To provide financial assistance to salaried persons for their personal needs
Loan Type
Personal Loan
Eligible Category
Salaried employees meeting the prescribed conditions
Maximum Loan Amount
₹20 lakh
Loan Eligibility
Up to 24 times Gross Monthly Salary
Margin
Nil
Security
Suitable third-party guarantee acceptable to PNB
Maximum Repayment
72 EMIs or remaining period of service, whichever is earlier
Prepayment Charges
Nil
2. Eligibility Criteria
PNB has specified two categories depending on the salary-account/check-off arrangement:
Category
Eligibility
Employees drawing salary through PNB
Confirmed/permanent employees of Central Government, State Government, PSUs and reputed companies/institutions
Institutions covered
Schools, colleges, universities, autonomous bodies, hospitals, nursing homes, etc.
Minimum Service – PNB Salary Account
2 years, including service with previous employer(s), if any
Check-off Facility – Others
Minimum 3 years of service, including previous employer service
Salary Account
For the first category, salary must be drawn through an account maintained with PNB branches
3. Purpose of the Loan
The loan can be used for all types of personal needs. PNB specifically gives the following examples:
Purpose
Covered
Medical treatment of self
Yes
Medical treatment of family member
Yes
Marriage of self
Yes
Marriage of son/daughter
Yes
Education expenses of children/wards
Yes
Domestic travel
Yes
Foreign travel
Yes
Other personal requirements
Yes
4. Loan Amount
Particular
Details
Salary Multiplier
Up to 24 × Gross Monthly Salary
Maximum Loan
₹20,00,000
Final Loan Amount
Subject to repayment capacity
Additional Condition
Loan amount is also subject to the maximum permissible deduction under the scheme
For example, a gross monthly salary of ₹50,000 gives a theoretical salary-based amount of ₹12 lakh (24 × ₹50,000), subject to PNB’s repayment-capacity assessment and applicable deduction limits.
5. Margin and Security
Particular
Requirement
Margin
Nil
Security
Suitable third-party guarantee acceptable to PNB
Therefore, although no margin is required, the scheme page specifies a third-party guarantee as security.
6. Repayment
Term Loan
Particular
Details
Maximum Tenure
72 months
Service-based limit
Remaining period of service
Applicable period
Remaining service period or 72 months, whichever is earlier
EMI Start
One month after loan disbursement
The entire principal plus interest has to be repaid within the remaining service period or a maximum of 72 EMIs, whichever is earlier.
Overdraft Facility
Particular
Details
Maximum Period
Remaining period of service or 72 months, whichever is earlier
Adjustment Method
Drawing Power is reduced every month
Monthly Reduction
Equivalent to the EMI amount
7. Special Rule for Defence Personnel
Category
Maximum Repayment
Defence Personnel
60 EMIs
PNB specifically mentions defence personnel, including officials of Military Station Headquarters, BSF, CRPF, CISF and ITBP, among others. Their personal loans are repayable in a maximum of 60 EMIs.
8. Charges
Charge
Details
Margin
Nil
Prepayment Charges
Nil
Processing Charges / Upfront Fee
As per PNB’s applicable charges
Documentation Charges
As per PNB’s applicable charges
The scheme page links the applicable processing/documentation charges separately rather than displaying the amount directly on the scheme page.
9. Interest Rate
Particular
Details
Interest Rate
As per PNB’s prevailing applicable rate for the scheme
Rate Details
PNB provides the applicable rate through its separate interest-rate schedule
