• PSB Loan in 59 minutes

    PSBLoanin59minutes.com is a website where you can avail personal loans ranging from Rs.1 lakh to Rs.5 crore in 59 minutes from private and public banks, and NBFCs.

    This loan scheme is special as the turnaround time comes down to 59 minutes from the normal 7-8 days that a company may take to process. Once your application for the loan has been approved, the bank will disburse the loan amount to your bank account within 7-8 days.

    Features of applying for a personal loan from PSB Loan in 59 minutes

    • Unique: The platform from which you can avail the personal loan is in sync with the banking processes laid down by the lenders in India.
    • Convenience: You have the option of applying for loans from multiple lenders at one go.
    • Secured: The whole gateway of you providing important information in order to avail the loan to the lender disbursing the loan amount is highly secured.
    • Banker interface: The user banks have the option of creating their own customised loan products as per their credit policies.
    • Technological integration: There are various technological integrations which provides a certain ease to credit decision making.
    • CGTMSE Coverage: With the integration of CGTMSE, there is a possibility of MSME borrower being able to avail a collateral free loan.

    How can you avail a loan in 59 minutes

    • Once you apply for a personal loan, you are provided with a GST number.
    • You are provided with the details of your income tax returns in XML format.
    • Bank statement for the last 6 months in a pdf format.
    • Basic, personal, educational, and the ownership details of the director or the owner is provided.
    • Your loan gets approved in 59 minutes.

    How to apply for a loan?

    • Visit the official website of the PSB loan in 59 minutes.
    • Click on ‘Register’ if you are a new user.
    • Provide your name, email ID, and mobile number. You will receive a one-time password on your registered mobile number. Enter the OTP and click on ‘I agree to privacy, policy terms, and other terms and conditions’.
    • Click on ‘Proceed’.
    • Click on ‘Login’ and follow the instructions. You may have to provide the necessary documents in order to avail the loan of your choice. Once, that is done, your loan will get approved within 59 minutes and you will receive the loan amount within 7-8 days.

    FAQs

    1. Do I need to pay any registration fee in order to avail a person loan from PSB?
    2. No, you don’t have to pay any registration fee in order to avail a personal loan from PSB.

    3. What are the eligibility criteria I will have to fulfil in order to avail a personal loan from PSB?
    4. If you are a self-employed individual who has a business of his/her own, then you will have to be IT and GST compliant and must be able to provide bank statements for the last 6 months. It is important to know that your eligibility criteria are determined by factors such as:

      • Income
      • Capability to repay the loan amount on time
      • Existing credit facilities
      • Other terms and conditions set by the bank.
    5. Why do I have to upload details of my bank statement and upload it on the PSB Loan website?
    6. The reason that you will be asked to upload the details of your bank statement, IT returns, and GST is so that the bank can check the authenticity of the person applying for the loan and look for factors such as credit score and check if the applicant is eligible for the personal loan or not. The information provided by you is never stored and hence is safe and secure. Once the bank is convinced that all the details provided by you is authentic, the loan amount is disbursed to your bank account.

    7. What if I do not have GST/IT Returns/Bank Statement details?
    8. If you are unable to provide any of the following details as required by the lender, then unfortunately, you won’t be able to apply for a personal loan from PSB as you do not meet the eligibility criteria.

    9. I am GST/IT compliant, but I do not have the details. What should I do?
    10. You will be required to provide the details of you being GST and IT compliant in a digital format. If you do not have the details, you will have to ensure that you collect the necessary data. You only have to registered once before applying for a personal loan. You can log out of the portal at any time you desire. Once you have collected all the required details, you can log in to the portal and submit the necessary details. In case you are still facing problems, you can call on the number 079-41055999 for further assistance.

    11. Will I be required to pay any charges while applying for a personal loan from PSB?
    12. You will not be required to pay any fees while registering. However, there will be a nominal fee of Rs.1,000 which is the in-principle fee which you will have to pay in order to get the in-principle approval.

    13. Will I receive the loan if I pay the required fees and get the in-principle approval?
    14. The data provided by you will determine whether you get the in-principle approval or not. The bank after providing the in-principle approval will conduct further research in order to determine whether you will be eligible to get your loan approved or not. In all probability, the final decision rests at the discretion of the bank.

    15. How can I check the status of my application?
    16. Once you have applied for a loan, you can always visit the official website of PSB and log in to the portal using the credentials in order to check the status of your application.

    17. How is my turnaround time reduced if I apply for a loan from psbloansin59minutes.com?
    18. Once you submit the details as required by the lender, the website of the website runs analysis on the details in real time. The details are matched in lieu with the various criteria set by the banks available on the said platform, following which you are shown a list of lenders with whom your application has been matched and the lenders from whom you can avail your loan.

    19. I do not have the exact figure of my net worth. Will an estimate be acceptable?
    20. Yes, you can give an estimate of your net worth. The exact figure will be verified on due diligence.

    21. I have not filed my IT returns for the latest financial year. Will my IT returns for the previous financial years be accepted?
    22. No, you will have to submit the details of the IT returns for the latest financial year in order to be eligible for the approval of your loan.

    23. There are several matching products? How do I choose one?
    24. The product and the lender which you feel will be suitable for you will be solely at your discretion. You can check factors such as the rate of interest, loan amount, processing fee, etc. in order to determine the lender from whom you must avail the loan.

        

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