Punjab and Sind Bank Personal Loan 2021

Multiple banks are offering personal loans to their customers. Punjab and Sind Bank commonly known as the best personal loan in India offering an interest rate of 12.75% p.a. It also offers flexible tenure of up to 60 months to particular salaried individuals and pensioners. For more details read the article and avail of the loan at low-interest rates.  

Punjab and Sind Bank Personal Loan Overview 

Interest Rate	Salaried Individual: 13.55% p.a. onwards   Pensioners: 12.8% p.a.
Loan Amount	Up to Rs. 3 lakh
Processing Fee	1% of the loan amount

Features and Benefits of Punjab and Sind Bank Personal Loan  

Listed below are the features and benefits of Punjab and Sind Bank Personal Loan: 

• Personal Loan for Retirees: A preferential interest rate is available for pensioners who maintain a pension account with Dena Bank. 
• Punjab and Sind Bank offers a multipurpose personal loan: A personal loan can be used for any legitimate personal credit need, such as college fees, wedding expenses, vacation expenses, and emergency medical expenses. 
• Processing fee: Borrowers will be charged a small processing fee of 1% of the total loan amount. 

• Interest Rates Are Reasonably Low: Punjab and Sind Bank Personal Loans have reasonable interest rates. A respectable rate of interest is offered to retirees. 
• Loan amount: Borrowers are provided a high loan quantum of up to 18 times their net monthly pay and up to 15 times their net monthly salary. 
• Flexible Repayment Option: Borrowers have the option of repaying their Punjab and Sind Bank Personal Loan over a period of up to 60 months. 

Punjab and Sind Bank Personal Loan Eligibility Criteria 

In the given points check Punjab and Sind Bank Personal Loan eligibility criteria and avail for the loan: 

• The age of the applicant should be minimum of 21 years and a maximum of 70 years.  
• Employment type should be: 
• Government employee 
• A permanent and regular employee of institutions  
• Pensioners with having an account in Punjab and Sind Bank  

Documents Required for Punjab and Sind Bank Personal Loan  

To maintain track of a person’s identification and verify his or her trustworthiness, most lenders in India require applicants to submit a set of documents when applying for a loan. Applicants may be asked to submit the following general documents: 

• Aadhaar or PAN are examples of identity proof. 
• Proof of address 
• Statements of bank accounts 
• Pay Slips  

Important Factors of Punjab and Sind Bank Personal Loan Interest Rates 

Here are some of the following factors affecting personal loan interest rate for Punjab and Sind Bank:  

• Employment Status: PSB considers the applicant’s employment position, such as whether he or she is a salaried individual working for the government or a private company. If the applicant is a retiree, the interest rates will be adjusted accordingly. 

• If the individual has a PSB account: If the applicant has a PSB savings or salary account, the interest rate that will be provided will be higher. 
• The applicant’s repayment ability: PSB considers the individual’s income as well as his or her previous repayment history, which is represented in the individual’s CIBIL score. 
• The loan’s term: If the borrower opts for the maximum loan term of 60 months, the interest rate will almost certainly be greater than for loans with shorter terms. 

Comparison of Punjab and Sind Bank Personal Loan with other lenders 

In the given table, you can compare Punjab and Sind Bank Personal Loan with other banks: 

Particulars	Punjab and Sind Bank Personal Loan	Corporation Bank Personal Loan	South Indian Bank Personal Loan	Yes Bank Personal Loan
Interest rate	Offered at 12.8%	Offered at 12.9%	Offered at 11.55%	Offered at 10.75%
Processing fee	1% of the loan amount	1.5% of the loan amount	2% of the loan amount	As per loan terms
Maximum loan quantum	Rs.3 lakh	Rs.3.5 lakh	Rs.25 lakh	Rs.40 lakh
Maximum repayment tenure	60 months	60 months	60 months	60 months

Check Punjab and Sind Bank Personal Loan EMI Calculator   

When it comes to a loan, EMI is always the important part to repay the loan simply. The EMI is what draws the borrower’s attention after the loan is disbursed. The term “EMI” stands for “Equated Monthly Installments,” and it refers to the total amount of principal and interest due on a loan each month. It’s critical to understand the EMI amount so that you can budget appropriately in your budget for a smooth payback process. 

For example, you want to apply for a personal loan of Rs. 6 lakh from Punjab & Sind Bank with a 5-year term and a 12.50% annual interest rate. However, you are unsure about the EMIs. As a result, you may verify the EMIs payable on your planned loan in the table below: 

LOAN AMOUNT	INTEREST RATE	TENURE	MONTHLY INSTALMENT	TOTAL INTEREST AMOUNT	TOTAL AMOUNT
Rs. 6,00,000	12.50%	1	Rs.  53,450	Rs. 41,397	Rs. 6,41,397
Rs. 6,00,000	12.50%	2	Rs. 28,384	Rs. 81,225	Rs. 6,81,225
Rs. 6,00,000	12.50%	3	Rs. 20,072	Rs. 1,22,598	Rs. 7,22,598
Rs. 6,00,000	12.50%	4	Rs. 15,948	Rs. 1,65,504	Rs. 7,65,504
Rs. 6,00,000	12.50%	5	Rs. 13,499	Rs. 2,09,926	Rs. 8,09,926

Conclusion  

In this article, you can get the information for availing Punjab and Sind Bank Personal Loan 2021 at the low-interest rate, flexible loan amount, personal loan EMI calculator, and repayment tenure. You can also compare Punjab and Sind Bank with other banks offering interest rates, loan repayment tenure, and low interest rates. For more details contact Afinoz.com and simply avail of the loan.