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Punjab National Bank Business Loan
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Punjab National Bank Business Loan
Interest Rate
8.15% - 15%
Loan Amount
₹50K - ₹15L
EMI Per Lakh
₹2,035 - ₹2,379
Processing Fees
Pre-Payment Charges
Features and Benefits of Punjab National Bank Business Loan
Given below are some of the features and benefits of Punjab National Bank Business Loan:
- You can check your eligibility instantly on the official website, and the loan amount is disbursed quickly in a matter of 3 to 4 days
- If the loan amount is not sanctioned, the upfront fee or processing fee paid at the time of loan application will be refunded
- Online loan applications for MSMEs get a 20% discount in terms of processing fee
- Punjab National Bank business loans have flexible tenures ranging from 12 months to 60 months
- There is a minimal documentation requirement to avail a Punjab National Bank business loan
- You can transfer any existing business loan to Punjab National Bank to lower your monthly payments and save on interest
- This loan does not require any collateral or guarantor for loan amounts up to Rs. 1 crore
- Minimal prepayment charges
- All loan amounts are covered under the umbrella of insurance in case of the death of the borrower.
- Zero hidden costs
Punjab National Bank Business Loan Overview
Punjab National Bank Business Loan is one of the most sought-after loan offerings for various different business entities owing to the high disbursal amount, the simplified application process, nominal interest rates, and flexible loan tenures. These loans have low processing times and competitive terms and are tailor-made to suit the needs of each borrower. These loans are offered for various purposes, including business expansion, working capital requirements, hiring staff, purchasing machinery, and purchasing commercial property. In this piece, we will take a look at this business loan in detail.
Punjab National Bank offers business loans of amounts ranging from Rs. 5 lakhs to Rs. 15 lakhs. These loans are offered to both businesses and self-employed applicants. One can obtain this loan at interest rates starting at 12.60% per annum. This loan can be obtained for flexible loan tenures ranging from 12 months to 60 months. This is a fixed-interest rate loan, which means that the interest rate remains unchanged throughout the tenure of the loan. The borrower can easily repay the loan in easy monthly instalments via PDC, ECS, or auto-debit.
Documents Required for Punjab National Bank Business Loan
Punjab National Bank offers a suite of business loan options to its customers. Every option has a different eligibility and documentation criteria. Given below are the common set of documents required for any of the business loan schemes:
- Duly filled loan application form along with passport-sized photographs
- PAN card for the business
- Address and Identity proof, such as Passport, Driver’s License, Voter ID card, Aadhaar Card, etc
- Certificate of Business Incorporation
- Bank statements from the last 12 months
- P & L statement, balance sheet, sales tax returns, and ITR from the previous two years
- Any other document as demanded by the lender
How is the EMI for a Business Loan Calculated?
Given below is the formula to calculate the EMI for a business loan from Punjab National Bank:
E= P*r*(1+r)n/(1+r)n-1
In this formula,
- E stands for the EMI amount
- P stands for the principal amount
- r stands for the applicable interest rate
- n stands for the tenure of the loan
How Does Punjab National Bank Business Loan Compare to Other Lenders?
The table given below shows how the business loan offered by Punjab National Bank compares to other loan offers in the market:
Bank/NBFC | Interest Rate |
HDFC Bank | 10.00% – 22.50% p.a. |
Hero FinCorp | Up to 26% p.a. |
FlexiLoans | 1% per month onwards |
NeoGrowth Finance | 19% – 24% p.a. |
ZipLoan | 1% – 1.5% per month (Flat ROI) |
Tata Capital Finance | 19% p.a. onwards |
Axis Bank | 14.65% – 18.90% p.a. |
Lendingkart Finance | 1.5% – 2% per month |
IDFC First Bank | 14.50% onwards |
Indifi Finance | 1.5% per month onwards |
Kotak Mahindra Bank | 16% – 19.99% p.a. |
ICICI Bank | 17% p.a. onwards |
Fullerton Finance | 17% – 21% p.a. |
RBL Bank | 17.50% – 25% p.a. |
Bajaj Finserv | 15% – 25% p.a. |
Punjab National Bank Business Loan Customer Care Number
In case you have any doubts or queries regarding a business loan from Punjab National Bank, you can get in touch with the bank using the following methods:
Toll-free Numbers | 1800-180-2222
1800-103-2222 |
Tolled Number | 0120-2490000 |
Landline Number | 011-28044907 |
Email ID | care@pnb.co.in |
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Business Loan By Banks
- Bank of Baroda Business Loan
- Axis Bank Business Loan
- HDFC Bank Business Loan
- ICICI Bank Business Loan
- Bajaj Finserv Business Loan
- IndiaBulls Business Loan
- Canara Bank Business Loan
- Union Bank of India Business Loan
- DHFL Business Loan
- CITI Bank Business Loan
- YES Bank Business Loan
- Federal Bank Business Loan
- IndusInd Bank Business Loan
- State Bank of India Business Loan
- Hero FinCorp Business Loan
- IDFC FIRST Bank Business Loan
- IDBI Bank Business Loan
- Digikredit-SME Corner Business Loan
- Kotak Bank Business Loan
- Lending Kart-Nbfc Business Loan
- Ujjivan Small Finance Bank Business Loan
- Muthoot Finance Ltd Business Loan
- Shriram Urban Co Operative Bank Limited Business Loan
- Tata Capital Housing Finance Limited Business Loan
- HDFC Sales Business Loan
- Capital First Ltd. Business Loan
- Poonawalla Fincorp Limited Business Loan
- Tata Capital Financial Services LTD Business Loan
- Clix Capital Business Loan
- Aditya Birla Finance Limited Business Loan
- L&T Finance Business Loan
- HSBC Business Loan
- Bank of India Business Loan
- Fullerton India Business Loan
- NeoGrowth Business Loan
- IIFL Finance Business Loan
- Piramal Housing Finance Business Loan
- Edelweiss Financial Services Business Loan
- INDIFI Business Loan
- INTELLEGROW Business Loan
- DCB Bank Business Loan
- Capri Global Business Loan
- UGRO Capital Business Loan
- RBL Bank Business Loan
- FT Cash Business Loan
- Loantap Credit Products Private Limited Business Loan
- Arka Fincap Limited Business Loan
- Deutsche Bank Business Loan
Punjab National Bank Quick Links
FAQs
From refinancing to reducing your interest, we have the answers right here.
What is the interest rate of a business loan in Punjab National Bank?
The interest rate for a business loan from Punjab National Bank starts at 12.60% per annum.
What are the benefits of a Punjab National Bank business loan?
Some of the benefits of a business loan from Punjab National Bank are quick loan processing, swift loan disbursal, flexible tenure, and high loan amount.
Does Punjab National Bank have a fixed rate of interest for its business loans?
Yes, Punjab National Bank has fixed interest rates for its business loans starting at 12.60% per annum.
Does Punjab National Bank check for CIBIl score while processing a business loan?
Yes, PNB checks for the applicant's credit score while processing the business loan. The bank usually prefers applicant’s with scores over 650.
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