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PNB Business Loan Interest Rate Jan 2021

PNB Business Loan Interest Rates India

Last Updated 07th Jan 2021

PNB business loan interest rate starts at 12.65%. Punjab National Bank business loan rates vary based on the business stability, age of business, revenue and profitability of the organisation and other eligibility factors such as your CIBIL Score, age, etc. Check Best Offers

Interest Rate 12.65%
Processing Fee 1.8% + taxes
Tenure From 12 months to 60 months
Lowest EMI per lakh ₹ 2,257
Loan Amount Min ₹ 50,000 and Max ₹ 15 Lakh
Part Prepayment, Charges Nil prepayment charges
Early Foreclosure, Charges Nil prepayment charges

Ex Gratia Payment Scheme for EMIs Paid during Moratorium

Apply for Business Loan @ 13.50%* Get upto ₹ 1,000* Cashback

PNB Business Loan

PNB offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from PNB:

  • You can prepay part of your loan anytime after paying 1 % prepayment charges
  • You can foreclose your entire Business loan anytime after paying 0 EMI's at foreclosure charges - Nil prepayment charges
  • PNB has been rated 3.8/5.0 by customers for its service quality on MyLoanCare
  • PNB has over 6,352 branches in India where you can avail service

PNB Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in PNB depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 50,000 to upto ₹ 15 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: PNB offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from PNB, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: PNB will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 0.
  • Time in Business: PNB offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from PNB is 0 months.

PNB Business Loan Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age 21 to 58 years
Minimum Turnover ₹ 0
Business Existence (in months) 0 months
ITR (months) 0 months
Loan Amount ₹ 50,000 to ₹ 15 Lakh
Loan Tenure 60 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

PNB Business Loan Eligibility Calculator

Eligibility of Business loan in PNB relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. PNB offers loan to those who are at least 21 years old at the time of loan approval and maximum 58 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from ₹ 50,000 to ₹ 15 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. PNB requires profit for minimum 2 years and minimum business turnover of ₹ 0.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. PNB requires minimum business track record of 0 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 0 months and bank statement for minimum 0 months will be required by PNB.
  • CIBIL Score: When checking loan eligibility, PNB will look at the complete CIBIL report. PNB will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

PNB Business Loan EMI Calculator

PNB Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by PNB is ₹ 0.02 Lakh per lakh loan amount. EMI of PNB depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 60 months loan from PNB at an interest rate of 12.65% per annum, EMI will be ₹ 0.02 Lakh per Rs. one lakh loan amount. At an interest rate of 15.65% for the same loan, the EMI will be ₹ 0.02 Lakh.
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 12.65% per annum, the EMI on PNB business loan would range from ₹ 0.09 Lakh to ₹ 0.02 Lakh for loan tenure ranging from 12 to 60 months.
  • Amount Borrowed: PNB Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 50,000 , the EMI at 12.65% for 60 months would be ₹ 0.01 Lakh. Similarly for amount borrowed ₹ 15 Lakh, the EMI at 12.65% for 60 months would be ₹ 0 Cr.

What are the benefits of calculating business loan EMI?

  • Business loan EMI calculator of PNB helps you to calculate your monthly EMI at different rate of interest
  • PNB EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Business Loan Products

PNB offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

PNB Vanita

Description

  • Get finance up to Rs. 25,000 to setup new unit or enterprise
  • Preference will be given to ST/ SC/ BPL segment
  • To finance women to generate income via operating in businesses.
  • No collateral required

Who is eligible?

  • Women having manufacturing/ trading/ service or small business
PNB Green Ride

Description

  • Loan that helps the borrower to save the total interest payable on the home loan.
  • Attractive and affordable interest rates.
  • Pay your home loan with Nil prepayment charges. Easy processing of loan.
  • Get up to 85 percent finance of cost of the product
  • Flexible repayment period up to 33 months
  • To provide finance to transport operators of e rickshaws or to generate employment for micro borrowers.
  • No collateral or guarantor required for loan amount up to Rs. 10 lakhs

Who is eligible?

