Punjab National Bank Car Loan | Features & Eligibility | How to Apply

Punjab National Bank Car Loan Facility – Punjab National Bank (PNB), an Indian financial services company offers a featured based car loan facility at low ROI to make common man’s new car dream come true. Apply now! Drive home with your dream car at the lowest rate of interest with the PNB Car Loan facility. It is the best and convenient options to finance a new car for the first time PNB users.

punjab-national-bank-car-loan

Top Features List – PNB Car Loan

Punjab National Bank offers several key features of PNB Car Loan. Here are a few features to let you know:

  • The repayment tenure of PNB Car loan for new cars is up to 7 years and for pre-owned cars is up to 5 years.
  • The processing fee is reasonable for customers.
  • The rate of interest calculated is more affordable for loan applicants.
  • The loan holder should have a minimum salary or pension amount of Rs.20,000.
  • Low earning salary persons can also easily avail PNB Car Loan.
  • The margin on the new car loan of PNB is up to 15% of the on-road price and up to 30% on a pre-owned car.
  • Flexible EMI for loan applicants and it is based on factors like principal amount, tenure, and interest rate. Loan users can calculate the monthly installment and also view the amortization schedule.

Must Read: Punjab National Bank Personal Loan

Eligibility Criteria – Punjab National Bank Car Loan

PNB loan users should need to know the eligibility criteria to apply for PNB Car Loan. Let’s have a look.

  • Anybody who wants to purchase a vehicle for their personal use can only apply for PNB Car Loan.
  • The minimum age to avail of this car loan from PNB Bank is 21 years.
  • The maximum age at the time of loan maturity would be 65 years.
  • All Individuals and business persons (corporate or non – corporate) are eligible to apply for Punjab National Bank car loan to buy a four-wheeler for private purpose only.
  • A residence telephone number must be provided.
  • Applicants can be either a salaried individual or a self-employed have the eligibility to have a car loan facility.
  • Individuals who are applying for PNB car loan should need to earn a minimum monthly income or pension of Rs.20,000.
  • Need to provide collateral (security person to repay the loan amount) if required.

Also, Read – How to Apply for PNB Home Loan

Documentation needed to apply for a Punjab National Bank Car Loan

Applicants who are applying for the PNB Car Loan should need to provide necessary documents to get accepted the loan fastly.

  • Duly-signed application form with photograph
  • Photo ID proof – Passport/Pan card/Voter ID/Driving License
  • Age proof
  • Residence proof – Ration Card/Driving License/Voters card/passport/Telephone bill/Electricity Bill/
  • Latest 6 months bank statements
  • Salaried applicants should submit the latest 3 months salary slips, Form-16/Income Tax Returns (ITR).
  • Self-employed applicants need to submit the latest 3 years ITR with income, CA Certified/Audited Balance Sheet/ Profit & Loss Account

Also, Check – PNB Online Banking

How to Apply for PNB Car Loan?

Users who want to avail PNB Car Loan Facility have to fill the application form online at PNB’s official website. Also, users can get a copy of the loan application form by visiting the nearest PNB bank branch. Applicants once submitted the form can track the status of the loan application online.

Leave a Reply