What is the personal loan interest rate in PNB?
8.95% p.a.
Punjab National Bank (PNB) Personal Loan Interest Rates
| Particulars | Salaried/Self-employed/Pensioners |
|---|---|
| Interest Rate | 8.95% p.a. to 14.50% p.a. |
| Processing Fee | Up to 1% of the loan amount |
| Loan Tenure | Up to 84 months |
| Loan Amount | Up to Rs.15 lakh |
How is personal loan EMI calculated monthly?
The Equated Monthly Instalment (or EMI) consists of the principal portion of the loan amount and the interest. Therefore, EMI = principal amount + interest paid on the personal loan.
What is the EMI for 50000 loan?
Calculated Monthly EMI for 50000 of loan amount for 3 years at various rate of Interest :
| Loan Amount | Rate of Interest | Per Month EMI |
|---|---|---|
| 50000 | 14.00% | Rs. 1,709 |
| 50000 | 15.00% | Rs. 1,733 |
| 50000 | 16.00% | Rs. 1,758 |
| 50000 | 18.00% | Rs. 1,808 |
What is the interest of 5 lakh in PNB?
Punjab National Bank Fixed Deposit Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 5.25% | For 5 years with interest of 5.25% |
|---|---|---|
| ₹ 50,000 | ₹64972 | ₹64972 |
| ₹ 1 lakh | ₹129943 | ₹129943 |
| ₹ 2 lakh | ₹259886 | ₹259886 |
| ₹ 5 lakh | ₹649716 | ₹649716 |
How much loan can I get if my salary is 25000?
25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.)
Can I get personal loan if my salary is 10000?
The more income proof you are able to provide, the higher will be the approval chances. Banks such as SBI and Indian Overseas Bank provide personal loans to individuals who have lower income of Rs….Personal Loan For Low Salary Less Than 10000.
| Bank | Minimum Monthly Income Required |
|---|---|
| Punjab National Bank | Rs. 10,000 |
| HDFC Bank | Rs. 15,000 |
| ICICI Bank | Rs. 17,500 |
How is personal loan EMI calculated manually?
The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
How much loan can I get on 40000 salary?
Multiplier Method
| Salary | Expected Personal Loan Amount |
|---|---|
| Rs. 20,000 | Rs. 5.40 lakhs |
| Rs. 30,000 | Rs. 8.10 lakhs |
| Rs. 40,000 | Rs. 10.80 lakhs |
| Rs. 50,000 | Rs. 13.50 lakhs |
What does EMI in PNB personal loan mean?
Equated Monthly Installment (or EMI) is the amount of money that a borrower needs to pay every month to a lender (bank/NBFC) in order to repay a loan. You can use Punjab National Bank’s personal loan EMI calculator to assess the cost of a personal loan even before you apply for it and thereby, manage your finances in a better way.
Is there processing fee for PNB EMI calculator?
The calculator also uses processing fee for calculation of EMI. However, it differs from bank to bank depending on the rate being offered. The processing fee also changes anywhere in the range of 1% to 3%. Is the EMI as shown in the loan calculator same as that PNB will allow me to pay?
Which is the best personal loan EMI calculator?
You can use Punjab National Bank’s personal loan EMI calculator to assess the cost of a personal loan even before you apply for it and thereby, manage your finances in a better way. You can also use Paisabazaar’s personal loan EMI calculator to compute your loan EMIs for free.
What is the interest rate of PNB personal loan?
PNB personal loan interest rate starts as low as 8.95% p.a. A higher interest rate typically results in higher EMIs over the tenure of the loan. Loan tenure: It is the time period over which you can repay the loan.