  • Salaried, self employed individuals.
  • Borrower who have valid license to operate the type of vehicle, and by an appropriate authority to ply vehicle for goods transportation and passengers
  • An Individual, Transport Operator, Sole Proprietor, Partnership Firms, Private and Public Limited Companies
PNB Sanjeevani

Description

  • Get maximum loan up to Rs. 5 crores
  • Overdraft facility available for loan amount above Rs. 1 crore
  • 20 percent discount on processing fee for online loan application cases
  • This loan is for financing professionally qualified medical doctors to purchase of equipments, clinics, medical centres.
  • Equitable mortgage of immovable property for loan amount above Rs. 20 lakhs as security

Who is eligible?

  • Qualified doctors and practitioners with minimum education of MBBS/ BAMS/ BDS/ BHMS/ BUMS
  • Individuals, Partnership, LLP, Private Limited, Limited Company, Trust can take this loan
Super Trade

Description

  • Get cash credit facility
  • High loan amount of Rs. 5 crore
  • To get finance for stocks and book debts which are not more that 4 months old.
  • 150 percent of the loan amount as property mortgage or any other liquid securities required

Who is eligible?

  • Borrowers who have financial statements of last 2 years
  • Traders or other entrepreneurs involved in trading of materials, goods or equipments
PNB Professional Scheme

Description

  • Loan repayment up to a maximum period of 7 years
  • Overdraft facility for service providers and cash credit facility for manufacturers
  • To provide finance to buy equipments to self employed.

Who is eligible?

  • Qualified professionals excluding medical professionals and traders who want to enhance own practice or set up new business
  • Individuals, Partnership, LLP, Private Limited, Limited Company or Associations
Mudra Loans

Description

  • Get maximum loan up to Rs. 10 lakhs
  • Activities allied to Agriculture excluding crop loan and land improvement loan are eligible for this loan
  • Under Pradhan Mantri Mudra Yojana, the loan is provided to non farm enterprises to generate income in manufacturing, trading and service business.

Who is eligible?

  • Borrower should not be a defaulter to the bank or any other financial institution
  • Any Individual, Proprietary Concern, Partnership Firm, Company, Association of Persons, LLP

Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. PNB allows prepayment of loan after paying 0 EMI’s with prepayment charges - Nil prepayment charges
  • Processing Fee- PNB asks for a processing fee of 1.8% + taxes with applicable service tax

Documents required

  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

FAQs

Why to take business loan from PNB?

Bank offers loan at 12.65% rate with the lowest EMI of ₹ 2,257 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to PNB.

What is the interest charged on PNB business loan?

Interest rates on Business loan in PNB are very attractive starting from 12.65% to 15.65%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from PNB?

If you apply for loan from PNB, your lowest EMI per lakh will be ₹ 2,257.

What is the minimum and maximum tenure of business loan in PNB?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum echo 60 months.

How much business loan amount I can borrow from PNB?

PNB offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 15 Lakh.

What is the processing fee charged by PNB on business loan?

PNB charges a processing fee of 1.8% + taxes with applicable tax.

Is age an eligibility factor to get loan for business from PNB?

Yes, age is an important eligibility factor to get loan as you should be at least 21 years old at loan approval time and 58 years old at loan maturity time.

What are the prepayment charges on business loan from PNB?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by PNB is Nil prepayment charges.

