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PNB Personal Loan Calculator

PNB Personal Loan EMI Calculator, Jul 2021

Last Updated 15th Jul 2021

  • Personal loan EMI in PNB depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • PNB Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,073 per lakh on PNB Bank personal loan as calculated using the lowest interest rate of 8.95% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on PNB Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,743₹ 3,178₹ 2,073
₹ 5 Lakh₹ 43,714₹ 15,888₹ 10,367
₹ 10 Lakh₹ 87,428₹ 31,776₹ 20,734

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Personal Loan EMI Calculator PNB

PNB Personal Loan EMI is a fixed amount of money paid by you to PNB based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your PNB personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator PNB. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use PNB Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for PNB personal loan which can range between 8.95% to 14.50%.
  • Compare PNB personal Loan EMI: Helps you compare the estimated EMI on a personal loan from PNB with that of leading banks in India using the same loan amount of upto ₹ 15 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on PNB personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from PNB over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at PNB or balance transfer to another bank.

PNB Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on PNB Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of PNB Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 8.95%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right PNB personal loan plan for you.Personal Loan EMI is calculated for PNB for different loan amounts and tenures at the rate of 8.95%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,566 ₹ 3,178 ₹ 2,073
3 Lakh ₹ 13,699 ₹ 9,533 ₹ 6,220
5 Lakh ₹ 22,831 ₹ 15,888 ₹ 10,367
10 Lakh ₹ 45,662 ₹ 31,776 ₹ 20,734

Factors Affecting PNB Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. PNB gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 15 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. PNB personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by PNB is 8.95%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in PNB. So, your EMI will be lower if you take a 60months loan from PNB as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of PNB Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
PNB8.95% ₹ 8,743 ₹ 43,714 ₹ 87,428
Allahabad Bank 9.05% ₹ 8,747 ₹ 43,737 ₹ 87,475
Indian Bank 9.05% ₹ 8,747 ₹ 43,737 ₹ 87,475
Karur Vysya Bank 9.40% ₹ 8,764 ₹ 43,819 ₹ 87,637
Bank of Maharashtra 9.55% ₹ 8,771 ₹ 43,853 ₹ 87,707

PNB Personal Loan Amortization Calculator

PNB Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. PNB gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3 Lakh for 5 years from PNB at an interest rate of 8.95%. EMI calculated for this loan amount is ₹ 6,220 and the total annual EMIs to be paid annually is ₹ 74,643. The EMI schedule of loan for 5 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3 Lakh over the 5 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 12,975 ₹ 24,346 ₹ 37,321 ₹ 2,75,654
2022 ₹ 22,569 ₹ 52,073 ₹ 74,643 ₹ 2,23,580
2023 ₹ 17,713 ₹ 56,930 ₹ 74,643 ₹ 1,66,650
2024 ₹ 12,403 ₹ 62,240 ₹ 74,643 ₹ 1,04,410
2025 ₹ 6,598 ₹ 68,044 ₹ 74,643 ₹ 36,366
2026 ₹ 955 ₹ 36,366 ₹ 37,321 ₹ 0

In the above illustration, on a PNB Personal Loan of₹ 3 Lakh, taken at the lowest interest rate of 8.95, EMI paid is ₹ 6,220 and an annual total of EMIs is ₹ 74,643, the interest component is ₹ 24,840 while the principal component is ₹ 49,803 in year 1 of loan disbursement. You repay only 16.6% of the total principal after paying 12 EMIs during the first year.

PNB Personal Loan Interest Calculator Formula

PNB calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how PNB Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.PNB personal loan amount can range from ₹ 50,000 to ₹ 15 Lakh.

r = Rate of interest per month. The current PNB Personal Loan rate is 8.95%.
n = Tenure in month. This can range up to 60months in case of PNB.

How to use PNB Personal Loan EMI Calculator

  • PNB personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • PNB EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

PNB Personal Loan EMI for ₹ 1 Lakh

The following table shows PNB Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 8.95%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,0008.95% 1₹ 8,743
₹ 1,00,0008.95% 2₹ 4,566
₹ 1,00,0008.95% 3₹ 3,178
₹ 1,00,0008.95% 4₹ 2,486
₹ 1,00,0008.95% 5₹ 2,073

PNB Personal Loan EMI for ₹ 3 Lakh

The following table shows PNB Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 8.95%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,0008.95% 1₹ 26,228
₹ 3,00,0008.95% 2₹ 13,699
₹ 3,00,0008.95% 3₹ 9,533
₹ 3,00,0008.95% 4₹ 7,458
₹ 3,00,0008.95% 5₹ 6,220

PNB Personal Loan EMI for ₹ 5 Lakh

The following table shows PNB Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 8.95%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,0008.95% 1₹ 43,714
₹ 5,00,0008.95% 2₹ 22,831
₹ 5,00,0008.95% 3₹ 15,888
₹ 5,00,0008.95% 4₹ 12,431
₹ 5,00,0008.95% 5₹ 10,367

PNB Personal Loan EMI for ₹ 10 Lakh

The following table shows PNB Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 8.95%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,0008.95% 1₹ 87,428
₹ 10,00,0008.95% 2₹ 45,662
₹ 10,00,0008.95% 3₹ 31,776
₹ 10,00,0008.95% 4₹ 24,861
₹ 10,00,0008.95% 5₹ 20,734

How to Pay PNB Personal Loan EMI?

There are various online & offline methods to pay your PNB Personal Loan EMI. To repay your PNB EMI online, you can log in to your net banking account or else you can also use the mobile banking of PNB. PNB also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest PNB branch.

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FAQs

Why should I calculate PNB loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your PNB personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have a surplus amount

What is the lowest EMI per lakh offered by PNB on a personal loan?

PNB offers a personal loan at a 8.95% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,073. However, PNB may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre-close PNB personal loan?

You can pre-close your PNB personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on PNB ?

PNB offers you an option of prepayment after 0 months at Nil prepayment charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from PNB?

Yes, PNB charges a certain amount of processing fee to process your loan application. Currently, PNB charges a processing fee of 1.8% + Taxes on a Personal Loan.

Will I get a personal loan from PNB if I have a bad credit score?

No, for taking a loan from PNB, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high PNB personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in PNB Bank?

At the current rate of 8.95%, EMI on PNB personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,46,281, ₹ 2,58,120 and ₹ 2,95,294 respectively.

Can I have a co-applicant while applying for a Personal loan with PNB ?

Yes, you can opt for a co-applicant to take a personal loan from PNB that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in PNB personal loan?

If you have funds, then you can pay more than the regular EMI on your PNB Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my PNB loan EMI?

You can pay the PNB personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

PNB Personal 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

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PNB Personal 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.
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