Punjab and Sind Bank offers personal loans to salaried individuals who are employed in government undertakings, public sector firms, and other private institutions. Pensioners can also avail loans from Punjab and Sind Bank. Borrowers need to be over the age of 21 years to avail a loan from the lender. The applicant should be able to furnish a guarantee to be eligible to borrow this loan.
Punjab and Sind Bank offers personal loans to salaried employees and pensioners at attractive interest rates that start at 12.75% p.a. To borrow a loan from the lender, you will need to check whether you meet eligibility criteria mentioned below:
|Criteria||Salaried Employees (Government/PSUs)||Salaried Employees (Private)||Pensioners|
|Age||21 years to 60 years||21 years to 65 years||Up to 70 years|
|Bank Account with Lender||Not specified||Not specified||Should hold pension account with the bank|
|CIBIL Score||Ideal – Over 700|
|Interest Rate||12.75% p.a. onwards|
|Loan Tenure||Up to 60 months|
|Processing Fee||1% of the loan amount|
No, the lender only offers personal loans to salaried employees and pensioners.
You can only borrow a personal loan if you are a confirmed and permanent employee.
No, pensioners are charged the lowest interest rate, which is 12.75% p.a. If you are a salaried employee, the interest rate that you will be charged will start from 13.5% p.a. onwards.
The loan amount will be disbursed into your account as soon as the lender approves your application.
No, the lender currently does not have an online application option.
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