• January 19, 2024
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How to get PNB Instant Loan, eligibility rate of Interest, and Documents 2024

How to get PNB Instant Loan, eligibility rate of Interest, and Documents 2024

Punjab National Bank (PNB) extends the privilege of PNB Instant Loans to a specific segment of its existing clientele, commencing at an interest rate of 11% per annum with a tenure that spans 5 years. This specialized offering, known as PNB Insta Personal Loan, caters to individuals employed within the Central or State Government, PSUs, as well as defense and paramilitary forces, provided they maintain a salary account with PNB for a continuous period of 2 years.

Moreover, retired individuals who receive their pension through PNB can take advantage of pre-approved PNB Insta Pension Loans, streamlining the borrowing process for this demographic. For entrepreneurs seeking financial support, PNB introduces the Insta E-Mudra Loan scheme, available to those with a savings account at PNB, contingent upon maintaining satisfactory account operations.

These tailored loan solutions highlight PNB’s commitment to providing diverse and accessible financial options to meet the unique needs of its varied customer base.

PNB Instant Loan
PNB Instant Loan

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Tyes of PNB Insta Loan

1. PNB Insta Personal Loan

Catering to the needs of individuals employed with the Central or State Government, PSUs, defense, and paramilitary forces, the PNB Insta Personal Loan is a versatile financial solution. With an attractive starting interest rate of 11% per year and a flexible tenure of 5 years, this loan aims to provide quick and accessible funds to eligible borrowers. It is an ideal choice for those maintaining a salary account with PNB for a continuous period of 2 years.

Loan Amount:

  • Minimum Loan Amount: 25,000/-
  • Maximum Loan Amount: Rs 8 Lakh for states where e-documents is currently active and Rs 5 lakh for other states

2. PNB Insta Pension Loans

Retired individuals drawing their pension through PNB can avail themselves of the convenient and pre-approved PNB Insta Pension Loans. This specialized offering is tailored to streamline the loan application process for pensioners, ensuring swift access to funds when needed the most. The terms and conditions are designed to be pensioner-friendly, recognizing the unique financial circumstances of this demographic.

  • Minimum Loan Amount: 25,000/-
  • Maximum Loan Amount: Rs 8 Lakh for states where e-documents is currently active and Rs 5 lakh for other states

3. PNB Insta E-Mudra Loan Scheme

Entrepreneurs with a savings account at PNB and a track record of satisfactory account operations can benefit from the PNB Insta E-Mudra Loan Scheme. This initiative is crafted to support the financial aspirations of business owners, providing them with a quick and hassle-free loan solution. The scheme reflects PNB’s commitment to fostering entrepreneurial growth and contributing to the success of small and medium-sized enterprises.

Loan TypeProcessing Charges
PNB Insta Personal Loan11.00% – 14.50%
PNB Insta Pension Loan11.50%
PNB Insta E-Mudra LoanFor Consumers: Rs 50per CIC
Priority Sector Loan up to Rs 25,000- (NIL)

Interest Rates of PNB Insta Loans

Loan TypeInterest Rate (p.a.)
PNB Insta Personal Loan11.00% – 14.50%
PNB Insta Pension Loan11.50%
Note: – Rates as of 18th january 2024

Eligibility Criteria for Availing PNB Insta Loans

PNB Insta Personal Loan:

To avail of the PNB Insta Personal Loan, applicants must meet the following criteria:

  • Job Profile: Employees of Central Government, State Government, PSUs, Defense, and Paramilitary Forces with a salary account held with PNB for the preceding 2 years.
  • Age Limit: The applicant should be below 60 years old.

PNB Insta Pension Loan:

For those considering the PNB Insta Pension Loan, the eligibility criteria include:

  • Age Limit: Applicants should be below 70 years of age.
  • Pension Type: All categories of pensioners maintaining their pension accounts with Punjab National Bank are eligible for PNB Insta Pension Loans.

PNB Insta E-Mudra Loan:

If you’re eyeing the PNB Insta E-Mudra Loan, ensure you fulfill the following conditions:

  • Age Requirement: The applicant must be a minimum of 18 years old at the time of loan application and not exceed 60 years old at the time of loan maturity.
  • Occupation: Applicants should be businessmen.
  • Bank Relationship: Having an active savings or current account with PNB for the past 12 months with satisfactory account operations is a prerequisite.

Documents Required for PNB Instant Loan

When applying for a PNB Instant Loan, it’s crucial to have all the necessary documents in order to facilitate a smooth and efficient application process. Here’s a comprehensive checklist to guide you:

1. PNB Insta Personal Loan:

  • Proof of Identity: Any government-issued photo ID (Aadhar card, Passport, Driving License, etc.)
  • Proof of Address: Recent utility bills, Aadhar card, or any other document validating your current residence.
  • Income Proof: Salary slips for the last three months, Form 16, or any other document substantiating your income.
  • Employment Proof: A certificate from your employer confirming your current job status and tenure.

2. PNB Insta Pension Loan:

  • Proof of Identity: government-issued photo ID.
  • Proof of Address: Documents validating your current residence.
  • Pension-related documents: pension payment order, pension passbook, or any document confirming your pension details.
  • Bank Statements: Statements from the pension account held with PNB for the last six months.

3. PNB Insta E-Mudra Loan:

  • Proof of Identity: government-issued photo ID.
  • Proof of Address: Documents confirming your current residence.
  • Business Proof: Business registration documents, a GST certificate, or any document validating your business existence.
  • Bank Statements: Active savings and current account statements with PNB for the past 12 months.

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