Punjab and Sind Bank

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Punjab and Sind Bank

Punjab and Sind Bank

Punjab & Sind Bank is a state-owned bank in India. It is owned by the Ministry of Finance of the Government of India, and its headquarters are in New Delhi. As of March 31, 2020, the Bank had 1526 branches scattered over India, with 635 in Punjab. In addition, the Bank has 25 Zonal Offices spread around the country.

Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh founded the Bank in Amritsar on June 24, 1908.
Punjab & Sind Bank was one of six banks nationalised by the Indian government in the second wave of nationalisation on April 15, 1980. (The government nationalised the top 14 banks in 1969, which was the first wave.)

Punjab & Sind Bank opened a branch in London in the 1960s. However, following Punjab & Sind’s participation in the Sethia scam in 1987, Bank of Baroda acquired the London branch of Punjab & Sind Bank at the request of the Reserve Bank of India in 1991.

Punjab and Sind Bank Offerings

Punjab and Sind Bank offers various kinds of loans such as:

  • Car Loan
  • Personal Loan
  • Gold Loan
  • Home Loan

Punjab and Sind Bank offers various kinds of banking such as:

  • Net Banking
  • Customer Care
  • Balance Enquiry

Punjab and Sind Bank offers two kinds of Deposit Accounts such as:

  • Savings Account
  • Current Account

Punjab and Sind Bank Loans Offered

  • Car Loan- Punjab and Sind provide two online portals for distinct client groups: Net Banking for existing customers who have a savings or current account with the Bank and E-LOANS for customers who have a Punjab and Sind loan account (and no prior relationship).
  • Personal Loan– New and returning clients must follow the same processes to apply for a personal loan online. To begin, go to the Punjab and Sind Bank Personal Loan website and click on the Apply for a Loan button. Then, fill up the necessary information on the website, and a customer service person will contact you. You can also enquire about the situation at your nearest branch.
  • Gold Loan– A gold loan is a secured loan offered by banks at a low interest rate with various repayment alternatives. This loan is typically obtained in a financial emergency, a marriage, or for educational purposes. You must present gold jewellery as collateral; the Bank will grant the loan in exchange. This loan amount is determined mainly by gold weight and purity. If a borrower chooses to check the loan status after applying for one, the Bank offers borrowers the option of online and offline.
  • Home Loan- It assists people in obtaining their dream homes, i.e. the house of their dreams. Punjab and Sind Bank is an Indian Bank-sponsored regional rural bank. It was formed on March 26, 2008, with its headquarters in Pondicherry. It provides qualified Non-Resident Indian Borrowers with NRI house loans at a preferential interest rate that starts at 6.80 per cent. In addition, women borrowers can take advantage of special interest rate reductions. Moreover, with variable interest rates, there are no prepayment penalties.

Punjab and Sind Bank Gold Loan

Gold Loans are loans that you may get by pledging your gold jewellery to a bank. A gold loan from the Punjab and Sind Bank can pay for urgent personal costs like children’s education, marriage, other family financial problems, and commercial objectives. In addition, the gold mortgage serves as a guarantee for the loan. The following are some of the advantages of taking out a loan from Punjab and Sind Bank:

  • Punjab and Sind provide gold loans with a long term of up to 36 months, allowing you to repay the loan in low-interest instalments.
  • Customers have complete freedom in managing their loan repayments because the Bank does not impose any foreclosure costs on its gold loan products.
  • If you take out an Axis Bank loan, you can earn Punjab and Sind eDGE reward points. These reward points can be used to make a variety of online purchases.

Punjab and Sind Bank Personal Loan

Tips on how to increase your chances of getting a personal loan from the Punjab and Sind Bank are listed below:

  • Build a good credit score: Having a good credit score and history makes you more likely to get approved for a personal loan. In addition, because you would have acceptable and robust creditworthiness, you will avoid dangers and obtain the best interest rates in the long term.
  • To enhance your chances of receiving a personal loan, you must make sure that all the required documents are provided. This will also make the application approval process go more smoothly.

Punjab and Sind Bank Car Loan

A car loan application form is available online in Punjab and Sind Bank. Logging into your car loan account is as easy as a few mouse clicks. For the simplicity and comfort of travelling from one area to another, a vehicle is a must-have. A car loan might be beneficial to you when you decide to purchase a vehicle. Applying for a car loan has never been easier, faster, or more convenient.

