Punjab National Bank (PNB) has launched a new digital loan scheme called “DIGI PNB SHRAM SAATHI” for frontline community workers across India.
The scheme offers collateral-free loans of up to Rs 1 lakh to eligible existing PNB customers.
The bank says the initiative is part of the government’s “Vision Viksit Bharat@2047” mission focused on financial inclusion and support for low-income workers.
Who Can Apply for the Scheme?
The loan scheme is specially designed for skilled, semi-skilled, and unskilled workers employed in government departments, local bodies, and public sector units.
Eligible workers include:
Anganwadi workers and helpers
ASHA workers and health facilitators
Mid-day meal cooks and literacy mission workers
Sanitation workers and garbage collectors
Forest workers and fire watchers
Daily wage and contractual workers in PSUs like BHEL, GAIL, SAIL, and ONGC
PNB aims to help these workers get access to formal credit without depending on private lenders or high-interest borrowing.
Fully Digital Loan Process With Minimal Paperwork
One of the biggest highlights of the scheme is its completely digital application process.
According to PNB, customers can apply with minimal documentation and get end-to-end digital support.
The bank has also removed extra financial burden by keeping:
Processing fees: Nil
Documentation charges: Nil
Margin requirement: Nil
This makes the scheme easier and more affordable for workers who may not have access to traditional banking services.
Loan Amount, Interest Rate and Repayment Details
Under the DIGI PNB SHRAM SAATHI scheme:
Loan amount starts from Rs 10,000 and goes up to Rs 1 lakh
Current interest rate is 11%
Maximum repayment period is 36 months
Loan must be repaid before the borrower turns 60 years old
PNB is also offering group credit insurance for these loans, and the insurance premium will be paid by the bank itself.
Eligibility Criteria You Should Know
To apply for the loan, applicants must:
Be at least 21 years old
Have a KYC-compliant existing PNB account
Be gainfully employed
Have annual household income up to Rs 3 lakh
PNB says the scheme is meant to improve financial security for grassroots workers who play an important role in public welfare services across the country.
Speaking about the launch, Subodh Kumar, GM of Retail Asset Business Division at PNB, said the bank wants to empower frontline workers by giving them easier access to formal credit and reducing their dependence on informal lending sources.
