Four-Wheeler / Passenger CarPublic Sector Bank (PSU)All Eligible Borrowers🌱EV Concession AvailableVerified: 2026-09-29

PNB Saarthi Car Loan Scheme

Primary Lending Institution:Punjab National Bank (PNB)

Up to 85% On-Road vehicle finance at 8.75% – 9.75% with Up to 7 years tenure.

Interest Rate8.75% – 9.75%Fixed or floating per bank

Funding QuantumUp to 85% On-RoadOn-road / Ex-showroom

Maximum TenureUp to 7 yearsUp to 84-96 months

Margin / Down Payment15%

What's Missing: Crucial Fine-Print & Exclusion Gaps

Requires vehicle registration hypothecation with Regional Transport Office (RTO). Minimum income criteria applies.

Note: Eligo highlights these exclusions directly from RBI guidelines and auto loan MITCs to protect car and bike buyers from surprise dealership charges, non-negotiable insurance markups, and prepayment lock-ins.

What is PNB Saarthi Car Loan Scheme?

Standard car loan linked to PNB RBLR.

Key Benefits & Features

Up to 85% On-Road; competitive rates; flexible tenure up to Up to 7 years.

Green Electric Vehicle (EV) Incentive Details

Concessions applicable if EV variant

Borrower Eligibility Criteria

Age 21–70 years, minimum income ₹20,000/month, clean CIBIL.

Age Requirement21 to 70 Years

Min. Monthly Income₹20,000

Processing Fee0.25% + GST

Prepayment TermsNil prepayment penalty on floating rate loans as per RBI mandate

How to Apply (3 Verified Paths)

📱Path 1: Existing Customers (App)

Apply online at https://www.pnbindia.in or mobile banking app.

🌐Path 2: Fresh Online Portal

Apply online with digital KYC at https://www.pnbindia.in.

🏢Path 3: Bank Branch / Auto Dealer

Visit dealer showroom or lending branch with proforma invoice.

Eligo does not collect auto loan applications or share applicant leads with dealerships. Apply directly on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Aadhaar Card, PAN Card, Salary slips or ITR, Bank statement for 3-6 months, Vehicle proforma quotation.

Frequently Asked Questions

What is the maximum loan tenure for PNB Saarthi Car Loan Scheme?

Borrowers can avail repayment tenure of Up to 7 years.

What are the processing charges and margin money for PNB Saarthi Car Loan Scheme?

Processing fee: 0.25% + GST. Margin money required from borrower: 15%.

What documents are required to apply for PNB Saarthi Car Loan Scheme?

KYC documents (Aadhaar, PAN), income proof (salary slip or ITR), 3 months bank statements, and dealer vehicle quotation.

What is the eligibility criteria for PNB Saarthi Car Loan Scheme?

Applicants must be between 21 and 70 years with minimum monthly income of ₹20,000 and CIBIL score of 680+.