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PNB Business Loan Interest Rate Dec 2018

Last Updated 07th Dec 2018

PNB Business Loan Interest Rates India

PNB offers Business Loan starting at interest rate of 12.65%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

PNB Business Loan Features
PNB Business Loan Rate
Loan for Self Employed Features
Processing Fee 1.8% + taxes
Tenure From 12 months to 60 months
Lowest EMI per lakh Rs. 2,257
Loan Amount Min Rs. 50,000 and Max Rs. 15 Lakh
Part Prepayment, Charges Nil prepayment charges
Early Foreclosure, Charges Nil prepayment charges
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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 3.6/5.0 by customers for its service quality on MyLoanCare
  • PNB has over 6,352 branches in India where you can avail service
Compare Business Loan Rates of All Banks in India

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 Rs. 50,000 to upto Rs. 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 Rs. 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 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 Rs. 0
Business Existence (in months) 0 months
ITR (months) 0 months
Loan Amount Rs. 50,000 to Rs. 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 Rs. 50,000 to Rs. 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 Rs. 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 Rs. 2,257 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 Rs. 2,257 per Rs. one lakh loan amount. At an interest rate of 15.65% for the same loan, the EMI will be Rs. 2,413 .
  • 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 Rs. 8,915 to Rs. 2,257 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 Rs. 50,000 , the EMI at 12.65% for 60 months would be Rs. 1,129 . Similarly for amount borrowed Rs. 15 Lakh, the EMI at 12.65% for 60 months would be Rs. 33,861 .
PNB Business Loan EMI Calculator
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

Compare PNB Business Loan with other banks

FAQs on Business Loan PNB

Why to take business loan from PNB ?

Bank offers loan at 12.65% rate with the lowest EMI of Rs. 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 Rs. 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 60 months.

How much business loan amount I can borrow from PNB?

PNB offers you loan if you need a minimum amount of Rs. 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 .

COMPARE Business Loan DETAILS OF BANKS
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 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
Sonepat 011-23318130
Surat 011-23318130
Trichy 011-23318130
Udaipur 011-23318130
Vadodara 011-23318130
Varanasi 011-23318130
Vijaywada 011-23318130
Vizag 011-23318130
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PNB Business Loan News - Dec 2018
  • 2018-09-03 : PNB keeps MCLR rates unchanged for September
    Punjab National Bank (PNB) has maintained its MCLR for the month of September. The rates continue to be in the range of 7.90% to 8.60%. Six-month MCLR is at 8.40% and that of one year is 8.45%. The rates are effective from September 1, 2018.
  • 2018-08-01 : PNB Bank maintains MCLR
    PNB Bank has maintained its MCLR for the month of August. The rates continue to be in the range of 7.90% and 8.60%. Six month MCLR is now at 8.40% and that of one year is 8.45%. PNB discontinued the slab of five years. The rates are effective from August 1, 2018.
  • 2018-06-28 : PNBHFL more profitable than PNB
    PNB Housing Finance Ltd. has stood to be more valuable than Punjab National Bank, the parent whose market-capitalisation has fallen drastically after it reported a Rs 14,000-crore fraud. PNB had reported its biggest-ever quarterly loss at Rs 13,417 crore in the quarter ended March, while the assets under management and profit of PNB Housing Finance have grown over 40% each in the fourth quarter.
  • 2018-04-11 : State Bank of India, Punjab National Bank to sell 15 NPAs worth Rs 10.63 bn
    Leading lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put together 15 non-performing assets for sale. These NPAs amount to Rs 10.63 billion SBI NPAs makes a total of 12 accounts worth Rs 8.48 billion for sale while the second largest public sector lender PNB has three NPA accounts worth Rs 2.14 billion outstanding for sale to other financial institutions.
  • 2018-01-05 : PNB waives documentation and other charges
    As part of its New Year Bonanza, PNB has fully waived documentation and processing fee requirement for housing, car and two wheeler loans. The offer is available till end of the current fiscal.
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