PNB Car Loan – Interest Rates 2023, EMI Eligibility Calculator

Quotes on PNB car loans online. Car loans Available for purchase of New Car/ Van/ Jeep/ (MUV)/ Sports Utility Vehicle (SUV) or for old vehicles that are not older than 3 years. EMI Calculator for Calculations Monthly Payment.

Latest Update – PNB launched to make available Loan for purchase of car to Government Employees on attractive terms. Minimum net monthly salary / income – Rs.20000/-. Processing Charges/ Upfront Fee/ Documentation Charges are NIL.

PNB Car Loan Interest Rates 2023

Interest Rates 8.95% – 10.75%
Min Loan Amount 2 Lakh
Max Loan Amount 1 Crore
Min. Salary 20000 per month
Processing Fee Nil till 31.03.2023
Repayment 7 Years
Pre Payment Charges NO pre-payment charges
EMI Per lakh Rs. 1606

Compare, Calculate & Save more on Interest Rates & EMIs

Professional Details
Loan Amount
Annual Income

PNB Car Loan – Eligibility

✓ Interest Rates = 8.95% to 10.75%
✓ Individuals as well as Business Concerns (Corporate or non-corporate).
✓ Minimum net monthly salary / pension / income – 20000/-. Income of spouse /Parent can be added.
✓ Processing fee – 1% subject to maximum of Rs.6000/- exclusive of service tax.

About PNB

Punjab National Bank is the country’s second largest government-owned bank that started operation in 1894. During the long history of over 122 years of the Bank, 7 banks have merged with PNB and it has become stronger and stronger with a network of 10076 Domestic branches and 9753 ATMs as on March 2023. Retail Loans of the Bank stood at Rs.71173 crore growing at 15.91% in Sep’17 while MSME Advances of the Bank were at Rs. 79301 crore as on 30.09. Under Priority Sector, Advances to Agriculture and allied sectors stood at Rs.67503 crore showing YoY increase of 9.2%

PNB Car loan Emi calculator

PNB car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right car loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For an example, You can take a loan amount of Rs.5.70 lakh for New Swift ZXI or Brezza LDI car for 5 years repayment period at 8.90% rate of interest than you emi calculations are as follows:

  • Loan Amount = Rs. 5,70,000
  • Monthly Installment (EMI) = Rs. 11,805
  • Total Interest Amount = Rs. 1,38,277
  • Total Amount (Principal + Interest) = Rs. 7,08,277
Year Principal Interest Balance Amount
1 Rs. 94,733 Rs. 46,927 Rs. 475,267
2 Rs. 103,515 Rs. 38,145 Rs. 371,752
3 Rs. 113,115 Rs. 28,545 Rs. 258,637
4 Rs. 123,603 Rs. 18,057 Rs. 135,034
5 Rs. 135,121 Rs. 6,598 Rs. 0

Amount of Loan

✓ For Individuals / Proprietorship Concerns: 25 times of the monthly net salary OR Rs.25 lacs (for one or more vehicles), whichever is lower. Income of parent(s) / spouse can be taken into account for determining loan amount. In such cases, the parent(s)/ spouse shall stand as additional guarantor.

✓ For Business Concerns (Corporate or non-corporate): No ceiling on loan amount (for one or more vehicles).

Repayment Options:

✓ For New Car/Van/Jeep/MUV/SUV: 84 EMIs

✓ For Old Car/Van/Jeep/ MUV/SUV: 60 EMIs

Guarantee / Collateral Security

i) Third party guarantee / collateral security is waived in following cases:

Permanent Employees of Central Govt. /State Govt. /PSUs/ MNCs/ Listed Companies at NSE/ BSE whose Shares are actively traded and quoted above par.
For other than salaried class borrowers where ex – showroom cost of the car is exceeding Rs.6 lakh.
ii) However the Guarantee of Parent(s) / Spouse will be taken in case their income has been considered for determining loan amount

Other Available Credit Products of Punjab National Bank:
PNB Home Loan
PNB Personal Loan

Source: PNB Official Website