Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Personal Loan Reviews

    • Punjab National Bank Personal Loan
      "Personal loan "
      0.5 4.0/5 "Great!"
      Being a loan seeker I had also approached PNB for the same personal loan. The rate of interest offered by them was also very good. They are very much transparent. No hidden cost and service tax. The only downside is they take a lot of time to revert back.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Dec 07, 2016
    • Punjab National Bank Personal Loan
      "PNB is too transparent"
      0.5 5.0/5 "Blown Away!"
      PNB is too transparent with the process, they have mentioned clearly the required set of documents before hand . They promised to deliver the loan within a span of 7 days but to my surprise I got the credit within 5 days. They had given ample of time to arrange for documents. Response time was always good and within 5 days I got the loan amount in my account.
      Was this review helpful? 5
      , jaipur
      Reviewed on Oct 01, 2016
    • Punjab National Bank Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      I have taken the personal loan with the Punjab National Bank and the interest rate was around 14% and the loan amount got disbursed within a week of time. Documentation process was very easy with the Punjab National Bank for the personal loan.
      Was this review helpful? 1
      , bhilwara
      Reviewed on Feb 12, 2016
    • Punjab National Bank Personal Loan
      "No response "
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from PNB and they were sending continuous mail stating the application is in process.They are taking two weeks time to process the loan.They have not come for document collection related to the loan. The interest rate applied was good .They have applied interest rate around 11.2% for the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2016
    • Punjab National Bank Personal Loan
      "Can be better"
      0.5 3.0/5 "Satisfactory"
      PNB Bank being a nationalized bank it provides loans only for Government employee. As I am employed in a private school they are not providing loans to the private employees. This loan was taken during hte year 2006 now the personal loan norms has got changed. Moreover the staff approach is not good.
      Was this review helpful? 7
      , dehradun
      Reviewed on Nov 11, 2015
    • Punjab National Bank Personal Loan
      "One should go for it"
      0.5 4.0/5 "Great!"
      PNB Personal loan process is fine. The interest rate offered by them is the least in the market. My salary account is with PNB so I had taken a loan from them. Interest rate offered by them was 13% . Processing fee is very much higher than what I expected. I am very much comfortable with the standing order instruction.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 12, 2015
    • Punjab National Bank Personal Loan
      "Fast processing!"
      0.5 5.0/5 "Blown Away!"
      Within 2 days I got my personal loan amount disbursed with Punjab National Bank, which is really short time. They collected only required documents for the loan application and 10.25% is the interest rate quoted by them. The best thing is foreclosure can be done at any time without any charges.
      Was this review helpful? 2
      , tirunelveli
      Reviewed on Oct 06, 2015
    • Punjab National Bank Personal Loan
      "Special service"
      0.5 5.0/5 "Blown Away!"
      Punjab National Bank has special services from defense employees. I took personal loan from Punjab National Bank 1 year back, my loan was processed in just 2 days tim ewith minum documentation. EMI gets auto debited from my pension account on or before the payment due date. I happy with the services offered.
      Was this review helpful? 2
      , bangalore
      Reviewed on Aug 17, 2015
    • Punjab National Bank Personal Loan
      "Wright choice "
      0.5 5.0/5 "Blown Away!"
      I got personal loan from PUNJAB NATIONAL bank with 10% for the loan amount of 3 lakhs and for the tenure of 5 years. There is no processing fees also when compared with other banks which is really appreciable. Overall I am very happy with their service rendered to me.
      Was this review helpful? 2
      , guwahati
      Reviewed on Aug 08, 2015
    • Punjab National Bank Personal Loan
      "A Good PSU"
      0.5 4.5/5 "Excellent!"
      I had a very good experience with Pujnab National Bank. I got the personal loan ans the service provided was really good.The verification process was done very fast within a day and I am happy about the same. I found that the interest rate is very low and only minimum processing fee were collected. Bank Staff is good and helpful so it became easy to take a lone. its great to deal with the bank.
      Was this review helpful? 2
      , indore
      Reviewed on Jul 11, 2015
    • Punjab National Bank Personal Loan
      "Awesome bank to deal with is Punjan national. .......... !!"
      0.5 4.0/5 "Great!"
      I found that the interest rate is very low and only minimum processing fee were collected. The documents everything was submitted in the nearest branch. Your staff is great. Kind and helpful!They have helped me out of a bind and provided a loan when no one else would. So much better facilities than ever get it from this bank.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jun 30, 2015
    • Punjab National Bank Personal Loan
      "Below Average!!"
      0.5 3.0/5 "Satisfactory"
      I availed personal loan long bank from PNB. Initially we have to submitted many documents and it was lengthy paper . The processing time took around 25 days and the interest rate was high. I feel that they have to improved alot since the technology has also improved. Initially it was an average experience.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jun 20, 2015
    • Punjab National Bank Personal Loan
      "lazy"
      0.5 3.0/5 "Satisfactory"
      I got the personal loan with Punjab national bank for the rate of interest as 10.15%.The follow up was good.They are not adhere towards the customers.It is the prompt rate of interest and there is no hidden charges.They need to improve the responsiveness and the customer service also.
      Was this review helpful? 3
      , pune
      Reviewed on May 29, 2015
    • Punjab National Bank Personal Loan
      "lazy"
      0.5 3.0/5 "Satisfactory"
      I got the personal loan with Punjab national bank for the rate of interest as 10.15%.The follow up was good.They are not adhere towards the customers.It is the prompt rate of interest and there is no hidden charges.They need to improve the responsiveness and the customer service also.
      Was this review helpful? 3
      , chennai
      Reviewed on May 29, 2015
    • Punjab National Bank Personal Loan
      "Expected options was there"
      0.5 4.0/5 "Great!"
      I chose Punjab national bank for their part payment and pre closure options where there is no penalty. I have gone through this company head office and all other conditions is OK and its based on customized scheme. Executive was helpful and cooperative throughout the loan processing. It was a very good services.
      Was this review helpful? 9
      , mangalore
      Reviewed on Jul 21, 2014
    • Punjab National Bank Personal Loan
      "Needs to improve a lot in customer service"
      0.5 3.0/5 "Satisfactory"
      I am holding salary account with Punjab national bank whereas their customer service was quite good. Their on-line banking was not active it seems, dont know. I have just applied for salary transfer . I think they might have some problem. No suggestions from them to improve their service.
      Was this review helpful? 12
      , aurangabad
      Reviewed on Jul 14, 2014
    • Punjab National Bank Personal Loan
      "Fully Satisfied with Service"
      0.5 4.5/5 "Excellent!"
      PNB personal Loan i am fully satisfied, i got loan approval in 3 days, interest rate was very less when compare to other banks, bank manager was very helpful to me, documentation was good they informed me clearly, their was no hidden charges.
      Was this review helpful? 15
      , solan
      Reviewed on Jul 12, 2014
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    Punjab National Bank (PNB) Personal Loan Eligibility Calculator is Rated as "Great!" by 17 Users

