|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|PNB Pride Car Loan for Government Employees||MCLR+0.20%-MCLR+5.00%||Nil||Maximum of 100 lakhs or 25 time net monthly salary||7 years|
|PNB Car Loan for Public||MCLR + 0.60% - MCLR +0.95%||1000||above Rs 6,00,000||84 months|
Q: What is the eligibility criteria to avail car loan from Punjab National Bank (PNB)?
A: Punjab National Bank car loan eligibility differs from one person to another person and may not be the same in all situations.Some of the key points are listed below:
Q: For what types of vehicles does PNB offer car loans?
A: Punjab National Bank offers car loans for the purchase of a New Car, Jeep, Van, Sports Utility Vehicle (SUV) and Multi Utility Vehicle (MUV). PNB Car loan is also offered for the purchase of a used car, jeep, van, SUV and MUV which are not older than three years from the time of registration.
Q: What is the maximum repayment tenure for PNB car loan?
A: The maximum loan repayment tenure depends on the class of the vehicle. Whether the vehicle is new or old. For new vehicles, the maximum loan repayment tenure is 7 years. In the case of old vehicles, the maximum loan repayment tenure is 5 years.
Q: Can the income of immediate family members be added for increasing loan eligibility?
A: Yes, the income of immediate family members like parents, spouse and earning children can also be added to increase the loan amount and eligibility. However, the income of only one person can be added and that person will also stand as the co-borrower.
Q: What is the processing fee PNB charges for car loan borrowers?
A: The processing fee charges for Punjab National Bank Car Loan is 1% of the loan amount subject to a maximum of Rs 6,000 and is exclusive of GST.