Punjab and Sind Bank’s personal loan is a convenient financial solution that covers essential expenses like medical treatment, educational expenses, and debt consolidation. The personal loan also covers travelling expenses, home renovations, and more. PnB Bank personal loans offer diverse and personalized loan amounts up to ₹20 lakhs at low interest rates. The bank also offers flexible loan repayment options of up to 72 months subject to the maximum age criterion, whichever is earlier.
Punjab and Sind Bank Personal Loan Details
Punjab and Sind Bank offers convenient loan options for all your diverse personal needs. The table below provides an overview of what the PnB bank personal loan offers:
| Loan amount | ₹1 lakh – ₹10 lakhs |
| Rate of Interest | Starting from 9.75% onwards |
| Tenure | Up to 72 months or subject to the maximum age criterion (whichever is earlier). |
| Eligible Borrowers | Salaried individuals and pensioners |
| Purpose | For any genuine personal credit requirement. |
Note: The above-mentioned rates are subject to change with the finance market and differ marginally with respect to the individual banks.
Punjab and Sind Bank Personal Loan Interest Rates
Punjab and Sind bank personal loan interest rates start from 9.75% p.a. The interest rate will depend on your creditworthiness, loan amount, tenure, financial stability, and income.
| Interest rate | 9.75% onwards |
| Loan amount | ₹1 lakh – ₹10 lakhs |
Note: The above-mentioned rates are subject to change with the finance market and differ marginally with respect to the individual banks.
Punjab and Sind Bank Personal Loan Fees & Charges
Punjab and Sind banks levy specific fees and charges for the services they provide. Knowing the fees and charges will help you understand the cost associated with the loan. The table below provides an overview:
| Processing fee | Up to 1.00% + GST |
| Prepayment charge | Nil |
| Documentation charges | Stamp/revenue expenses. |
Punjab and Sind Bank Personal Loan Eligibility Criteria
Securing a personal loan from Punjab and Sind necessitates a thorough understanding of their eligibility requirements. These are essential requirements that help the bank evaluate your qualification for a loan.
| Age | 21 – 70 years or till the date of retirement for the salaried class. |
| Bank Account | Should have a salaried or pensioner’s account at the bank. |
| Employment type | Permanent Govt., MNC, PSU, and education institute employees. Permanent employees of private institutions and pensioners. |
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Punjab and Sind Bank Personal Loan Documents
The documentation process plays an important role in ensuring a smooth and successful application. These documents serve as proof for your credibility and financial standing. Here are the documents required by Punjab and Sind Bank:
- Identification proof: Aadhaar card, PAN card, driving license, etc.
- Address proof
- Bank account statements
- Salary slip
- Proof of income
- Application form.
Calculate Punjab and Sind Bank Loan EMI.
Understanding your Equated Monthly Instalment (EMI) is crucial for efficient and convenient loan repayment. Knowing your EMI before applying for a loan is essential for better financial management.
You can use two methods to calculate your EMI; you can use the EMI formula or use the online EMI calculator below:
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Comparison of Punjab & Sind Bank Personal Loans vs. Other Lenders
Making a comparison between banks and the rates they offer will help you get good loan terms. Here is a table of different lenders offering personal loans along with their interest rates:
| Banks/NBFCs | Interest Rates (p.a.) |
| Axis Bank | 9.99% onwards |
| State Bank of India | 10% onwards |
| ICICI Bank | 9.99% onwards |
| Union Bank of India Personal Loan | 8.75% onwards |
| Bank of India | 11.85% onwards |
| HDFC Bank | 9.99% onwards |
| Induslnd Bank | 10.49% onwards |
| Muthoot Finance | 13% onwards |
| RBL Bank Personal Loan | 18% onwards |
| L&T Finance | 10.5% onwards |
| Punjab National Bank | 10.25% onwards |
| Bajaj Finserv | 10% onwards |
Note: The above-mentioned rates are subject to change with the finance market and differ marginally with respect to the individual banks.
Features & Benefits of Punjab and Sind Bank Loan
Punjab and Sind Bank offers personal loans with flexible repayment options, affordable processing charges, and loan facilities for eligible salaried individuals and pensioners. Some of the key features and benefits include:
- Loan Amount Up to ₹20 Lakh: Eligible borrowers can apply for personal loans ranging from ₹5 lakh to ₹20 lakh, depending on their income, repayment capacity, and eligibility.
- Competitive Interest Rates: The bank offers personal loans with interest rates starting at 9.75% p.a., depending on the applicant’s credit profile and applicable loan scheme.
- Flexible Repayment Tenure: Borrowers can repay their personal loans over a period of up to 84 months, subject to the maximum age eligibility criteria.
- Loans for Salaried Individuals and Pensioners: The bank provides personal loans to eligible government employees, PSU employees, MNC employees, approved institutional employees, and pensioners.
- Affordable Processing Charges: The bank charges a processing fee of 0.50% for eligible government employees, PSU employees, and pensioners, while eligible private institution and MNC employees may pay up to 1%, plus GST.
- No Prepayment Charges: Borrowers can repay their personal loans before the scheduled tenure without paying prepayment penalties.
- Minimal Additional Charges: The bank does not charge inspection fees and collects only applicable stamp duty or revenue expenses for documentation.
Steps to Apply for a Personal Loan
Follow these simple steps to get a personal loan through Buddy Loan:
- 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. Next, choose the Personal Loan option
- Step 4: Choose the employment type (salaried or self-employed) 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.
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