PNB Sahyog Loan - Interest rates, Eligibility, Documents required.

Punjab National Bank (PNB) is a Banking and Financial service bank owned by the Govt of India with its headquarters is in New Delhi, India. The bank was founded in the year 1894. It is the second-largest public sector bank in India, both in terms of business and its network. The bank has over 115 million customers, 11,000+ branches and 13,000+ ATMs post-merger with United Bank of India and Oriental Bank of Commerce, effective from 1 April 2020.

PNB has a banking subsidiary in the UK (PNB International Bank, with seven branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai, and Kabul. It has representative offices in Almaty (Kazakhstan), Dubai (United Arab Emirates), Shanghai (China), Oslo (Norway), and Sydney (Australia). In Bhutan, it owns 51% of Druk PNB Bank, which has five branches. In Nepal, PNB owns 20% of Everest Bank Limited, which has 50 branches. Lastly, PNB owns 41,64 % of JSC (SB) PNB Bank in Kazakhstan, which has four branches.

Personal loan scheme for the public - PNB Sahyog loan 

The main objective of this scheme is to provide financial assistance to our existing customers affected because of the COVID19 pandemic, to meet their emergent consumption or medical needs.

Features of PNB Sahyog Scheme   

  • Minimal paperwork.
  • No hidden charges.
  • Flexible repayment option.
  • Attractive rate of interest
  • No restriction on the end-use of the loan amount as it is a MULTIPURPOSE LOAN.
  • Quick processing & disbursal.
  • A Loan can be availed for various personal requirements.

Documents required for PNB Sahyog

  • ID Proofs like Aadhar, PAN, Voter ID, and Passport.
  • Address proof like Aadhar, PAN, and Driving license. 
  • Income proof. 
  • Bank statements.

Eligibility for PNB Sahyog scheme 

  • Should be an Indian citizen residing in India.
  • Minimum Net Take Home Salary is Rs 15000.00 in Metro/ Urban Centres and Rs 10000.00 in Semi-Urban/ Rural Centre.
  • Repayment to be ensured up to Maximum 60 years of age of the borrower.
  • Age limit: Required age of the salaried applicant for PNB personal loan application is 21 years to the maximum of 58 years at the time of loan maturity whereas for self-employed individuals the age bracket ranges from 21 to 65 years.
  • All Salaried Confirmed/permanent employees of Central/State Govt/PSU's and all reputed companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals/ Nursing Homes, who are either drawing their salary through accounts maintained with our branches i.e. PNB (erstwhile OBC and UBI).
  • All permanent Defense Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibetan Border Police, etc. are eligible for PNB personal loans. However, Defense Personnel, who are due for retirement within the next 24 months, may not be eligible.
  • Years in job/profession: Salaried and Self-employed individuals should have a minimum of 2 years of job or professional continuity.

PNB Sahyog Interest rates and Fees

  • Repo Linked Lending Rate (RLLR) is 7.05% + 2.0%, Total interest rates is 9.05%
  • There is no processing for document charges.
  • No pre-payment charges.

Features of PNB Sahyog Scheme

  • Loan Amount of up to 3 Lakhs.
  • Interest rates are starting from 9.05%.
  • Loan tenure of up to 36 months.
  • No Document charges.
  • No prepayment charges.
  • Official website of PNB Sahyog.

Steps to apply for PNB Sahyog Scheme 

  • Download the Official application form "Click here"
  • Submit it to the Nearest PNB Bank Branch.
  • The Bank manager will approve or disapprove your application.
  • Once the loan is approved the amount will be credited in your bank account.

PNB Sahyog Contact details

    The customer care contact details for PNB Sahyog is 18001802222, 18001032222. You can contact 24x7.

Conclusion (Personal review)

   With more than a million downloads on Playstore, it one of the most reliable apps around. They disburse loan very quickly and the customer care response is also quick, The interest rates are high and there is a limited loan that you can borrow. For a salary advance, this company is very good as there is no late payment.