Searching for a Quick Loan- let’s take a look at PSB Personal Loan
Whenever we are in financial trouble, to get out, we explore several options. Getting a personal loan is one of those options. However, even the tricky thing to do is choosing a lender. This is where the PSB Personal loan comes in handy.
It is a reliable lender offering reasonable loan amounts with competitive interest rates and other benefits. In the short post, we will get to know its details.
PSB Personal Loan
PSB Personal loan offers credit with minimal documentation, easy online application, and complete transparency.
- It offer loan amount up to Rs 3 lakhs.
- PSB Personal loan 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 sanctioned loan amount.
- The lowest EMI is Rs 2,301 per lakhs.
Why should you choose PSB Personal loan?
- The PSB Personal loan is affordable as compared to other lenders.
- The loan repayment tenure is quite flexible, up to 5 years.
- The loan amount is high enough for a financial emergency.
- There is a pension loan for those borrowers who maintain a pension account with PSB bank.
- The personal loan could be used to pay the medical bill, college fee, or for any other thing.
- The processing fee is the lowest at Rs 2500, whatever is the loan amount.
PSB Personal Loan Eligibility Criteria
Before you apply, here are the PSB personal loan eligibility criteria you need to know.
- The borrower must be an employee in a government or PSU. For any other institution, the person should be a confirmed employee.
- The applicant’s age should be a minimum 21 years at least. The maximum age should be 60 years. For the private sector, the limit is up to 65 years.
- For pensioners, the age should be up to 75 years.
- The Ideal CIBIL score should be at least 750.
The EMI Calculator for PSB Personal Loan
If you want to know the monthly EMI and the total amount for PSB Personal loan use the EMI calculator to find it out.
Open the calculator; enter the loan amount, interest rate the loan repayment tenure. The calculator will show you the monthly installment along with total interest amount.
Documents Requirement for PSB Personal Loan
Here are the basics documents you will need to submit.
- Identity proof – Passport, Aadhar card, Voter ID card, Driving license
- Address proof – Rent agreement, utility bill, electricity bill
- Income proof – Salary slips, pension slips
- Bank statement for the last 6 months
- Passport size photographs
Comparing PSB Personal Loan with other Lenders
| Comparison Criteria | PSB Personal loan | Axis bank | HDFC Bank | CITIBANK | Bajaj Finserv |
| 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 |
| Rate of interest | 11.10% onwards | 12-24% | 10.75-21.30% | 10.50% onwards | 12.99% onwards |
| Loan tenure
|
Up to 5 years | 12 to 60 months | 12 to 60 months | 12 to 60 months | 12 to 60 months |
| Processing charge | 1% of the loan amount | Up to 2% | Up to 2.50% | Up to 3% | Up to 4.13% |
How to apply?
To apply for PSB Personal loan, visit Afinoz.com. Start by creating a free account. Then click on an apply personal loan. From there, you can follow the steps to complete the process.
Conclusion
Now, we know the details. As we can see, PSB Personal loan offers a decent loan amount with an ideal rate. For an emergency, it could prove to be a good lender for getting quick cash.
