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CIBIL score for Punjab National Bank personal loan

Punjab National Bank is one of the most reputed banks in India and it offers a personal loan that is a one-stop solution at the time of need. If it is your son’s wedding or own wedding or you have to cover medical bills, the personal loan can save you. However, low credit score along with other eligibility criteria can destroy your dream of being eligible for the loan application. Gone are the days of worrying about low credit score because you can improve it and fix other factors to fulfil personal needs in no time.

Importance of CIBIL score for getting Punjab National Bank personal loan

When the lender checks the credit report, the officer gets the first impression of your credit-worthiness. It communicates to the loan officer about whether you will be able to repay the loan on time. The low CIBIL score is always a red flag for the people applying for Punjab National Bank personal loan and the high score does the opposite of the rejection.

  • If you are facing a financial emergency and running out of funds, utilise your perfect CIBIL score to get a personal loan from Punjab National Bank in a hassle-free way.
  • It is better to maintain a minimum of 700 CIBIL score for averting any case of delays in the loans.
  • Without any trace of credit history, you cannot apply for the loan. There is time for building a credit history to ease the way of applying for loans in future. In order to get approval for the personal loan application, you need to get hold of a strong CIBIL score. The high score leads the path of gaining the trust of the lender and the loan processing task becomes the least time-consuming. Needless to say, the faster you receive the loan product, the quicker you can pay for personal needs.

Punjab National Bank Personal Loan Information

PNB offers financial assistance to the public who needs to fulfil their personal requirements. The interest rates are comparatively lower than the competitors in the market and the processing fee is also lower than what is offered by other lenders in the market. However, the pensioners do not have to pay the processing fee and the loan amount can take care of urgent financial requirements of the borrower. The personal need can arise at any given time but the following are the common reasons for taking Punjab National Bank personal loan:

  • Medical expenses for a family member or yourself
  • Marriage costs
  • Covering educational needs
  • Foreign or domestic travel expenses

The term of the loan is limited to 60 EMIs and the loan includes the income of the spouse before ascertaining your capacity of loan repayment. There are discounted schemes, reasonable interest rates, online facilities, no hidden charges and no foreclosure charges. Any pensioner drawing pension from PNB can avail the loan for paying off medical bills.

Probable reasons for Punjab National Bank personal loan rejection

Low CIBIL score is the biggest determinant of your personal loan application and if the score is below 650, you may have to wait. PNB readily sanctions personal loan to the customers having 700-900 credit score. It is a nationalised bank and the applicants are expected to hold a good credit score without any scratch on the report. Apart from the low CIBIL score, there are other factors which determine your eligibility in taking a personal loan. Following are the factors checked by PNB before sanctioning the personal loan:

  • Low monthly income
  • Unstable employment
  • Being under or over the age limit
  • Living in a location with a high rate of defaults
  • Collaborating with a delisted private organisation

Tips for improving CIBIL score to get Punjab National Bank Personal Loan

There are multiple ways to get a personal loan from PNB if you have a low CIBIL score. Instead of a nipping your dream in the bud, you can follow the mentioned steps:


  • Monitor the credit report regularly for checking any delay or default payments which can lower down the score. You can repair the credit score by taking the cue of negative remark on the report.
  • Try to clear the entire loan or credit payments at one go. Installation may leave a negative impact.
  • Take the longest loan period for reducing financial expenses spent on loans. In this way, the CIBIL score goes up by the scale of expenditure and income.
  • Maintain a mixed and balanced bag of unsecured and secured loans. Try to increase the number of secured loans more than the unsecured loans.
  • Keep the number of loan enquiries low for averting two disadvantages. Get rid of credit-hungry behaviour and the inability of making payments on time even having the capability of doing so.


  • Do not start celebrating lavishly after clearing dues and credit payments. The excessive expenditure can be a sign of reckless nature with money matters.
  • Do not spend beyond the credit limit frequently. The score will only deteriorate further.
  • Do not apply to a bank continuously after facing one rejection with the personal loan. PNB always welcomes the customers who have taken time and fixed the credit score.

FAQs on CIBIL score for Punjab National Bank personal loan

What are the personal loan rates of Punjab National Bank?

Self-employed Salaried
Minimum interest rate 11.65%12%
Loan period 12- 60 months12- 60 months
Processing fee1.8% and taxes1.8 and taxes
Pre-closure charges No pre-payment charges, permitted after 0 EMI No pre-payment charges, permitted after 0 EMI
Part prepayment charges Same as above Same as above
Loan amount Rs. 50,000-Rs.20,00,000Rs. 50,000-Rs.15,00,00

What is the eligibility criteria for getting Punjab National Bank personal loan ?

If you are an Indian (salaried or self-employed) citizen, you cannot apply for the PNB personal loan right away because there is a set of eligibility criteria,

  • Age - 21-65 years
  • Employment status - 2 years in business or 3 years of current employment
  • Highest loan amount - Varies as per the borrower’s repayment potential; Rs. 70 lakhs usually
  • Period - 6 months-60 months
  • CIBIL score - 700-750+

What if I have a low CIBIL score? Will Punjab National Bank still give me a personal loan?

When you have a low credit score, you still can have a personal loan based on the following options:

  • Present a family member or friend as a guarantor
  • Check whether your spouse has a decent credit score and ask for a joint loan
  • Try collateral or secured loan with fixed deposits, property or gold
  • Check whether your working organisation collaborates with PNB to avail of special facilities

Does skipping Punjab National Bank personal loan payment affect my CIBIL score?

Yes, missing one single payment can adversely affect the credit score due to which you cannot afford to skip Punjab Bank personal loan payment while struggling with an average score. This will decrease credit-worthiness and the bank can lower down the credit limit in future. A clean credit card record is the easy way to keep the CIBIL score high.

Had a loan settlement with Punjab National Bank, will it affect my CIBIL score?

When PNB writes off a loan, CIBIL is reported promptly. CIBIL does not consider the termination of the relationship between the customer and the bank. However, the further settlement is taken into account and the borrower’s score may drop by 75-100 points or even more. Note that CIBIL keeps the record for seven long years and the lender will not agree to offer a loan to such borrower right away. In this case, previous payments are considered but PNB can reject the personal loan if there is a settlement in the credit report.

Can I get more than 3 Punjab National Bank personal loans if I have a good CIBIL score?

There is no cap on the number of personal loans one can acquire. However, it is recommended not to have more than 3 PNB personal loans. Three loan repayments can be a burden on you and it is better to pay the charges beforehand.

What should be my minimum monthly income for being eligible for PNB personal loan?

An applicant of Punjab National Bank personal loan must have a minimum income of Rs. 15,000 (if working for an organisation). If you are a self-employed person, Rs. 20,000 is the minimum monthly income.

I am a pensioner. Can I apply for a Punjab National Bank personal loan?

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Which documents should I file for Punjab National Bank personal loan?

Without disclosing essential documents, your PNB personal loan application,

  • Duly filled loan application
  • Identity proof (passport/ driving license/ voter ID/ PAN)
  • Income tax returns for past three years (self-employed professional)
  • Residential proof (electricity bill/ telephone bill)
  • Three passport photographs
  • Income tax returns for the last two financial years (salaried professional)
  • Bank account statement or passbook statement for the last 180 days

Where do I apply for Punjab National Bank personal loan?

You can visit the nearest PNB branch for proceeding with the personal loan application physically. However, you can apply at home by availing the online loan service controlled by Punjab National Bank. In case, if you face any trouble filling up the details, you can take help of the customer care.