PNB Personal Loans Eligibility

Punjab National Bank offers personal loan to salaried, self-employed, doctors and pensioners. You must be aged below 60 years and should have minimum work experience of 2 years to meet Punjab National Bank Personal Loan Eligibility Criteria.


PNB Personal Loan Eligibility Criteria

Each Personal Loan offered by PNB has its eligibility criteria, as mentioned below:

Personal Loan Scheme for Public Eligibility

  • All permanent Defence Personnel that includes individuals from Military Station Headquarters, CISF, CRPF, BSF, ITBP, and so on.
  • The military personnel should not be due for retirement in the next 24 months
  • Confirmed employees of State and Central Government departments, PSUs, reputed companies, educational institutions, hospitals and nursing homes, and so on drawing their salary through PNB.
  • The facility is also extendable to such persons if their employer agrees for the check-off facility.

PNB Doctor Delight Eligibility

  • Professionally qualified doctors who are either practising independently or serving
  • Professional qualifications MBBS, BDS, and above
  • Minimum annual income or salary 5 Lakhs
  • The doctors should be income taxpayers for a minimum of 2 years
  • The applicant should be residing at the current residence for a minimum of 2 year
  • This condition does not apply in the case of doctors who are employed with the Government or other institutions.

Personal Loan Scheme for Pensioners Eligibility

  • All types of pensioners who are drawing a pension from the branches of PNB

PNB Baghban Reverse Mortgage Eligibility

  • Indian resident, aged 60 years and above, owning a residential flat in their name singly or jointly with the spouse.
  • In the case of a joint account, one of the spouses should be of 60 years and above with the other being a minimum of 58 years old.

Advance against Gold and Jewellery Eligibility

  • All Indian residents and NRIs are eligible

Advance against Sovereign Gold Bonds Eligibility

  • Resident Indian individual singly or jointly
  • Resident Indian individual on behalf of the minor child
  • Non-individuals such as trusts, HUF, Charitable institutions and universities

Loan against Mortgage of Immovable Property Eligibility

  • Personal needs Employees of Central and State Governments, PSUs, educational institutions, reputed corporates, and other IT assesses below 70 years of age.
  • Business needs Existing customers with a satisfactory record for the last 3 years
  • Salaried and other IT assesses Minimum net monthly salary should be 25,000 or the minimum annual income level at 3 Lakhs.
  • Business enterprises Minimum net profit of 3 Lakhs

Online Overdraft Facility to Internet Banking Customers Against FD  Eligibility

  • Customers using internet banking facility having FD in their names with a minimum residual period of 3 years.
  • Customers holding Tax Saver or Capital Gains FD are not eligible for this facility.

Additional Info: Check PNB Personal Loan Interest Rates for Salaried Account holder.

PNB Personal Loans without Collateral At a Glance

Following are the features of personal loans offered by PNB without collateral:

Loan ProductIdeal forMaximum Loan AmountRate of InterestMaximum Loan Tenure
Personal Loan Scheme for PublicGeneral public to meet their requirementsRs 10 Lakhs11.40%60 months
PNB Doctors DelightMeeting the professional and personal needs of doctorsRs 15 Lakhs9.95%84 months
Personal Loan Scheme for PensionersIndividual requirements of pensioners including medical expensesRs 10 Lakhs10.75%60 months

Note: Now Customer can also check their transactions made with PNB Mini statement Check Number service.

PNB Personal Loans With Collateral At a Glance

Following are the features of personal loans offered by PNB that require collateral:

Loan ProductIdeal ForMaximum loan amountRate of interestMaximum loan tenure
PNB BaghbanSenior citizens to supplement their monthly incomeRs 1 Crore10.55%20 years
Advance against Gold JewelleryPersonal requirements of agriculturists and general publicRs 10 Lakhs9.55% to 10.55%1 year
Loan against Mortgage of Immovable PropertyPersonal and business requirementsRs 25 Lakhs for personal needs and 5 Crores for business needs9.70% to 14%10 years
Advance Against Sovereign Gold BondsPersonal useRs 10 Lakhs8.95% to 9.95%8 years
Online Overdraft Facility against Fixed DepositsPersonal usesRs 5 Crore against Sugam Deposit and  Rs 1 Crore against other deposits1% more than FD rate3 years

Additional Info: Check PNB Insta Loan & Apply.

