Punjab Gramin Bank Eligibility

Hii sir, I Wants to Apply for the Personal Loan in the Punjab Gramin Bank will you Please provide me the Eligibility Criteria for the Personal Loan in the Punjab Gramin Bank ?

[pawan]

Punjab Gramin Bank (PGB) which is a business arm of the Punjab National Bank is an amalgamation of three RRBs The bank offers various types of deposits and loan schemes.

Personal Loan

The Punjab Gramin Bank takes care of the financial requirements of people in the rural areas. The purpose of this personal loan is to help the borrower meet all types of personal needs. Money may be required for childrens education expenses, medical expenses, wedding expenses, or even travel (domestic and foreign) expense

Feature
Minimum amount of loan - Rs. 50000/-

Maximum amount of loan - Rs. 4,00,000 or 20 times monthly net salary whichever is lower depending upon the repaying capacity

Rs. 5,00,000 loan amount for salaried persons who have completed 3 years’ service in the present organization & drawing net monthly salary of not less than Rs.30,000/-

The loan amount (principal and interest) can be repaid in maximum 60 equated monthly instalments (EMIs).

Loan repayments commence one month after loan disbursement

Overdraft limit is adjusted within a maximum period of 60 months by reducing Drawing Power (DP) equivalent to EMI amount at the beginning of every month.


Eligibility

Only PGB account holders with a 6-month old account are eligible for Personal Loan.
Minimum net monthly income should be Rs. 12500 per month for availing loan/OD at Urban centers

In case of semi-urban and rural centers, around Rs. 10000 should be the net monthly income for availing Loan/OD.

Defense personnel from Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Boarder Police, etc.

In case the borrower belongs to any of the mentioned services, he must have been retired for more than 24 months.

Confirmed or permanent employees of Central/State Government/ PSUs and all reputed companies/ Institutions

Individuals working with schools, colleges, Universities, autonomous bodies, Hospitals/Nursing Homes, who are drawing salary through accounts maintained with PGB branches

People working with employers having check off facility with Punjab Gramin Bank are also eligible.

Professionally qualified practicing Doctors with an annual income for Rs 3 lac, and having an account with GB at least for the last six months or above.

Doctors should be have paid taxes for the last three years and the Income Tax Returns, duly receipted by Income Tax Office should be available for the Bank

For more information you may Visit the Nearest branch of the Punjab Gramin Bank