Punjab & Sind Bank Personal Loan is available on easy-to-comply-with terms, i.e. easy Punjab & Sind Bank Personal Loan interest rate and Punjab & Sind Bank Personal Loan eligibility norms. All this will be talked about in detail in this Punjab & Sind Bank Personal Loan review, on money superbazaar.

Punjab & Sind Bank Personal Loan Interest Rate:

Punjab & Sind Bank Personal Loan rate is based on two basic rates:

Base rate and BPLR (Benchmark Primary Lending Rate)

Base rate at present stands at 8.20%, hence Punjab & Sind Bank Personal Loan rate stands at:

           Class / category                           Punjab & Sind Bank Personal Loan interest rate

a)    Pensioners/ Salaried Employees                                        13.50%

b)    For Professionals                                                              14.15%

c)    Self Employed                                                                  14.15%

Punjab & Sind Bank Personal Loan Eligibility:

• Employees of government organizations, (central/state), PSUs, local registered bodies
• Employees of educational institutions recognized UGC/ government schools
• In case of joint-borrowing, spouse’s income is clubbed together, to determine the amount of loan to be sanctioned.

The Punjab & Sind Bank Personal Loan eligibility norms based on age, according to various classes of professional commitments, as stated earlier in Punjab & Sind Bank Personal Loan review states:

Age limit              Punjab & Sind Bank Personal Loan eligibility class

65 years                       Salaried class

65-70 years                  Pensioners

65 years                       Professionals/Self-employed

Quantum Of Punjab & Sind Bank Personal Loan:

The quantum of loan permissible depends on the age and service classification of the loan-seeker, as already mentioned in this Punjab & Sind Bank Personal Loan review:

Class                                       Limit of Permissible Quantum

Salaried class                          12 months’ gross salary/ 20 months’ net salary/ Rs.2lacs

                                               whichever is less.

Pensioners (up to 65 years)      10 months of gross pensioner Rs.2lacs, whichever is less.  

         (more than 65 years)       5 months of gross pension of Rs.1lac, whichever is less

Professionals/ Self-Employed     Avg. based on last 3 years income as per ITR or Rs3lacs

Existing Borrowers of Bank        Partners of a firm may avail of Rs.1lac individually

Procedure To Be Followed While Applying For Punjab & Sind Bank Personal Loan:

Loan-seekers must submit the following documents along with filled-in application form at the nearest branch:

• ID Proof: PAN Card/ Driver’s Licence
• Address Proof: Voter’s Card
• ITR

Processing fee stands at 1% Other details can be sought in person from the nearest Punjab & Sind Bank Ltd.

Tenure Of Punjab & Sind Bank Personal Loan:

Tenure or loan period is of 48 months or 4 years. The entire period of Punjab & Sind Bank Personal Loan sees no variation in Punjab & Sind Bank Personal Loan rate of interest.

Repayment Of Punjab & Sind Bank Personal Loan:

Equated Monthly Installments, calculated on Punjab & Sind Bank Personal Loan rate is to be repayed across a period of 48 months, through post-dated cheques.

Default In Payment Of Punjab & Sind Bank Personal Loan:

In case of any overdues from all sections of borrowers, as mentioned in above stated Punjab & Sind Bank Personal Loan eligibility criteria of this Punjab & Sind Bank Personal Loan review, penalty is charged at 14.15%

This charge is constant, irrespective of the Punjab & Sind Bank Personal Loan interest rate and is independent of it.

Product page url:

http://www.psbindia.com/persloan.php/persloan.php

Branch Office Address (In Table)