Personal loans are loans that you take from any bank to fulfil your personal needs or to make investments in different companies. Moreover, it can be used for any kind of purpose such as to build a house, to go on a vacation, to pay unexpected medical bills, or to buy a new appliance.
A personal loan is like a friend that provides you with financial assistance in your hour of need instead of having to ask for money from a friend or family.
How Much Amount Can You Get on Personal Loan?
BOP personal loan allows borrowing any amount from fifty thousand rupees (50,000) to one million rupees (1,000,000).
What Is the Length of the Tenure of the BOP Personal Loan?
The tenure of the bank of Punjab loan is from one year to five years.
Who Can Apply for BOP Personal Loan?
If you fulfil the following eligibility criteria, only then you are able to apply for the bank of Punjab personal loan.
- You should be between 19 to 59 years old.
- Your minimum gross salary should be at least 17500 Rs or more monthly.
- Whether you are from the federal, government, semi-government, or any provincial department with a salary account in the bank of Punjab, you are eligible for the loan.
- No minimum job experience is required to take the BOP personal loan.
What Are the Monthly Instalments for Loan Return?
You can simply use the BOP personal loan calculator to check how much you have to pay in monthly instalments. Following is the brief estimate of the instalments based on the bank of Punjab loan calculator:
- If you have taken 100,000 Rs in loan then you can opt any of the below given options:
- 9,651 Rs (per month) for one year
- 5,489 Rs (per month) for two years
- 4,136 Rs 9per month) for three years.
- Similarly, if you have taken 150,000 Rs in the personal loan, then you can pay back in the following options:
- 14,476 Rs (per month) for one year
- 8,233 Rs (per month) for two years
- 6,205 Rs (per month) for three years
- Moreover, even if you have taken 200,000 Rs in loan, you still have several options you can choose from to repay:
- 19,301 Rs (per month) for one year
- 10,978 Rs (per month) for two years
- 8,273 Rs (per month) for three years
So, using the bank of BOP personal loan calculator, you can choose the best-suited option for you to pay back according to your budget.
What Documents Are Needed to Apply for a BOP Personal Loan?
To apply for a bank of Punjab personal loan you need the following documents:
- 1 Computerized national identity card (CNIC) copy
- 1 latest salary slip
So, if you fulfil all the requirements and can pay the monthly instalments according to the bank of Punjab loan calculator, then fulfil your dreams and bring them to life.
We work on the customer satisfaction principles so you can expect friendly services from the start to the finish of the process.
