Punjab National Bank (PNB) is one of India’s oldest and most trusted public sector banks. Known for its wide range of financial products, PNB has become a preferred choice for individuals seeking loans for personal or family needs. Among its offerings, personal loans are popular because they are unsecured, meaning no collateral is required.
A high-value loan of ₹27 lakh can help you meet large expenses like home renovation, higher education, medical treatment, or marriage. Before applying, it is important to understand EMI, interest rates, and salary eligibility.
Understanding PNB Personal Loans
PNB offers personal loans to:
- Salaried professionals
- Self-employed individuals
- Pensioners
- Government employees
These loans are typically unsecured and flexible in use. The repayment tenure usually ranges from 1 year to 7 years, depending on your income and repayment capacity.
Since the loan is unsecured, interest rates are slightly higher than secured loans, but PNB provides competitive rates backed by the trust of a government-owned bank.
EMI Calculation for ₹27 Lakh Loan
The EMI (Equated Monthly Installment) is the fixed amount you pay every month to repay the loan. It depends on:
- Loan amount
- Interest rate
- Loan tenure
For a ₹27 lakh loan:
- 3-year tenure: EMI ~ ₹89,000/month
- 5-year tenure: EMI ~ ₹59,000/month
- 7-year tenure: EMI ~ ₹47,000/month
Note: A longer tenure reduces monthly EMI but increases total interest paid. A shorter tenure means higher EMIs but lower overall interest. Choose according to your financial comfort.
Interest Rates
PNB personal loans carry interest rates between 10.40% and 14.20% per annum. Factors affecting the rate include:
- Credit score
- Monthly income
- Employment type
- Relationship with PNB (salary account, savings account, etc.)
Interest is usually charged on a reducing balance basis, which means the interest component decreases as the loan is repaid.
Salary Eligibility for a ₹27 Lakh Loan
For high-value loans, banks evaluate whether the borrower can comfortably pay the EMI. Generally, EMI should not exceed 40–50% of monthly net income.
- 3-year tenure (EMI ₹89,000): Minimum income ~ ₹1.80 lakh/month
- 5-year tenure (EMI ₹59,000): Minimum income ~ ₹1.20 lakh/month
- 7-year tenure (EMI ₹47,000): Minimum income ~ ₹1 lakh/month
Existing EMIs or other financial liabilities can increase the required income level.
Other Eligibility Criteria
Additional requirements include:
- Age: 21 to 60 years (relaxed for pensioners)
Employment stability:
- Salaried: Minimum 2 years total experience, 1 year in current company
- Self-employed: Minimum 3 years of stable income
- Good credit score, ideally above 750,
- No recent defaults or delayed payments
- Healthy banking behavior (salary credits, minimum balance, etc.)
Documentation Process
Required documents typically include:
- Identity proof
- Address proof
- Income proof (salary slips, Form 16, or ITR for self-employed)
- Bank statements (last 6 months)
- Employment verification
The processing time is usually 5–7 working days, though PNB account holders or pre-approved customers may get faster disbursal.
Conclusion
A ₹27 lakh personal loan from PNB can help individuals meet significant financial needs without pledging assets. However, such a large loan requires careful planning. Evaluate your income stability, existing commitments, and ability to repay before applying.
Selecting the right tenure is important: longer tenure = lower EMI, higher interest; shorter tenure = higher EMI, lower interest. PNB’s transparent process and government-backed security make it a reliable choice for borrowers seeking high-value personal loans.
FAQs
Who is eligible for a ₹27 lakh PNB personal loan?
Salaried professionals, self-employed individuals, pensioners, and government employees meeting income and credit score criteria are eligible.
What is the EMI for a ₹27 lakh loan?
EMI depends on tenure: ~₹89,000/month for 3 years, ~₹59,000/month for 5 years, and ~₹47,000/month for 7 years.
What is the interest rate on this loan?
The rate ranges between 10.40% and 14.20% per annum, depending on credit profile and bank evaluation.
How much salary is required to get ₹27 lakh loan?
Minimum income varies by tenure: ₹1.80 lakh/month for 3 years, ₹1.20 lakh/month for 5 years, and ₹1 lakh/month for 7 years.
What documents are needed to apply?
Identity proof, address proof, income proof, bank statements (last 6 months), and employment verification are required.