pnbindia.in Check Your Loan Eligibility Home/Car PNB : Punjab National Bank

Organisation : Punjab National Bank PNB
Facility : Check Your Loan Eligibility Home/Car

Online Loan Eligibility Assessment : https://netpnb.com/
Website : https://www.pnbindia.in/En/ui/Home.aspx

Check Loan Eligibility Home/Car :

i) Select Loan Type (Housing / Car)
ii) Enter Name of Borrower
iii) Enter Mobile No.

Related : PNB Online Opening of Saving Account : www.statusin.in/20973.html

iv) Enter Date of Birth
v) Enter Email-ID
vi) Select Preferred State
vii) Enter Net Monthly Salary/Income (in Rs)
viii) Enter Existing deductions of loans being paid (in Rs)
ix) Do you want to add co-applicant to increase your loan eligibility
x) Enter Security Key
xi) Click on “Check Eligibility” Button

I declare that the information is accurate and complete to the best of my knowledge. I authorize PNB & its representatives to call me or SMS me with reference to my application. This consent will override any registration for DNC/NDNC. I also understand that the credit is at the sole discretion of PUNJAB National Bank.

FAQs Car Loan :
Q How much amount can be sanctioned under Car Loan Scheme?
A.* To Individuals – 25 times net monthly salary/income. (Max. Amount of Loan – Rs. 25 lacs).
* To Business Concerns – Need based loans are sanctioned.

Q Is there any income criteria for availing the loan?
A Yes, Minimum net monthly salary / pension/ income of Rs.20,000/- is required.

Q Can a car loan be sanctioned for purchase of old car?
A. Yes, loan can be sanctioned for vehicles which are not older than 3 years.

Q How much amount is the borrower required to contribute?
A. For new vehicles, borrower is required to contribute 10% in case of purchase of vehicles from Maruti,Tata Motors, Hyundai , Honda Siel, Mahindra & Mahindra. ICML & Force Motors Ltd., with whom Bank is having a tie up arrangement.
For purchase of new vehicles of other make/companies, 15% is required to be contributed.
For old Vehicles, margin requirement is 30%.

Q What is maximum repayment period under Car loan scheme?
A. For new Vehicles: Max 84 months
For Old Vehicles: Max 60 months

Q What is the ROI on Car loans?
A. For Loans repayable up to 3 years:
10.75%,-where PNB Score is 60& above
11.25%- Other cases
For loans Repayable in 3 years & above: 11.75%

Housing Finance :
Q. Who is Eligible for a Housing Loan?
A. Individuals in the age group 18-65 years having regular income wishing to own residential properties in India are eligible to avail Housing Loan.

Q. What is the maximum amount which one can get as Housing loan?
A. For Construction, addition or purchase of new/old house/ flat/ plot- Need Based, no upper cap.
For Repair/Renovation/ alterations – Max Rs.25 lac
For Furnishing- 10% of loan amount max Rs.5 lac

Q. How much I have to contribute from my own sources to get Housing loan?
A. Following are the minimum amount one has to contribute:
For loans upto Rs.75.00 lac 20%
For loans above Rs.75.00 lac 25%
For Plots 40%

Q. How do I benefit if the interest is calculated on a daily reducing balance?
A. On the annual reducing balance method, you will continue to pay interest on amounts you repay during the coming one year as the interest for the year is determined on the basis of the balance outstanding at the beginning of the year.

In the case of the daily reducing balance, which is the methodology we employ, your interest is calculated only on the outstanding loan amount, which reduces every time you pay off your EMIs or make any prepayments. This in essence lowers your effective rate of interest significantly

Q. Can I get an in-principle approval and actually avail of the loan later?
A. Before you choose the house you want to buy, we give you an in principle approval based on your income and repayment capacity.

This makes the entire process of identifying and buying a house easier and more flexible. You won’t be under pressure to identify a house as you know how much funds the bank would make available to you.

Q. And how long is this approval valid?
A. This in-principle approval is valid for 6 months to give you sufficient time to choose a flat/house of your choice.

Q. How long does it take to get my loan sanctioned?
A. Your loan can get sanctioned in 3 to 7 working days after completion of all the desired formalities by you.