Punjab National Bank (PNB) offers a variety of business loan products to meet the diverse needs of businesses. These loans can be used for a variety of purposes, such as expanding operations, purchasing equipment, or financing working capital.
PNB offers both term loans and working capital loans. Term loans are typically used for larger projects or investments, and they can be repaid over a period of several years. Working capital loans are typically used for short-term needs, such as covering payroll or purchasing inventory, and they are typically repaid within a year.
PNB offers a variety of business loan products that can meet the needs of most businesses. The bank's competitive interest rates and flexible repayment options make it a good choice for businesses looking for a loan. Here are the highlights of PNB Business Loan:
The interest rates on PNB business loans also vary depending on the type of loan and the borrower's credit history. However, in general, the interest rates on PNB business loans are competitive with those offered by other banks. Here are the interest rates and charges for PNB business loans:
|9.40% p.a. to 14.40% p.a.
|Up to 0.50% of the loan amount
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Besides the processing fees, several other fees and charges may apply to your PNB business loan, depending on the specific loan type, your credit rating, and the terms you negotiate. Here's a breakdown of some additional potential charges applicable for term loans and working capital loans of PNB bank:
|Varies depending on loan amount and rating. Typically, it ranges from 1.00% to 1.50% of the loan amount.
|Fixed fee, typically Rs. 5000 to Rs. 10000 depending on the loan amount and rating.
|Applicable for some loan types, typically Rs. 1000 to Rs. 5000.
PNB business loans are designed to support self-employed individuals, proprietors, private limited companies, and partnership firms in the manufacturing, trading, and services sectors. To be eligible, applicants must meet specific criteria.
Here are the eligibility criteria for Punjab National Bank business loans:
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The application process for a Punjab National Bank business loan requires the submission of specific documents. These documents play a crucial role in the loan application process and are necessary to establish the applicant's eligibility and financial standing.
Punjab National Bank offers a range of business loans to meet the diverse needs of entrepreneurs and enterprises. Each type of business loan is designed to address specific financial needs, providing vital support for the growth and development of businesses across different sectors. Here are the top business loans offered by PNB Bank:
|PNB Green Ride
|E-rickshaw purchase and employment creation
|Individuals, transport operators, businesses
|Medical equipment purchase and clinic/hospital renovation
|Doctors, medical practitioners
|Women-owned businesses (manufacturing, trade, service)
|PNB Professional Schemes
|New venture or expansion (excluding medical & traders)
|Professionals, individuals, partnerships, companies
|Stock and book debt financing
|MSME entrepreneurs with trading experience
|MUDRA Loan under PMMY
|Income generation in non-farm businesses
|Individuals, SMEs, MSMEs, professionals, companies
Here are the MSME loan schemes from PNB Bank:
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PNB Bank, one of India's leading public sector banks, offers a wide range of financing options to its customers. These financing options are designed to meet the diverse needs of individuals and businesses and come with a host of features and benefits.
When considering business loans, it's essential to compare the offerings of different lenders to make an informed decision. Here is a comparison of PNB Bank business loan interest rates with those of other major lenders in India:
|Business Loan Interest Rates
|9.40% p.a. to 14.40% p.a.
|10% - 22.50% p.a.
|14.95% - 19.20% p.a.
|9.75% - 30% p.a.
|1% per month onwards
|HDB Financial Services Ltd.
|Up to 36% p.a.
|IDFC First Bank
|14% to 25% p.a.
|1.50% per month onwards
|Kotak Mahindra Bank
|17% p.a. onwards
|12% - 27% p.a.
|2% per month onwards
|19% - 24% p.a.
|12% p.a. onwards
|9% - 36% p.a.
Read LessNote: The interest rates mentioned are subject to change. Do visit the official website for updated rates.
To apply for a PNB Bank business loan online, you can follow these steps:
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PNB Bank offers several customer care numbers for its business loan customers, depending on your specific needs and location. Here are some options:
1800 1800/ 1800 2021/ 1800 180 2222/ 1800 103 2222: General customer care number for all banking services, including business loans.
0120-2490000: General customer care number for all banking services, including business loans.
Missed Call Service: Dial 1800 180 2223 from your registered mobile number for account balance enquiry.
Email: email@example.com for general inquiries.
Yes, PNB offers business loans tailored to meet the diverse needs of entrepreneurs and enterprises.
A term loan in PNB is a type of business loan provided for a specific period at a predetermined interest rate.
Working Capital Financing in PNB provides funds to cover the day-to-day operational expenses of a business.
The minimum and maximum tenure of PNB business loans can vary based on the specific loan product, but typically range from 12 to 84 months.
The loan amount you can avail from Punjab National Bank depends on various factors such as your business's financials, creditworthiness, and the specific loan product you are applying for.
The processing fee for business loans in PNB is up to 0.50% of the loan amount and can vary based on the loan amount and type of business loan.
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