Punjab National Bank (PNB) has introduced a new scheme called Instant Personal Loan, which will allow customers to avail a loan of up to Rs 1,00,000 with minimal documentation and no guarantor required. The loan can be applied for online through the bank’s website or mobile app, and the process is entirely digital, ensuring instant loan approval.
The interest rate for this loan starts from 11.40%, and the repayment period can be from 1 to 6 years. To be eligible, customers must have a CIBIL score of 700 or above and be a savings account holder with PNB.
The benefits of PNB’s Instant Loan include:
* Instant loan approval
* Low interest rate
* No guarantor or security required
* Flexible repayment period
* Apply online from home
To apply for the loan, customers need to check their eligibility, gather required documents (income proof and address proof), apply online, complete the e-KYC procedure, and wait for loan approval and fund transfer within 24 hours.
PNB also offers other loan schemes, such as home loans, car loans, and education loans, which come with attractive interest rates and flexible repayment tenures. The PNB Digi Home Loan scheme, for instance, offers a loan of up to Rs 5 crore with an interest rate starting at 8.15% and zero prepayment charges, processing fees, and documentation charges. Overall, the PNB Instant Loan scheme is a convenient and accessible option for customers who need quick financial assistance.