The PNB Insta loan is a convenient personal loan solution provided by Punjab National Bank, offering immediate financial support whether you are a salaried employee, pensioner, or entrepreneur. PNB Insta loan offers three types of loans that offer personalized loan amounts, interest rates, and tenures.
PNB Instant Loan offers loan amounts of ₹25,000 to ₹20 lakhs to employees drawing salaries through PNB, existing borrowers, and individuals having bank accounts with PNB. It offers a digital borrowing experience for pensioners to help them get loans at home with minimal documentation. Offering borrowers competitive interest rates and instant disbursement, PNB Insta Loan provides flexible solutions for various financial needs.
Table of Content
- ⇾ PNB Insta Loan
- ⇾ PNB Insta Loan Details
- ⇾ PNB Insta Loan Interest Rates and Charges
- ⇾ PNB Insta Loan Eligibility
- ⇾ Documents Required For PNB Insta Loan
- ⇾ PNB Insta Loan EMI Calculator
- ⇾ PNB Insta Loan Features and Benefits
- ⇾ Types of PNB Insta Loan
- ⇾ Steps to Get A PNB Insta Loan
- ⇾ Steps to Apply For A PNB Insta Loan Through Buddy Loan
- ⇾ Frequently Asked Questions
PNB Insta Loan Details
Here are the details of the PNB Insta loan:
| Features | Pre-approved Personal Loan | Pension Loan |
|---|---|---|
| Loan Amount | ₹25,000 - ₹20 Lakhs | ₹25,000 - ₹8 Lakhs |
| Tenure | 72 months or up to 65 years of age | 72 months or up to 70 years of age |
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PNB Insta Loan Interest Rates & Charges
PNB insta loans offer attractive interest rates and minimal charges helping salaried individuals, pensioners, and MSME entrepreneurs get affordable insta loans. Here are the PNB insta loan interest rates and charges:
| Fees and Charges | Pre-approved Personal Loan | Pension Loan |
|---|---|---|
| Interest Rate | 11.40% - 17.95% p.a | 12.75% p.a |
| Processing Fee | 0.50% Minimum ₹500+GST | 0.50% Minimum ₹500+GST |
- Upfront Fee
- Documentation Charges
- Stamp Duty Charges
- CIC (Credit Information Charges)
- Any other related charges
PNB Insta Loan Eligibility
Punjab National Bank (PNB) offers a variety of instant loan options to help meet your financial needs, such as pre-approved PNB personal loans, eMudra loans, and pensioner loans. These PNB Insta loan products require you to meet specific eligibility criteria. These are:
Pre-approved Personal Loan
- Employees of Central Government, State Government, Defence, Paramilitary Forces, and Public Sector Undertakings (PSUs).
- Individuals with a salary account with PNB receive their salary through the bank.
- Existing borrowers of Home Loans, Car Loans, or Personal Loans with a satisfactory repayment track record for the last 3 years.
- Customers with a substantial Quarter Average Balance (QAB) and a strong Transactional Relationship Value (TRV) with the bank.
- Applicants must be less than 60 years old.
Pension Loan
- All types of Pensioners drawing their pension through PNB are eligible
- Staff are eligible for the scheme
- Borrowers should not be more than 69 years old.
E-Mudra Loan
- Should be a businessman.
- Should have a Udyam Registration Number.
- Should have active Saving/Current account with PNB for the past 12 months with satisfactory operations.
- It should be between 18 to 60 years.
- Aadhaar should be seeded in the bank account and with a mobile number.
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Documents Required For PNB Insta Loan
To avail of a PNB Insta Loan, you must submit essential documentation to complete the loan approval process. The documents vary slightly depending on the type of loan, ensuring quick disbursement for all eligible individuals. The documents required are:
1 .For Personal Loans:
- Identity Proof: Aadhaar Card, PAN Card, Passport, or Voter ID
- Address Proof: Utility Bill, Aadhaar Card, or Passport
- Salary Slips for the last 3 months or bank statement
- Recent passport-sized photographs
- E-Sign & e-Stamping using NeSL
2. For Pensioner Loans:
- Pension Payment Order (PPO)
- Proof of pension received through PNB (Bank Statement)
- Aadhaar Card or PAN Card
- Address proof (Aadhaar, Utility Bills, etc.)
3. For PNB eMudra Loans (Entrepreneurs):
PNB Insta Loan EMI Calculator
The PNB Insta Loan EMI Calculator is a tool that helps you calculate your monthly EMI (Equated Monthly Installments) based on the loan amount, interest rate, and loan tenure. By entering these details, you can instantly determine the amount you need to repay each month.
Using the EMI calculator is essential as it helps you plan your finances by providing a clear view of the repayment schedule. It ensures that the loan is affordable and aligns with your monthly budget, preventing any financial strain. Checking the PNB Insta Loan EMI before applying gives you a realistic expectation of how much you need to pay over time, enabling smarter financial decisions.
PNB Insta Loan Features & Benefits
PNB Insta Loan offers a range of features and benefits that help you meet your financial needs quickly and efficiently:
- Loan Amount: Borrowers can avail of loans up to ₹20 Lakhs based on their eligibility, making it flexible for personal financial needs.
