PNB Car Loan
Punjab National Bank customers can avail a car loans at affordable interest rates starting from 7.85%. The repayment tenure for a car loan can 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 purchasing a new car or a pre-owned car, and their credit score. Punjab National Bank used car loan can also be availed.
Key Features of PNB Car Loan
Some of the key features of PNB Car Loan are given below:
- Repayment tenure up to 7 years for new cars and 5 years from pre-owned cars.
- Affordable processing fee.
- Affordable rate of interest.
- The margin on the loan is up to 15% of the on-road price of a new car and up to 25% if you are looking to purchase a pre-owned car.
- The margin is 10% if PNB has a tie-up with the manufacturer or dealer.
Punjab National Bank Car Loan Fees & Charges
Charges | New Car Loan | used Car Loan |
Prepayment Charges | Floating rate: NilFixed rate: 2% on the outstanding prepaid | Floating rate: NilFixed rate: 2% on the outstanding prepaid |
Processing Charges | 0.25% of the loan amount (Rs.1,000 – Rs.1,500) | 0.25% of the loan amount (Rs.1,000 – Rs.1,500) |
Documentation Charges | Nil | Nil |
Punjab National Bank Car Loan Eligibility
Some of the eligibility criteria you will have to fulfil to be eligible for a car loan from Punjab National Bank are given below:
- The car can only be used for private purposes.
- Joint borrowers and individuals can avail the loan.
- Companies and firms with a cash profit over the last two years can avail the loan.
- Existing customers must have a good repayment history
Punjab National Bank Car Loan Interest Rates
New Car
Type of Loan | Interest Rate |
Fixed Rate | 8.85% p.a. - 9.70% p.a. |
Floating Rate | 7.85% p.a. - 8.70% p.a. |
Used Car
Type of Loan | Interest Rate |
Fixed Rate | 9.90% p.a. - 10.70% p.a. |
Floating Rate | 8.90% p.a. - 9.90% p.a. |
Documentation Needed to Apply for a Punjab National Bank Car Loan
The list of documents that must be submitted are mentioned below:
- Signed application form with photograph
- Photo ID and age proof
- Residence proof
- Bank statements of last 6 months
- Documentation for salaried applicants: Last 3 months' salary - slips
- Form 16 or Income Tax Returns
- Documentation for self-employed applicants: Last 3 years' Income Tax Returns with computation of Income and last 3 years' CA Certified / Audited Balance Sheet and Profit & Loss Account
🚗 How to Apply for a PNB Car Loan (2025)?
Offline Application (at the Branch)
- Visit your nearest PNB branch and request a car loan application form.
- Fill in the form with accurate details.
- Submit the form along with the required documents: Identity and address proof (e.g., Aadhaar, PAN, passport) Income proof (salary slips, ITRs, or bank statements) Quotation or invoice of the vehicle Photographs and additional documents, if required
- The bank will verify your documents and assess your eligibility.
- Once approved, the loan will be sanctioned and disbursed to the car dealer or your account.
Online Application (through PNB Website or App)
- Go to the official PNB website or log in to the PNB One app.
- Navigate to the Car Loan or Retail Loans section.
- Fill in the digital application form with personal, employment, and vehicle details.
- Upload scanned copies of the required documents.
- Submit the form for verification.
- After approval, the bank will disburse the loan amount directly.
FAQs on Punjab National Bank Car Loan
- What are the different types of cars that PNB offers car loans for?
PNB offers car loans for various types of cars such as sedans, hatchbacks, jeeps, vans, Sports Utility Vehicles (SUVs), and Multi Utility Vehicles (MUVs).
- Who is eligible to avail a car loan from PNB?
Individuals, joint borrowers, corporate businesses, and non-corporate businesses can avail a car loan from PNB.
- What security must I provide when I avail a car loan from PNB?
The vehicle that is being purchased must be hypothecated to PNB.
- What is the processing fee that is levied by PNB?
0.25% of the amount that is being provided as a loan will be the processing fee. However, the minimum and maximum processing fee that can be levied are Rs.1,000 and Rs.1,500, respectively.
- Does PNB levy any documentation charges on a car loan?
No, PNB does not levy any documentation charges on a car loan.
Latest News on PNB Car Loan
Punjab National Bank introduces ‘PNB NIRMAAN 2025’ that offers interest concessions on car loans.
‘PNB NIRMAAN 2025’, a special retail loan campaign, has been introduced by Punjab National Bank (PNB) that makes car loans more accessible. This initiative offers interest rate concession of 5 basis points and does not charge any fees for documentation and loan processing. Customers can apply for car loans under this special time-bound loan offer online by logging into the PNB website or PNB One mobile app. The campaign can also be availed by the customers from any PNB branches.
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