PNB Car Loan Rate, Eligibility Calculator, Apply Online

PNB Car Loan Offer Feb 2017

Last Updated 22nd Feb 2017
Features and Eligibility PNB New Car Loan Scheme PNB Used Car Loan Scheme
Interest Rates 9.60% Floating Check Special Offer 11.20% Floating
Maximum Loan Amount Eligibility 85.00% of on-road price 70.00% of market value
Maximum Loan Tenure (years) 7 years 5 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1,640 Rs. 2,105
Processing Fee 1.00% Max Rs. 6000 1.00% Min Rs. 0 Max Rs. 6000
Prepayment Charges Nil Nil
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 65 years Between 21 years and 65 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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Eligibility Condition for PNB Car Loan

PNB New Car Loan Scheme PNB Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 2.4 2.4
--Self employed professionals 2.4 2.4
--Self employed businessmen 2.4 2.4
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on PNB Car Loan

How much interest is charged by PNB on car loan?

PNB offers an interest of 9.60% to 9.95% on car loan.

What is the lowest EMI per lakh on PNB car loan?

If you apply for a car loan from PNB, your lowest EMI per lakh will be Rs. 1,640.

What is the maximum tenure of PNB car loan?

You can repay your car loan from PNB in a flexible period of maximum 7 years.

How much car loan I can borrow from PNB?

PNB offers you 85.00% of of on-road price of car as loan.

How much processing fee is charged by PNB on car loan?

PNB charge a processing fee of 1.00% with applicable service tax.

Is age an eligibility factor to get car loan from PNB?

Yes, age is an important eligibility factor to get PNB car loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

Are there any prepayment charges on PNB car loan?

You can take car loan from PNB with Nil prepayment charges.

Can I add my spouse's income while applying for car loan from PNB?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
PNB Car Loan Calculator News - Feb 2017
08th Feb 17 PNB registers a four times growth in its net profit in third quarter of FY17
Punjab National Bank has reported a four times growth in its net profit at Rs. 207 crores during third quarter of FY17 as compared to Rs. 51 crores for the corresponding period a year ago. Provisions for bad loans of the bank have reduced by 22 percent to Rs. 2,936 crore during the quarter on a year on year basis.
21st Jan 17 PNB to offer technology platform for pilot launch of India Post Payments Bank (IPPB)
Punjab National Bank will provide a technology platform to a new bank India Post Payments Bank (IPPB) for its pilot launch. IPPB received the certificate of incorporation to set up a new bank from registrar of companies last year. The bank will be headquartered in New Delhi and plans to launch 650 branches across the city during the year.
02nd Jan 17 PNB reduces MCLR by 70 basis points
Punjab National Bank has reduced its overnight and three month marginal cost of lending rates by 70 basis points to 8.20 and 8.25 percent as compared to 8.90 and 8.95 percent earlier. The revised MCLR for six months and one year now stands at 8.40 and 8.45 percent respectively. Similarly, five year MCLR has reduced to 8.75 percent as compared to 9.45 percent earlier. The rates are effective from 1st January, 2017.
09th Dec 16 PNB organizes financial literacy cum Digital Banking camp
Punjab National Bank organised an awareness camp on Digital Banking. The camp was held at the branch of village Kotli Jabowal, Arnia on Indo-Pak border. The focus of the camp was to spread awareness about the benefits of opening a saving account and using digital banking applications.
07th Dec 16 PNB partners with Ola to deploy mobile ATMs
Punjab National Bank has announced partnership with Ola (Cab aggregators) to facilitate cash withdrawal to citizens via mobile ATM machines. The bank will deploy mobile ATM machines in Ola cabs that will initially target the area around Delhi and NCR.
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