Join WhatsAppPNB Personal Loan: Sometimes life’s goals or challenges are not small. Whether it’s arranging funds for a wedding, paying for higher education abroad, or consolidating multiple debts into one a ₹15 lakh personal loan from Punjab National Bank (PNB) can be a real solution. But before applying, the two big questions every borrower has are How much monthly salary do I need? and “What will my EMI look like?” Let’s break it down in a simple and clear way.
Minimum Salary Requirement
PNB generally requires a borrower to have a minimum salary of ₹20,000–₹25,000 to qualify for smaller personal loans. However, when you’re applying for a larger amount like ₹15 lakh, your monthly salary should ideally be ₹45,000–₹55,000 or more.
Why so? Because banks don’t just look at your income; they also check your existing EMIs, expenses, and whether you’ll still have enough left for daily living. The safer your financial profile, the higher your chance of getting approval.
EMI Calculation for ₹15 Lakh Personal Loan
Now, let’s calculate the real numbers. Suppose you borrow ₹15,00,000 for a period of 5 years (60 months). PNB’s personal loan interest rates usually range between 11% and 14% per annum. Here’s how the repayment may look:
| Loan Amount | Interest Rate | Tenure | Monthly EMI | Total Interest | Total Repayment |
|---|---|---|---|---|---|
| ₹15,00,000 | 11% | 5 Years | ₹32,785 | ₹4,67,100 | ₹19,67,100 |
| ₹15,00,000 | 12% | 5 Years | ₹33,368 | ₹5,02,080 | ₹20,02,080 |
| ₹15,00,000 | 14% | 5 Years | ₹34,840 | ₹5,90,400 | ₹20,90,400 |
So, depending on the interest rate offered, your monthly EMI will range between ₹32,700–₹34,800.
Why Salary and EMI Balance Matters
Imagine earning ₹50,000 and paying an EMI of nearly ₹34,000. That leaves very little for rent, groceries, bills, and emergencies. This is why banks also calculate your FOIR (Fixed Obligation to Income Ratio). In simple terms, they want your EMI burden to stay within 40–50% of your monthly salary. That’s why a higher income ensures you can handle the loan comfortably without financial stress.
Conclusion
A ₹15 lakh personal loan from PNB can provide major financial support for life’s big needs. With interest rates ranging between 11% and 14%, your EMI will come to around ₹33,000 per month. To comfortably afford it, your salary should be at least ₹45,000–₹55,000 or more. Loans can be a powerful tool when taken after proper calculation and planning but without preparation, they can quickly become a burden.
Disclaimer: This article is only for educational and general awareness purposes. Loan eligibility, EMI, and interest rates may vary depending on Punjab National Bank’s official policies, your credit score, and financial profile. Please check the latest details from PNB’s official website or visit the nearest branch before making any financial decision.