PNB Personal Loan: Taking a personal loan is often like taking a helping hand when life throws sudden expenses at us. Punjab National Bank (PNB), being one of India’s trusted banks, offers personal loans with flexible terms and transparent policies. Many people think about how much salary they should earn to qualify for such a loan, especially if they are looking for something like ₹9 lakh. Let’s break it down in the simplest possible way, so even someone new to banking can understand.
Salary Requirement for a ₹9 Lakh Loan
Banks usually check your monthly income before approving any loan. For PNB personal loan, the EMI should ideally not cross 40–50% of your monthly salary. That means if you want to borrow ₹9 lakh, your take-home salary should be enough to cover the EMI comfortably, while also leaving you money for other expenses.
At an interest rate of around 11% per annum (average for PNB personal loan) and a tenure of 5 years, the monthly EMI will be close to ₹19,500. This means your monthly income should ideally be ₹40,000 to ₹45,000 or more to get approval without stress.
EMI Calculation on ₹9 Lakh Loan
Here’s how the numbers look when we calculate the loan:
| Loan Amount | Interest Rate | Tenure | Monthly EMI | Total Payment | Total Interest |
|---|---|---|---|---|---|
| ₹9,00,000 | 11% | 5 Years | ₹19,562 | ₹11,73,720 | ₹2,73,720 |
This shows that by the end of five years, you will pay back almost ₹11.73 lakh, out of which about ₹2.73 lakh is the interest charged by the bank.
Why This Matters for You
Now, when you hear these numbers, it may sound a bit heavy, but think about it this way—this loan can help you fulfill immediate needs like a wedding, higher education, medical bills, or even consolidating old debts. The key is to ensure your income can handle this EMI smoothly, without creating unnecessary pressure on your monthly budget.
Conclusion
Taking a ₹9 lakh personal loan from PNB is possible if your monthly salary is around ₹40,000 to ₹45,000 or higher. The EMI of nearly ₹19,500 should not feel like a burden if you plan your finances carefully. Always remember, loans are not just about taking money from the bank—they are about committing to repay with discipline. So, if you calculate wisely and borrow within your limits, this loan can become a strong support in times of need.
Disclaimer: This article is for educational and general information purposes only. The exact EMI, salary requirement, and interest rate may vary based on PNB’s policies, your credit score, and other eligibility factors. Please confirm the latest details with the official bank before making any financial decision.