PNB Car Loan

PNB Car Loan Key Features – newOct 19 2021

About PNB Car Loan

PNB provides Car Loan who wants to buy a Car. It offers you flexible repayment options. Also, provides Lowest Interest Rate for a Car Loan for the higher loan amount.

PNB offers Car Loan at reasonable rates of interest to the customer for buying a car either new or second hand. A car loan is easily available which can be got by anyone with a good credit/CIBIL score.

Advantages of PNB Car Loan

PNB Car Loan Eligibility

PNB Car Loan Interest Rates, Fees and Charges

How to Increase Your Eligibility for PNB Bank Car Loan

• Opt for a shorter tenure: When you opt for a shorter tenure to repay the money, the EMI you will pay each month will be higher in PNB. This will be an indication of your higher repayment capacity for the PNB Car Loan, which will build a sense of confidence in you.
• Keep your credit score in check: If you wish to increase your Eligibility for Car Loan for a PNB car loan, ensure that you have a credit score of over 750. You can use the Free Credit Score tool to check and maintain such a healthy credit score for PNB Car Loan.
• Maintain a low debt-to-income ratio: A low debt-to-income ratio in PNB means you have a good balance between your earnings and your spending. This is because before PNB decide to lend to you, they will check the percentage of your earnings that goes into paying your debts, and a low debt-to-income ratio will indicate your high repayment capacity for PNB Car Loan.
• Apply for a loan for a lower amount: By applying for a loan for a lower amount, you can increase your eligibility for a PNB car loan. In addition, a lower loan amount means that the loan will be repaid faster; therefore, the chances of you being eligible for a PNB loan are higher.

PNB Bank Car Loan Interest Rates and Charges

PNB Bank Pre-Owned Car Loans Other Charges

Factors Affecting PNB Bank Car Loan Eligibility

The eligibility criteria for car loan for PNB Bank will depend on the below-given factors:

• Income: If your income is on the higher side, there is a good chance that your eligibility for a PNB car loan will be higher. This is because a higher income indicates a higher repayment capacity. To be eligible for a PNB car loan, your yearly income should be at least Rs.3 lakh.
• Loan amount: Your Eligibility Criteria for Car Loan from PNB will be higher if you apply for a lower loan amount as if the loan amount is lower, PNB knows that the loan will be paid off quicker. Hence, they will be more confident to give you the loan for PNB Car Loan.
• Repayment tenure: Choosing a longer repayment tenure can decrease your eligibility for a car loan in PNB. It might give an impression to the bank that you do not possess the ability to pay Your PNB loan.
• Credit score: This is an important factor that every bank, including PNB, considers when determining your car loan eligibility. A credit score of 750 and above is considered to be a healthy credit score by PNB and most lenders.
• Relationship with the bank: As stated earlier, PNB offers instant car loans to their existing customers, which allow PNB’s customers to avail a loan instantly, at their convenience, with very few List of documents required for a Car Loan.

PNB Bank Car Loan Customer Care – Toll-Free Number

PNB Bank 24*7 customer care toll-free number all your general enquiries is 1800 180 2222, 1800 103 2222. Tolled No. 0120-2490000 Landline: 011-28044907

PNB Car Loan Documents Required

Salaried Individuals

Self-Employed Individuals

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

2. Private Limited/Limited Companies

PNB Car Loan Pre Calculated EMI

How to Apply for PNB Car Loan?

1. Visit Dialabank and fill a form online.
2. Our Relationship Manager will call you who provides you guidance throughout the process.
3. You can compare various offers from banks and choose according to your suitability.
4. You can easily Apply For a Car Loan through Dialabank and enjoy the best offers.

