Avyud Finance
☰

Purpose for Car Loan

Buy New Car
Buy Two Wheeler
Loan against Car
Buy New Tractor
Buy Commercial Car
Call Now Enquiry Now
INTERESTED?
WE’LL CALL YOU RIGHT BACK
Call Now
Enquiry Now

PNB Car Loan in Purnea, Bihar

Punjab National Bank customers can avail car loans at affordable interest rates starting from 7.55%. The repayment period for a car loan can range from 1 year and 7 years. The interest rate charged takes into account various factors such as the loan amount, repayment tenure, whether the customer is buying a new car or a pre-owned car, and their credit score. Punjab National Bank used car loan can also be availed.





EMI Calculator

₹ 

500000

36

 months

10

 %

Monthly EMI

₹ 

₹ 32,124.56

Total Interest

₹ 

10,622.78

Principal Amount

₹ 

500000

Payable Amount

₹ 

160,622.78

Created with Highcharts 4.1.3 EMI Calculator Loan : 93.4 % Interest : 6.6 %
Pay
No.		 Begining Balance EMI Principal Interest Ending Balance
1 150000.00 32124.56 28637.06 3487.50 121362.94
2 121362.94 32124.56 29302.87 2821.69 92060.07
3 92060.07 32124.56 29984.16 2140.40 62075.91
4 62075.91 32124.56 30681.30 1443.26 31394.61
5 31394.61 32124.56 31394.64 729.92 -0.03

PNB Car Loan Important Information

PNB car loans are offered to the salaried and self-employed people at interest rates starting from 7.55% with a repayment tenure of up to 7 years.


PNB provides loan for the following vehicles:

  • New Car/Van/Jeep/Multi Utility Vehicle (MUV) or Sports Utility Vehicle (SUV).

  • Used Car/Van/Jeep/MUV/SUV, not more than three years old and unencumbered (ie not financed by other banks/financial institutions as on the date of loan).

  • Reimbursement of cost of New Car/Van/Jeep/Multi Utility Vehicle (MUV) or Sports Utility Vehicle (SUV) purchased by individual/corporate from own funds. (not older than 3 months).



Eligibility Criteria for PNB Car Loan

  • For personal use only.

  • Individuals and joint borrowers are also eligible, i.e. parents/spouse/earning children.

  • Business concerns (corporate or non-corporate). Company/Firm having been in cash profit for the last two years

  • For reimbursement of cost of new vehicle purchased by individual/corporate from own funds.

  • Existing customers with satisfactory track record viz. All loan accounts are running regularly with irregularities in inspection.

  • Bought the car with his own funds. For this purpose, documentary evidence of payment made from own sources viz. Statement of account or any other document and invoice from the dealer should be independently verified

  • The challan date of the vehicle is not more than 3 months old.





Documents Required for PNB Car Loan

  • Age proof.

  • Address Proof.

  • Quotation from authorized dealer for vehicle to be purchased.

  • Proof of income of spouse/parents/earning children, whichever is applicable, where the same is to be considered for determining loan amount.

  • Guarantor Detail with all supportive papers and photo, if applicable

  • Statement of Assets and Liabilities with supportive documents.

  • Any other document/paper which may be necessary as per requirement of the case.





Fees & Charges for PNB Car Loan

  • Processing Fees: 0.25% of Loan amount (Minimum – Rs. 1000/- Maximum Rs. 1500/-)

  • Documentation Charges: NIL

  • Lowest EMI per lakh: Rs.802 (At 9.25% p.a. fixed interest rate for a 7-year tenure)

  • Proposed inspection charges: Nil

  • Prepayment charge


  • Floating rate: Nil


  • Fixed rate: 2% of the outstanding pre-paid




FAQ for PNB Car Loan

    Who is eligible for a car loan?

    All individuals or joint borrowers. business concern.

    How long does it take to get a home loan approved?

    Within 3 days after submission of all required documents.

    What is the maximum loan term?

    The maximum loan tenure is 7 years or up to the age of 70 years in case of salaried individuals and 65 years for other than salaried individuals. No age limit for loan to business establishment.

    What is the margin requirement?

    For purchase of new car - 15% of on-road price and 10% of on-road price in case of tie up with car manufacturer/dealer. For used vehicles - 25% of the on-road price

    What are the documents required for a housing loan?

    Valid KYC document i.e. Voter ID, Aadhar Card, PAN Card, or any other valid ID/Address proof. Income proof i.e. ITR of last three years, latest salary slip in case of salaried person. The detailed checklist may be made available on the specific request of the applicant on his email id.