Punjab & Sind Bank Personal Loan ₹3 Lakh

This is the chance for you to get a simple and adaptable Punjab & Sind Bank ₹3 Lakh Personal Loan to fulfil your financial demands. Whether for a wedding, education, remodelling your house, or any other personal need, this loan covers you with low interest rates and flexible repayment options. A personal loan from Punjab & Sind Bank is a simple process that requires speedy approval and minimal documentation. Apply today and go closer to realising your ambitions.

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Eligibility for 3 Lakh  Punjab & Sind Bank Personal Loan

Several factors determine Rs. 3 Lakh personal loan eligibility at Punjab & Sind Bank. Here is the eligibility criteria for personal loans at Punjab & Sind Bank:

Eligibility Criteria Details
Minimum Age 21 years old
Maximum Age 60-70 years old
Employment Requirement Salaried individuals must work for the government or a public sector organisation
Pension Requirement Pensioners must have a pension account with the bank
Account Requirement Applicant must have a salary or pension account with Punjab & Sind Bank
Evaluation Factors The bank may assess the applicant’s monthly income and credit score

Documents Required

Below mentioned table provides detailed insights into the required Rs. 3 Lakh personal loan document at Punjab & Sind Bank:

Document Type Required Proofs
Identity Proof PAN card, Aadhaar card, Voter ID, Passport
Address Proof Recent utility bills, Passport, Aadhaar card
Income Proof Last 3 months’ salary slips (for salaried individuals)
Bank Statements Statements from the last 6 months
Employment Proof Employment ID, joining letter, Form 16
Income Tax Returns IT returns for the past 2 years (for self-employed individuals)

Interest Rates and Fees

Here’s an overview of Rs. 3 Lakh loan interest rate and fees for Punjab & Sind Bank Personal Loans:

Interest Rates

CIBIL Score Interest Rate
768-900 10.55%
753-767 10.65%
732-752 10.85%
690-731 11.20%
641-689 11.65%

Fees

Fee Type Charges
Processing Fee 1.00% + GST
Document Charges Stamp charges
Inspection Charges
Prepayment Charges

Repayment Options for Punjab & Sind Bank 3 Lakh  Loan

Punjab & Sind Bank offers various repayment options for a ₹3 Lakh personal loan, allowing clients to choose a plan that fits their financial situation.

  • Borrowers can repay the loan in equal monthly instalments (EMIs), including principal and interest.
  • Set up standing instructions with the bank for automatic EMI deductions.
  • Pay EMIs through the bank’s internet banking platform.
  • Use the bank’s mobile banking app.
  • Use the Electronic Clearing Service (ECS) for automatic payments.

What is the EMI for a 3 Lakh loan?

Here is a table of Punjab & Sind Bank Personal Loan EMIs with various interest rates and loan tenures ranging from one to five years:

Loan Tenure/ 

Interest Rates

1 Year 2 Years 3 Years 4 Years 5 Years
10.55% ₹26,451 ₹13,918 ₹9,757 ₹7,687 ₹6,454
10.65% ₹26,465 ₹13,934 ₹9,771 ₹7,703 ₹6,470
10.85% ₹26,493 ₹13,961 ₹9,800 ₹7,731 ₹6,500
11.20% ₹26,543 ₹14,010 ₹9,849 ₹7,782 ₹6,552
11.65% ₹26,606 ₹14,073 ₹9,914 ₹7,848 ₹6,620

Note: You can also use the online calculator to calculate the monthly EMI with desired loan tenure and interest rate.

Applying for the Punjab & Sind Bank 3 Lakh  Loan

Applying for a ₹3 Lakh loan from Punjab & Sind Bank via Urban Money is simple. Follow these steps:

Step 1: Visit the Urban Money website.

Step 2: Head to the Personal Loan section.

Step 3: Check the available financial institutions and banks, then find Punjab & Sind Bank.

Step 4: Select the Apply Now button for Punjab & Sind Bank.

Step 5: Fill in your details, including name, mobile number, city, and type of loan.

Step 6: Click Submit after completing the form.

Step 7: Urban Money will contact you to proceed with your loan application.

Alternative Options to Consider for a 3 Lakh  Loan

Here are some alternative options to consider for a Rs. 3 Lakh loan:

Financial Institution Loan Type
AU Small Finance Bank Personal Loan
Bajaj Finserv Personal Loan
Canara Bank Personal Loan
CITI Bank Personal Loan
Deutsche Bank Personal Loan
HDFC Bank Personal Loan
HDFC Sales Personal Loan
IDBI Bank Personal Loan
Karnataka Bank Personal Loan
RBL Bank Personal Loan
YES Bank Personal Loan

FAQs

Can I get a 3 Lakh Personal Loan from Punjab & Sind Bank?

Yes, Punjab & Sind Bank offers personal loans of Rs. 3 Lakh.

What are the interest rates for a small Punjab & Sind Bank Personal Loan?

The interest rate for personal financing at Punjab & Sind Bank is determined by the borrower's CIBIL score. Punjab & Sind Bank provides personal loans with interest rates ranging from 10.55% to 11.65%.

How much will my monthly payments be (estimate)?

The monthly EMI of Rs. 3 Lakh is determined by the loan tenure and interest rate. For instance, with a loan term of five years and an interest rate of 11.65%, the monthly EMI would be approximately Rs. 6,620.

Are there any hidden charges in Punjab & Sind Bank personal loans?

Punjab & Sind Bank does not impose any hidden charges on personal loans.

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