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PNB Car Loan

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
Details
Documents Required

  • Duly filled in application form along with a recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport
  • Identity card of current employment
  • PAN Card
  • Statement of bank account for the last 6 months
  • Income Proof Details – Form 16 for the last 2 years, Latest Salary Slip for 3 months
Benefits

  • This car loan is specifically meant for employees who are working in state/ central government, quasi-government, defence personnel and paramilitary forces
  • The tenure of the loan is spread over 84 equated monthly instalments
  • Lowest Interest Rates
  • Easy on the pockets of borrowers to repay the loan amount
Eligibility

  • The borrower should be an employee of State/Central Government, Defence Personnel, Quasi Government, Paramilitary Forces
  • The minimum net monthly income of the applicant should be Rs 20,000
  • The applicant can also add the income of either spouse or parents or children for determining the loan amount eligibility
  • The minimum age of the applicant should be 21 years
  • The maximum age of the applicant should be 65 years
  • The applicant should be a resident Indian.
Other Details

  • Processing Fee is nil
  • Guarantee or collateral security is not required
  • Quantum of finance: Rs 100 lakhs or 25 times of the net monthly salary whichever is low
  • For New Vehicles: Loan amount is 15% of the on-road price (includes one-time road tax and insurance)
  • For Old Vehicles: Loan amount is 30% of the value of the vehicle
  • For those cars which has tie-up arrangements between the PNB and manufacturers/dealers: Loan amount is 10% of on-road prices
PNB Car Loan for Public MCLR + 0.60% - MCLR +0.95% 1000 above Rs 6,00,000 84 months
Details
Documents Required

  • Duly filled in application form along with a recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport
  • Identity card of current employment
  • PAN Card
  • Statement of bank account for the last 6 months
  • Income Proof Details – Form 16 for the last 2 years, Latest Salary Slip for 3 months
Benefits

  • Lowest Interest Rates
  • Minimum Processing Fee
  • The repayment tenure for the new car or MUV or SUV or Jeep or van is 84 months
  • The repayment tenure for old car or MUV or SUV or Jeep or van is 60 months
  • No – prepayment charges will be levied to the borrower in case of the floating rate.
  • A fixed rate of 2% on the outstanding prepaid amount will be charged for a fixed rate of interest on the loan.
Eligibility

  • The minimum net monthly salary of the individuals or pensioners should be Rs 20,000
  • The applicants can be either individuals or proprietorship concerns who have turn over of Rs 100 lakhs or 25 times the net monthly salary or pension income (whichever is lower).
  • In the case of business firms, there is no maximum limit on loan amount
  • The applicant should be a resident Indian.
  • The vehicle which will be purchased using the loan amount should be used for private purpose only.
  • The income of the spouse or parents or earning children can be added for determining the eligibility of loan amount.
Other Details

  • Processing Fee is Rs 1000, for up to Rs 6,00,000 of the loan amount and it is Rs 1,500 if the loan amount is more than Rs 6,00,000.
  • Proposed inspection charges on a car loan are Nil.

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