Comparing Two Top Lenders loan: PNB Personal Loan And ICICI Personal Loan

Personal loans became popular because they are easy to get, do not require collateral to apply, and have multiple benefits. One of those benefits is that many lenders, from banks to NBFCs, offer it. 

Upon facing a financial issue, getting a quick loan is a natural choice. However, when you are looking for a lender, the question is which lender you should choose. So, if you are looking for a lender, we have made it easy for you. Today, we will check out two reliable banks offering personal loans. They are Punjab National bank and ICICI Bank. 

PNB Personal loan

PNB Personal loan could fulfill the financial requirements you have. It could be used for multiple purposes. It does not require collateral, needs minimal documentation, and have easy repayment options. 

  • The loan amount is offered up to Rs 15 lakh.
  • The rate of interest starts at 8.95% per annum.
  • The loan tenure is up to84 months. 
  • The processing fee is 1% of the loan amount. 
  • The foreclosure charge is NIL. 
  • The documentation charge is up to Rs 500. 

The eligibility criteria for PNB personal loan

  • The applicant’s minimum age limit is 21 years, and the maximum is 65 years. 
  • The applicant should have a minimum of 2 years of work experience or business continuity. 
  • For metro cities, the minimum salary should be at least Rs 15,000 per month. For Rural centers, it is Rs 10,000 monthly.

The documents requirement for PNB Personal loan

  • The application form
  • Passport size photograph
  • Identity proof – Aadhar card, PAN Card, Voter ID card, Driving license
  • Address proof – Lease agreements, electricity papers, telephone bill
  • Education qualification proof
  • Income proof
  • Salary proof
  • For 16
  • ITRs
  • Proof of continuity of business  

Types of PNB personal loans

  • Personal loan for public
  • PNB Doctor’s delight
  • Personal loan for pensioners

PNB Customer care number

To make a query or ask a question, you can contact the PNB customer care number. It is 1800 182 2222 and 1800 103 2222.  The email address is

How to apply for PNB personal loan

To apply, you could go to PNB Official website to do it. Visiting the nearest PNB branch will also be a good thing if you are not comfortable applying online. Now, let’s check out ICICI personal loan. 

ICICI Bank personal loan

ICICI Bank personal loan is one of the best choices due to its instant e-approvals, no collateral needed, and paperless approval process. 

  • ICICI offers a loan amount up to Rs 20 lakhs. 
  • The rate of interest ranges from 10.99% P.A and 18.49% P.A
  • The processing fee is up to 2.25% of the loan amount. 
  • The prepayment charge is 5% per annual of the principal loan amount. 
  • The personal loan tenure is from 1 year to 5 years. 

Fee & other charges

  • The loan EMI bounce charge is Rs 400 per bounce. 
  • The loan cancellation charge is Rs 3000. 
  • The loan duplicate foreclosure statement charge is Rs 200 per schedule. 
  • The no due certificate charge is Rs 500 per NOC.
  • The late payment charge is 24% per annum. 
  • The repayment mode swap charge is Rs 500 per transaction. 

Type of ICICI bank personal loan

  • Wedding loan
  • NRI personal loan
  • Home renovation loan
  • Holiday loan
  • Top up loan
  • Fresher funding 

ICICI Personal loan eligibility criteria

  • The applicant’s age ranges from Rs 23 years and 58 years. 
  • The applicant should have a minimum of 2 years of work experience. 
  • The net salary should be at least Rs 17,500 per month. For Delhi and Mumbai, it is Rs 25,000 monthly. 
  • The applicant should have been living in the current residence for at least 1 year. 
  • The applicant should be a salaried individual or self-employed professional. 
  • For a self –employed, the minimum turnover should be at least Rs 40 lakhs per annum. 
  • The applicant should have a minimum 1-year liability relationship with ICICI bank. 

Documents required for ICICI personal loan

  • Proof of Identity – Aadhar card, PAN card, Passport, Driving license
  • Proof of address – Lease agreement, Utility bill, Telephone bill
  • Bank statement for at least 3 months
  • Salary slips for the last 3 months
  • Passport size photographs 
  • Proof of office address 

How to apply for ICICI Bank personal loan? 

To apply for ICICI personal loan, download its app from the Google play store. You can also go to a nearby branch to do the same. 

Comparing and conclusion

Now, PNB personal loan offers a lower interest rate, but ICICI has a higher loan amount. Though, the eligibility criteria for PNB are much more comfortable to qualify. It Is up to you to choose whichever lender you want as per your loan amount needed.

Read More: Top 5 lenders offering the best personal loan in India