What Is the Personal Loan Interest Rate in Pnb

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What Is the Personal Loan Interest Rate in PNB?

A personal loan is a common financial tool that allows individuals to borrow funds for various purposes, such as paying off debts, financing a vacation, or covering unexpected expenses. When considering a personal loan, one crucial aspect to consider is the interest rate. It determines the cost of borrowing and has a significant impact on the overall affordability of the loan. In this article, we will focus on the personal loan interest rates offered by Punjab National Bank (PNB), one of India’s leading public sector banks.

PNB Personal Loan Interest Rates:

PNB offers personal loans to salaried employees, self-employed individuals, and pensioners. The personal loan interest rates offered by PNB are competitive and vary depending on the borrower’s profile, loan amount, and repayment tenure. As of September 2021, the interest rates for PNB personal loans range between 8.95% and 11.20% per annum. These rates are based on the bank’s MCLR (Marginal Cost of Funds based Lending Rate) and may be subject to change.

Factors Affecting Personal Loan Interest Rates:

Several factors influence the personal loan interest rates offered by PNB. These factors include:

1. Credit Score: A higher credit score indicates a borrower’s creditworthiness, reducing the risk for the lender. As a result, individuals with excellent credit scores are more likely to secure personal loans with lower interest rates.

2. Income: PNB considers the borrower’s income to determine their repayment capacity. Higher income levels may result in a lower interest rate.

3. Loan Amount: The loan amount requested by the borrower can also impact the interest rate. Generally, higher loan amounts may attract higher interest rates.

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4. Loan Tenure: The repayment tenure chosen by the borrower affects the interest rate. Longer tenures may result in higher interest rates compared to shorter tenures.

Frequently Asked Questions (FAQs):

1. What is the maximum loan amount offered by PNB?

PNB offers personal loans ranging from a minimum of Rs. 50,000 up to a maximum of Rs. 10,00,000, depending on the borrower’s eligibility.

2. Can I prepay my PNB personal loan?

Yes, PNB allows borrowers to make prepayments towards their personal loans. However, it is advisable to check the terms and conditions regarding prepayment charges to avoid any unexpected fees.

3. What is the maximum repayment tenure for PNB personal loans?

PNB offers flexible repayment tenures for personal loans, with a maximum tenure of up to 60 months. Borrowers can choose a tenure that suits their financial capabilities.

4. Do I need collateral to avail of a personal loan from PNB?

No, PNB personal loans are unsecured, meaning they do not require collateral. However, the bank may require additional documentation and proof of income to assess the borrower’s repayment capacity.

5. Can I check my eligibility for a PNB personal loan online?

Yes, PNB provides an online eligibility calculator on its official website. By entering basic details such as income, age, and loan amount required, borrowers can quickly determine their eligibility for a personal loan.


When considering a personal loan, it is essential to compare interest rates offered by different lenders to ensure you secure the best deal. Punjab National Bank (PNB) offers competitive interest rates on personal loans, starting from 8.95% and going up to 11.20% per annum. However, it is crucial to note that these rates are subject to change and depend on various factors such as credit score, income, loan amount, and repayment tenure. Before applying for a personal loan from PNB, it is advisable to thoroughly research and understand the terms and conditions, including any associated fees or charges, to make an informed decision.

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