PNB Car Loan Interest Rate – Complete Guide & EMI Tips

Key Takeaways 
 

• The PNB car loan interest rate 2025 is linked to borrower profile, vehicle type, and tenure, following PNB’s risk-based pricing approach.
   
• You can make your EMI planning easier with the PNB car loan interest rate for 5 years, as even small rate changes affect the total interest significantly.
   
• PNB offers concessional pricing for select borrower categories under specific schemes.

The excitement of buying a car usually ends the day the first EMI message pops up on the phone. A quick check of the interest rate can save months of stress and help keep the EMI comfortable from the very beginning.

A PNB car loan allows borrowers to purchase a vehicle by paying the cost in monthly instalments. The interest rate on this loan is the extra amount paid to Punjab National Bank over and above the borrowed sum. Over long tenures, the interest rate influences the total repayment more than the loan amount itself.

For example, a ₹6,00,000 car loan for five years at 7.60% per annum leads to an EMI of about ₹12,100 and total interest close to ₹1.26 lakh. The same loan at 9.10% per annum raises the EMI to nearly ₹12,500 and increases the total interest to around ₹1.50 lakh, even though the car price remains unchanged.

Bonus Tip: Do you know? PNB’s NIRMAAN 2025 campaign offered car loans with rate concessions and zero processing fees for a limited period.

Types of Car Loans Offered by PNB

These loan categories form the core of PNB’s vehicle finance offerings, with rate concessions applied based on borrower profile rather than separate product variants.
 

Punjab National Bank offers car loans for both new and old vehicles with interest rates linked to RLLR and the borrower's credit profile.

PNB New Car Loan Interest Rates (Non-Electric Vehicles)

PNB offers both floating and fixed-rate options, with concessional pricing for select borrower categories.
 

This structure supports comparison between PNB car loan interest rate fixed or floating options based on repayment comfort.

PNB Old Car Loan Interest Rates (Non-Electric Vehicles)

Old car loan rates typically remain higher than those for new car loans due to the increased risk of vehicle age and depreciation.
 

PNB’s car loan structure combines defined loan categories with transparent, credit-score-linked interest rates. Clear differentiation between new and old car loans, along with fixed and floating rate options, allows borrowers to evaluate affordability and choose a scheme that aligns with repayment comfort and eligibility profile.

PNB Car Loan Processing Fees & Charges

Punjab National Bank publishes its car loan service charges under the retail advances fee schedule. These charges apply uniformly unless stated otherwise under a special scheme.
 

These charges are subject to change as per bank policy and are confirmed at the time of loan sanction.

How to Apply for a PNB Car Loan? 

The PNB car loan application process follows a structured approach that helps the bank assess borrower eligibility and repayment capacity. 

1. Check eligibility criteria such as age, income, and employment type on PNB’s official platform. 
2. Estimate EMI using the PNB car loan interest rate for 5 years to choose a suitable tenure.
3. Visit a PNB branch or use digital banking channels to initiate the application.
4. Submit personal details, income proof, and vehicle documents as required.
5. Loan terms, including the PNB car loan interest rate 2025, are shared after approval.
6. Disbursement takes place directly to the vehicle dealer.

This step-by-step process ensures transparency, proper evaluation, and timely disbursal of the PNB car loan.

Conclusion 

PNB car loans follow a transparent public-sector lending framework where rates depend on benchmarks and borrower profile. A clear understanding of schemes, charges, and categories, such as the PNB car loan interest rate for salary account and PNB car loan interest rate for senior citizens, helps borrowers plan repayments with confidence.

FAQs Related to PNB Car Loan Interest Rates

Q1. Does PNB charge stamp duty or extra fees on car loans?

PNB does not charge a processing fee for many car loan schemes, but stamp duty is a statutory charge decided by state laws. This cost is separate from bank fees and is usually applicable to loan agreements.

Q2. Which is better: an ICICI fixed-rate car loan or a PNB floating-rate car loan?

A PNB floating-rate car loan can become cheaper if interest rates fall, while an ICICI fixed-rate loan offers EMI stability. The better option depends on the rate outlook and personal comfort with EMI changes.

Q3. What should be done if PNB does not reduce interest after a repo rate cut?

Borrowers can raise a request with the PNB branch for a rate revision since floating loans are benchmark-linked. If no action is taken, escalation through the bank’s grievance mechanism is the next step.

Q4. What is the lowest interest rate offered on a PNB car loan?

The lowest PNB car loan interest rate for new cars currently starts from 7.60% per annum, as per the bank’s official retail advances interest rate table. The final rate depends on credit score, borrower category, and loan scheme.

Q5. Can the PNB car loan interest rate change during the loan tenure?

Yes. Most PNB car loans follow a floating interest rate structure linked to benchmark rates. The interest rate can increase or decrease during the tenure based on changes in the benchmark and bank policy.