PNB customers can borrow Rs 8 lakh instantly; here’s how

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Representative image. Wikimedia Commons

The Punjab National Bank (PNB) offers its customers the option of easily obtaining a loan of Rs 8 lakh. The lender said if you want a low interest personal loan, you can apply for their Insta loan. You can visit the official website of PNB for more information. A pre-approved personal loan is usually provided by banks to existing customers who have a good track record of paying dues, income, and banking relationships. It is often granted at attractive interest rates. It can also be offered when the customer has no credit history based on parameters such as income and transaction history. One can apply for the pre-approved personal loan by visiting this PNB webpage at https://instaloans.pnbindia.in/home#. All one has to do is enter his phone number and Aadhaar number.

One can pay the loan in equal monthly installments (EMI). You will pay a loan via a standing instruction (SI) to debit your PNB account for the EMI amount on a given date. You can also directly transfer the funds to your pre-approved personal loan. Standing instruction mandate is one of the modes that can be used to repay a loan, in which your PNB savings account is directly debited with EMI amounts, based on your specific instructions.

According to the PNB website, “The pre-approved personal loan processing fee is 0.50% of the loan amount including all fees with min. Amount of Rs.500/+TPS including all fees and stamp duty”. Fees include initial fee, stamp duty, documentation fee, CIC fee and other fees.

The pre-approved personal loan offered by PNB is a hassle-free process. It requires minimal digital documentation (NeSL) for loan approval and disbursement. Pre-approved personal loan customers benefit from a flexible repayment scheme that allows them to choose the term and amount. This program will surely bring a festive touch to PNB customers.

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