PNB Personal Loan Interest Rates

Apply for Punjab National Bank Personal Loan online at interest rate starting from 8.45% and processing fee up to 1% of loan amount for maximum up to 84 months.

Punjab National Bank Personal Loan Interest Rates 2021

Interest RateStarting @ 8.45%
Processing FeeUp to 1% of loan amount
Loan TenureUp to 84 months
Lowest EMI Per Lakh₹ 1,581 for 7 years
Prepayment ChargesNil charges for floating rates loans

Features and Benefits of PNB Personal Loan Interest Rates

  • PNB Bank personal loan interest rates are competitive and range from 8.45% p.a. to 14.50% p.a., depending on the type of loan. 
  • The bank offers concessions in rates of interest up to 1% for Doctors who maintain their salary or the receipt collection account with PNB or who provide tangible security up to 100% of the loan amount. 
  • Employees of the institutions or corporations having exclusive Tie-Ups with PNB and having minimum 100 employees (50 for Tie-ups with Educational Institutions) maintaining salary accounts with PNB, get 0.50% concession in applicable PNB personal loan interest rate for salary account.
  • 0.10% concession in applicable rate is offered to the customers who opt for coverage under Credit Life Insurance.
  • The processing fee for the loan is nominal at 1% of the loan amount. 
  • The bank charges zero processing fee from defence personnel. 
  • The bank permits pre-closure and part prepayment for the loan without any penalty.

PNB Personal Loan Schemes Interest Rates

The rate of interest depends on the category under which the loan is availed.  PNB Personal Loan interest rates are linked to Repo Linked Lending Rate (RLLR), which is 6.80% w.e.f. 01.09.2020.

  • Interest rates for PNB personal loan for salaried are different from PNB pensioner loan and Doctor’s loan.
  • PNB offers personal loan to Defence/Paramilitary personnel drawing salaries through PNB (including customers covered under Rakshak Plus scheme) at 8.95% p.a. rate of interest. 
  • The bank also offers loans to Government Employees drawing salaries through PNB and Central Government gazette officers not having salary accounts with PNB at interest rate of 9.30% to 11.80% p.a.
  • For loan to Corporates/other Employees drawing salaries through PNB and Government Employees not drawing salaries through PNB (other than Central Government gazette officers, the interest rate varies between 10.30% t0 13.80% p.a.
  • There is a loan for employees under check off facility, for which the interest rate can vary between 11.80% to 14.50% p.a.
  • There is a personal loan scheme for doctors, i.e. Doctor’s Delight, starting at the rate of 8.95% p.a. 
  • Pensioners can also avail of personal loans from PNB. PNB pensioner loan interest rates start from 9.30% p.a.

Eligibility criteria for PNB Personal Loan

  • Minimum age requirement is 21 years and maximum age requirement is 60 years.
  • The loan is not offered to the personnel who are retiring in the next 24 months.
  • Confirmed permanent employees of the State/Central Government Departments/ Autonomous bodies/ Other Reputed Companies/ Schools/ Colleges/ Hospitals/ Nursing Homes, etc., are all eligible.
  • Salaried individuals should maintain the salary account with PNB or the employers should agree to deduct the EMI from the employee's salary.
  • Doctors who are professionally qualified and are either practising or serving are eligible for the loan. 
  • The minimum net monthly income requirement is: 
    • Employees with 3 years service in the present organisation: Rs. 50,000 for metro areas, Rs. 40,000 for urban areas and Rs. 30,000 for semi-urban areas. 
    • Defence Personnel & Teachers: Rs. 7,500 for all areas.
    • All others: Rs. 15,000 in metro areas, Rs. 12,500 in urban areas and Rs. 10,000 in semi-urban areas. 
    • Doctors: Net annual income of Rs. 5 Lakhs with ITR of the last 2 years.
  • The borrowers should have been residing in the present address continuously for a minimum period of 2 years (not applicable for government Doctors).

