PNB Business Loan: Check Interest Rate, Eligibility & Documents Required

1. PUNJAB PUNJAB NATİONAL NATİONAL BANK BUSİNESS BUSİNESS LOAN BANK LOAN

2. D E S C RI P T I O N D E S C RI P T I O N • PNB business loans PNB business loans have become a popular choice for many business ventures due to its simplified documentation, flexible tenures, and lower interest rates.Punjab National Bank business loans Bank business loans are quick in processing, competitive and customized to suit each of your business needs.Afinoz.com has an exclusive collaboration with PNB bank. So,applying for PNB business loan applying for PNB business loan with Afinoz.com makes the process of application and approval of loans loans from PNB from PNB much quicker and easier. Punjab National

3. I NT E RE S T RAT E S O F P NB B US I NE S S I NT E RE S T RAT E S O F P NB B US I NE S S L OA N L OA N TYPE TYPE CHARGES CHARGES 12.60% ( Up to 2 lakhs )* 15.60% ( Above 2 lakhs )* Interest Rates Loan tenure 1 to 5 Years Up to Rs. 2 lakhs - NIL Above Rs. 2 lakhs - Rs. 400 per lakh or part thereof Subject to a minimum of Rs 1000 and a maximum of Rs.50000 Documentation Charges Prepayment No prepayment permitted until the repayment of 6 EMI’s Prepayment charges 2% of the outstanding prepaid No due certificate/ No Objection Certificate(NOC) Rs. 150 per certificate 0.02% of the loan amount (Minimum of Rs. 1000 And Maximum Rs. 5 lakhs) Charges for change in terms &conditions

4. P UNJ A B NAT I O NA L B A NK B US I NE S S P UNJ A B NAT I O NA L B A NK B US I NE S S L OA N E L I G I B I L I T Y C RI T E RI A L OA N E L I G I B I L I T Y C RI T E RI A Any individual who is an Indian citizen and has a residual income and the ability to repay a loan is eligible for PNB business loans. The other parameters that a loan seeker must satisfy in order to be eligible for getting a business loan for new business are mentioned below: Age of the borrower: Age of the borrower: Minimum age of the applicant at the time of applying for a business loan more than 58 years at the time of maturity of the loan. applying for a business loan should be 21 years and no • Turnover of the company or business should be at least 25 lakhs per annum. • Work experience: Work experience: Minimum of 2 years experience in the current field (in case of self-employed professionals) and minimum 2 years of business continuity. • Security: Security: Besides primary security, the loan may be secured by collateral security or any Credit Guarantee Scheme • Business must be drawing a profit for the past 1 year. • CIBIL score: CIBIL score: Loan approval will be difficult if your CIBIL score is low 600-750. In some cases, if your credit score is low, but your business is doing good in recent times then your loan application might get approved and you might have to pay a high-interest rate and will be offered many unfavorable terms and conditions on your loan. if your CIBIL score is low. Usually, the loans that are approved have a score of • Punjab National Bank business loan eligibility calculator: Punjab National Bank business loan eligibility calculator: Using the business loan EMI calculator eligibility calculator eligibility calculator at Afinoz.com you can easily calculate the exact amount of your monthly installment and your eligibility as per your potential. business loan EMI calculator and business loan business loan •

5. D O C UME NT S RE QUI RE D F O R P NB D O C UME NT S RE QUI RE D F O R P NB B US I NE S S L OA N B US I NE S S L OA N • A business loan from Punjab National Bank A business loan from Punjab National Bank requires the simplest form of documents which can be categorized broadly into two categories-Sole Proprietorship Firms and Private Ltd. Companies/ Partnership Firms: • Documents for Documents for Sole Proprietorship Firms: Sole Proprietorship Firms: ID Proof of the sole proprietor: ID Proof of the sole proprietor: (Any one of the following) Passport/ Voter Identity Card/ PAN Card/ Driving License/ Job Card/ Aadhaar Card/Identity Card (subject to the satisfaction of bank) Address Proof sole proprietor: Address Proof sole proprietor: (Any one of the following)Electricity Bill/ Telephone Bill/ Bank Account Statement of any other bank/ Letter from reputed employer/ Letter from recognized public authority verifying the address of the customer to the satisfaction of the bank/ Ration Card Bank Statements: Bank Statements: Last 6 months business credit statement for loans below Rs. 10 lakhs, while last 12 months business credit in case of loans up to Rs.10 lakhs and above Copy of IT/ P & L balance sheet of the enterprise for the last 2 years (audited and certified by CA)

6. D O C UME NT S RE QUI RE D F O R P NB D O C UME NT S RE QUI RE D F O R P NB B US I NE S S L OA N B US I NE S S L OA N Proof of residence of all directors: Proof of residence of all directors:Recent telephone bills, electricity bill, property tax receipt/Passport / Voter’s ID Card of Proprietor, partner or Director of the company Documents for Private Ltd. Companies Documents for Private Ltd. Companies and Partnership Firms: and Partnership Firms: Address proof of Business Last three years balance sheets along with income tax/sales tax returns (Applicable for all the loans from Rs. 2 lakh and above). However, for cases like fund based limits of Rs. 25 lakh if audited balance sheets are not available, then unaudited balance sheets are also acceptable as per instructions specified by the bank balance sheets of the unit

7. D O C UME NT S RE QUI RE D F O R P NB D O C UME NT S RE QUI RE D F O R P NB B US I NE S S L OA N B US I NE S S L OA N Memorandum and articles of Memorandum and articles of association association of the Company/Partnership Deed of partners Rent Agreement Rent Agreement (if business property is for rent) and clearance from pollution control board if applicable Photocopy of VAT return applicable) VAT return (if Copy of SSI / MSME SSI / MSME registration registration(if applicable) Profile of the unit Profile of the unit including names of promoters, other directors in the company, the activity being undertaken, addresses of all offices and plants, shareholding pattern etc. Assets and liabilities Assets and liabilities statement statement of promoters and guarantors along with latest income tax returns Photocopies of lease deeds/ title lease deeds/ title deeds deeds of all the properties being offered as primary and collateral securities

8. W H Y S H O U L D YO U A P P LY F O R A P U N J A B W H Y S H O U L D YO U A P P LY F O R A P U N J A B N AT I O N A L B A N K B U S I N E S S L O A N T H RO U G H N AT I O N A L B A N K B U S I N E S S L O A N T H RO U G H A F I N O Z ? A F I N O Z ? Instant Approval Instant Approval – – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 business days. Real Real- -time application tracking time application tracking– –Keep track of your application’s status in real-time with a unique transaction id which is generated at the time of loan application submission on our website. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails. Online eligibility check Online eligibility check - - Do all your dealings with the bank online. You have to provide your basic information and our online business loan eligibility calculator online business loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Punjab National bank for financing your business.

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