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  • State Bank of India (SBI) Loan against Shares

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  • Punjab and Maharashtra Co-operative Bank has been serving its customers diligently ever since its inception in 1984, growing from humble beginnings to offer multiple products across the country. Among its popular offerings are its personal loans, designed to cater to any financial emergency an individual could have, ensuring lack of money doesn’t hamper the quality of life one wishes to lead.

    What can this loan be used for?

    This is a general, multipurpose loan which can be used for any genuine personal requirement. Some of its uses are mentioned below.

    • It can be used to pay for wedding expenses
    • Can be used to pay off medical bills
    • Renovating/remodelling the home
    • Vacation
    • Purchasing household utilities, etc.

    Who can avail Punjab and Maharashtra Co-operative Bank Limited Personal Loan?

    This loan can be availed by existing customers of the bank, subject to them meeting certain basic criteria revolving around age and income. A borrower should have a sufficient source of income to repay the loan and should have a steady job/business.

    What are the terms associated with this loan?

    A borrower is expected to provide a guarantor/security before availing a loan in most cases.

    What is the maximum loan amount which can be availed?

    The maximum loan amount a borrower can avail is limited to Rs 5 lakh, subject to approval by the bank.

    What is the interest rate charged by Punjab and Maharashtra Co-operative Bank?

    Punjab and Maharashtra Co-operative Bank charges interest as per its discretion and it is advisable to check the interest rate with the bank before applying for a loan.

    What is the repayment period for this loan?

    The loan can be repaid through equated monthly instalments (EMIs) spread over a period of 5 years. Individuals can opt to repay the amount before 5 years also and have the option to repay it in 3 or 4 years as well.

    How can one apply for Punjab and Maharashtra Co-operative Bank Limited Personal Loan?

    Individuals who wish to apply for this loan can do so online, through the official website of the bank by providing their basic information like name, date of birth, bank account number, etc. They can also choose to visit the branch personally and fill up the application form.


    Mr. Krishna decides to avail a personal loan of Rs 1 lakh from Punjab and Maharashtra Co-operative Bank to clear his medical bills. He avails a loan at an interest rate of 13% per annum with a repayment tenure of 4 years. The amount he will have to pay to clear the loan is mentioned below.

    EMI – RS 2,683

    Total interest to be paid – RS 28,772

    Total payment to clear the loan – Rs 1,28,772

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