PNB Bank Application Form for Personal Loan ( Personal Loan

PNB Bank Application Form for Personal Loan ( Personal Loan PNB 1114 (R1)) from Download

Here are the key points of the Punjab National Bank (PNB) Personal Loan Application Form, categorized for quick reference:

Form Identifier: Form number PNB 1114 (R1) (p. 1).
Layout: Consists of Part I (Applicant and Co-Applicant details) (pp. 1-2), Part II (Guarantor Information) (p. 4), and the Most Important Terms & Conditions (MITC) (p. 6).
Signature Rule: Every page of the form, including the MITC, must be physically signed by all borrowers, co-applicants, and guarantors (p. 3).

Identification: Mandatory fields for PAN, Aadhaar number, and choice of standard government ID (Passport, Voter ID, or Driving License) (p. 1).
Employment Profiles: Captures specific fields for Salaried individuals, Self-Employed professionals (CA, Doctor, Engineer, Lawyer), and Army Officers (requiring IC No. and Rank) (p. 2).
Financial Tracking: Requires gross/net annual income for salaried individuals (p. 2) and a 3-year Income Tax Return history for self-employed applicants (p. 2).

Interest Types: Offers both Floating and Fixed rate options (p. 3). Fixed rates remain static for the entire loan tenor (p. 6), while floating rates are linked to the Repo Rate Linked Rate (RLLR) (p. 6).
Rate Reset Rules: For floating options, the markup component resets every 3 years (p. 6). Any change in the RBI repo rate changes the RLLR on the very next working day (p. 6).
Switchover Options: Borrowers can switch between fixed and floating rates maximum once during the loan tenor (p. 6). The switchover fee is 0.50% of the outstanding loan amount or ₹10,000, whichever is lower (p. 6).

Default Penalty: Late payment or regularisation defaults attract a penal charge of 2.00% p.a. on the defaulted amount (p. 8). Multiple default events can increase this to 3.00% p.a. (p. 9), capped at a maximum of 4.00% p.a. (p. 9).
Exemptions: No penal charges are levied on credit advances up to ₹25,000 (p. 9).
Prepayment Charges: Term loans carry a 2% foreclosure charge if taken over by another bank (p. 9). However, this is waived if the loan is floating rate (non-business) for individuals, or if it is prepaid entirely from the borrower’s own financial sources (p. 9).
Processing Fees: All upfront application fees are entirely non-refundable (p. 8).

Salary Account Linkage: Salaried individuals must submit an undertaking promising not to transfer their salary account to another bank during the active currency of the loan (p. 10).
Sanction Validity: A loan approval remains legally valid for a maximum of 6 months from the date of sanction (p. 10).

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