What details you should know about PSB Personal loan?
Punjab and Sindh is an PSU bank offering various financial products. One of those products is the PSB Personal loan about which we will talk today. If you are looking for instant loan, it could be a great choice due to low processing fee and competitive fee.
We will check out the details such as the loan amount, interest rate, etc. Once you know them, applying for it will become easy.
PSB Personal Loan
PSB Personal loan is available at competitive interest rate with a longer loan tenure. It require minimal documents to apply.
Features:-
- The instant loan amount is offered up to Rs 3 lakhs.
- The interest rate starts at 11.10% per annum.
- The loan tenure is up to 5 years.
- The processing charge is Rs 2500, irrespective of the loan amount.
- The documentation charge is NIL for up to Rs 2 lakhs. For above Rs 2 lakhs, it is Rs 2500.
Why you should choose PSB Personal loan?
- PSB personal loan is offered with affordable interest rate.
- PSB offers a great loan amount. For pensioners, it could go up to 15 times of the monthly pension.
- The loan tenure is flexible from 1 year to 5 years depending upon the loan amount.
- If a pensioner maintain an account with PSB, there might be special rate available for the pensioner.
- The PSB personal loan is a multipurpose loan. You could use it for paying education fee, wedding expense, etc.
- The processing fee is very nominal 1% of the loan amount.
- Depending upon the borrower, you may or may not have to present a collateral to get the loan.
What is the eligibility criteria for PSB Personal loan?
- The borrower should be a permanent employee in an institution.
- The borrower age should be minimum 21 years.
- For pensioners, the minimum age requirement is 70 years.
- A pensioner need to present a collateral to get the loan.
- The applicant should have an ideal CIBIL score.
Required Documents for PSB Personal Loan
You will need these documents upon applying for the loan.
- The loan application form
- Passport size photographs
- Identity proof- Aadhar card, PAN card, Voter ID card, Driving license, Passport
- Address proof – Rent agreement, Utility bill, telephone bill, water bill, electricity bill
- Processing charge cheque
- Bank statement for the last 3 months
- Salary slip
- Form 16 with current date salary certificate
Comparing PSB Personal Loan with Other Lenders
| Comparison Criteria | Punjab & Sind Bank | Axis Bank | HDFC Bank | Citibank | Bajaj Finserv |
| Tenure
|
Up to 5 years | Up to 5 years | Up to 5 years | Up to 5 years | Up to 5 years |
| Loan amount | Up to Rs. 3 lakh | Rs. 50,000 to Rs. 15 lakh | Up to Rs. 40 lakh | Up to Rs. 30 lakh | Up to Rs. 25 lakh |
| Processing Fee | 1% of the loan amount | Up to 2% of the loan amout | Up to 2.50% of the loan amount | Up to 3% of the loan amount | Up to 4.13% of the loan amount (including |
| Interest Rate | 11.10% onwards | 12-24% | 10.75-21.30% | 10.50% onwards | 12.99% onwards |
Punjab and Sindh Personal Loan Customer Care Number
For any query, contact Punjab and Sindh personal loan customer care number at 1800 419 8300. It is a toll free number.
How to apply for PSB personal loan?
Afinoz.com is an online financial marketplace where you can easily apply. Sign up, fill out the form and submit the loan documents. The process is easy and quick.
Conclusion
PSB personal loan offers a great deal for an instant loan. However, do make sure, you have read the document properly before applying.
