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Personal, home, vehicle & other loans

PNB Car Loan

Finance for new or used private-use cars, with separate new/old rate bands, an income-linked limit and up to 84 for a new vehicle.

Current vehicle rate bandsNew car: floating 7.65%–9.70% p.a. for non-EV and 7.60%–9.65% for e-vehicles; fixed 8.65%–10.70% and 8.60%–10.65%, respectively, by CIBIL band. Women row: 7.65%/7.60% floating irrespective of CIC. Old car: floating 9.45%–10.55%; fixed 10.45%–11.55% by CIBIL band. Rate page dated 8 October 2026.Maximum financeUp to 25 times net monthly salary, maximum ₹1 crore for the four-wheeler scheme; new vehicles are financed up to 90% of on-road price in the scheme chart.Maximum vehicle financeIndividuals/proprietorships: up to 25× gross monthly salary, pension or income, capped at ₹1 crore across one or more vehicles. Business concerns: no ceiling on loan amount. Scheme margin varies by route: new car 15% on-road (10% for eligible tie-up route), old car 25%, new-car reimbursement 25%.
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Quick eligibility check

PNB Car Loan

0 of 5 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: ₹25,000 net monthly salary, pension or income?

Published source: Minimum monthly income

2Do you meet this requirement: Individuals may apply singly or jointly?

3Do you meet this requirement: eligible company/firm borrowers must have been in cash profit for the preceding 2 years?

4Does your annual income meet this requirement: Minimum net monthly salary/pension/income is ₹25,000, waived with 110% liquid term-deposit security?

5Do you meet this requirement: The 25×/₹1 crore limit applies to individuals/proprietorships?

0 of 5 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 8 Oct 2026 · active
Offered byPunjab National Bank

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Maximum financeUp to 25 times net monthly salary, maximum ₹1 crore for the four-wheeler scheme; new vehicles are financed up to 90% of on-road price in the scheme chart.View source
The official scheme chart publishes the salary multiple, ₹1 crore cap and margin.
Source
Scheme Features Chart — PNB
Page / section
Vehicle Loans
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Loan typeVehicle loanView source
The official product name identifies this as “PNB Car Loan”.
Source
PNB Car Loan — official product page
Page / section
Official product name and loan classification
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Current vehicle rate bandsNew car: floating 7.65%–9.70% p.a. for non-EV and 7.60%–9.65% for e-vehicles; fixed 8.65%–10.70% and 8.60%–10.65%, respectively, by CIBIL band. Women row: 7.65%/7.60% floating irrespective of CIC. Old car: floating 9.45%–10.55%; fixed 10.45%–11.55% by CIBIL band. Rate page dated 8 October 2026.View source
Transcribed the printed present-rate values, formulas, separate EV columns, borrower rows, bands and old-car table. PNB's Yuva Vahan 0.05-point concession is not included because this is the standard PNB Car Loan record. The rate values are quoted as printed; they are not recalculated from a separately published benchmark.
Source
PNB Retail Advances — current vehicle-loan rate tables
Page / section
Sections 2.1 New Car and 2.2 Old Car; all borrower/ rows and footnotes
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Floating-rate benchmarkFloating car-loan rows use RLLR + BSP with borrower/CIBIL/vehicle-specific spreads. PNB's current RLLR is 8.35% effective 8 October 2026. No product BSP is supplied here; PNB's printed all-in vehicle rates are not recalculated.View source
The benchmark page gives 8.35%; the separate vehicle rate page states + with vehicle/ spread. No is inferred and the printed all-in vehicle rates are not recalculated.
Source
PNB Interest Rates on Advances — current benchmark row
Page / section
table, 8.35% effective 8 October 2026; paired with vehicle rate-page formula rows 2.1–2.2
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Minimum monthly income₹25,000 net monthly salary, pension or income. No minimum income amount is required when the borrower provides liquid term-deposit security equal to 110% of the loan.View source
The current scheme page states minimum net monthly salary/pension/income ₹25,000 and no monthly minimum where 110% liquid term-deposit security is provided. This supersedes the older ₹20,000 chart value.
Source
PNB Car Loan for Public — current scheme page
Page / section
Income Criteria
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Maximum vehicle financeIndividuals/proprietorships: up to 25× gross monthly salary, pension or income, capped at ₹1 crore across one or more vehicles. Business concerns: no ceiling on loan amount. Scheme margin varies by route: new car 15% on-road (10% for eligible tie-up route), old car 25%, new-car reimbursement 25%.View source
The page distinguishes the 25-times/₹1 crore limit for individuals and proprietorship concerns from business concerns, and specifies distinct new, tie-up, old and reimbursement margins.
Source
PNB Car Loan for Public — current scheme page
Page / section
Quantum of Finance and Margin
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Maximum repayment periodNew vehicle: up to 84 EMIs or remaining service, whichever is shorter. Old vehicle (not over 3 years old): up to 60 EMIs or remaining service, whichever is shorter. Repayment must finish by age 70 for salaried borrowers with pension/pensioners and age 65 for others.View source
New/old vehicle repayment periods, vehicle age and final repayment-age limits are separately stated on the scheme page.
Source
PNB Car Loan for Public — current scheme page
Page / section
Repayment (Maximum)
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Processing and documentation charge0.25% of loan amount; minimum ₹1,000 and maximum ₹1,500. Documentation charge: nil. Applicable taxes/GST are extra.View source
The current Car Loan row lists 0.25%, minimum ₹1,000, maximum ₹1,500 and nil documentation; the schedule's tax note applies.
Source
PNB Services Charges Related to Retail Advances — vehicle rows
Page / section
Car Loan row and taxes note
Accessed
8 Oct 2026
Confidence
high
Open official source ↗
Prepayment / foreclosure chargeFloating rate: no prepayment charge. Fixed rate: 2% of the outstanding prepaid amount. No charge for own-source repayment, or for switching to another bank within 30 days after an upward rate revision or change in sanction terms; the public page also gives the benchmark-reset notice/exit windows.View source
The scheme page differentiates floating and fixed loans, own-source repayment and rate/term-change switching. The general separate takeover rule is retained in its own table and is not used to erase the scheme-specific rule.
Source
PNB Car Loan for Public — current scheme page
Page / section
Prepayment Charges
Accessed
8 Oct 2026
Confidence
high
Open official source ↗

