A Complete Guide on How to Apply and Get Approved
Welcome to our comprehensive guide on PNB personal loan application form. Whether you’re looking to finance your dream home renovation or need emergency funds, PNB’s personal loan can help you meet your financial requirements in no time. Our step-by-step guide will help you understand the application process, eligibility criteria, documents required, interest rates, and other important details. Read on to learn more!
Who Can Apply for PNB Personal Loan?
PNB personal loan can be availed by salaried individuals, self-employed professionals or businessmen, and pensioners. The eligibility criteria and documents required for each category may vary, which we will discuss in detail later in this article.
What Are the Documents Required for PNB Personal Loan Application?
The following documents are generally required for PNB personal loan application:
Documents Required |
Salaried Individuals |
Self-Employed/Businessmen |
Pensioners |
|---|---|---|---|
Identity Proof |
PAN Card/Passport/Driving License/Voter ID Card |
PAN Card/Passport/Driving License/Voter ID Card |
PAN Card/Passport/Driving License/Voter ID Card |
Address Proof |
Aadhaar Card/Passport/Utility Bill (less than 3 months old) |
Aadhaar Card/Passport/Utility Bill (less than 3 months old) |
Aadhaar Card/Passport/Utility Bill (less than 3 months old) |
Bank Statement |
Last 3 months’ salary account statement |
Last 6 months’ bank statement |
Last 6 months’ pension statement |
Income Proof |
Salary slip (last 3 months)/Form 16 |
Income Tax Returns (last 2 years)/Audited Financials (last 2 years) |
Pension certificate |
It is always recommended to check the exact documents required as per your category and loan amount before applying.
How Much Loan Amount Can I Get with PNB Personal Loan?
The loan amount that PNB offers depends on various factors such as your income, credit score, repayment capacity, and other criteria. The minimum loan amount that you can apply for is Rs.50,000, and the maximum amount can go up to Rs.10 lakhs.
What Is the Interest Rate for PNB Personal Loan?
PNB offers personal loans at competitive interest rates starting from 8.45% per annum. The actual interest rate charged may vary based on your credit score, tenure, loan amount, and other factors. It is always advisable to check with the bank’s representative before applying.
What Is the Repayment Tenure for PNB Personal Loan?
The repayment tenure for PNB personal loan can range from 12 months to 60 months. You can choose the tenure as per your convenience and repayment capacity. However, it’s always better to keep the tenure shorter to avoid paying higher interest charges.
How to Apply for PNB Personal Loan?
Follow these simple steps to apply for PNB personal loan:
- Visit the official website of PNB or visit the nearest branch.
- Fill in the application form with accurate details.
- Attach all the required documents along with the application form.
- Submit the application form to the authorized representative.
- Wait for the loan approval and disbursal.
How Long Does It Take for PNB Personal Loan Approval?
The loan approval process for PNB personal loan can take anywhere between 2 to 7 working days. The time taken may vary based on several factors such as your credit score, eligibility, loan amount, and other criteria.
Can I Apply for PNB Personal Loan Online?
Yes, you can apply for PNB personal loan online by visiting the official website of the bank. The online process is simple, convenient, and hassle-free. You can also check your loan eligibility and calculate the EMI online before applying.
What Happens If I Miss an EMI Payment?
If you miss an EMI payment for PNB personal loan, the bank may charge a penalty fee ranging from 2% to 4% of the overdue amount. It can also negatively impact your credit score and affect your future loan applications. Hence, it’s always advisable to pay your EMIs on time to avoid any penalty charges.
Can I Prepay My PNB Personal Loan?
Yes, you can prepay your PNB personal loan anytime after paying a certain number of EMIs as per the bank’s policy. However, some banks may charge a prepayment penalty fee ranging from 2% to 4% of the outstanding loan amount. It is always advisable to check with the bank representative before prepaying your loan.
What Is the Processing Fee for PNB Personal Loan?
PNB charges a processing fee of up to 1.8% of the loan amount for personal loans. The actual processing fee may vary based on your category, loan amount, and other criteria. It is always advisable to check with the bank representative before applying.
What If My PNB Personal Loan Application Gets Rejected?
If your PNB personal loan application gets rejected, don’t worry. You can reapply after improving your credit score, income, repayment capacity, and other eligibility criteria. It is always advisable to check with the bank representative and understand the reason for rejection before reapplying.
Why Choose PNB Personal Loan?
PNB personal loan offers several benefits such as low-interest rates, flexible repayment tenure, minimum documentation, quick processing, and hassle-free disbursement. Moreover, PNB is a trusted and reputed name in the banking industry with over 125 years of experience.
Conclusion
In conclusion, PNB personal loan can be a great financial solution to meet your urgent cash requirements. By following our step-by-step guide, you can easily apply for PNB personal loan and get approved in no time. Don’t forget to check your eligibility, interest rates, EMI, and other criteria before applying. If you have any queries, feel free to contact PNB’s customer support team. Apply for a PNB personal loan today and fulfill your financial goals with ease!
DISCLAIMER:
The information provided in this article is for general informational purposes only and should not be considered as professional advice. We do not endorse any particular product, service or bank. Please consult a financial advisor or bank representative before applying for any loan or making any financial decisions. We do not take any responsibility for any loss or damages arising out of the use of the information provided in this article.