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Punjab National Bank provides personal loans at a competitive rate of interest which do not require any tangible security. The loans offered by Punjab National Bank are for the tenure of 60 months with a flexibility to prepay the loan without any prepayment penalty and reduce the loan tenure. If you are willing to pre-close the Punjab National Bank Personal loan, then you need to the individual need to follow the procedure provided by the bank for the loan closure. This procedure is explained by the bank when the individual asks for it.
How to Close PNB Bank Personal Loan through Creditseva
Creditseva is going to provide you with all the important guidelines to be followed for the proper closure of a Punjab National Bank Personal Loan. With the help of Creditseva, you will be able to experience a real-time loan closure platform and get the best offers from banks so that you can make the payments directly to the banks and close the loan in an appropriate way.
Important Points While Closing a Punjab National Bank Personal Loan
If you are planning to close your Punjab and National Bank personal loan, the given below steps are to be followed.
1. Easy Availability of Personal Loan Account Details: The personal loan account details should be easily available to the borrower whenever he has decided to close the personal loan.
2. Documents: A set of certain documents have to be kept ready by the borrower when he plans to close the personal loan from Punjab National Bank. The list of documents include the number of your loan account, ID Proof and a DD
3. Pre-Closure Acknowledgement: After completing the pre-closure process, the borrower will receive the acknowledgement for the pre- closure of the personal loan.
4. Quotation of Closure: Whenever an individual decides to close a personal loan, it is important to ask the bank for a quotation that would be charged for the personal loan closure.
5. The acknowledgement letter is of great use. It acts as a proof that you have properly closed your Punjab National Bank personal loan.
Steps for Closing a Punjab National Bank Personal Loan
Prior to the closure of your Punjab National Bank Personal Loan, you need to keep a check on all the particulars that have been included in the agreement of the personal loan. If you follow the below-given steps, you will be able to close your personal loan in the right manner.
1. A call has to be made to the customer care number of the bank or you can also visit the bank in person, so that you can check with the bank about the procedure that is going to be followed by the bank for the personal loan closure.
2. In the second step, you need to check with which branch of the bank you should be approaching for the loan closure.
3. Check with the bank for the penalty charges that would be applicable for the personal loan closure.
4. An entire list of all the necessary documents has to be kept ready if you are intending to close the personal loan. Following is the list of all the important documents.
- Amount of loan amount that is to be paid
- ID Proof and its Xerox Copy.
5. Your EMI for every month should be checked while you have made the planning for closing your personal loan.
6. After the execution of all the steps in the personal loan closure, a letter of acknowledgement is given to you by the lender.
Punjab National Bank Personal Loan Closure FAQ’s:
1. Is it allowed to pre-pay the Punjab National Bank Personal Loan?
Yes. It is allowed to prepay the Personal Loan from Punjab National Bank
2. When is the prepayment allowed for Punjab National Bank Personal Loan?
The Prepayment of Punjab National Bank personal loan can be as and when the individual wants it to be done.
3. What are the pre-closure charges of Punjab National Bank Personal Loan?
There are no pre-closure charges for the pre-closure of a Punjab National Bank Personal Loan.
4. How will I receive the Statement of Foreclosure for the Punjab National Bank Personal Loan?
The foreclosure statement for the Punjab National Bank Personal Loan can be received in approximately 3-4 days after requesting for it.
5. How is the foreclosure amount of a Punjab National Bank Personal Loan calculated?
The foreclosure amount of a Punjab National Bank can be calculated by taking into consideration the EMIs that have been paid till now and the month in which the foreclosure of the personal loan was requested.
6. When can the prepayment of the Punjab National Bank Loan be done?
A Punjab National Bank Personal Loan can be done after zero EMIs.
7. What are the penalties for the prepayment of Punjab National Bank?
The prepayment of Punjab National Bank can be done without any penalty for the prepayment.
Personal Loan Closure By Banks
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