Benefits and features

  • Individuals/proprietorships may borrow up to 25 times gross monthly income, capped at ₹1 crore
  • New-car rates vary by band and EV status; used-car bands are separate
  • New-car repayment up to 84 ; used-car repayment up to 60
  • Floating-rate prepayment carries no charge; fixed-rate prepayment is 2% subject to published exceptions

Eligibility

  • Individuals may apply singly or jointly; eligible company/firm borrowers must have been in cash profit for the preceding 2 years. Minimum net monthly salary/pension/income is ₹25,000, waived with 110% liquid term-deposit security. The 25×/₹1 crore limit applies to individuals/proprietorships; margins, co-borrower and security rules vary by route.

Passing a listed condition does not mean the bank will approve an application.

Related official documents

PNB 1337 Application Form for Car Loan with Most Important Terms & Conditionsofficial-application-form-and-mitc-pdf · complete-13-page-review-and-visual-inspection · accessed 8 Oct 2026
↗
Interest Rates on Advances — PNBofficial-rate-table · current · accessed 30 Aug 2026
↗
Services Charges Related to Retail Advances — PNBofficial-service-charge-page · current · accessed 30 Aug 2026
↗
Vehicle Loans — PNBofficial-product-page-and-pdf · current · accessed 30 Aug 2026
↗
PNB Car Loan — product page, scheme feature chart, rate and retail-charge schedulesofficial-product-page-and-schedule · current · accessed 31 Aug 2026
↗
PNB Car Loans — current public vehicle-loan schemeofficial-product-page · current · accessed 12 Sept 2026
↗
PNB Car Loan for Public — current scheme pageofficial-product-page · complete-product-page-reviewed · accessed 8 Oct 2026
↗
PNB Interest Rates on Advances — current MCLR and RLLR benchmarksofficial-bank-rate-page · reused-current-benchmark-reviewed-2026-10-08 · accessed 8 Oct 2026
↗
PNB Display of RBI Norms — retail-loan rates, charges and APR, quarter ended March 2026official-regulatory-disclosure-pdf · all-pages-text-and-visual-review-complete · accessed 8 Oct 2026
↗
PNB Services Charges Related to Retail Advances — vehicle rowsofficial-service-charge-page · current-vehicle-charge-rows-reviewed · accessed 8 Oct 2026
↗
PNB Retail Advances — current vehicle-loan rate tablesofficial-retail-rate-page · current-vehicle-sections-reviewed · accessed 8 Oct 2026
↗
PNB Forms Download — vehicle/car-loan listingofficial-forms-catalogue · vehicle-form-listing-reviewed · accessed 8 Oct 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹20,370twenty thousand three hundred seventy rupees
Interest paid over the full loan₹23,88,740twenty-three lakh eighty-eight thousand seven hundred forty rupees
Everything you repay₹48,88,740forty-eight lakh eighty-eight thousand seven hundred forty rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Floating rate · Published prepayment termNo prepayment charges

