PNB Business Loan

 United Bank of India and Oriental Bank of Commerce have merged with Punjab National Bank as of April 1, 2021.

Punjab National Bank (PNB) offers startup, entrepreneur, and self-employed professionals business loans. They plan to help businesses meet their capital needs or expand their operations. PNB offers business loans ranging from Rs. 5 lakhs to Rs. 15 lakhs.

PNB's business loan interest rate is determined by the applicant's profile and business needs, as well as his or her financial history, CIBIL score, and loan repayment history, among other factors.

Business loans from Punjab National Bank are available to entrepreneurs and self-employed people who want to expand their businesses or finance their working capital needs.



What are the Benefits of PNB business loan?

PNB provides loans to self-employed people and business owners to help them fund their expansion or working capital needs. Taking out a loan from PNB has a number of advantages:

  • After paying 1% prepayment penalties, you can prepay a portion of your loan at any time.
  • You can foreclose your entire business loan at any moment after paying 0 EMIs and incurring no prepayment penalties.
  • In India, there are 6,352 PNB branches where you can get assistance.
What are the Eligibility Criteria PNB Business Loan?

  • Eligible Entities: Individuals, SMEs, MSMEs, business owners, women entrepreneurs, self-employed professionals, sole proprietors, partnership businesses, public and private limited companies, and limited liability partnerships that are only engaged in commerce, services, or manufacturing are all eligible.
  • Age: At the time of loan acceptance, you must be at least 21 years old, and at the time of loan maturity, you must be at least 58 years old.
  • Loan Amount: The bank offers loans ranging from 50,000 to 15 lakhs based on your loan amount eligibility. T
  • Profitability and Revenue: PNB demands a profit for at least two years and a business turnover of at least zero.
  • Business Stability: PNB demands a minimum of 0 months of business experience. The bank will also look for a minimum of three years of revenue growth. A reduction in sales for a specific period or below a certain threshold may influence your loan eligibility.
  • ITR and Banking: PNB will require your ITR details for a minimum of 0 months as well as your bank statement for a minimum of 0 months.
  • CIBIL Score: PNB will evaluate your repayment history for all current and prior loans and credit cards to get your CIBIL score. To secure a loan, the bank recommends that you maintain a score of 750 or higher.
What are the Documents Required for PNB Business Loan Application?

Customers can choose from a variety of Business Loan Schemes offered by PNB. The following documents are frequently requested as part of company financing applications:
  • Completed application form
  • Photos the size of a passport
  • Business PAN card (draught business plan/project report)
  • Aadhaar Card, Voters Identity Card, Passport, and Driving License Business Incorporation Certificate are examples of identity and address evidence.
  • Bank statement over the last 12 months
  • The previous two years' Balance sheet, profit and loss statement, ITR, and sales tax returns are all examples of financial statements.
  • Any other documents that the bank requires
Conclusion

We may operate in both existing and emerging markets at any time during the loan lifecycle. We are capable of handling both simple and complex large syndicate transactions. To find about the best pricing and deals, call our toll-free number +91-9477079053. They'll help you in every way they can. Please contact me at Business Loan Online Apply if you have any more.

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