Punjab National Bank Personal Loan Interest Rates

Punjab National Bank to reduce the worries of every average Indian has come up with a personal loan scheme that provides competitive rates. However, the interest rates may vary tenure to tenure and based on your credit score, loan repayment capacity and monthly income, the interest rates are charged on personal loans. Currently, 13-16% is the interest rate charged by PNB on personal loans.

Personal loan interest rates by PNB as per 2017:

Particulars	Salaried
Rate of Interest	Those whose salary is distributed via PNB can avail the loans up to Rs.10 lakhs where the rate of interest is calculated as MCLR + 3.10%. Those who are not the existing customers of PNB can avail the loans above Rs.5 lakhs and up to Rs.10 lakhs where the rate of interest is calculated as MCLR + 4.10%. Those using the check off facility can avail loans up to Rs.5 lakhs where the rate of interest is calculated as MCLR + 5.10%. For the with loan amount of Rs.5 lakhs, the rate on interest is calculated as MCLR + 6.10%.
Loan Amount	Minimum: Rs.50000/- Maximum: 20 times gross monthly income or Rs.4 lakhs, whichever is lower. (all borrowers) The salaried individuals- those who are working for the same company for the past three years with a gross monthly salary of Rs.30000/-, 20 times gross monthly income or Rs.5 lakhs, whichever is lower is the maximum loan amount. Those who are working for the same company for the past three years and are drawing their monthly salary from PNB, 20 times gross monthly income or Rs.10 lakhs, whichever is lower is the maximum loan amount.
Loan term	It must be paid within 60 EMIs or before the end of the loan term
EMI (Lowest)	None
Processing charges	1.8% of loan amount
Age	None
Prepayment fees	none