    Personal Loan BYTES FROM OUR KITCHEN

    About Punjab National Bank Personal Loan

    Punjab National Bank is one of the earliest nationalised banks of India, today an Indian household name due to its efficiency and its wide range of personal finance products and schemes. One such product is the Punjab National Bank personal loan. this flexible personal loan is one of the few loans that can be taken by both self-employed and salaried applicants under fair eligibility criteria. It has a flexible tenure of up to 60 years and has comfortable interest rates. But in order to get this personal loan sanctioned you need to be eligible. Punjab National Bank has certain definite criterias for the same.

    Perfect Personal Loan Deals for you

    Punjab National Bank Loan Eligibility

    Punjab National Bank has certain definitive eligibility criteria that an individual must have, to ensure that the bank sanctions the personal loan:

    For Salaried Applicants

    Minimum age: The applicant should be at least 21 years of age.

    Maximum age: The applicant has to 58 years or less.

    Job Specifications (prescribed by PNB): All permanent Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Border Police, etc. However, loan request of Defence Personnel, who are due for retirement within next 24 months, may not be entertained. Confirmed/permanent employees of Central/State Govt./PSUs and all reputed companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/Nursing Homes, who are either drawing their salary through accounts maintained with our branches or these employers agree for check off facility.

    Minimum income: Salaried individuals must have a minimum monthly income of Rs. 15,000 . Note that the minimum salary expectations vary from location to location.

    Total Years in Profession/Company: 2 years or more

    Years At Current Residence: 1 year or more

    CIBIL Score: Punjab National Bank would check your CIBIL score and credit history when considering your application A minimum of 700 CIBIL score is required to be considered for a Punjab National Bank personal loan.

    For Self-employed Applicants

    Minimum age:The applicant should be at least 21 years of age as a self-employed individual.

    Maximum age: The applicant has to be 65 years or less for self-employed people.

    Minimum income:Self-Employed individuals or working professionals earning a minimum of Rs. 20,000 per month.

    Total Years in Profession: 2 years or more

    CIBIL Score: Barclays would check your CIBIL score and credit history when considering your application A minimum of 700 CIBIL score is required to be considered for a Barclays personal loan.