- Tenure: The loan repayment tenure is flexible up to 72 months or till you reach the age of 70 years. Allowing borrowers to choose a suitable repayment period that fits their financial situation.
- Low Interest Rates: PNB Insta Loan comes with competitive interest rates ranging from 11.40% - to 17.95% p.a. Making it an affordable option for borrowers looking to meet immediate financial needs.
- Quick Disbursal: The loan process ensures fast disbursal of funds, allowing borrowers to access the loan amount within minutes after approval.
- Minimum Documentation: With a hassle-free process, PNB Insta Loan requires minimal documentation, simplifying the application process and saving time for borrowers.
- End-to-end Online Process: The loan can be applied for and processed entirely online, providing convenience and ease without the need for a branch visit. This is particularly beneficial for both salaried employees and pensioners.
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Types of PNB Insta Loan
PNB Insta Loan offers various types of loans to cater to different customer needs, including Pre-approved Personal Loans, Pension Loans, and e-Mudra Loans. Each loan type is designed to provide quick and easy access to funds with minimal documentation and attractive terms.
Pre-approved Personal Loan
PNB offers instant personal loans to salaried individuals and existing loan borrowers. Eligible employees from the Central Government, State Government, PSU, and private sectors can avail of loans based on their relationship with the bank, such as Quarterly Average Balance (QAB) and Transactional Relationship Value (TRV). These loans are disbursed quickly through an end-to-end digital process.
Key Features:
- Loan amount from ₹25,000 to ₹20,00,000 (varies by customer type).
- Flexible repayment tenure of up to 72 months.
- Competitive interest rates starting from 11.40% - 17.90% p.a.
- No security or collateral is required.
- Instant disbursal and minimal documentation.
Pension Loan
PNB provides a personal loan for pensioners receiving pensions through the bank. This loan is ideal for pensioners seeking quick access to funds without the hassle of branch visits. The process is entirely online with minimal digital documentation, and the loan amount is credited instantly.
Key Features:
- Loan amount from ₹25,000 to ₹8,00,000.
- Repayment tenure is up to 72 months or until the pensioner turns 70 years old.
- No collateral is required.
- A simple, digital process with flexible repayment options.
- Competitive interest rates starting from 12.75% p.a.
e-Mudra Loan
PNB's e-Mudra loan is designed for small businesses and entrepreneurs. This loan is available for PNB customers with active accounts for at least 12 months. The e-Mudra loan is hassle-free, requires minimal documentation (Udyam registration), and offers attractive interest rates with no processing fees.
Key Features:
- Loan amount up to ₹10,00,000.
- Flexible repayment tenure based on business needs.
- No collateral is required, with CGTMSE coverage.
- Instant loan disbursal and minimal documentation.
- Specially designed for business needs, offering pocket-friendly EMIs.
Steps to Get A PNB Insta Loan
Here is a step-by-step guide to applying for a PNB Insta Loan:
Step 1: Login Options: Choose a method to log in to PNB's Insta Loan portal using:
- Customer ID
- Account Number
- Aadhaar Number
Step 2: Enter Your Details: If using Customer ID, enter the Customer ID. Then provide your registered mobile number.
Step 3: Authorization: By proceeding, you authorize PNB to contact you regarding your pre-approved personal loan application, overriding any DNC/NDNC registrations.
Step 4: Proceed:Click the "PROCEED" button to continue the application process.
Step 5: Enter Loan Details: Specify the loan amount you wish to borrow.
Step 6: Choose the desired repayment tenure: Up to 72 months for pre-approved personal loans. Also, remember to review the interest rate and other applicable charges.
Step 7: Documentation: Upload minimal required digital documentation like Aadhaar, PAN, or other identity and income proofs (for loans above a certain amount). For loans above ₹8 lakhs, complete the e-stamping process.
Step 8: Loan Offer: You will receive a loan offer based on your eligibility and credit profile. Review the loan terms carefully.
Step 9: OTP Verification: Verify your identity via Aadhaar OTP.
Step 10: Approval and Disbursal: Once approved, the loan amount will be disbursed instantly into your PNB account.
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Steps to Apply For A PNB Insta Loan Through Buddy Loan
You can also apply for a PNB insta loan through Buddy Loan, here are the steps you can follow:
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Want to know more? You can check more on different loan types available by various lenders from the table below:
Do you need an Emergency loan?
Frequently Asked Questions
A PNB Insta Loan is a quick personal loan for PNB customers with minimal documentation and online processing for immediate financial needs.
PNB customers, including salaried employees, pensioners, and eMudra loan seekers, with an active account and satisfactory credit history, are eligible.
Apply online via PNB's website by logging in with your Customer ID, Account Number, or Aadhaar Number, and complete the application process digitally.
Interest rates range from 11.40% - 17.95% p.a., depending on loan type and borrower profile.
The maximum loan amount is up to ₹20 lakhs for salaried employees and ₹8 lakhs for pensioners and other eligible borrowers.
Yes, there is a 0.50% processing fee on the loan amount, with a minimum charge of Rs. 500/+GST, covering all documentation charges.
Loan approval is instant for eligible customers, with funds disbursed within minutes upon successful application and verification.
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