PNB Vehicle Loan

Hi I would like to have the details of the Car loan provided by Punjab National Bank for either purchasing new car or a used car?

[Rajkumar Agarwal]

Punjab National Bank is an Indian budgetary administrations organization situated in New Delhi, India. Established in 1895, the bank has more than 5,800 branches and more than 6,000 ATMs crosswise over 764 urban communities. It serves more than 80 million clients. Accessible for buy of New Car/Van/Jeep/Multi Utility Vehicle (MUV)/Sports Utility Vehicle (SUV) or for old vehicles that are not more seasoned than 3 years. Fund will be given to buy of vehicle of indigenous/remote makes.

Features and Eligibility
PNB New Car Loan Scheme
PNB Used Car Loan Scheme

Interest Rates
9.75% Floating
11.25% Floating

Maximum Loan Amount Eligibility
85.00%
70.00%

Maximum Loan Tenure (years)
7 years
5 years

Lowest EMI per Rs. One Lakh Loan Amount (Rs.)
Rs. 1647
Rs. 2112

Processing Fee
1.00% Min Rs. 0 Max Rs. 6000
1.00% Min Rs. 0 Max Rs. 6000

Prepayment Charges
Nil
Nil

Interest Calculation
Monthly reducing balance
Monthly reducing balance

Age (years)
Between 21 years and 65 years
Between 21 years and 65 years

Minimum Net Annual Income (Rs. lakh)

--Salaried
2.4
2.4

--Self employed professionals
2.4
2.4

--Self employed businessmen
2.4
2.4

Documentation needed to apply for an Punjab National Bank Car Loan

• 1. Signed application form with photograph
• 2. Photo ID and age proof
• 3. Residence proof
• 4. Last 6 months bank statement
• 5. Documentation for salaried applicants:
o Last 3 months salary – slips
o Form 16 or Income Tax Returns
• 6. Documentation for self-employed applicants:
o Last 3 years Income Tax Returns with computation of Income
o Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account