New PNB Loan Scheme – In a welcome move for millions of borrowers, Punjab National Bank (PNB) has rolled out a new and attractive loan scheme aimed at offering cheaper and more accessible financing options. This new initiative is designed to ease the financial burden on individuals, especially amid rising living costs and interest rates. Whether you’re planning to renovate your home, expand your business, or cover urgent personal expenses, PNB’s latest loan scheme may be just the right solution. Let’s break down the key highlights of the new PNB loan scheme, who can benefit, eligibility criteria, interest rates, application process, and more.
PNB’s New Loan Scheme – What’s New?
PNB’s newly launched loan scheme focuses on affordability and simplified access. The bank is offering interest rate concessions, reduced processing charges, and quicker disbursal mechanisms to enhance customer experience.
Key Benefits of the New Scheme:
- Reduced interest rates for salaried and self-employed individuals.
- Additional 0.25% discount for women borrowers.
- No prepayment or foreclosure charges.
- Fast-track processing and digital documentation.
- Loans available across personal, home, and business segments.
Types of Loans Covered Under the Scheme
The new PNB loan scheme applies to various categories, making it suitable for a wide range of needs.
Loan Categories Offered:
- Personal Loans: For marriage, medical expenses, education, or travel.
- Home Loans: Construction, purchase, renovation of property.
- Car Loans: For new or used vehicles with flexible EMI options.
- Business Loans: MSME and startup funding at attractive rates.
- Education Loans: For domestic and international studies.
- Gold Loans: Quick liquidity against gold assets.
- Pensioner Loans: Special slab for senior citizens with stable pensions.
Interest Rate and Repayment Details
The highlight of the scheme is the reduced interest rates and relaxed repayment terms, making loans affordable.
| Loan Type | Interest Rate (From) | Repayment Period | Processing Fee | Special Offer |
|---|---|---|---|---|
| Personal Loan | 10.25% p.a. | Up to 5 years | 1% of loan amount | 0.25% off for women |
| Home Loan | 8.35% p.a. | Up to 30 years | ₹10,000 cap | Free insurance cover option |
| Car Loan | 9.00% p.a. | Up to 7 years | 0.5% of loan amount | 50% off on processing fee |
| Business Loan | 10.50% p.a. | Up to 10 years | ₹15,000 cap | MSME priority lending benefit |
| Education Loan | 8.75% p.a. | Up to 15 years | Nil | Moratorium till job placement |
| Gold Loan | 7.50% p.a. | Up to 2 years | Nil | Instant disbursal |
| Pensioner Loan | 9.85% p.a. | Up to 5 years | Nil | Flexible EMI from pension |
Eligibility Criteria and Required Documents
The loan scheme is available to a broad range of applicants, including salaried, self-employed, pensioners, and women borrowers. PNB has simplified the documentation process as well.
Eligibility Criteria:
- Applicant must be an Indian citizen aged between 21–65 years.
- Should have a stable income source (salary, business, or pension).
- Minimum credit score of 650 preferred.
- Existing PNB customers get additional benefits.
Documents Required:
- Identity proof (Aadhaar, PAN, Passport)
- Address proof (Utility bill, Rent agreement)
- Income proof (Salary slips/ITR/Bank statement)
- Employment certificate or business registration
- Passport size photographs
- Loan application form duly filled
How to Apply for PNB’s New Loan Scheme
Applying for the new scheme is simple and fully digital. You can either visit the nearest branch or apply online.
Step-by-Step Process to Apply:
- Visit the official PNB website or your nearest branch.
- Choose your loan type and fill out the application form.
- Upload necessary documents or submit them at the branch.
- Await document verification and credit assessment.
- Once approved, loan disbursal is done within 24–48 hours.
Digital Application Highlights:
- e-KYC enabled
- Loan calculator available on website
- 24×7 customer support via chat and helpline
- Status tracking through SMS/email
Comparison with Other Banks
Here’s how PNB stacks up against other major banks in terms of personal loan offerings.
| Bank Name | Starting Interest Rate | Processing Fee | Maximum Tenure | Unique Feature |
|---|---|---|---|---|
| PNB | 10.25% p.a. | 1% | 5 years | Discount for women applicants |
| SBI | 11.15% p.a. | 1.5% | 6 years | Loan for pensioners |
| HDFC Bank | 10.75% p.a. | 2% | 5 years | Instant digital approval |
| ICICI Bank | 11.00% p.a. | 2% | 5 years | Top-up loan facility |
| Axis Bank | 10.99% p.a. | ₹999 to ₹2,000 | 5 years | Seasonal offers on personal loans |
Who Should Take Advantage of This Scheme?
PNB’s loan scheme is ideal for:
- First-time homebuyers looking for cheaper EMI options.
- Salaried professionals needing personal or car loans.
- MSME owners seeking funding for business expansion.
- Students planning for overseas or domestic higher education.
- Senior citizens and pensioners requiring emergency liquidity.
PNB’s new loan scheme in 2025 is a game-changing opportunity for individuals and businesses alike. With competitive interest rates, hassle-free processing, and customer-centric features, PNB is making loans more inclusive and affordable for crores of Indians. Whether you’re looking to fund personal needs, buy a house, or start a business, now is the right time to explore this offering.
Frequently Asked Questions (FAQs)
Q1. Who can apply for PNB’s new loan scheme?
Any Indian citizen aged 21 to 65 years with a regular income source can apply, including salaried employees, self-employed individuals, pensioners, and students.
Q2. What is the minimum interest rate under this scheme?
Interest rates start from 7.50% p.a. for gold loans and go up depending on the loan type and applicant’s creditworthiness.
Q3. Is there any benefit for women borrowers?
Yes, women applicants are eligible for an additional 0.25% discount on interest rates across most loan categories.
Q4. Can I prepay the loan without penalty?
Yes, PNB’s scheme allows for prepayment or foreclosure without any additional charges.
Q5. How long does it take to process the loan application?
If documents are in order, loan approval and disbursal can be completed within 24–48 hours.