Punjab Sind Bank overdraft loan

The Personal Loan Overdraft Facility is your one-stop solution for unexpected expenses and fluctuating cash flow. This innovative product combines the flexibility of a credit line with the ease of a personal loan. Access funds up to your approved limit and only pay interest on what you use. This isn't just a loan; it's a financial buffer that empowers your monetary strategy. Explore the details below and see how the Personal Loan Overdraft Facility can become your financial partner.

Features of Personal Loan Overdraft Facility

The Personal Loan Overdraft Facility offers:

• Flexible borrowing within an approved limit.
• Interest only on the amount used, not the total limit.
• Flexible repayments without fixed EMIs.
• Immediate access to funds after approval.
• No charges for early repayment.
• Revolving credit that replenishes as you repay.
• Minimal paperwork for fund access post-approval.

Punjab Sind Bank Fees & Charges Overdraft Loan

Based on the information provided on the Punjab Sind Bank online portal:

• Processing Fees: Nil for the PSB SB OD Scheme.
• Interest Rate: Interest is charged on the utilised amount only.
• Documentation Charges: Actual stamp paper charges apply.
• Repayment: Expected from the next salary(ies) within a period of 6 months.
• Minimum Balance: The account can be opened and maintained at zero balance for eligible individuals under this scheme.

Eligibility for an Overdraft Loan In Punjab Sind Bank?

For an overdraft loan in Punjab & Sind Bank, the eligibility criteria is:

• You are a permanent employee of the Central/State Government, PSUs, reputed public/private limited companies, MNCs, educational institutions recognised by the government, or an existing corporate borrower of the bank.
• I have a salary account with Punjab & Sind Bank, where my salary has been consistently credited for the last 3 months.
• The account should be at least three months old.
• Minimum 1 year of completed service.
• The applicant should be associated with the organisation at the time of application and throughout the overdraft facility’s tenure.

Punjab Sind Bank Documents Required for Loan Application

For a loan application with Punjab & Sind Bank, the generally required documents include the following:

1. Identity Proof: Passport, PAN Card, Voter ID Card, Driving License, Aadhaar Card.
2. Address Proof: Recent utility bills, Passport, Aadhaar Card, Voter ID Card.
3. Income Proof: Salaried individuals’ latest salary slips and bank statements show salary credit.
4. Employment Proof: Employment certificate for salaried individuals.

Process to Avail Punjab Sind Bank Overdraft Loan

To avail of an overdraft loan from Punjab & Sind Bank, follow these general steps:

• Ensure you meet the eligibility criteria. 
• Keep necessary documents ready in hand.
• You can apply for the overdraft facility by visiting a Punjab & Sind Bank branch, through online banking, or via the bank’s official website.
• The bank will review your application and documents. 
• Once approved, the bank will sanction your overdraft limit, and the facility will be linked to your account and ready for use.