Punjab National Bank customers can avail a car loans at affordable interest rates starting from 7.55%. The repayment tenure for a car loan can from 1 year and 7 years. The interest rate charged takes into account various factors such as the loan amount, repayment tenure, whether the customer is purchasing a new car or a pre-owned car, and their credit score. Punjab National Bank used car loan can also be availed.
Some of the key features of PNB Car Loan are given below:
|Charges||New Car Loan||used Car Loan|
Some of the eligibility criteria you will have to fulfil to be eligible for a car loan from Punjab National Bank are given below:
1. Signed application form with photograph
2. Photo ID and age proof
3. Residence proof
4. Bank statements of last 6 months
5. Documentation for salaried applicants:
6. Documentation for self-employed applicants:
PNB offers car loans for various types of cars such as sedans, hatchbacks, jeeps, vans, Sports Utility Vehicles (SUVs), and Multi Utility Vehicles (MUVs).
The vehicle that is being purchased must be hypothecated to PNB.
0.25% of the amount that is being provided as a loan will be the processing fee. However, the minimum and maximum processing fee that can be levied are Rs.1,000 and Rs.1,500, respectively.
No, PNB does not levy any documentation charges on a car loan.
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