Punjab National Bank (PNB) has given a great news for its customers, in which the facility of Instant Personal Loan is being introduced. The scheme will be applicable from 1 April 2025 and under this, customers will be able to get a loan of up to ₹ 1,00,000. The most important thing about this loan is that it can be obtained through online application, so that customers will not need to go to the bank.
However, in this article we could not get information about a loan of ₹ 3 lakh, but we will discuss in detail about PNB’s Instant Loan scheme. This scheme is especially for customers who require emergency loan. This loan requires the cibil score 700 or more, and this is the UNSECURED loan, which does not require any guarantor.
This scheme of PNB will benefit millions of customers, especially those who need immediate financial assistance. The interest rate of this loan starts at 11.40% and its repayment duration can be from 1 to 6 years.
Personal Loan Scheme Overview
| Speciality | Description |
| Loan amount | From ₹ 50,000 to ₹ 1,00,000 |
| Interest rate | Starts from 11.40% |
| Eligibility | Pnb savings account holder |
| Cibil score | 700 or more |
| Guarantor requirement | No |
| Repayment period | 1 to 6 years |
| Application process | Online |
Benefits of PNB Instant Loan
- Immediate loan approval: The process of this loan is completely digital, which gives you immediate loan approval.
- Low interest rate: PNB is giving loans at low interest rate than other banks.
- No guarantor: This loan does not require any guarantor or security.
- Flexible repayment period: You can fill EMI from 1 to 6 years as per your convenience.
- Online application sitting at home: For this loan you do not need to go to the bank, you can apply it online from your mobile.
Application process for PNB instant loan
- Check the eligibility: Make sure your cibil score is 700 or more and you are PNB’s savings account holders.
- Collect the required documents: Income proof and address proof will be required.
- Apply online: Go to the official website or mobile app of PNB and apply for a loan.
- Complete E-Kyc: Complete the E-KYC process with the application.
- Loan approval and fund transfer: After reviewing your application, the loan amount will be transferred to your account within 24 hours.
Other loan plans of PNB
PNB offers a wide variety of loan plans, including home loans, car loans, and education loans. Under these schemes, customers get the benefit of attractive interest rates and flexible repayment periods.
- Home Loan: A loan of up to Rs 5 crore can be taken under PNB Digi Home Loan Scheme, whose interest rate starts at 8.15%. The scheme provides benefits of zero prepament charge, processing fees and documentation charge.
- Car Loan: In the PNB Digi Car Loan Scheme, a loan of up to Rs 20 lakh is available at an initial interest rate of 8.50%. There is a 100% finance facility for both new and old cars.
- Education Loan: PNB Digi Education Loan Scheme provides a collateral-free loan at an initial interest rate of 7.85%. PM Vidyalakshmi and PNB talent schemes also provide education loans at the rate of 7.85%, including processing fees and documentation charge zero.
Documents required for PNB instant loan
- Income proof: Salary slip or income certificate.
- Address proof: Aadhaar card, PAN card, or passport.
- ID proof: Aadhaar card, PAN card, or passport.
- E-KYC: E-KYC will have to be completed with Aadhaar card and mobile number.
Eligibility Criteria for PNB Instant Loan
- Cibil Score: 700 or more.
- PNB Savings Accounts: This loan is available only to PNB’s savings account holders.
- Age: To take a loan, the age limit has to be taken care of, which is usually between 21 and 60 years.
PNB instant loans often asked questions
- Is PNB Instant Loan available to all customers?
- No, this feature is available only to PNB Bank Saving Account Holders.
- Will this loan require guarantor?
- No, this is the UNSECURED Loan, which does not require a guarantor.
- How long will PNB Instant Loan be available?
- If you upload all the documents correctly, the loan amount will be transferred to your account within 24 hours.
- Can this loan be pre-pay?
- Yes, but you have to give 2% Pre-Closure Charge.
conclusion
PNB’s instant loan scheme is a great option for customers who require immediate financial assistance. The process of this loan is completely digital, so that you can get loan approval from home. Although no information was found in this article about a loan of ₹ 3 lakh, other loan plans of PNB can also be attractive.
Disclaimer: According to the information given in this article, PNB’s Instant Loan scheme provides a loan of up to ₹ 1,00,000, but there is no official information about loans of ₹ 3 lakh. This information is given only on the basis of the available schemes of PNB. It would be appropriate to get the latest information by visiting the official website of PNB.