Tips to Decide the Right Amount of EMI

• Ascertain the amount you need to borrow: It is important that before approaching PNB for a loan, you inform them about the amount of loan you need to borrow. Limit your PNB loan amount after accounting for your own available funds.
• Review your current obligations: Before taking a PNB loan, it is advisable to check your expenses, including any EMI obligations that you have on your current loans. This assessment will help you estimate the amount of EMI you will be able to pay comfortably for the PNB Loan after taking into account other obligations.
• Calculate your PNB car loan eligibility: Your PNB eligibility is an assessment of your repayment capacity based on your monthly income. PNB provides an LTV up to 100 % of the ex-showroom price and expects the borrower to fund the remaining value of the property with their own money.
• Multiplier-based loan amount eligibility: PNB also calculates your eligibility by applying a multiplier to your net take-home salary. This is the simplest method for calculating Your PNB loan eligibility.
• FOIR based loan amount eligibility: PNB will also estimate your Fixed Income to Obligations Ratio (FOIR) to find out the maximum EMI you can service based on your current income and other monthly expenses. PNB applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations in PNB or other banks to calculate your fixed obligations.

New Car Loan: Pre-owned Car Loan & Loan against Car

Pre-owned car loan

Are you in the market for a used car? PNB Bank offers pre-owned car loans ranging from 1 lakh to 85% of the value of the vehicle you choose to buy, all with low interest rates. You can expect a simple application form, fast approvals, and complete transfer assistance when you apply for a pre-owned car loan with PNB Bank.

Loan against Car

Is there anything you need money for right now? You can get a loan against your car that starts at 1 lakh and goes up to 50% of the car’s original loan value to meet your financial needs. PNB Bank offers our lucky customers one-of-a-kind pre-approved loan against the car deals with lightning-fast processing and limited paperwork.

Car Loan EMI – EMI Changes in Case of Prepayment

In case you prepay your loan for the vehicle, a small penalty is charged. Prepayment in PNB Bank is 5% from 13-24 months, 3% after 24 months. When you prepay, the outstanding balance on your loan for the vehicle reduces. PNB Bank provides you with two options:

• Reduce your loan tenure and keep EMI on your car loan unchanged: This alternative allows you to shut your loan prior and save the interest outgo associated with the remaining term. This is suitable for borrowers who feel that they have adequate income to continue servicing the same level of EMIs.
• Reduce the amount of EMI and keep your loan tenure the same: This option provides you to reduce your monthly EMI and hence, increases the availability of monthly surplus which you can deploy for other purposes. This is suitable for borrowers who anticipate higher monthly personal expenses and hence, would require to reduce their monthly EMI obligations.

PNB Bank Car Loan Processing Fees

The processing fees are not refundable. 1% of the loan amount subject to a minimum of Rs. 5000 and a maximum of Rs 10000.

How to Calculate EMI on PNB Bank Car Loan

Before an applicant avail of a car loan from PNB Bank, you may require to understand how much amount you will be paying towards the loan each month. This is simply known as EMIs or equated monthly instalments and it offers an easy way to repay your car loan. By calculating the EMI, you will be able to budget your monthly expenses finely.

One can easily calculate the EMI for your car loan by using the below-given formula:

E = P*r*[(1+r) ^n/((1+r) ^n-1)]

In the above formula, E denotes the EMI, P the principal amount, in the interest rate, and n the number of years or tenure of the loan.

One can also calculate the EMI by using the EMI Calculator tool wherein you just need to enter the loan amount, interest rate, repayment tenure, processing fee, etc. The tool will calculate the EMI and display it to you.

PNB Car Loan EMI Calculator

With this PNB car loan interest rate calculator, the applier has the option to check the EMI’s before getting a Car Loan. So, you can easily check through the link below:

Car Loan EMI Calculator

PNB Car Loan Types

PNB offers different types of car loans to its customers. You have the option of choosing the offer which suits your need the best. It offers the following types of Car Loans:

1. New Car Loan –  If you want to buy a new car, this is the scheme for you. You can get a Car Loan from PNB for a minimum of Rs. 2 lakh and a minimum tenure of 7 years.
2. Used Car Loan – If you want to buy a used car then you can choose to offer a minimum loan of Rs. 2 lakh and a minimum tenure of 5 years.
3. Loan Against Car – You can choose this scheme if you need urgent funds where you can keep your cars as security with the bank.

Compare PNB Car Loan with other Banks in India

PNB Car Loan for Top Selling Cars

Other Available Products from PNB

FAQs for PNB Car Loan

✅ What is PNB Car Loan?

