PNB Car Loan
- 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
User Reviews
- Product Rating -
Average user rating
- Member's Recomendation
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]
- Product Rating -
Average user rating
- Member's Recomendation
-
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]
- Product Rating -
Average user rating
- Member's Recomendation
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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