• Punjab and Sind Bank Car Loan

    Punjab and Sind Bank Car Loan Interest Rates

    Existing Punjab and Sind Bank Car Loan borrowers have the option to continue with the interest rate based on the Base Rate or to migrate to the new MCLR lending rate system. MCLR rates are subject to change from the next reset date, as per RBI regulations.

    Punjab and Sind Bank follows the MCLR benchmark given below:

    Tenure MCLR Percentage (in effect from April 2016)
    Overnight 9.30%
    1 month 9.50%
    3 months 9.65%
    6 months 9.65%
    1 year 9.65%

    Punjab and Sind Bank Marginal Cost Based Lending Rate (MCLR) for New Borrowers:

    MCLR Benchmark Tenure 1 year
    Benchmark MCLR rate 9.65% (in effect from April 2016)
    Rate of interest 9.90% (MCLR + 0.25%)

    Punjab & Sind Bank Car Loan FAQs

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

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

    2. 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.

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

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

    4. 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.

    5. 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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    Punjab and Sind Bank Car Loan Reviews

    • Punjab and Sind Bank
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan a long time back and the experience with them was pretty good. The loan amount was fine and the interest rate was also nominal. They had waved off the processing fee which was almost equal to one premium since some festival offer was going on.
      Was this review helpful? 4
      , chandigarh
      Reviewed on Mar 11, 2019
    • Punjab and Sind Bank
      Punjab and Sind Bank
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      Punjab and Sind Bank is fast in the car loan process. They have provided the loan withing two days. The rate of interest is below 9% and there was no processing charges since it was the festive season at that moment. I am happy with the excellent services.
      Was this review helpful? 3
      , mumbai
      Reviewed on Aug 29, 2018
    • Punjab and Sind Bank
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I am happy with Punjab and Sind, I had taken car loan with them. Almost they offered the interest rate of 9% it is good and processing fee is also nominal. They only taken three days to disburse the amount to the dealer. Their documentation process was also simple, I submitted my form 16 of the last three year, salary slip, KYC documents and address proof to them. I booked the MAHINDRA XUV500 W6 its on road price is 5.85 Lakhs but Punjab and Sind offered the loan amount of Rs.15 Lakhs for tenure of five years.
      Was this review helpful? 1
      , patna
      Reviewed on Feb 22, 2017
    • Punjab and Sind Bank
      "No charges applied "
      0.5 4.5/5 "Excellent!"
      The service provided was very good with Punjab and sind bank when i applied for the car loan.The loan process was good.They have a drawback because there is no online payment option available in the loan.PSB have not applied any charges since I hold my saving account with them.
      Was this review helpful? 4
      , pune
      Reviewed on Jan 18, 2016
    • Punjab and Sind Bank
      "Good terms and conditions..."
      0.5 4.5/5 "Excellent!"
      Punjab and Sind bank is the only bank that offering car loan for the tenure of 7 years in comparison to other nationalized bank. Moreover they did not require for many documents so I just provided minimal documents. Processing and pre closure charge is nil. Before submitting documents with the showroom guys the loan got sanctioned as very much satisfactory.
      Was this review helpful? 1
      , ernakulam
      Reviewed on Jul 09, 2015
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