This value is copied from PNB Car Loan — prepayment terms. Check the table notes before relying on it.

Source: PNB Car Loans — current public vehicle-loan scheme · Prepayment Charges Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 4 rows · 2 columnsPNB Car Loan — prepayment termsCurrent prepayment rule and exceptions for the standard public PNB vehicle-loan scheme.View tableHide table

Scroll sideways to view every column

PNB Car Loan — prepayment terms
Rate type or situationPublished prepayment term
Floating rateNo prepayment charges
Fixed rate2% of the outstanding prepaid amount
Own-source repaymentNo prepayment charge
Switch to another bankNo charge when completed within 30 days after an upward rate revision or change in other sanction terms
PNB Car Loans — current public vehicle-loan scheme · Prepayment Charges · accessed 12 Sept 2026Open official source ↗
Table 2 · 1 row · 6 columnsPNB Car Loan — historical portfolio rates, charges and APR (March 2026 quarter)Historical portfolio disclosure, not a current PNB Car Loan offer. The APR annexure calculates on a ₹1,00,000 loan; use the current vehicle-loan rate table and service-charge schedule for current terms.View tableHide table

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PNB Car Loan — historical portfolio rates, charges and APR (March 2026 quarter)
Scheme row range / meanProcessing feeDocumentation charge rangeScope and conditions
Car Loan7.55%–11.55%; mean 9.55%0.25% of loan amount; minimum ₹1,000 and maximum ₹1,500 plus taxesNil8.56%–12.56%Past-quarter portfolio figures; basis ₹1,00,000.
PNB Display of Norms — retail-loan rates, charges and , quarter ended March 2026 · Pages 1–3, Annexures 1A–1C; Car Loan row · accessed 8 Oct 2026Open official source ↗
Table 3 · 15 rows · 2 columnsPNB Car Loan for Public — published scheme termsVehicle, income, finance, rate, margin, repayment and fee terms mapped from the current official scheme page and linked schedules.View tableHide table

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PNB Car Loan for Public — published scheme terms
Scheme termPublished value / condition
Eligible vehiclesNew cars/van/jeep//; used vehicle not more than 3 years old and unencumbered; new-car reimbursement is limited to the published period after purchase.
Minimum income₹25,000 net monthly salary/pension/income; no minimum with liquid term-deposit security equal to 110% of the loan.
Maximum financeIndividuals/proprietorships: 25× gross monthly income, capped at ₹1 crore for one or more vehicles; business concerns: no ceiling on loan amount.
MarginNew vehicle: 15% on-road; qualifying tie-up route: 10%; old vehicle: 25%; new-car reimbursement: 25%.
Income combinationPermitted parent/spouse/earning child income may be considered as a co-borrower; agriculturist income may be assessed from land, crop and yield.
Business eligibilityCompany/firm route requires cash profit in the preceding 2 years; the page also requires a current customer account to be in good standing where applicable.
Security/guaranteeHypothecation of financed vehicle; collateral/guarantee conditions vary by loan size and borrower class; vehicle insurance is at borrower cost.
RepaymentNew vehicle: up to 84 ; old vehicle: up to 60 and vehicle age ≤3 years; remaining service may shorten tenor. Repay by age 70 for salaried borrowers with pension/pensioners or 65 for others.
Processing/documentation0.25% of loan, minimum ₹1,000, maximum ₹1,500; documentation nil; taxes extra.
PrepaymentFloating: nil. Fixed: 2% of outstanding prepaid; own-source and stated rate/terms-change exceptions apply.
Sanction validity6 months; unapplied facility may lapse, and PNB reserves the stated withdrawal right.
Disbursement and vendorPNB prefers direct payment to seller; original bill/cash memo and sanction/security documents are required before/for disbursement.
Vehicle registrationVehicle is registered with borrower as hypothecator and PNB as hypothecatee; bank name must be added to registration certificate and policy within 30 days; submit JRC and insurance copy.
Inspection/closure recordsRegular inspection charge nil; irregular/ inspection charges follow the current schedule. NOC within 7 working days after closure; requested account statement within 3 working days.
Source versionCurrent scheme page last updated 25 March 2026; rate/fee tables accessed 8 October 2026. See the separate detailed PNB 1337 table below.
PNB Car Loan for Public — current scheme page, rate and charge schedules · Complete scheme body; current rate sections 2.1–2.2; vehicle charge rows · accessed 8 Oct 2026Open official source ↗
Table 4 · 10 rows · 6 columnsPNB Car Loan — current new- and old-car rate rowsTranscription of the named PNB vehicle rate rows. EV is separate for new cars; old-car values are for the table's non-EV row. All values are p.a.View tableHide table

