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We live in a day & age wherein savings at times are not enough. In times like these, a personal loan is what you require. PNB Personal loan is one of the offerings from the bank that is catered towards government employees as well.
PNB Personal Loan is one of the best options for you when it comes to sorting your personal finances out with dire needs. Salaried or self-employed or government employees or any other professional, may need the funds when it comes to unannounced emergencies.
A PNB Personal loan helps you with the funds you need for a short duration. A personal loan is a loan that you can get for yourself with quick & easy steps. PNB Personal loans are unsecured in nature. They do not need any assets to be kept aside as collateral. In addition to this, there is no restriction on how the borrowed amount should be spent. PNB Personal Loan does not have any pre-payment charges. A pre-payment charge is applied to your funds in a case wherein you repay the funds that you have borrowed well in advance before the due date.
The rate of interest for the PNB Personal loan starts at around 8.95%. There is a processing fee that is applied to the PNB Personal Loan that you are borrowing. It is charged at the rate of 1% of the principal amount that you are borrowing.
In order to avail of the PNB Personal loan, you should fit the criteria for it.
The criteria for the PNB Personal Loan are as follows:
- Age is a case & type of loan dependent criteria. For a personal loan, a credit score is required. A credit score essentially is an evaluation metric that helps lenders judge your capacity to repay the loan & pay the interest on time. The individual applications can be employed or self-employed.
- The minimum income criteria has no static figure. However, it depends on a case by case basis & the occupation of the applicant who requires the said PNB Personal Loan.
- In personal loans, in order to create a sense of trust & to get a feel for the stability, an ideal work experience is sought for. It is for 3 years minimum.
Since a personal loan is an important exchange of finances. It requires certain documentation. This documentation is to verify your personal details. The documents that are required are a PAN Card, a proof of identity like an Aadhaar card, Passport, Voter ID, or a driving license. An address proof is also a must. Address proofs can be anything from a bank statement, electricity bill, telephone bill, ration card, passport, sale deed, registration deed, property purchase documents, driver’s license, etc.
A proof of income in the form of salary slips, returns generated from IT, and bank account statements are required. PNB Personal loans for government employees are easy to avail & the process is quite simple. But before one opts for availing, they should look through the offers & understand them.
