PNB Loan

Punjab National Bank, popularly known as PNB, was opened in the April of 1895 in Lahore, capital of the erstwhile Panjab province in British India by several eminent Indians with an empowered capital of Rs.2 lakhs. Circa 2011, the total capital of the bank amounted to more than Rs.5,00,000 crores by the end of the first quarter. PNB is the 2nd largest bank in the nation by means of network of sub-divisions, business and several other yardsticks. The bank renders different types of loans for different requirements. The customer also has the option of applying online for all the following loans offered by the bank:

PNB Housing Loan

The bank gives rapid processing of housing loans to clientele free from concealed billings. Disbursement is done to help the borrower buy a plot or house or get a house constructed from the lent money. The customer can decide on the fluidity of interest rates and flexibility in choices of repayment which stretch to more than two decades.

PNB Personal Loan

This loan is given to those people having a stable and regular income either from a job or self-employment. There is no rendering of margins and the EMI never takes the better part of the salary. There are special discounts given to LIC agents and regular customers of the bank. At present, BPLR is 14.25% at the base rate 10.75%. Payment of EMI’s begins from the next month of loan approval month.

PNB Education Loan

This scheme is rightly named VIDYALAKSHYAPURTI, which in Sanskrit means fulfillment of educational goals, as it renders financial aid to Indian students seeking higher or professional education either in India or abroad through merit oriented procedures. Loans are offered to the maximum of Rs.10 lakhs for Indian and Rs.20 lakhs for foreign education. The interest rates vary based on the course, quantum of loan and place of study of student.

Loan against Mortgage of Immovable Property by PNB

This scheme provides loan against owing of security interest in the property by the customer to secure a debt so as to pay an EMI of which the net income is 150%. The upfront fee is less than 1% of the loan amount while the corroboration fee is less than a thousand rupees. Motley of interest rates prop up from myriad sub-schemes customized to suit the needs and aspirations of the clientele.

PNB Car Finance

This scheme works well for the buying a new four-wheeler or the one not more than three years old, and that too post calculation of depreciation at the rate of 15% per annum. Loans are given to individuals having a monthly income above Rs.20,000 with the vehicle being used as the security while exacting the loan. Service tax and education cess are levied over and above the documentation charges and upfront fees.

PNB Two Wheelers Finance

This loan is given to people earning more than Rs.10,000 to enable them to buy mopeds, scooters and motorcycles. The vehicle is hypothecated to the bank as a measure of security to be kept when the loan amount is in excess of Rs.25,000. The rates of interest charged depend upon the income of the debtor, the conditions of repayment and value of the vehicle.

PNB Professional Loan Schemes

These loan schemes are rendered for independently practicing professionals and freelancers like lawyers, doctors, architects, etc. subject to adequate licensing by statutory bodies and governmental organizations in that regard. Collateral security and third party guarantee is mandated in instance of cash advances above Rs.25,000. Payments are channelized straight to the suppliers/dealers.

Reverse Mortgage Loan - "PNB Baghban" for Senior Citizens

This scheme aims at giving a pre-determined amount of money to senior citizens owning a house availing this scheme and assuming the ownership of the house on the death of the person. The monthly defrayals or installments are computed on the basis of reverse annuity granted on the grounds of the value of the house mortgaged in the reverse by the senior citizen. The interest rate is fixed at 10.5 % p.a. and is revised every half a decade.

PNB’s Scheme for Advance against Gold/ Silver Jewellery/ Ornaments

This advance can be taken to be used for either personal or commercial purposes by individuals or firms as borrowers. There are no bounds for amount of loan availed for business purposes. The margin offered on Gold is 5% while on Silver is 15%. The repayment structure of an overdraft is reviewed every year.

PNB Customer Service

Chief
Retail Banking Division / Financial Products Marketing Division
5,Sansad Marg
New Delhi 110001
Tel # 23311164 (AGM-RBD)
23753373 (Chief- FPMD)

For any queries and complaints, consumers can contact the following phone numbers: (011)23765326 and 23710021 Ext. 224

Last Updated On: 2011/09/11