PNB Personal Loans Without Collateral Details

Personal Loan Scheme for Public

PurposeMeet all individual requirements of the general public
Quantum of loan

A: Minimum net monthly salary of employees in

  • Rural and semi urban areas 10,000
  • Urban centres 12,500
  • Metro centres 15,000

B: The minimum loan amount is 50,000 with a maximum of 20 times the NMI or 4 Lakhs, whichever is less. B:  Minimum net monthly salary of 30,000 and employee having completed 3 years of service.

  • Minimum loan amount  50,000
  • Maximum amount  20 times of NMI subject to a maximum amount of 5 Lakhs

C:  Employees drawing salary through PNB branches and completed three years of service and drawing minimum net income as follows:

  • Rural and semi-urban areas  30,000
  • Urban centres  40,000
  • Metro areas  50,000

The minimum loan amount is 50,000

The maximum amount is 10 Lakhs subject to 20 times NMI for loans up to 5 Lakhs and 15 times NMI for loans between 5 Lakhs and 10 Lakhs.

D: For teachers and defence personnel the minimum net monthly income can be 7,500 at all centres.

SecurityThird party guarantee as acceptable to the bank
Rate of interest11.40% depending on the internal credit rating of the bank
Type of loanTerm Loan or Overdraft facility
  • Term Loan  Maximum of 60 months within the residual service period
  • Overdraft  60 months with reducing drawing power equivalent to the EMI
Processing charges1.80% of the loan amount

Personal Loan Scheme for Pensioners

PurposeOwn needs of pensioners such as medical emergencies
Quantum of finance

Minimum 25,000 Maximum limit depends on the age of the pensioner

  • Up to 70 years 18 times the net monthly pension, or 10 Lakhs, whichever is lower (20 times the net monthly pension for defence pensioners).
  • Above 70 and up to 75 years The maximum amount of loan is 7.50 Lakhs.
  • Above 75 years of age 5 Lakhs or 12 months net pension amount whichever is less.
SecurityThird-party guarantee of the spouse eligible for family pension Or Third-party guarantee of employed children (preferably working with Government department) Or any other third-party guarantee acceptable to PNB
Rate of interest10.75%
  • A maximum of 60 EMIs for pensioners below 75 years of age
  • For pensioners above 75 years of age the maximum repayment tenure is 24 months
Processing chargesNil

Additional Info: Also check Personal Loan for Pensioners in India.

PNB Doctor Delight Personal Loan Scheme for Doctor
PurposeMeet personal and professional requirements of doctors
Quantum of finance
  • The minimum loan is 2 Lakhs
  • The maximum amount is 15 Lakhs, subject to 20 times of net monthly income with the condition that the net annual income should be a minimum of 5 Lakhs.
  • Third-party guarantee Or
  • Collateral to the value of 100% of the loan amount
Type of loanTerm Loan or Overdraft
Rate of interest9.95%
  • Term Loan 84 months
  • Overdraft Reducing DP method up to 84 months
Processing charges0.90% of the loan amount

PNB Baghban Reverse Mortgage Concept

PurposeGenerate supplementary income for meeting the day to day requirements
The maximum amount of loan
  • Realisable value of the residential property after deducting the margin of 20%.
  • The maximum value of the loan and the interest payable thereon should not be more than 1 Crore.
  • Lumpsum payment permissible up to the extent of 15 Lakhs for the medical treatment of the senior citizen and spouse.
DisbursementIn monthly instalments calculated on the Reverse Annuity basis
securityEquitable mortgage of the residential property
Rate of interest10.55%
  • After the demise of the last surviving spouse
  • The legal heirs get an opportunity to repay the loan and reclaim the property.
  • Otherwise, the bank can sell the property to realise their dues
Processing feesHalf month's loan instalment subject to a maximum of 15,000

Advance against Gold ornaments and Jewellery

PurposeTo meet the personal requirements of the general public
Quantum of loan
  • For product purposes No ceiling
  • For meeting own needs 10 Lakhs
  • Option 1 Bullet payment Margin is 35%
  • Option 2 Payment of interest when levied Margin is 25%
SecurityPledge of gold ornaments and jewellery
ValuationDepends on the bank's internal policies
Rate of interest9.55% to 10.55%

