Here are a few factors
|Location||50Km from Branch|
|Loan Amount & Tenure||1
Lac to 2 Cr
(12 month to 84 month)
|Loan to Value(LTV)||1.
100% funding of On Road price for Govt employee having account with PSB
2. 95% for Other Govt Employee 3. 90% for Others
|Type of Funded Vehicle||New Car|
|Rate of Interest & Type||9.05% to 10.05% (Fixed)|
|Processing Fees||0.25% of Loan amount subject to minimum 1000 maximum 15000|
|Foreclosure Charges||Individual-NIil, Non Individual-1%|
|Applicant||Any Salaried or Self Employed Person|
Self Employed & Salaried Person with Pension :18 to 70 Year
2. Salaried Non Pension-18 yera to 60 year
|Applicant Minimum Income||1. Salaried having monthly net Salary>25K 2. Self Employed Person having ITR>3 Lac|
|Business Vintage for Self Employed Applicant||2 Year|
|Minimum Job Experience for Salaried Applicant||1 Year|
|Whether Co-Applicant Mandatory||No|
|Part Payment Allowed||Yes|
Salaried- 48 Time of gross monthly Salary
2. Self Employed-4 time of average annual income of last 2 year
|Negative Profile||No Negative Profile|
Funding to NRI aswell
2. Funding to Pensioner also
Punjab & Sindh Bank New Car Loan EMI Calculator
|Interest %||9 %|
|Emi (monthly)||₹ 8,745|
|Total Interest||₹ 4,942|
|Loan Amount + Interest||₹ 104,942|
|Year||Total Principal |
( A )
|Total Interest |
( B )
( A + B)
|Total Payment||Loan Paid Till Date (%)|
|₹ 24,165||₹ 2,070||₹ 26,235||₹ 75,835||24.16 %|
|₹ 75,832||₹ 2,873||₹ 78,705||₹ 3||100.00 %|
Required Documents to Apply for Punjab & Sindh Bank New Car Loan
KYC of applicant
Last 3 Month Salary Slip
Last 12 month Bank Statement of applicant
Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
26AS of last 2 year of applicant
Quotation of Car
Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
Latest utility Bill if owned residence or rent agreement if rented
KYC of applicant & Co-Applicant
KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
Last 3 year audited balance sheet of applicant
Last 3 year Tax audit report of applicant
Last 12 month Bank Statement of applicant & co-applicant
Copy of Last 12 month GST return if applicable
Quotation of Car
Sanction letter of all running loan
Latest utility Bill of residence if owned or rent agreement if rented
Latest utility Bill of Office if owned or rent agreement if rented
List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
About Punjab & Sindh Bank New Car Loan
With Punjab & Sindh Bank's New Car Loan, you may unlock the door to your dreams and aim towards a more promising tomorrow. Your journey to owning your ideal car starts here, just as every trip does. Enjoy the road ahead since it opens up unlimited possibilities, and keep in mind that the road to success usually begins with determination, and your dream car is the mode of transportation that will bring you there. Let Punjab & Sindh Bank be your dependable companion on this magnificent path of aspirations and achievements.
PSB car loans are widely accessible both online and offline. The offline application can be received at the bank's closest branch. Someone wishing to apply may reach out to the branch to obtain an application form as well as details regarding the documents that must be provided and the fees associated with an application.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
No, the borrower won’t have to pay any Foreclosure Charges for the early closing Punjab & Sindh Bank Car Loan.
The Repayment Tenure of a Punjab & Sindh Bank Car Loan is upto 84 months
To apply for a Car Loan from Punjab & Sindh Bank you can visit their official website or you can also apply easily through ReferLoan.
The minimum required salary to apply for Punjab & Sindh Bank Car Loan is Rs. 25,000 per month.
Yes, the Documentation Charges will be for Actual Stamp/Revenue expenses only