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Kindly fill in your details for a Car Loan
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PNB Car Loan

PNB Car Loan

 

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3 review(s)
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  • Maximum Loan Amount
  • Rs. No ceiling on loan amount
  • Minimum Loan Amount
  • Rs. Rs 1 Lakh
  • Loan To Value Ratio
  • 85%
  • Interest Rate
  • 12.75 %
  • Interest Type
  • Floating
  • Rate Type
  • Monthly reducing
  • Processing Fees
  • 1% or Rs 6000
  • Prepayment Charges
  • Not available
  • Repayment Years (Max)
  • 7 year(s)
  • Repayment Years (Min)
  • 1 year(s)

Features and Benefits of PNB Car Loan

Features

  • Loan is available for New car/Van/Jeep/Multi Utility Vehicle (MUV)/Sports Utility Vehicle (SUVs) or old vehicles that are not older than 3 years
  • Loan repayment period for new vehicles is 7 years and for old vehicle is 5 years
  • Maximum loan available for new vehicle is up to 85% of the vehicle’s ex-showroom price & for old vehicles is 70% of the vehicles cost
  • The vehicle purchased is hypothecated to the bank and is registered in the name of the borrower jointly with the bank

Eligibility

  • Any individuals and corporate with minimum income of Rs 20000 per month, here individuals can include income from spouse or parent
  • Individuals/Proprietors are eligible for 25 times of monthly net salary or Rs 25 lakh whichever is lower.

Charges

  • Loan processing charges: 1% of loan amount , with maximum of Rs 6000

 Interest Rate

  • Car loan is available only on floating rates from 01.07.2010 new car loan Car loan was fixed rate loan. From 01.07.2010, new car loan will be floating i.e. to be changed with change in BR. The old car loans will be mandatorily migrated to base rate system on the reset date.

Documents Required for PNB Car Loan

Salaried Individuals

  • Application form with recent photograph
  • 2 passport size photographs
  • Bank statement for last 12 months
  • Proof of Identity (any one): Passport/Driving licence /Photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill

Self Employed

  • Application form with recent photograph
  • 2 passport size photographs
  • Bank statement for last 12 months
  • Proof of Identity (any one): Passport/Driving licence /Photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • Proof of official address

Expert Review of PNB Car Loan

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User Reviews

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PNB car loan well featured bank

By: Amit, Chennai | 16 May 2010

I am having a wonderfull relationship with PNB, i got my loan very quickly and without much hassles....[Read]

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Punjab nationa bank offers wonderfull car loan

By: Jitender, Delhi | 13 May 2010

People dealing with other private sector banks must see how these public sector banks operate. they are not blood sucking machines. Its alright if you have to compromise on service levels bt at the en...[Read]

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services

By: pradeep, India | 17 August 2010

the worst type of services ever seen in the banking sector, no assistance given to small time borrower. All my stocks in 2005 were washed down by floods but I was kept in the dark and one fine day I w...[Read]

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