PNB Personal Loan Documents Required
- Copy of PAN Card (Mandatory).
- Proof of Identity: Passport/Driver License copy/Voter ID card/Aadhaar.
- Address Proof: Passport Copy/Driving license/Voter ID card/Aadhaar, copy of latest utility bill, copy of LPG book, etc.
- Proof of End Use (as per wariness of Bank of Baroda).
- Affirmed Bank proclamation of most recent 3 months (Passbook of the last 6 months)
- Last 2 payslips/Latest wage certificate for the most recent Form 16 form
Note: Additional documentation based on the applicant’s profile, may also come under the PNB Personal Loan Documents Required category.
Important Aspects
The following tips could help you increase your chances of approval for a PNB personal loan:
- Building and maintaining a good Credit Score: Building and maintaining a stable credit record and a decent credit score make it possible for you to use a personal loan as it demonstrates better creditworthiness and lowers default risk.
- Knowledge of the lender’s eligibility criteria: If you know and meet all the qualifying requirements, you will increase your odds of obtaining a personal loan with greater ease.
- Low credit utilization ratio: Credit usage levels are defined as the ratio of the volume of credit used to the total credit cap. Maintaining a low credit usage level (usually 30% or below) implies lower credit dependency and higher creditworthiness, making it easier for you to take advantage of extra credit.
- Steady job and stable history of employment: If you have a secure career (with a respectable organization) and a reliable work background, you can use a personal loan more effectively because it implies personal and financial security and greater repayment potential.
- Refrain from multiple simultaneous loan applications/inquiries: Avoid making several loan applications/inquiries concurrently or during a limited amount of time from numerous lenders. It indicates that you are hungry for loans and thus raises the number of tough inquiries on your credit report, which in turn will negatively impact your credit score and limit the likelihood of your personal loan being accepted.
Also, check about Central Bank of India Personal Loan Documents Required
FAQs for PNB Personal Loan Documents Required
✅ What is the PNB Personal Loan Interest rate?
The PNB Personal Loan interest rate starts at 10.50% per annum. The interest rate depends on the borrower’s credentials.
✅ How can I get a Bank of Baroda Personal Loan?
Just visit the PNB branch with your documents and apply for a personal loan with your banker. If you have all the PNB Personal Loan Documents Required then you can also get a Personal Loan sanctioned by using online with Dialabank to avail of secure processing and personalized assistance.
✅What is the minimum and maximum loan amount that I can avail myself of on a personal loan?
You can avail of a personal loan ranging between Rs. 50,000 to Rs. 10 lakh from PNB, provided you meet the bank’s eligibility criteria.
✅What is the tenure option available on PNB personal loans?
Bank of Baroda’s personal loans come with a repayment tenure ranging between 12 to 60 months.
✅How can I apply for a PNB personal loan online?
You can apply for a PNB personal loan online by visiting the bank’s official website, by logging into your net banking account.
✅ How to calculate PNB Personal Loan EMI?
Use your amount of Loan, loan-tenure, and rate-of-interest to calculate your Personal Loan EMI using the EMI calculator available on Dialabank’s website.
✅ What can I use Bank of Baroda Personal Loan for?
You can utilize your PNB Personal Loan for several monetary needs such as funding your wedding or that of any relative, pay your bills, renovate and repair your home, support your vacation or any other expense, etc. All you need is a good CIBIL score, a decent net income, and all the necessary documents that fall under the category of PNB Personal Loan Documents required.
