Punjab And Sind Bank Personal Loan @ 11.5% | Eligibility, Highlights, EMI Calculator, Documents Required

Punjab And Sind Bank Personal Loan: Punjab And Sind Bank were mobilised on 15th April 1980. It was not the only bank mobilised on the 15th, but four other banks were also there when it was mobilised. The Availability of personal loans of Punjab and Sindh are usually meant for the benefits of blue-collar and old-age pensioners. The PSB personal loan is the brand name for the Punjab and Sikh bank personal loans. The eligibility criteria for these personal loans, which the banks set, are based on some major categories like employment of the individuals, the relationship of participants with the bank, age of the individual, etc. In this post, you will get to know the process of getting a personal loan from Punjab and Sind bank.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

Punjab And Sind Bank

Eligibility Criteria for Punjab And Sind Bank Personal Loan

Salaried individuals and senior citizens receiving pensions are the applicants who are eligible for these personal loans. To be eligible for the loans, the salaried individuals can be from any of the following :

The individual can be an employee of any government sector or any permanent employee of any reputed institution.

Age Of The Eligible Applicants:

It is one of the most important criteria for the eligibility of these loans. The age of the

The individual is a major factor that decides the required or allowed amount of loans. The qualified age of each category of the applicant for the loans by the bank’s restriction is below:

Age restrictions of employees working in any government PSU:

 the minimum eligible age for the participant working in the government sector is 21 years, while the maximum age for a similar applicant is 60 years.

Age restriction of the salaried individual working in any private sector:

The minimum eligible age for the participant working in the private sector is 21 years, while the maximum age for a similar applicant is 65 years.

Age restrictions for the old age pensioners:

70 years.

Relation with the bank:

The pensioners should have a pension account with the bank. There is no need on account of salaried applicants.

The purpose of loan :

Keeping aside the eligibility of the applicant, the purpose of the loan is specified by the bank. The bank account gives official permission for the loan. For a personal loan, PSB specifically excludes the applicants for being eligible for getting a personal loan from the bank.

Documents Required for PSB Personal Loans

KYC documents and income-related documents are required to get a personal loan from the bank, and these documents should prove the applicant’s eligibility to proceed further. With these documents are mandatory documents required for PSB personal loans are listed below :

Proof of Identity

The following documents listed below reading to our identity for applicants are :

  • Passport
  • Adhar card
  • Voter ID
  • Driving license
  • proof of address
  • Utility bills (latest bills)
  • Rent agreement / Sale Deed of house

Proof of Income

Following applicant are required for proof of income of applicant are :

  • For salaried applicants
    • Latest salary slips
    • From 16
  • For pensioners
    • Pensioners slips
    • The latest statement of the bank shows details of the credit of pensioners.

statement of the bank:

A statement from the bank from the past six months is required. Latest passport size photos are also required.

Punjab And Sind Bank Personal Loan Highlights

PSB provides personal loans at a very affordable rate of interest and provides repayment of the tenure. This is the most favoured product in the segment because of the feature it provides. following are the main highlights of the Personal loans are listed below

loan amount :

for salaried person

  • Monthly salary up to 18 months
  • Annual income up to 1.5 Times
  • Rupees 3 lacs

For the pensioners: the age group of 65 years

  • monthly pension up to 15 times
  • rupees3 lakhs
  • The age group of 65 and up to 70 years
  • monthly pension up to 10 times
  • rupees 1 lacs

interest rate: 11.5% annually

Tenure : Five years (approx. 60 months)

Processing fee : 1% amount of the total loan

Guarantee :

the following can be provided as a guarantee are listed below :

  • Eligibility age of the applicant
  • third party
  • Mutually guaranteed
  • Spouse guarantee
  • Major son

The specific meaning of a personal loan: It’s a category of loan that doesn’t require collateral or security, and you can get it with minimum documentation, and it is required to fulfil our expenses. It can include rent expenses, medical or any other type of expenses. It is a type of unsecured loan and has vast eligibility criteria for work and benefit from this.

Eligibility Calculator of Personal Loan

The term “personal loan equated monthly instalment calculator” is a type of application available on almost every side of every bank. It helps the applicant to get an estimated amount of personal loan. Every person can get it on behalf of eligibility for reverse this tool doubles

EMI Calculator

Following are the calculators needed for the input of personal loan are listed below :

  • applicants age
  • applicants monthly income
  • Applicants monthly expense
  • Amount of loan
  • Interest rate
  • Loan tenure

Punjab Bank and Sind Bank Loan Overview

Bank of Punjab and Bank of Sindh are prominent public sector banks in India whose headquarters are located in India’s capital. The bank provides awards with a segment of Corporate and retail segments like MSM agriculture awards digital priority International and many segment seasonal loan services. Almost every segment of Karta to fulfil their customers needs all the requirements personal nature of the personal loan. These proceed As Quick As Possible and excessive documentation is not required.

FAQ’s on Punjab And Sind Bank Personal Loan

Question 1.
Does Punjab and Sind Bank approve self-employed persons for personal loans?

Answer:
Personal loans are not approved for a self-employed person from Bank of Punjab and Bank of Sind.

Question 2.
Does the Bank of Punjab and Bank of Sindh provide personal loans to a person who does not have an account on any of these banks?

Answer:
Anyone can not get a personal loan from Punjab and Sind Bank if they do not have an account on these banks. There is no such way of salaried employees whether they are in the public or a government.

Question 3.
Factors responsible which usually influence the Eligibility of a person personal loan from Punjab and Sind Bank?

Answer:
Following are the factors which usually influence the Eligibility of a personal loan of any persons are listed below:

  • applicants age
  • applicants income
  • applicants credit score
  • relation with the bank
  • experience of work
  • status of employment
  • liabilities

Question 4.
Does Punjab Sind Bank account for personal loans if they are applied from any of the online modes?

Answer:
Yes, you can apply for a personal loan through online mode. These modes are listed below:

  • internet banking
  • website of the Punjab sind bank
  • mobile banking

Question 5.
What’s the toll-free number of the Punjab Sind Bank for any queries related to personal loans?

Answer:
1800 4198 300 this is the toll-free number of Punjab Sind Bank for any queries related to personal loans.

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