Punjab National Bank (PNB) is India's leading public sector bank that provides various financial services. The PNB Car Loan Eligibility Calculator helps you determine a PNB car loan eligibility.
Enter basic details, such as your income, age, employment status, and loan amount, to estimate your loan amount.
The following table outlines the eligibility criteria for a car loan from Punjab National Bank. These criteria are based on factors such as the customer's age, employment status, income, loan amount, and EMI.
| Eligibility Criteria | Requirement |
|---|---|
| Age | 21-65 years |
| Employment Type | Salaried, self-employed people, professionals, businessmen |
| Income | The minimum net monthly income of Rs. 20,000 for both salaried individuals and self-employed individuals |
| Loan Amount | Up to 100% of the ex-showroom price (New cars) Up to 100% of market value (Preowned cars) |
| Repayment Tenure | Up to 7 years |
| Interest rate | Floating rate: 8.60% p.a. to 9.40% p.a. Fixed-rate: 9.50% p.a. |
| Credit score lesser than 700 Credit score of 700 to 749 | 9.35% p.a. 9.1% p.a. |
Various factors are crucial in determining the eligibility for a car loan from Punjab National Bank. These factors include the customer's income, age, employment type, credit score, existing debt obligations, repayment capacity, and loan amount.
To apply for a new car loan from Punjab National Bank, customers need to submit the following documents:
Identity proof: Aadhaar card, PAN card, passport, driving license, voter ID, etc.
Address proof: Aadhaar card, passport, driving license, voter ID, utility bills, etc.
Income proof: Salary slips, bank statements, IT returns, etc.
Car documents: Proforma invoice, RC book, insurance copy, etc.
Passport-size photographs.
Note: The bank may ask for additional documents if required.
It is a tool that helps customers determine their eligibility for a car loan from PNB.
Basic details such as income, age, employment status, and loan amount are required.
The calculator provides an estimate based on the information provided, but the final decision is subject to the banks discretion.
The minimum age requirement is 21 years.
Yes, self-employed individuals can apply for a car loan from PNB if they meet the eligibility criteria.
The maximum loan amount is up to 90% of the cars ex-showroom price.
The repayment tenure can be up to 84 months.