Punjab National Bank Personal Loan - Features & Benefits

Objective: To make available Financial Assistance to the public for their personal needs.

Purpose

To meet all types of personal needs (e.g., for medical treatment of self or a family member, marriage of self, son/daughter, defraying expenses on education of wards, expenses for domestic or foreign travel etc.)
Quantum of Finance Minimum Rs.50000/-

Maximum:

For All borrowers:

Rs. 4,00,000 or 20 times monthly net salary whichever is lower subject to minimum Net monthly salary as under:

Metro Centres : Rs.15000/-

Urban Centres : Rs.12500/-

Semi- Urban/ Rural Centres : Rs.10000/-

And Rs. 5,00,000/- or 20 times monthly net salary whichever is lower for those Salaried persons having completed service of 3 years in the present organization & drawing net monthly salary of not less than Rs.30,000/- p.m.
For employees drawing salary through our bank and completed 3 years of service in the present organization: Max. Rs.10 lac or 20 times of Net monthly salary for loan upto Rs.5 lac and 15 times of Net monthly salary for loan above Rs.5 lac and upto Rs.10 lac.

Subject to Minimum Net monthly salary as under:

  • Metro Centres : Rs.50000/-
  • Urban Centres : Rs.40000/-
  • Semi- Urban/ Rural Centres : Rs.30000/-
  • For teachers and Defence personnel minimum Net Monthly Income shall be Rs.7500/- at all Centres.

Margin: NIL

Security

  • Suitable third party guarantee acceptable to the Bank
  • Repayment (Maximum)

Term Loan:

Within remaining period of service or in maximum 60 EMIs whichever earlier

Overdraft:

60 months by reducing Drawing Power (DP) equivalent to EMI.

The income of spouse be included while ascertaining the repaying capacity where the spouse is confirmed/ permanent employee of Central. State Govt.,/ PSUs and reputed companies/ Institutions including Schools, Colleges, Universities, Autonomous bodies, Hospitals, Nursing Homes. In such cases, the spouse is to be made as co-borrower.

Repayment (Maximum)

Minimum Rs.50000/-

Maximum:

  • For All borrowers:
  • Rs. 4,00,000 or 20 times monthly net salary whichever is lower subject to minimum Net monthly salary as under:
  • Metro Centres : Rs.15000/-
  • Urban Centres : Rs.12500/-
  • Semi- Urban/ Rural Centres : Rs.10000/-

And Rs. 5,00,000/- or 20 times monthly net salary whichever is lower for those Salaried persons having completed service of 3 years in the present organization & drawing net monthly salary of not less than Rs.30,000/- p.m.
For employees drawing salary through our bank and completed 3 years of service in the present organization: Max. Rs.10 lac or 20 times of Net monthly salary for loan upto Rs.5 lac and 15 times of Net monthly salary for loan above Rs.5 lac and upto Rs.10 lac.

Subject to Minimum Net monthly salary as under:

  • Metro Centres : Rs.50000/-
  • Urban Centres : Rs.40000/-
  • Semi- Urban/ Rural Centres : Rs.30000/-
  • For teachers and Defence personnel minimum Net Monthly Income shall be Rs.7500/- at all Centres.
Prepayment Charges: NIL

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