Punjab and Sind Bank Personal Loan 2022

Punjab and Sind Bank offer the best personal loans at competitive interest rates. The loan can be availed by pensioners and salaried individuals of any amount ranging between 1 lakh and 3 lakhs. The repayment tenure is quite flexible which ranges from 12 months to 60 months. Furthermore, the interest rate starts from as low as 12.75% p.a. for Punjab and Sind Bank personal loan.

Read More: Punjab and Sind Bank Personal Loan Interest Rate

Eligibility for personal loans in PSB depends upon various factors as follows:

• Age limit: Minimum 21 years and Maximum:
  • For Salaried Class: 60 years (Govt. /PSU)
  • For Salaried class (private): 65 years
  • For Pensioners: up to 70 years
• The list of individuals eligible to apply for Punjab & Sind Bank personal loan:
  • Govt. /PSU employees or Confirmed/Permanent/Regular Employees of other institutions 
  • Pension Class: Pensioners having their pension account with Punjab & Sind Bank
• Quantum of the loan: For salaried individual’s the maximum amount of loan sanctioned is 18 times their net monthly salary/1.5 times of the Net Annual Income or Rs.3 lakhs, whichever is less.
• Guarantor: Third party/ mutual guarantee/ guarantee of spouse/ son are acceptable to avail personal loan from Punjab & Sind Bank
• CIBIL score: Credit score is an important factor for approval of your loan. Usually, an applicant’s credit worthiness is determined by evaluating his credit score i.e. CIBIL / EXPERIAN score. Loan applications of applicants having poor credit score may get rejected. It’s always advisable to keep on updating your credit score every now and then. If you have a bad credit score and somehow your loan application gets approved, you might be asked to pay a high rate of interest and be offered unfavorable terms and conditions on your loan as compared to someone who has an excellent credit score.

For obtaining the maximum amount of personal loan from Punjab & Sind Bank, a borrower should produce the following documents according to their business profiles as follows:

List of Common Documents

• Duly signed an application form
• Passport sized photographs
• A copy of Identity Proof: Passport/PAN Card/Voters ID card/Driving License etc
• Copy of Address Proof: Ration card/Driving License/Voters ID card/Passport/Telephone Bill/Electricity Bill
• Processing fee cheque
• Banks statement of last 3 months/6 months bank passbook

Documents Required for Salaried Individuals

• Latest salary slip
• Current dated salary certificate with the FORM - 16

Documents Required for Self-Employed Individuals

• Bank statement (Latest)
• ITR or Form - 16 (Latest)

Punjab & Sind Bank has attractive features and benefits from easy loan approval to higher loan amount with flexible loan tenure. Here are some features and benefits of Punjab & Sind bank personal loan:

• Affordable rate of interest: Punjab & Sind Bank offers competitive interest rates. Moreover, pensioners are provided the best reasonable rate of interests
• High loan quantum: You can get a high loan quantum of up to 18 times your net salary and up to 15 times the net monthly pension for pensioners
• Flexible Repayment Options: You can choose a tenure of up to 12 to 60 months to repay your Punjab & Sind Bank Personal Loan
• Personal Loan for Pensioners: For pensioners who maintain a pension account with Punjab & Sind Bank, the personal loan is offered at a special rate of interest
• Multipurpose Personal Loan: Punjab & Sind Bank Personal Loan can be used for any genuine personal credit need including educational expenses, wedding expenses, travel costs and to meet the expenses of emergency medical needs
• Nominal Processing Fee: Borrowers will be charged a nominal processing fee of 1% of the total loan amount

Why should you apply for Punjab & Sind bank Personal Loan through Afinoz.com?

Afinoz.com is one of India's leading personalized financial marketplace. It has created a personal loan platform that lets you choose the best personal loan from the multiple options available to you. All the options are system generated taking into consideration your specific needs and requirements.

• Instant Approval – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 days.
• Real-time application tracking – Keep track of the application status in real-time with a unique transaction id.
• Online eligibility check - Do all your dealings with the bank online. Provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Punjab & Sind Bank for your personal financing.
• Secure Environment - Afinoz.com has built-in security for your personal information which is stored in a secure environment in our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secure.
• 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to the bank to discuss loan specifications with bankers.
• No third-party agent – Afinoz.com online loan application process is absolutely free. Through Afinoz one can directly approach multiple banks online without involving any agent and therefore avoiding unnecessary delays and hassles.
• Free quotations – Get online deals on Punjab & Sind bank personal loans and free unbiased quotes of the best personal loan rates. All you have to do is select the loan amount you want to borrow and the tenure of the personal loan. You will get a targeted online quote within minutes of application.