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Nowadays personal loans are among the best way to afford a good and decent lifestyle. As personal loans can be used to meet almost all the current and emergent financial requirements. It is an unsecured loan that means a borrower is don’t need to provide any security to avail of this loan.

While personal loans are popular due to which the financial market is full of personal loan lenders. And to sustain in the competition each personal loan lender is trying to prove them the best. This has increased the stress of the loan seekers to choose the right one for them. So, if you are also going with this hassle of making the right pick for you. Then here is one name which you should consider before taking any decision and i.e. PNB personal loan.

Key Features of PNB Personal Loan 

PNB does not require any introduction as it a well-known and prominent name in the financial industry. But there are few things which need to be known about and that’s PNB Personal Loan. So, let’s have a quick look upon the features of PNB personal loan to have a better understanding of this product:

  • Unsecured Loan: Personal loan from PNB is collateral-free as there is no need to put any security against the loan amount.

  • High Loan Amount: A borrower can avail a minimum loan amount of Rs. 50,000 and the maximum of Rs. 15 Lakhs. However, the accessible loan amount varies based on the type of personal loan scheme is availed.

  • Competitive Interest Rates: Pocket-friendly interest rate is offered on a personal loan from PNB. The rate of interest varies based on the personal loan scheme is availed.

  • Various Schemes: PNB offered many personal loan schemes to reach out and fit into the borrower’s needs. There are majorly three types of loan schemes, namely, Personal loan for Public, Personal Loan for Doctors and sbi Personal Loan for Pensioners. Although there are other customized schemes as well which can be acquired by one who fits in the respective eligibility criteria.

  • Flexible Repayment Tenure: A borrower can choose a loan repayment term as per his/her convenience. The offered repayment tenure ranges from 1 year to 5 years.

Why avail a Personal Loan from PNB?

This is a question that may revolve in every loan seeker’s mind. So, here are the reasons why one should consider PNB as their loan lender:

  • An array of personal loan schemes is offered as a personal loan for the public, doctors, and pensioners.
  • PNB offers special schemes and discounts for the borrowers.
  • Minimal and easy documentation process which speeds up the loan processing.
  • Low processing fees are charged on PNB personal loans.
  • A wide presence of PNB in India has made its loan processing even easier.
  • The quick disbursement of the loan amount is also provided by PNB.

Eligibility Criteria of PNB Personal Loan

As mentioned before, the eligibility criteria for availing a personal loan from PNB varies based on the many factors. Here are the generic criteria provided based on the schemes:


  • PNB Personal Loan Scheme for Public:


  • A permanent or confirmed defence personnel, such as officials of Central Reserve Police Force, Indo Tibetan Border Police, Military Station Headquarters, Central Industrial Security Force, Border Security Force, etc. can acquire PNB personal loan.


  • A borrower should be a confirmed employee of the State or Central Government, Public Sector Units, or reputed institutions or colleges including schools, autonomous bodies, universities, nursing homes, hospitals, etc.

  • Should draw their salary via Punjab National Bank accounts.

  • Must be professionally qualified doctors with the annual income is Rs.4,00,000 or above. He/she should be a taxpayer for the last 3 years.

  • Personal Loan Scheme for Doctors:

  • A borrower should have a minimum of 2 years of continued occupancy at the present residence.

  • Must be a professionally qualified doctor with the net annual income is Rs.5, 00,000 or above. He/she should be a taxpayer for the last 2 years.

  • Personal Loan Scheme for Pensioners:

  • A borrower must be a pensioner drawing pension through a Punjab National Bank branch.

Factors that Influence the approval of PNB Personal Loan

Although various factors and parameters may affect the loan approval from PNB. But here are the few basic and important keys which everyone should think about and check before applying for the PNB personal Loan:

  • Credit Score: Credit score is a factor that almost every lender looks before the loan approval. It is always better to have a good credit score when you apply for a personal loan. You can check your credit score for free from the official websites of the financial service provider like Afinoz. You can check the credit score number of times and it does not affect the score in any way. An ideal credit score to get a better loan offer is 750 and above.

  • Repayment Capacity: It is a major parameter that hugely influences the approval of a personal loan. As the lenders want to be assured that the borrower can repay the loan without difficulty. If you have a stable income source, it will be easy for you to get personal loan approval. Salaried employees may have a better opportunity over here as they have a steady source of income.

  • Debt-to-Income Ratio: If a borrower has an existing loan, the lenders might calculate the debt to income ratio. Generally, if the debt is above 50% of income, then a borrower might get a lesser loan amount. Try to have a balanced debt to income ratio before applying for a loan.

Documents Required

The required documents for acquiring PNB personal loan varies based on various parameters like availed loan scheme, availed loan amount, source of income, etc. Here is the generic list of documents for the PNB personal loan:

  • Duly filled the application form.
  • Passport size photographs.
  • Identity proof.
  • Proof of residence.
  • Form 16 or the latest salary slip if the borrower is a salaried individual.
  • Age-proof in case of self-employed individuals.
  • Income Tax Returns of the last 3 financial years.