Disclaimer: Punjab and Sind Bank is not a Paisabazaar partner for personal loans and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Punjab and Sind Bank for personal loans. No offers/services from Punjab and Sind Bank are being provided by Paisabazaar for personal loans. For further information about Punjab and Sind Bank for personal loans, users are required to reach out directly to Punjab and Sind Bank.
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Punjab & Sind Bank Personal Loan Highlights |
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| Interest Rates | 11.25%-14.00% p.a. |
| Loan Amount |
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| Tenure | Up to 6 years |
| Processing Fee | 0.50%-1% |
| Prepayment Charges | NIL |
Note: Rates as of 19th November 2024
Punjab & Sind Bank Personal Loan Interest Rates
For Employees of Government/PSU/Approved Educational Institute and Pensioners- Tie up or salary account with the bank
| CIBIL Credit Vision Score | Interest Rate (p.a.) |
| 825 and above | 11.25% |
| 768-824 | 11.60% |
| 753-767, -1,3,4,5 | 11.95% |
| 732-752 | 12.15% |
| 690-731 | 12.50% |
| 641-689 | 13.05% |
Employees of Government PSU/Pensioners/Approved Educational Institute
| CIBIL Credit Vision Score | Interest Rate (p.a.) |
| 825 and above | 11.25% |
| 768-824 | 11.60% |
| 753-767 | 11.95% |
| 732-752 | 12.15% |
| 690-731 | 12.50% |
| 641-689 | 13.05% |
Private Employee/MNC-Other
| CIBIL Credit Vision Score | Interest Rate (p.a.) |
| 825 and above | 12.15% |
| 768-824 | 12.20% |
| 753-767 | 12.40% |
| 732-752 | 12.70% |
| 690-731 | 13.50% |
| 641-689 | 14.00% |
| Pre-approved Personal Loan (PAPL) | 12.00% |
Comparison of Personal Loan Interest Rates of Top Lenders
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.85% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 11.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 14%-36% | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Also know the best bank/NBFC for personal loan
Types of Punjab & Sind Personal Loan
For Salaried Individuals
- Purpose: Regular personal loans for meeting the personal financial requirements of government/PSU employees and confirmed employees of other institutions.
- Loan Amount: Up-to 18 times monthly net salary/1.5 times of Net Annual Income or Rs.3 lacs, whichever is less
- Tenure: Up to 5 years subject to maximum age criteria, whichever is earlier
Also know about personal loan for salaried individuals
For Pensioners
- Purpose: Pension loans for pensioners having their pension account with Punjab & Sind Bank to fulfill their personal requirements
- Loan Amount: Up to 15 times monthly net pension or Rs.3 lacs, whichever is less for pensioners up to the age of 65 years and up to 10 times monthly net pension or Rs.1 Lac, whichever is less for pensioners above the age of 65 years and up to the age of 70 years
- Tenure: Up to 5 years subject to maximum age criteria, whichever is earlier
Processing Fees and Charges
| Government/Pensioner/PSU/Approved Educational Institute | 0.50% + GST |
| Private Institute/MNC | 1.00% + GST |
| Documentation Charges | Actual Stamp/Revenue Expenses only |
| Inspection Charges | NIL |
| Prepayment Charges | NIL |
Also know the processing fees for personal loan charged by top personal loan lenders
Punjab and Sind Bank Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Apply for Personal Loan with Quick Disbursal Click Here
Eligibility Criteria for Punjab & Sind Bank Personal Loan
- The applicant should have the salary/pension account with the bank to avail a personal loan
- Age: For Salaried: 21-60 years For Pensioners: 21-70 years
Punjab & Sind may also consider the monthly income and credit score of its personal loan applicants just like other lenders do while setting their personal loan eligibility.
Documents Required for Personal Loan Application
- Completely filled and signed application form with 2 passport sized photographs
- ID Proof
- Address and Age Proof
- Income Proof:
For Salaried:
- ITR Form 16 for past 3 years
- Original/certified copy of latest salary slips for last 3 months
- Statement of personal asset and liability
- In case of other bank, bank account statement for past 6/12 months
- Statement of loan account for past 6 months
- Bio-data of the applicant with age, educational qualifications, job experience, nature of business/profession with vital proofs
- Income proof of parents/spouse/earning children to determine the loan amount/repaying capacity of the loan applicant
- ITR of guarantor for last 2 years
- Guarantor’s form along with income proof/net worth proof
- An undertaking letter by the employer for remittance of EMI
FAQs
1. I do not have a pension account with Punjab & Sind Bank? Can I avail personal loan from the bank?
Ans. Pensioner not having their pension account with Punjab & Sind Bank cannot avail personal loan from the bank.
Also Check: Personal Loan Interest Rates Offered by Top Lenders to Pensioners
2. Can I opt for floating or fixed rates of interest while applying for Punjab & Sind Personal Loan?
Ans. Punjab & Sind Bank offers personal loans at floating rate of interest only.
3. At what credit score can you avail Punjab & Sind Personal Loan?
Ans. The applicants with credit score above 640 can avail personal loan from Punjab & Sind Bank.
4. Do you need any security or guarantors while applying for Punjab & Sind Bank Personal Loan?
Ans. The applicants need to provide third party guarantee/mutual guarantee/guarantee of spouse/major son while applying for Punjab & Sind Bank Personal Loan.
5. Can self-employed individuals avail personal loan from Punjab & Sind Bank?
Ans. Punjab & Sind Bank offers personal loans to salaried individuals and pensioners only.
6. Can I prepay the personal loan availed from Punjab & Sind Bank?
Ans. Yes, you can prepay the personal loan availed from Punjab & Sind Bank without paying any prepayment charges.
7. Does Punjab and Sind Bank offer preferential interest rates to Government/PSU employees?
Ans. The interest rates of personal loans offered to government employees by Punjab & Sind Bank is about 100 bps (i.e. 1%) lower than those offered to employees working with private sector/MNCs.