PNB Personal Loan : Hello friends, if you are also thinking of taking a loan to do some work, then through this post we are going to give you information related to PNB Personal Loan. After reading which you will know how much EMI is on taking a personal loan of ₹ 700000 from PNB Bank.
Along with this, you will get information about how much salary is required to avail this loan. So let’s try to know the complete information in detail.
Know how much EMI will be? And how much loan will have to be repaid
The personal loan provided by PNB Bank has an interest rate of 11% per annum. But the interest rate may vary slightly according to the profile as well as the credit score. If you get a loan of ₹ 700000 from PNB Bank for 5 years, then you will have to pay ₹ 15220 as an installment every month.
The installment is determined on the basis of the interest rate as well as the loan amount and time. According to the amount you have been told to pay, you have to pay a total of ₹9,13,182 to the bank, which includes the interest rate of ₹2,13,182.
Try to understand through the EMI calculation list
- Fixed Loan Amount :- ₹7,00,000
- Interest rate charged for 1 year :- 11%
- Duration in Months :- 60 Months
- Monthly EMI :- ₹15,220
- Total amount paid :- ₹9,13,182
- Total interest rate applicable :- ₹2,13,182
Through the information given in the list above, you must have got the information about how much EMI will have to be paid on this loan as well as how much money you will have to pay.
Know how much salary is required to get a loan of ₹ 7 lakh?
Now we are going to discuss about how much salary is required for a loan of ₹ 7 lakh rupees, so you should read the information given here carefully. We want to tell you that it is checked by the bank that your EMI should not be more than 40% of your net income. This means that if the EMI is 15220, then the minimum salary of all of you must be between ₹ 38000 to ₹ 40 thousand.
If all of you have a salary less than this, then the bank may not give you a loan or the loan amount may be reduced. Also, if your salary is good, then you will get a loan for a period of less than 5 years, due to which your interest will be less.
Summary
Through this post, we have told you what should be your salary to take a personal loan from Punjab National Bank and how much EMI you will have to pay on this loan. If you liked the post, then please share it and if you have any questions, then write it in the comment.