Punjab National Bank - Car Loans
Features of Car Loans:
- Competitive interest rates
- Flexible repayment options
- Quick loan approval process
- No prepayment charges
Eligibility Criteria:
- Minimum age: 21 years
- Maximum age: 65 years
- Salaried individuals, self-employed professionals, and businessmen are eligible
Documents Required:
- Proof of identity (Aadhar card, Passport, Driving License, PAN card)
- Proof of residence (Utility bills, Passport, Aadhar card)
- Income proof (Salary slips, ITR, Bank statements)
- Car documents (Invoice, Registration certificate)
Loan Amount and Tenure:
The loan amount can vary based on the car's value and the borrower's eligibility. The repayment tenure can range from 1 to 7 years.
How to Apply:
Visit your nearest Punjab National Bank branch or apply online through the bank's website. Fill out the application form and submit the required documents for verification.
Customer Support:
For any queries or assistance regarding car loans, you can contact Punjab National Bank's customer support at 1800 180 2222.
Punjab National Bank Car Loans - FAQs
1. What are the eligibility criteria for availing a car loan from Punjab National Bank?
The applicant must be a minimum of 21 years old and a maximum of 70 years old. They must have a regular source of income to repay the loan.
2. What is the maximum loan amount that can be availed for purchasing a car?
The maximum loan amount that can be availed for purchasing a car is up to 85% of the on-road price of the vehicle.
3. What is the repayment tenure for Punjab National Bank car loans?
The repayment tenure for car loans from Punjab National Bank can go up to 7 years depending on the loan amount and the applicant's profile.
4. What is the interest rate for car loans from Punjab National Bank?
The interest rate for car loans from Punjab National Bank starts from 7.30% onwards, depending on the loan amount and tenure.
5. Is there a processing fee for availing a car loan from Punjab National Bank?
Yes, Punjab National Bank charges a processing fee of up to 1% of the loan amount, subject to a minimum and maximum cap.
