Punjab National Bank (PNB) is a trusted public bank in India that offers a range of banking services and financial products, including loans. To compete with the new-age money loan apps, PNB has introduced many advanced features that make borrowing an easy affair. The easiest way to find the outstanding loan balance in PNB is to log into your PNB account. Your online loan account can give you all the necessary information regarding your loan; this includes your outstanding balance, payment history, the next EMI date, and other details.
You can also access your outstanding loan information by visiting your nearest PNB branch or dropping an email to their registered email. Do mention your loan account number and you will receive your loan details within the next 3 days. You can also access this information by calling their toll free number. Provide your authentication details to access your loan information.
PNB also has a money loan app through which you can avail easy instant loans if you satisfy their eligibility criteria. You can access this online loan feature through their mobile banking app PNB One.
Punjab National Bank (PNB): Different Types of Personal Loans
PNB is one of the most reliable banks in India. That’s why, many borrowers choose PNB over private banks for availing loans. PNB offers both retail loans and MSME loans. PNB offers personal loans under the retail loan division.
PNB provides 3 types of personal loans: PNB Personal Loan Scheme for Pensioners, PNB Personal Loan Scheme for the Public, and PNB Advance against Gold and Jewellery.
You can apply for a personal loan at PNB via online loan application or offline process. Remember, personal loans and unsecured loans, in which case you are required to satisfy the eligibility criteria to get your loan approved. We will now study more about PNB personal loans and how to check your outstanding loan balance.
Punjab National Bank (PNB) Personal Loans: How to apply?
If you want to apply to PNB for a personal loan, you can do so in 2 ways: offline and online.
- Online Method: To submit your personal loan online application to PNB, you have to first visit the official web portal of the bank and provide the mandatory details. These include income source, name, ID proof, address proof, and age proof. Thereafter, PNB officials will initiate the verification process. If your documents are in order, your loan application will be approved. The money will be credited to your bank account subsequently.
- Offline Method: Visit any PNB branch, where you have to fill in the application form and submit the requisite documents. After conducting the verification process, the bank will inform you whether your loan has been approved or rejected.
Punjab National Bank (PNB) Personal Loans: Documents Needed
Among documents you have to submit while applying to PNB for a loan are:
- Filled out loan application form
- Passport-sized photos (3 Nos.)
- Bank Account Statement or Pass Book for the past 6 months
- Residence Proof including a photocopy of the electricity bill or the latest telephone bill
- Identity Proof, which includes a copy of PAN Card, Driving License, Passport, or Voters ID Card
- IT Returns: In case of salaried employees, they should submit Form 16 for the last 2 financial years; self-employed professionals have to submit IT Returns for the past 3 years
Punjab National Bank (PNB) Personal Loans: Eligibility Criteria
To get approved for a PNB personal loan, you have to fulfil the following eligibility criteria. Before applying, you can also check your eligibility for an instant loan via the money loan app.
- Age: between 21 years and 65 years
- Nationality: Indian
- Employment Type: Self-Employed or Salaried
- Employment Status: In business for minimum 2 years or employed with current employer for minimum 1 year
- Income Criteria: The acceptable income range is Rs 4000 to Rs 20000 per month (varies according to location)
- Loan Tenure: Starts from 6 Months and goes up to 60 Months
- Credit Score: Ideally 750
Punjab National Bank (PNB) Personal Loans: Factors Affecting Your Application
Besides the given eligibility norms for your PNB personal loan, other factors impacting your loan application are:
- Location: The minimum income criterion for people residing in metropolitan cities is higher.
- Salary: You can avail a greater loan amount if you draw a higher income.
- Housing Situation: If you reside in your own house, you can get approved for a higher loan amount.
- Company of Employment: You can negotiate for a lower interest rate if you are employed with a reputed company.
- Credit History: With a good credit history, your chances of loan approval are high.
Punjab National Bank (PNB) Personal Loans: How to Know Your Outstanding Loan Balance?
You can check the outstanding amount on your PNB loan balance by logging in to your PNB personal loan account. You have to provide your username or mobile number to log into your PNB account. You can find complete information about your PNB online loan via your PNB online account. You can view the repayment or amortisation schedule, which mentions details such as:
- Personal loan repayments, including details about your EMIs, the principal amount, and interest.
- Repaid loan amount.
- Outstanding loan amount.
- EMI dates.
- EMI amount.
Alternatively, you can obtain your PNB loan account statement via the following methods:
- You can send an email to email@example.com. When doing so, you have to mention your loan account number. PNB takes 3 working days to deliver your amortisation schedule / loan statement to your inbox.
- You also have the option of contacting the PNB Personal Loan Customer Care Numbers (toll-free) – 1800 180 2222 and 1800 103 2222. The landline number for PNB Personal loans is 011 – 28044907. If you are calling outside India, you should dial 0120-2490000.
- You can even visit your nearest PNB branch to receive your online loan account details and outstanding loan balance.
Keeping track of your PNB outstanding loan amount helps to plan your repayment. Knowing your outstanding loan balance can also help you plan your finances. It helps you understand if you can opt for loan foreclosure, the pending loan term and the interest that’s being charged on your loan.