan giving proper reasons for the same.

You should check out the reasons for the rejection of the loan by the bank. If you can rectify the shortcomings, you can do so and apply again. If the reason for rejection is a low CIBIL score, you should approach CIBIL and check out the credit report. If you find any inaccuracies, you should take up the matter with CIBIL to rectify the same. On improving your CIBIL score, you can apply for the PNB Personal Loan again.

Once your personal loan is approved, the bank will contact you to complete the loan documentation process. Complete the process and take the disbursal of the loan in your savings account.

Generally, personal loans do not need collateral or guarantee. However, PNB Personal Loan for Public and Personal Loan for Pensioners require the furnishing of a third-party guarantee acceptable to the bank. In the case of PNB Personal Loan for Doctors, the borrower can furnish a third-party guarantee or offer collateral up to 100% of the loan amount. Borrowers offering 100% collateral get a concession of 1% in the interest rate.

PNB refers to its RLLR for determining the interest rate on personal loans. The RLLR is a floating rate. Hence, the interest rates on personal loans are floating rates of interest.

If the rates of interest go up, PNB increases the EMI accordingly. However, if the rates go down, the bank does not change the EMI. The loan tenure reduces proportionately.

No, PNB offers these services free of charge. You do not have to pay any fee for the same.

Yes, you can clarify your doubts with PNB by sending an email to care@pnb.co.in.

You can visit the official webpage of PNB Personal Loans, https://www.pnbindia.in/personal.html, to get