PNB Business Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 011-23318130
Ahmedabad 011-23318130
Ambala 011-23318130
Anand 011-23318130
Aurangabad Bihar 011-23318130
Bangalore 011-23318130
Bhilai 011-23318130
Bhilwara 011-23318130
Bhiwadi 011-23318130
Bhopal 011-23318130
Bhubaneswar Cuttack 011-23318130
Bikaner 011-23318130
Chandigarh 011-23318130
Chennai 011-23318130
Cochin 011-23318130
Coimbatore 011-23318130
Dehradun 011-23318130
Delhi 011-23318130
Durg 011-23318130
Faridabad 011-23318130
Gandhinagar 011-23318130
Ghaziabad 011-23318130
Goa 011-23318130
Greater Noida 011-23318130
Gurgaon 011-23318130
Guwahati 011-23318130
Gwalior 011-23318130
Hyderabad 011-23318130
Indore 011-23318130
Jabalpur 011-23318130
Jaipur 011-23318130
Jalandhar 011-23318130
Jodhpur 011-23318130
Kanpur 011-23318130
Karnal 011-23318130
Kolhapur 011-23318130
Kolkata 011-23318130
Kota 011-23318130
Kozhikode 011-23318130
Lucknow 011-23318130
Ludhiana 011-23318130
Madurai 011-23318130
Meerut 011-23318130
Mehsana 011-23318130
Mohali Sas Nagar 011-23318130
Mumbai 011-23318130
Mussoorie 011-23318130
Nagpur 011-23318130
Nashik 011-23318130
Noida 011-23318130
Noida Extn 011-23318130
Panipat 011-23318130
Patna 011-23318130
Pondicherry 011-23318130
Pune 011-23318130
Raipur 011-23318130
Rajkot 011-23318130
Ranchi 011-23318130
Rohtak 011-23318130
Roorkee 011-23318130
Salem 011-23318130
Shimla 011-23318130
Sonipat 011-23318130
Surat 011-23318130
Trichy 011-23318130
Udaipur 011-23318130
Vadodara 011-23318130
Varanasi 011-23318130
Vijaywada 011-23318130
Vizag 011-23318130

PNB Business Loan Reviews 3.8/5  by 2 customers
MyLoanCare Service
4/5.0
Banks Service
3.5/5.0
Dheeraj Gupta, Faridabad
Reviewed on 29th Dec 2016
3.5 / 5 stars
PNB Business Loan Availed in

Fast processing of loan but interest rates are a bit high. I am satisfied with the process as I needRead more...

Madhav Jha, Patna
Reviewed on 13th Aug 2016
4 / 5 stars
PNB Business Loan Availed in

The interest rates are good and all over processing was better than expected.Read more...

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PNB Business Loan News - Jan 2021
  • 2020-12-29 : PNB completes IT integration of all branches of two merged entities
    Punjab National Bank clarified that the customers of the former OBC Bank are now migrated to CBS of PNB wherein they can transact seamlessly via existing branches and digital banking channels like internet banking and mobile banking. The amalgamation of PNB, United Bank of India and OBC has come into effect from April 1, this year. The merger created the second-largest nationalized bank in terms of business and total branches.
  • 2020-11-03 : PNB reported an 18% decline in Q2 net profit
    PNB posted a 22% increase in net profit to Rs 621 crore in the second quarter against Rs 507 crore in the year-ago period. Bank net interest income rose to Rs 8,393 crore and the bank’s net interest margin improved to 3.21% for the quarter ended September. Further, PNB’s total income backed by retail loans like home, personal, gold, two-wheeler and car loans along with mudra and business loans stood at Rs 23,439.
  • 2020-08-25 : PNB to offer one-time loan restructuring option
    Punjab National Bank is planning to provide a one-time loan restructuring window to corporate and retail loans like home, personal, gold, two-wheeler, car, along with business and mudra loans. The plan is to assist customers whose income has decreased due to COVID-19 pandemic and subsequent lockdown.
  • 2020-08-24 : PNB Q1FY21 net profit at Rs. 475.19 crore
    Punjab National Bank posted a net profit of Rs.475.19 crores for the period ended June 30, 2020, as against a net loss of Rs.596.99 crores for the period ended March 31, 2020. In addition to this, the bank reported total income of Rs.24727.72 aided by retail loans like home, personal, car, two-wheeler and gold loan along with business and mudra loans.
  • 2020-08-10 : PNB reports profit in Q1FY21
    Punjab National Bank reported a net profit of Rs.475.19 crores as compared to a net loss of Rs.596.99 crores for the period ended March 31, 2020. The total income of the bank stood at Rs.24727.72 which was bolstered by retail loans like a two-wheeler, home, personal, car, and gold loan along with business and mudra loans.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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