    For Doctors: Professionally qualified practicing Doctors viz., MBBS, BDS & above having annual income of Rs. 4 lakhs and above. Doctors should be taxpayers for the last three years.

    For Pensioned Applicants

    Age Limit: Not Applicable, as long as individual is drawing pension through PNB branches.

    Minimum Income: Not applicable.

    Factors Affecting Eligibility of Punjab National Bank Personal Loans

    Punjab National Bank’s eligibility criteria is based on certain factors which ensure that the individual can actually afford in the first place. Let’s take a look at these factors:

    • Employment Status: The individual can be salaried, self employed or even a pensioner when it comes to Punjab national Bank. However, they have to have a source of income. Also, the loan amount is dictated by their employment status.
    • Age of Applicant: If the individual is too young, he or she has high chances of instability in terms of having a source of income whereas in the case of an older gentleman or lady over 60 years, the chances are he or she is retired, being unable to pay the amount regularly. But PNB offers a special personal loan for pensioners as long as they afford the EMIs through their pension amount.
    • Incomes: Although Punjab National Bank has low and very flexible income brackets, it should not be mistaken that they do not consider income as a factor for eligibility. It depends on the individual’s capacity and their profession too.
    • Location: PNB offers loans to anyone who has an account or is a customer of PNB, in terms of location. Personal loans from Punjab National banks are available to person belonging to any place as long they have a personal residence of minimum 1 year.
    • Employment Time: If an individual is applying for a personal loan from PNB, he or she must be with the same employer or company for at least 2 years if salaried. This helps to confirm stability in terms of jobs in the individual. For self-employed applicants too, they must be show stability in their profession or business for at least 2 years.

    How CIBIL score affects your Punjab National Bank Personal Loan Eligibility?

    The CIBIL score or credit report basically determines your credit lifestyle. This means it figures out not only your monthly expenditure pattern but how and on what you spend it on, especially in the case of credit-card and loan repayments. It also checks your savings and personal investments such as insurance to see how well you manage your finances.

    Generally a CIBIL score of 700 is adequate to get a personal loan from PNB. However, it is always safe to get a credit score that is well above 800 and preferably around 900 to enhance your chances of getting your PNB personal loan sanctioned. As PNB is a nationalised bank, and has built a reputation, it would expect its applicant’s to be able to afford their services without being unreasonable or not flexible.

    How To Increase Punjab National Bank Personal Loan Eligibility?

    There are ways you can ensure that you have high credit score to be able to ensure loan sanction. The following measures also can be taken, before application to help meet the eligibility criterias for the loan from Punjab National Bank:

    • Maintain your credit payments: Always ensure that you have paid your credit card and loan EMIs in time. If you are paying insurance premiums, make sure they are paid in due time as well. Also, make sure that you also do not have any personal debts because that will reduce your chance for savings.
    • Do not pay 2-3 loans at a time: Do not burden yourself with more than 3 loan repayments in a month. If there is a loan that is closing tenure and you can prepay it, including the prepayment charges, go ahead and reduce the burden for your future.
    • Take a longer loan tenure for your existing loans: this will inevitably reduce your finances spent of loans. It also helps to enhance the CIBIL score increasing the margin of income and expenditure.
    • Have more secured loans over unsecured loans: This is a long-term trick but it always helps to keep both the CIBIL score in check and ensure a personal loan sanction easily.

    FAQs on Punjab National Bank Personal Loan Eligibility

    1. What is the minimum income that an applicant should have on a monthly basis to apply for Punjab National Bank personal loan?

    2. Applicants must have a minimum income of Rs. 15,000 if salaried and Rs. 20,000 if self-employed. This bracket may vary on the applicant’s resident as well. Pensioners do not have any income bracket.

    3. What are the age limits for individuals who wish to get a personal loan from Punjab National Bank in India?

    4. For salaried individuals: Applicants must be between 21 and 58 years of age to apply for a punjab and national bank personal loan. For self-employed: Applicants must be between 21 and 65 years of age.

    5. What is the minimum CIBIL score that an individual should have to be eligible for Punjab National Bank personal loan?

    6. It is ideal to have a score over 800, to ensure loan sanctions from large financial companies. But the minimum requirement is 700 CIBIL points

    7. Am I eligible for a loan if I already have an existing loan?
    8. Yes, he or she can have multiple loans at a time, and repay them as long as they are enough funds to apply for a new one.

    9. Do I need to be an existing customer of Punjab National Bank, to apply for this loan?

    10. Yes, you must be an existing customer of the bank to apply for this loan.

    11. Can I apply, for this loan if I am a pensioner?

    12. Yes. PNB offers personal loans to pensioners, without age limit or income brackets.

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