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PNB Business Loan Jul 2021

PNB Business Loan Interest Rates India

Last Updated 15th Jul 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 Payment Facility Nil prepayment charges
Foreclosure Facility Nil prepayment charges
Apply for Business Loan @ 14.00%*

PNB Business Loan Details

PNB offers multiple business loan products for self-employed professionals and non-professionals at low rates. Below-mentioned are the details of the business loan PNB.

Key Features of PNB Business Loans
  • Purpose of Loan: You can avail PNB business loan to expand or modernise your business, purchase assets, set up new units etc.
  • Loan available for self employed professionals and non-professionals.
  • Borrowers within the age group of 21 and 58 years can avail PNB business loan.
  • Security: Both Secured & Unsecured
  • Loan Tenure can range from 12 to 60 years.
  • PNB business loan interest rates are in the range of 12.65% to 15.65 %.
  • PNB Bank business loan EMI per lakh starts from ₹ 2,257.
  • Processing Fee: 1.8% + taxes
  • Special schemes: Some of the special business loan offers of PNB are:

Factors affecting PNB Business Loan Rates

There are multiple factors on which PNB 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 amounts can be lower resulting in lower EMIs.

CIBIL Score

PNB offers business loans at higher interest rate if your CIBIL score is low or vice versa. However, to get a loan from PNB, your CIBIL score should be at least 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.

Revenue

PNB will offer you a loan at a lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least

Time in Business

PNB offers loans at lower rates if you have significant business experience. Minimum business existence to get a business loan from PNB is 12 months.

Lowest PNB Business Loan Interest Rates

Currently, the lowest business loan rate offered by PNB starts at 12.65%. There has been no change in the lowest interest rate of PNB business loan interest rate for a long time and the interest rate continues to be in the range of 12.65% to 15.65%.

PNB Business Loan Rate Trends of Last 1 Year

Last Updated Date Interest Rates
09 Jun, 2021 12.65%
31 Mar, 2021 12.65%
25 Mar, 2021 12.65%
07 Jan, 2021 12.65%

PNB Business Loan Eligibility Criteria

To avail PNB business loan, you need to fulfill the eligibility criteria as mentioned below:

  • Age : PNB offers business 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, PNB gives you loan amount 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 : PNB requires profit for minimum 2 years and minimum business turnover of ₹ 0.
  • Business Stability : PNB requires a minimum business track record of 12 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 a loan.
  • ITR and Banking : PNB gives loan only after checking your income tax return and bank statements. The bank requires you to submit your ITR details and bank statements for a minimum of 12 months & 12 months respectively.
  • CIBIL Score : PNB will check your repayment history for all current and past loans and credit cards. The Bank advises you to maintain a score of 750 and above to get loan approval.

PNB 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
  • Get finance up to ₹ 25,000 to setup new unit or enterprise
  • Preference will be given to ST/ SC/ BPL segment
PNB Green Ride
  • 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
PNB Sanjeevani
  • Get maximum loan up to ₹ 5 crores
  • Overdraft facility available for loan amount above ₹ 1 crore
  • 20 percent discount on processing fee for online loan application cases
Super Trade
  • Get cash credit facility
  • High loan amount of ₹ 5 crore
PNB Professional Scheme
  • Loan repayment up to a maximum period of 7 years
  • Overdraft facility for service providers and cash credit facility for manufacturers
Mudra Loans
  • Get maximum loan up to ₹ 10 lakhs
  • Activities allied to Agriculture excluding crop loan and land improvement loan are eligible for this loan

PNB Business Loan Fees and 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 for PNB Business Loan

To apply for PNB business loan, you need to submit the following documents:

  • 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

PNB Business Loan Eligibility Calculator

You can calculate your eligibility for PNB business loan using an online PNB business loan eligibility calculator. It is an online tool that gives you an estimate about your loan eligibility, amount of loan and the best interest rate offer you can avail. It calculates the business loan eligibility on multiple factors. These factors include age, loan amount, loan tenure and Income etc. to calculate the loan amount eligibility of its borrowers.

How to Apply PNB Business Loan Online at MyLoanCare?

  • In order to get the best offers on a business loan and compare PNB business loans with other banks, you can apply online through MyLoanCare here.  
  • MyLoanCare will give you a detailed comparison of business loan schemes of all banks, calculate your business loan eligibility and connect you to the customer representatives of the  PNB.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

FAQs

Why to take business loan from PNB?

PNB is one of the largest Public Sector Bank sector banks in the country that provides lowest business loans starting at 12.65%. The bank also charges a low processing fee starting from 1.8% + taxes. Along with that, the bank also offers special business loan schemes such as PNB Vanita, PNB Green Ride & PNB Sanjeevani etc.

Has PNB reduced the business loan interest rate?

Currently, the lowest business loan rate offered by PNB starts at 12.65%. There has been no change in the lowest interest rate of PNB business loan interest rate for a long time and the interest rate continues to be in the range of 12.65% to 15.65%.

What is the interest charged on PNB business loan?

PNB offers business loans at attractive rates ranging from 12.65% to 15.65%.The bank also provides various customised offers for self employed professionals to get loan at a 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.You can calculate your EMI on business loan for different tenures at min business rate starting at 12.65% using MyLoanCare business loan EMI calculator.

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 60 months.

How much business loan amount I can borrow from PNB?

PNB offers you business loan for loan amount ranging from ₹ 50,000 to a maximum amount of ₹ 15 Lakh. Loan amount eligibility in PNB further depends upon your income, and repayment capability.

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

PNB charges a processing fee 1.8% + taxes with applicable tax.The processing can be negotiated if you are an existing customer or have a good track record.

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

Yes, age is an important eligibility factor to get a business 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 prepayment 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.

What are the business products offered by PNB?

PNB offers various business products for self-employed professionals and non-professionals. These are listed below:

  • PNB Vanita
  • PNB Green Ride
  • PNB Sanjeevani
  • Super Trade
  • PNB Professional Scheme
  • Mudra Loans

What is the time period of repayment of business loans in PNB?

PNB provides business loans for a maximum tenure of 60 years. You must repay your loan at the end of this loan tenure to avoid any late payment penalty.

PNB Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 011-23318130
Ahmedabad 011-23318130
Ambala 011-23318130
Anand 011-23318130
Aurangabad Bihar 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 - Jul 2021
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
  • 2021-06-30 : PNB to restructure loans worth Rs 6000 crores
    Under restructuring 1.0, Public sector lender Punjab National Bank (PNB) received requests for restructuring Rs 11,000 crore in corporate, retail, and MSME loans. Under the Reserve Bank of India (RBIs) restructuring 2.0 window, PNB expects to restructure loans worth Rs 5,000-Rs 6,000 crores as the impact of the second wave of the Covid-19 pandemic fades.
  • 2021-02-08 : PNB reported net profit of 506 crores
    PNB posted an 18.5% year-on-year decline in its net profit to Rs 506 crore for the quarter ended December. Further, the bank reported net interest income on the back of retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans at Rs 8,313 crore.
  • 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.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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