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PNB Car Loan — current new- and old-car rate rows
Vehicle / borrower row/Floating non-EVFloating EVFixed non-EVFixed EV
New car — WomenIrrespective of score7.65%7.60%——
New car — PNB PrideAs named scheme row——8.65%8.60%
New car — Corporate; Insta Vehicle (new car only)As named scheme row——8.65%8.60%
New car — Others individual750 and above7.65%7.60%8.65%8.60%
New car — Others individual700–7498.70%8.65%9.70%9.65%
New car — Others individual681–<7009.70%9.65%10.70%10.65%
Old car — Women/PNB Pride/CorporateIrrespective of score / named group9.45%—10.45%—
Old car — Others individual750 and above9.45%—10.45%—
Old car — Others individual700–74910.05%—11.05%—
Old car — Others individual681–<70010.55%—11.55%—
  • The PNB Pride new-car row prints fixed rates only; the old-car PNB Pride group separately has floating and fixed rates.
  • The Insta Vehicle rate-page row is explicitly New Car Only; the repeated visual grouping in the old-car section does not make it an old-car product.
  • PNB Yuva Vahan receives a 0.05 percentage-point concession; it is not a feature of this standard Car Loan product and is not applied here.
  • PNB's displayed present values are retained as printed; the tracker separately records the benchmark and does not recompute rates.
PNB Retail Advances — current vehicle-loan rate tables · Sections 2.1 and 2.2; rows and footnotes · accessed 8 Oct 2026Open official source ↗
Table 5 · 33 rows · 2 columnsPNB 1337 Car Loan — complete MITC conditionsAll decision-relevant clauses in the 13-page official form/MITC, transcribed from pages 7–13; a printed EMI-table anomaly is preserved exactly.View tableHide table