PNB Car Loan is a car loan for you to purchase a new car and a used car as well.

✅ How can I get a Car Loan from PNB?

You can get a car loan from PNB by visiting the nearest branch of PNB. You will get the benefit to apply from anywhere.

✅ How does PNB Car Loan work?

PNB offers car loans at attractive interest rates. You can get a car loan easily and quickly. PNB Bank provides flexible loan tenure duration.

✅ What is the Car Loan Interest Rate in PNB?

The interest rate charged by PNB for a car loan starts at

7.35% per annum

✅ How to Check Car Loan status in PNB?

You must visit the PNB branch to examine your car loan status. Also, you can use the net-banking facility of PNB.

✅ How to Calculate Car Loan interest in PNB?

For the calculation of your car loan interest in PNB, the following information is required:

• Loan tenure
• Loan amount
• Interest rate

You can calculate your car loan interest and EMI from PNB through the EMI calculator.

✅ What is the maximum loan amount I can avail myself on Car Loan from PNB Bank?

You can avail of a maximum loan amount for a car loan from PNB is up to 100% of the Ex-showroom price or 85% of On Road Price.

✅ What is the loan tenure of the PNB Car Loan?

The loan tenure period for a car loan from PNB ranges between 1 to 7 years.

✅ Can I get a 100% Car Loan from PNB?

Yes, you can get a loan up to 100% of the Ex-showroom Price for a car loan from PNB.

✅ How much processing fee is applicable on PNB Car Loan?

PNB charged a processing fee is up to 0.40% of the loan amount or a Maximum of Rs. 6,000 for getting a car loan.

✅ What are the EMI options available on PNB Car Loan?

The EMI options available on PNB car loans are Step-up and Balloon EMI.

✅ What are the charges for Prepayment in PNB Car Loan?

PNB does not have any prepayment charges for availing of a car loan.

✅ Can I get a top-up loan on my existing PNB Car Loan?

Yes, you can get a top-up loan on your existing PNB car loan. Also, get a top-up car loan by visiting the online platform of Dialabank.

✅ Do I need to provide a guarantor to avail myself a car loan from PNB?

Yes, you can avail a guarantor for getting a car loan from PNB. It will increase your car loan eligibility.

✅ How to get a PNB Car Loan Statement?

For getting a car loan statement from PNB, you can utilize PNB Bank’s mobile banking app. Also, visit the nearest PNB branch.

✅ How to pay PNB Car Loan interest online?

You can pay your car loan interest through the net -banking services of PNB. If you want a low-interest car loan, you must visit Dialabank online.

✅ What if I can’t pay the interest on PNB Car Loan for 3 months?

If you can’t pay the interest on PNB Car Loan for 3 months, then it will be added to the outstanding loan amount and repayment charges will reframe.

✅ How can I apply for EMI Moratorium on PNB Car Loan?

You can apply for EMI Moratorium on PNB by visiting the nearby branch of PNB or you can submit a request through an email. Also, if you want relief for the balance duration, you must apply through Dialabank.

✅ What is the number for PNB Car Loan agent?

The number for the PNB Car Loan agent is 9878981166.

✅ Can I close the PNB car loan online?

You can close your car loan from PNB by using the net-banking page of PNB. You have to log in with your details on the net -banking page and pay your car loan.

✅ What is PNB Car Loan Customer Care Number?

The customer care number of PNB for car loan queries is 1800-103-2222.

✅ How can I get NOC from PNB for a car loan?

You can get a car loan NOC from PNB after the payment of your car loan.

✅ What is the PNB Car Loan closure procedure?

• Just go to the bank with the documents required for a car loan.
• Write a letter for pre-closure of the PNB Car Loan account.
• Pay the pre-closure charges as per PNB Car Loan.

✅ What are the PNB Car Loan preclosure charges?

PNB Car Loan preclosure charges are zero.

✅ What is the PNB Car Loan maximum tenure?

The PNB Car Loan maximum tenure is 7 years.

✅ What is the PNB Car Loan minimum tenure?

The PNB Car Loan minimum tenure is 1 year.