Documents Required for PNB Personal Loan

  • Application form - duly filled and signed. 
  • 2 passport size photographs.
  • Address proof, such as Aadhar Card, Voter's ID Card, Driving Licence, or Utility Bills.
  • Photo ID proof, such as PAN Card, Passport, Driving Licence, or Voter's ID Card.
  • Income proof for salaried applicants, including latest Salary Certificate and latest Form 16 attested by the employer (for salaried).
  • Income proof for self-employed applicants, including the copy of ITR with acknowledgement for the last 3 years.
  • Any other document as required by the bank.

How to Apply for a PNB Personal Loan through MyMoneyMantra?

If you are looking for Punjab National Bank personal loan apply online instantly through MyMoneyMantra by following the steps mentioned below:

  • Log in to the website of MyMoneyMantra and go to the Personal Loan section given under the Loans tab.
  • Provide the required details, including name, email address, present location, employment, loan amount, loan tenure, and mobile number.
  • An OTP will be generated and sent to the mobile number.
  • A page will open up wherein you will have to log in using the OTP number.
  • On this page, you will see a list of best quotes and you can select PNB for the loan and tap on the link to complete the loan application process.
  • Once the request is placed, the loan expert of MyMoneyMantra will contact you to take it further from there till the disbursement of the loan.
  • With assistance from MyMoneyMantra, you can be confident of bagging the best deal with an EMI to suit your budget.

PNB Personal Loan Customer Care Numbers

PNB provides 24 x 7 Customer Care Service to attend to queries and grievances of the customer.

You can avail of the Customer Care Services by dialling the following numbers:

Toll-Free: 1800 180 2222 OR 1800 103 2222

Tolled: 0120 2490000

Landline: 011 28044907

Kotak Personal Loan Festival Offer 

Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years. 

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

PNB Personal Loan Interest Rates FAQs

What is the minimum salary to get a PNB personal loan?

The minimum net monthly income requirement for PNB personal loan is: 

  • Employees with 3 years service in the present organisation: Rs. 50,000 for metro areas, Rs. 40,000 for urban areas, and Rs. 30,000 for semi-urban areas. 
  • Defence Personnel & Teachers: Rs. 7,500 for all areas.
  • All others: Rs. 15,000 in metro areas, Rs. 12,500 in urban areas, and Rs. 10,000 in semi-urban areas. 
  • Doctors: Net annual income of Rs. 5 Lakhs.

Doctors: Net annual income of Rs. 5 Lakhs. How to close my Punjab National Bank personal loan online?

You can foreclose your PNB personal loan account by visiting the PNB branch with the required documents. Submit the pre-closure form, pay the balance amount and take the acknowledgement for the same. The bank doesn’t allow online foreclosure.

Are there any extra fees or charges applicable to a Punjab National Bank personal loan?

Yes. You have to bear the following charges as well apart from interest rate on PNB personal loan: 

  • Processing charges:
    • Personal Loan Scheme for Public: Up to 1% of the loan amount.
    • Personal Loan to Doctors: 0.90% of the loan amount. 
  • Documentation charges:
    • Personal Loan Scheme for Public: Rs. 270 for loan up to Rs. 2 Lakhs and Rs. 450 for loan above Rs. 2 Lakhs.
    • Personal Loan to Doctors: Rs. 450.
    • Personal Loan to Pensioners: Rs. 500.

What is the nature of the facility available under PNB Personal Loan?

The PNB Personal Loan can either be availed as a Term Loan or an Overdraft facility.

What is the rate of interest stipulated for the PNB Personal Loan?

The rate of interest stipulated is ranging from 9.95% to 14.50% p.a. depending on the scheme under which the loan is availed.

What is the repayment period stipulated for the PNB Personal Loan?

  • The PNB Personal Loan to Public has to be repaid within a maximum period of 60 months
  • The maximum repayment period for Personal Loans to Doctors is 84 months
  • The maximum repayment period for Personal Loans to Pensioners is 60 months
  • Pensioners who are above 75 years of age should repay the loan within 24 months

What are the processing charges collected for PNB Personal Loan?

  • The processing charges for Personal Loan to Public are 1.80% of the loan amount
  • For the Personal Loan to Doctors, the processing charges are 0.90% of the loan amount
  • There are no processing charges for the Personal Loan to Pensioners