Punjab National Bank Personal Loan
A personal loan is an unsecured borrowing that an individual can use for a broad range of purposes without pledging an asset such as property or a vehicle. People typically turn to one to cover medical treatment for themselves or a family member, wedding costs, children's education, or domestic and overseas travel, repaying the amount in fixed monthly instalments over an agreed period.
Punjab National Bank, a public-sector lender founded in 1894, offers its personal loan for the public with eligibility built around steady income. The scheme is open to salaried employees of central and state government, public-sector undertakings, and reputed private companies, as well as staff of schools, colleges, universities, hospitals, and nursing homes. It also extends a distinct eligibility track to self-employed professionals such as chartered accountants, company secretaries, architects, engineers, and software developers. A separate variant is available for defence personnel.
The bank positions the product for existing and new customers alike and generally looks for a third-party guarantee as security. Applicants should note that eligibility, the sanctioned amount, and final terms would depend on income, credit history, and the bank's assessment, and approval is not automatic. Prospective borrowers can review the applicable service charges and repayment structure before applying at a branch or through the bank's digital channels.
At 10%, Punjab National Bank has one of the lowest starting rates of the 22 lenders we track for personal loans.
Documents required
- Loan application form duly completed with photograph
- Income proof (salaried): latest salary certificate, ITR / Form 16 for the last 2 years duly authenticated by the employer, and statement of the salary-credit account for at least one year
- Age proof
- Address proof
- Guarantor details with supporting papers and photo, if applicable
- Statement of assets and liabilities with supporting documents
As published by Punjab National Bank. Your branch may ask for more.
Eligibility
Loan terms
- Covers a wide range of personal needs including medical treatment, marriage, education, and travel
- Open to salaried staff of government, PSUs, reputed private firms, and educational and hospital institutions
- Dedicated eligibility track for self-employed professionals such as chartered accountants, architects, and engineers
- Separate loan variant available for defence personnel
- Third-party guarantee accepted as security
Fees & charges
FAQ
Lenders price on your credit score, income, employer category and tenure. A score above 750 typically unlocks the lower end of each range shown. The exact rate is confirmed by the lender at underwriting.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.
Most lenders allow prepayment after a few EMIs. Charges vary by lender and are shown in the fees section; RBI caps foreclosure charges on floating-rate loans to individuals.