Punjab and Sind Bank Car Loan - Easy Approval, Affordable Rates

Looking to buy a new or used car? With a Punjab and Sind Bank Car Loan, you can finance your dream vehicle at competitive interest rates and flexible terms. Whether you're salaried, self-employed, or a business owner, the bank offers tailored car loan solutions that make car ownership easier than ever.

Updated On - 05 Sep 2025
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Key Features and Benefits

  1. Low interest rates starting from 9.05% per annum
  2. Loans available for both new and used vehicles
  3. Flexible repayment tenure of up to 84 months
  4. No maximum loan limit for eligible applicants
  5. Available to individuals, proprietors, and businesses
  6. Joint car loan facility for co-applicants

Punjab and Sind Bank Car Loan Interest Rates 2025

Type of Car Loan

Interest Rate (Starting)

Tenure

New Car Loan

9.05% per annum

Up to 7 years

Used Car Loan

Varies by car age

Up to 5 years

Punjab and Sind Bank Car Loan Eligibility Criteria

  1. Indian residents between 21 and 70 years of age
  2. Salaried employees, self-employed individuals, and business owners
  3. Steady income and a good credit history
  4. Co-applicants allowed for joint loan applications

Documents Required for Punjab and Sind Bank Car Loan

Document Type

Accepted Documents

Identity Proof

PAN Card, Aadhaar Card, Passport

Address Proof

Utility bills, Aadhaar, Rent Agreement

Income Proof

Salary slips, bank statements, IT returns

Vehicle Documents

Proforma invoice or vehicle Registration Certificate

How to Apply for a Punjab and Sind Bank Car Loan

You can apply for a car loan either online or by visiting a branch.

Online Process:

  • Go to the official Punjab and Sind Bank website
  • Navigate to the car loan section
  • Fill in the loan application form
  • Upload all necessary documents
  • Wait for bank verification and approval

Offline Process:

  • Visit your nearest Punjab and Sind Bank branch
  • Request the car loan application form
  • Submit the completed form along with documents
  • Discuss terms and await loan processing

EMI Calculator

Use the Punjab and Sind Bank EMI calculator on the official website to:

  1. Estimate your monthly EMI based on the loan amount, interest rate, and tenure
  2. Compare different EMI scenarios to choose a repayment plan that fits your budget

Tips to Get a Better Interest Rate

  1. Maintain a credit score above 750
  2. Choose a shorter repayment tenure to save on total interest
  3. Submit complete and accurate documentation
  4. Make a higher down payment to reduce the loan amount
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Punjab and Sind Bank Car Loan Interest Rates Based on CIBIL Score

Punjab and Sind Bank follows the MCLR benchmark given below:

CIBIL Credit Vision Score

Spread (%)

Effective EBLR %

768-900

0.51

9.05

753-767

0.61

9.15

732-752

0.81

9.35

690-731 or -1,3,4,5

1.16

9.70

641-689*

1.51

10.05

MCLR Benchmark Tenure

1 year

Benchmark MCLR rate

9.65%

Rate of interest

9.90% (MCLR + 0.25%)

Punjab and Sind Bank Car Loan FAQs

  • Who can apply for car loans offered by Punjab & Sind Bank?

    Individuals and businesses can apply for car loans offered by Punjab & Sind Bank.

  • For what purpose can I apply for a car loan from Punjab & Sind Bank?

    You can apply for a car loan from Punjab & Sind Bank for the purpose of purchasing new and used cars for private use only.

  • Can I take a joint car loan from Punjab & Sind Bank?

    Yes, you can take a joint car loan from Punjab & Sind Bank.

  • Can I use the car that I plan to buy using the Punjab & Sind Bank Auto Loan for commercial purposes?

    No, you cannot use the car that you plan to buy using the Punjab & Sind Bank Auto Loan for commercial purposes.

  • What is the maximum amount that individual borrowers or Proprietors can avail through car loans offered by Punjab & Sind Bank?

    There is no limit on the maximum amount that individual borrowers or proprietors can avail through car loans offered by Punjab & Sind Bank.

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