Objective To make available Loan for purchase of car by proposed car buyers on attractive terms.

To purchase:

New Car/Van/Jeep/Multi Utility Vehicle (MUV) or Sports Utility Vehicles (SUV).

Old car/van/jeep/MUV/SUV, which are not older than three years.

Reimbursement of cost of new Car/ Van/ Jeep/ Multi Utility Vehicle (MUV) or Sports Utility Vehicle (SUV) purchased by individual/ corporate out of own funds. (Not more than 3 months old).


For private use only.


Business concerns (corporate or non-corporate).

For reimbursement of cost of new vehicle purchased by individual/ corporate out of own funds.

Income Criteria

Minimum net monthly salary / pension/ income - Rs.20000/-.

Income of Parent(s)/Spouse/ Earning Children can be added for determining loan amount/eligibility. However, out of above income of only one person can be added and he/she will stand as a co-borrower.

Quantum of Finance

For individuals/Proprietorship concerns: Rs. 100 lac or 25 times of Net Monthly Salary / Pension/ Income, whichever is lower. Loans for higher amount may be considered on merits of the case.

For Business Concerns (Corporate or Non-Corporate): No ceiling of loan amount (for one or more vehicles).


For New Vehicle: 15% of on-road price inclusive of one time road tax & insurance.

For Car where PNB has tie up arrangement with manufacturers/dealers: 10% of on-road price

Click here Tie Up With Car Manufacturers At All India Level

For Old Vehicles: 30% of the value of the vehicle.

For reimbursement of cost of new vehicle purchased by individual/ corporate out of own funds: 25% of on-road price.

Security Vehicle purchased to be hypothecated to the bank.
Guarantee/ Collateral Security

Third party guarantee / collateral security is waived in following cases:

1. Permanent employees of Central Govt./ State Govt./ PSUs/ MNCs/ Listed Companies at BSE or NSE (whose Shares are actively traded and quoted above par).

2. For other than salaried class borrower(s) where ex–showroom cost of the car is exceeding Rs 6.00 lakh For all other cases Third Party guarantee/ Collateral Security acceptable to the Bank.

Repayment (Maximum)

For New Car/Van/Jeep/MUV/SUV: 84 EMIs

For Old Car/Van/Jeep/ MUV/SUV: 60 EMIs

In case of persons engaged in agriculture & allied activities: At Half yearly/yearly intervals coinciding with the time of harvest.

Prepayment Charges

Floating Rate: NO pre-payment charges.

Rate of Interest


Women, PNB PRIDE & Corporates (Under floating rate)

Irrespective of CICs score

RLLR + 0.60%

Others Individual(Floating)

CIC Score 750 & above

RLLR + 0.60%

CIC Score 700 and up to 749

RLLR + 0.80%

CIC Score less than 700

RLLR + 1.05%

Processing Charges/ Upfront fee Click Here
Documentation Charges Click Here

Above are only salient features of the scheme. For details please contact nearest branch

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