Loans for agricultural purposes

  • Interest servicing to coincide with the harvesting period with a stipulation that the account should be adjusted within 12 months
  • OD facility is subject to annual review
  • Repayment through Bullet payment

Loans for personal purposes

  • Regular servicing of interest subject to closure of account within 12 months
  • OD facility is subject to review every year
  • Bullet repayment is permissible
Processing fees0.25% of the loan amount

Advance against Sovereign Gold Bond

PurposeMeet personal requirements of the general public possessing gold bonds
Nature of facilityTerm loan and Overdraft
Quantum of the loan
  • Individual borrowers 25%
  • Non individuals 40%
SecurityLien/Pledge on the Sovereign Gold Bond
RepaymentInterest servicing monthly and the repayment tenure is a maximum of 8 years subject to the residual period of the bond.
Rate of interest8.95% to 9.95%
Processing feesNil

Loan against Mortgage of Immovable Property

PurposeFor personal and business purposes
Quantum of loan
  • Own requirements 1 Lakh to 25 Lakhs
  • Business purposes 5 Lakhs to 5 Crores
Limit assessment

The least of the following subject to the satisfaction of the maximum permissible deduction:

  • 75% of the realisable value of the security
  • Three times annual gross income or profit (whichever is less) for the term loan.
  • Four times annual gross income or profit (whichever is less) for OD
Maximum permissible deduction
  • Net salary up to 50,000 or annual profit after tax up to 5 Lakhs - 50%.
  • NMI between 50,000 and 1.25 Lakhs or Annual PAT between 5 Lakhs and 15 Lakhs - 60%.
  • NMI above 1.25 Lakhs or Annual PAT above 15 Lakhs 70%
SecurityEquitable mortgage of property
Rate of interest9.70% to 14%
Repayment tenure
  • Personal needs Maximum 120 months
  • Business needs Maximum 144 months for traders
  • For Service Sector 180 months
  • OD facility Reducing DP basis
Processing charges
  • Term Loan 0.90% of the loan amount with a minimum of 5,000 and a maximum fee of 1.25 Lakhs.
  • Overdraft 300 per lakh or part thereof annually

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PNB Personal Loans Eligibility FAQs

Are PNB Personal Loans available only to existing customers of PNB?


No, New customers who do not maintain accounts with PNB can also avail Personal Loans from the bank. Usually, the Personal Loans are available to customers maintaining salary accounts with the bank. Under exceptional circumstances, PNB grants Personal Loans to others provided their employer undertakes to deduct the EMI and credit the same to the loan account.

What distinguishes a Personal Loan from the other loans?


Personal Loans are loans where the borrower does not have to declare the end-use of funds. The other loans like home loans, vehicle loans, and so on require the borrower to state the reason for applying for the loan.

For what purposes does PNB sanctions Personal Loans?


PNB sanctions Personal Loans to enable its customers to cater to all kinds of personal or business emergencies.

What are the personal emergencies for which the bank grants Personal Loans?


The personal emergencies can range from wedding expenses to education of children. Other legitimate uses of Personal Loans are catering to medical emergencies, going on a holiday, repairing the house, and so on. The borrower should ensure not to use the loan for illegitimate purposes.

What are the illegal purposes that borrowers should not use the Personal Loan for?


Borrowers should not use Personal Loan money for speculative purposes. The speculative purposes include gambling, investing in shares, bullion, and other similar expenses.

How can the bank determine the end-use of funds?


PNB cannot determine the end-use of funds. However, the borrower has to undertake that he/she will not use the loan amount for speculative purposes.

What is the maximum age of the borrower on the date of the maturity of the Personal Loan?


The repayment tenure of the Personal Loan should not extend beyond the retirement date of the borrower.

Can pensioners beyond the age of 75 years apply for a Personal Loan?


Yes, pensioners beyond 75 years of age can apply for the Personal Loan, but the repayment tenure should not exceed 24 months.

Who qualifies as a third-party guarantor for a pension loan?


The person eligible to receive family pension can stand as a third-party guarantor. Usually, the spouse is the family pension holder.

What will happen if the pensioner borrower does not have a spouse?


Under such circumstances, the children of the pensioner above the age of 18 can pitch in as guarantor. The bank can also accept the guarantee of any other person if it is satisfied with their credentials.