• Punjab and Sind Bank Personal Loan

    Punjab & Sind Bank is a major public sector bank that provides personal loans for genuine personal credit requirements. The excellent interest rates and the nominal processing fee make the personal loans affordable.

    • Low interest rate
    • Nominal processing fee
    • Maximum repayment period of 5 years
    • Multipurpose term loan facility

    Features and Benefits

    • Personal Loan for Pensioners: For pensioners who maintain a pension account with Dena Bank, the personal loan is offered at a special interest rate. 
    • Multipurpose Personal Loan: Punjab and Sind Bank Personal Loan can be availed for any genuine personal credit need including educational expenses, wedding expenses, travel costs and to meet the expenses of emergency medical needs. 
    • Nominal Processing Fee: Borrowers will be charged a nominal processing fee of 1% of the entire loan amount. 
    • Affordable Rate of Interest: Punjab and Sind Bank Personal Loan comes with competitive interest rates. For pensioners, a reasonable rate of interest is offered. 
    • High Loan Quantum: Borrowers are offered a high loan quantum of up to 18 times the net monthly salary and up to 15 times the net monthly pension for pensioners. 
    • Flexible Repayment Options: Borrowers can choose a tenure of up to 60 months to pay back their Punjab and Sind Bank Personal Loan. 

    Punjab and Sind Bank Personal Loan Overview 

    Interest Rate 
    • Salaried Class: 13.55% p.a. onwards 
    • Pensioners: 12.8% p.a. 
    Loan Amount  Up to Rs. 3 lakh 
    Processing Fee  1% of the loan amount 

    Documents Required 

    Most lenders in India request applicants to provide a set of documents to apply for a loan to keep a record of the person’s identity and verify his/her credibility. Here are a few general documents that applicants may be requested to submit: 

    • Identity proof such as Aadhaar or PAN 
    • Proof of residence 
    • Bank account statements 
    • Salary slips 


    Age  21 years to 70 years 
    Employment type 
    • Government employees 
    • Permanent and regular employees of institutions 
    • Pensioners with an account with Punjab and Sind Bank 

    How the EMI calculation of Punjab and Sind Personal Loan work? 

    A personal loan, as mentioned earlier, can be availed to take care of any personal expenses that may arise in the near future. Let’s say, Mr. Vikram decided to take a Rs. 2 lakh personal loan to pay for his son’s educational expenses. The EMI he is required to pay depends on the interest rate and the repayment period chosen. Let’s assume Mr. Vikram has been offered an interest rate of 13.55% and chose to repay the loan in 1 year. He will then have to pay Rs.17,915 every month for the next 12 months. 

    The break-up of the repayment schedule is as follows: 

    Month  Principal Paid(A)  (in Rs.)  Interest Paid(B)  (in Rs.)  Total Payment (A+B)  (in Rs.)  Outstanding Loan Balance  (in Rs.) 
    15,657  2,258  17,915  1,84,343 
    15,834  2,082  17,916  1,68,510 
    16,012  1,903  17,915  1,52,497 
    16,193  1,722  17,915  1,36,304 
    16,376  1,539  17,915  1,19,928 
    16,561  1,354  17,915  1,03,367 
    16,748  1,167  17,915  86,619 
    16,937  978  17,915  69,682 
    17,128  787  17,915  52,554 
    10  17,322  593  17,915  35,232 
    11  17,517  398  17,915  17,715 
    12  17,715  200  17,915 

    You can also calculate the EMI for the loan amount and loan tenure you’re looking at using our personal loan calculator

    Compare Punjab and Sind Bank personal loan with loans from other lenders

    Parameters  Punjab and Sind Bank Personal Loan  Corporation Bank Personal Loan  South Indian Bank Personal Loan  Yes Bank Personal Loan 
    Interest rate  12.8% onwards  12.9% onwards  11.55% onwards  10.75% onwards 
    Processing fee  1% of loan amount  1.5% of loan amount  2% of the loan amount  As per loan agreement 
    Maximum loan quantum  Rs.3 lakh  Rs.3.5 lakh  Rs.25 lakh  Rs.40 lakh 
    Maximum repayment tenure  60 months  60 months  60 months  60 months 

    Punjab and Sind Bank Personal Loan FAQs 

    Is it mandatory to submit income proofs in order to apply for the personal loan?

    Yes, the bank will ask for income proof to gauge the repayment capacity of a borrower. 

    What is the maximum and minimum loan amount one can avail through a Punjab and Sind Bank personal loan?

    The maximum amount depends on the applicant, with salaried applicants eligible for loans up to Rs.3 lakh. The loan amount for pensioners depends on their age, with those under the age of 65 years eligible for a maximum loan of Rs.3 lakh while those over the age of 65 years eligible for Rs.1 lakh. The bank has not prescribed any minimum loan amount, and an individual can opt for a loan below the maximum specified limits. 

    Who can act as a guarantee to the loan?

    A third-party, spouse, major son, or mutual guarantee can be named as the guarantee under the loan. 

    Is the processing fee a one-time payment?

    Yes, the processing fee equal to 1% of the loan amount is a one-time payment. 

    How is the interest rate for personal loan calculated?

    The interest for personal loan is calculated based on the one-year Marginal Cost of Funds based Lending Rate (MCLR). 

    How can I check the status of my Punjab and Sind personal loan?

    Click on the link https://www.psbindia.com/module/loans-tracking#. Enter your reference or registration ID. Select ‘Retail Loan’ under Loan type. Enter the captcha given. Click enter. You will be able to check the status of your personal loan

    How can I get in touch with customer care?

    In case of any query related to Punjab and Sind Bank personal loan customer care, you can call on the toll-free number 1800-419-8300. A customer care representative from the bank will get in touch with you and will help in resolving your query.


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    Punjab and Sind Bank Personal Loan Reviews

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