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PNB 1337 Car Loan — complete MITC conditions
sectionPublished term / condition
Interest calculationRate is as sanctioned. Interest is on daily balance, charged monthly; unpaid interest forms part of principal and carries the applicable rate at monthly rests.
Fixed rateFixed rate prevailing at first partial or full disbursement applies for the loan period, subject to the stated switch facility.
Floating benchmark/reset repo-rate change changes from the next working day. Floating Mark-Up+ resets every 3 years from account opening or at the permitted bank/ interval.
Borrower noticesPNB says it will make efforts to notify rate changes through its site, quarterly statement, branch display and general announcements.
SwitchingEligible equated-instalment retail borrower may switch fixed/floating on benchmark change; at most 2 switches. Second switch only after 5 years from the last reset.
Switching charge0.50% of outstanding loan or ₹10,000, whichever is lower, plus applicable .
illustrationFor ₹1 lakh, remaining tenors 5/10/15/20/25/30 years: 8.00% → ₹2,028/₹1,213/₹956/₹836/₹772/₹734; 8.50% → ₹2,052/₹1,240/₹985/₹868/₹805/₹769; 9.00% → ₹2,076/₹1,267/₹1,014/₹900/₹839/₹805; 9.50% → ₹2,100/₹1,294/₹1,044/₹632/₹874/₹841; 10.00% → ₹2,125/₹1,322/₹1,075/₹965/₹909/₹878.
Printed anomaly page 8 visibly prints ₹632 at 9.50% for 20 years; the unusual cell is preserved as printed, not corrected or treated as a verified recalculation.
Rate-change optionsOn change, borrower may increase , extend tenure, combine both or prepay partly/fully. If no option is exercised, PNB first extends tenure within age limits, then raises , then both as necessary.
Negative amortizationIf monthly interest exceeds , same tenor/ sequence applies. PNB sends /email/PNB One notifications; on the printed process, /email notices are sent three times at 7-day intervals and PNB One shows 21-day notice. Irregular/SMA/ accounts cannot extend tenor under the stated clause.
MarginBorrower must bring full contribution before release or as sanction states and maintain the required margin at each disbursement stage.
Fees and event chargesService charges are per sanction before release. Event costs can include legal/valuation fees, dishonoured cheque//, credit-information report and CERSAI charge registration, recovered when incurred.
Processing-fee refundUpfront/processing fee is non-refundable.
Penal-charge triggersDefault in repayment; irregularity (including unpaid interest/service charge or excess over limit/drawing power, with 7-day regularisation instruction); missing review/renewal documents; failure to create/perfect security; or other sanction-term breach.
Penal rate — repayment/ defaultOne trigger from repayment default/ irregularity: 2.00% p.a. on the default/irregularity amount. Two or more such triggers: 3.00% p.a. on that amount.
Penal rate — document/security/other breachOne or more triggers for missing documents, security or other terms: 2.00% p.a. on total outstanding.
Combined penal capWhen repayment/ and document/security triggers combine, total penal charges are capped at 4.00% p.a.: 2% on default/irregularity and 2% on outstanding.
Penal-charge exemptionsNo penal charge on advances up to ₹25,000 or on advances against deposit, life policy, government security or gold when drawing stays within the security value.
Takeover prepaymentGeneral : 2% of prepaid outstanding for takeover of term loans only; does not apply to non-fund facilities, working-capital limits or .
Takeover exemptionsNo takeover charge for borrowers; floating non-business term loans to individuals; microfinance (except loans to -); fixed-with-reset loans switched to floating at reset; own-source repayment; switch within 30 days of spread increase/other sanction change; or benchmark reset increase if borrower notifies within 30 days and moves within 90 days.
Repayment or other schedule specified by sanction.
SecurityPrimary/collateral security and any personal guarantee are as per sanction; vehicle/asset bought with funds is charged to bank.
InsuranceBorrower insures charged assets against all risks at own cost with usual bank clause. PNB may insure if borrower does not and recover cost. Separate health/life insurance may be taken with PNB as sole beneficiary.
DisbursementSubmit sanction/loan/security papers; request disbursement in writing. Payment is preferably direct to seller; original bills/cash memos are retained. Obtain statutory approvals and use funds only for sanctioned purpose.
Vehicle registration and insuranceRegister jointly with borrower as hypothecator and PNB as hypothecatee. Add bank name to registration certificate and insurance within 30 days; submit JRC and policy copy. Borrower undertakes that a valid-licence holder drives the vehicle.
New-car reimbursementVehicle physically verified by PNB; reimbursement follows public car scheme except specific reimbursement terms; registration/insurance papers and bank endorsement are required within 30 days.
Sanction validitySix months from sanction; unavailed facility lapses; PNB reserves its stated withdrawal right before expiry.
Collections/defaultBorrower must pay on due date without reminder. On default PNB may call/text/write/visit and recover communication/visit costs; missed can affect credit history and information is reported monthly to .
Recovery/security enforcementMortgage/security enforcement, repossession and sale follow applicable law and directions stated in the , including the named SARFAESI process where applicable.
Copy of loan documentsRequested copies within 7 working days; administrative fee may apply.
NOC and statementVehicle-owner NOC within 7 working days after closure; loan-account statement within 3 working days after request.
GrievanceBranch/website/customer care routes; escalation to Principal Nodal Officer if unresolved beyond 15 days.
Vehicle schedule versus The general takeover-fee clauses coexist with the public car product page's specific floating/fixed prepayment terms; the product-page terms are shown in the comparison field and both sources are retained here.
PNB 1337 Application Form for Car Loan with Most Important Terms & Conditions · pages 7–13, clauses 1–14 and table footnotes · accessed 8 Oct 2026Open official source ↗

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