Punjab National Bank Personal Loans

Punjab National Bank of India, the first Indian bank started only with Indian capital, was nationalized in July 1969 and currently the bank has become a front-line banking institution in India with 4525 Offices including 432 Extension Counters. The corporate office of the bank is at New Delhi. Punjab National Bank of India has set up representative offices at Almaty (Kazakhistan), Shanghai (China) and in London and a full fledged Branch in Kabul (Afghanistan).

Punjab National Bank (PNB) has been ranked 38th amongst top 500 companies by The Economic Times. PNB has earned 9th position among top 50 trusted brands in India.

The Punjab National Bank of India or PNB has launched the concept of “Any Time, Any Where Banking” through the introduction of Centralized Banking Solution (CBS) and has recently introduced On line Payment Facility for railway reservation through IRCTC Payment Gateway Project and On line Utility Bill Payment Services, allowing Internet Banking account holders to make their payments anytime from anywhere. Another step taken by Punjab National Bank of India is the launch of its ATM- cum- Debit card.

Eligibility for all types of personal loans:

  • All permanent Defence Personnel including officials of Military Station Headquarters, BSF, CRPF, CISF, ITBP
  • Confirmed/ permanent employees of Central/ State Govt/ PSUs and all reputed companies/ Institutions, who are drawing their salary through accounts maintained with PNB branches.
  • Employees of above categories under ‘check-off facility’ OR having minimum annual income of Rs.3.00 lakhs.
  • Professionally qualified Doctors viz. MBBS, BDS & above having annual income of Rs.3.00 lakhs & above.

However, for Teachers, Army Jawans, other permanent employees of Military Station Headquarters and Para Military Personnel whose salary is being credited and disbursed through PNB branches the minimum Net Monthly Income criteria shall be Rs.5000/- at all Centres viz. Metro, Urban, Semi-Urban and Rural.

Term Loan/ Overdraft – Minimum amount of loan will be Rs.10,000/- and maximum amount of loan Rs.3,00,000/- or 30 times monthly net salary, whichever is lower, depending upon the repaying capacity.

There is no Margin and a Suitable guarantee acceptable to the Bank.

As per the Repayment is concerned 60 Equated Monthly Instalments (EMIs) OR remaining period of service, whichever is earlier. Installment to commence one month after disbursement of loan.

However, loan allowed to Army Jawans, other permanent employees of Military Station Headquarters and Para Military Personnel shall be Repayable in maximum 36 Equated Monthly Installments or remaining period of stay at the particular posting, whichever is lower.