Punjab and Sind Bank Car Loans are provided under three distinct categories, depending on the demands of the customer:

  • New Car Loan – Get this loan if you wish to buy a new car and have a 7-year repayment period.
  • Used Car Loan – Applicants who need to purchase a used car can apply for this loan with a 5-year payback period.
  • Loan Against Car – This loan type is for someone who needs money quickly and wants to use their car as collateral to get a loan up to 50/5 of the vehicle’s worth.

Punjab and Sind Bank Home Loan

Punjab And Sind Bank Home Loan is a lifesaver for people who need financial assistance for their homes and plots. It includes the following features:

A wide range of home financing options is available.
The Pradhan Mantri Awas Yojana, which is quite beneficial, is also accessible.

  • Allow women a 0.05 per cent tax break to encourage them to buy their property.
  • Give you a few options for repayment and let you select the best one for you.
  • There would be no hidden expenses or levies, as Punjab And Sind Bank promises.
  • Simple application with minimal paperwork and documents.
  • Provides financing approval before the property is chosen.

Punjab and Sind Bank Credit Card

Punjab and Sind Bank, based in New Delhi, is a government-owned bank. Customers of Punjab and Sind Bank can get a RuPay Kisan Credit Card. This loan was created specifically to meet the credit needs of farmers.

Credit cards from Punjab and Sind Bank come with a variety of features and perks. The advantages and benefits of Punjab and Sind Bank Credit Cards are mentioned below.

  • The RuPay Kisan Credit Card is explicitly created for those who work in the agricultural industry, such as farmers.
  • The size of your fixed deposit generally determines the credit limit. Therefore, you will be given a loan based on that amount.
  • This credit card is straightforward to use.
  • In most nations, credit cards are extensively accepted.
  • For repayment, there are a variety of options.
  • Farmers will be able to use this credit card for all of their agricultural needs.

Punjab and Sind Bank Net Banking

  • Netbanking on Website: Punjab and Sind Bank Customers can pay their EMIs via the Punjab and Sind Bank’s official website. Log in using the credentials supplied by Punjab and Sind Bank, choose your loan, and input your EMI amount. Your Punjab and Sind Bank Account will be debited for the payment.
  • Netbanking on Mobile App: You may also utilise the Punjab and Sind Bank smartphone app, available to all bank clients. Customers may get the Punjab and Sind Bank mobile app for Android and iOS devices from the Google Play Store and Apple Store, respectively.

Punjab and Sind Bank Customer Care Number

All India Number 1822509555
ATM Helpline/Toll-Free No 1800-180-7777

Punjab and Sind Bank Customer Complaints

Punjab and Sind Bank is a Punjab National Bank-sponsored regional rural bank in India. Punjab Gramin Bank (sponsored by Punjab National Bank), Malwa Gramin Bank (sponsored by State Bank of India), and Sutlej Gramin Bank (sponsored by Punjab and Sind Bank) merged to become Punjab and Sind Bank. It has 419 branches around the state, with its headquarters in Kapurthala. The majority of the Bank’s branches are located in rural areas, assisting in the development of rural Punjab.

Customers can contact the Bank by its customer service phone number, email address, or official website. In addition, customers can get to the Bank if they have any questions or problems.

How to Open a Savings Account in Punjab and Sind Bank

To create a Savings Account, complete the following steps:

Step 1: Go to a Punjab and Sind Bank branch in person.

Step 2: Fill out the Savings Account Account Opening Form (AOF).

Step 3: Attach any needed (mandatory) papers to the Account Opening Form (AOF)

Step 4: Verification of the Account Opening Form (AOF) and Other Documents by the Banker

Step 5: Make a minimum contribution to your Savings Account following your Savings Account’s criteria.

Step 6: Obtain a chequebook, passbook, debit card, and other papers from the Bank.

How to Open a Current Account in Punjab and Sind Bank

To create a current account, you must first complete the following steps:

Step 1: Go to the bank branch.

Step 2: Filling out an Account Opening Form (AOF) for a Current Account

Step 3: Attach any needed (mandatory) papers to the AOF.

Step 4: AOF and other papers are verified by a banker.

Step 5: Make a little deposit into your account.

Step 6: Go to the Bank and get a cheque book, a passbook, and any other documentation you need.

Punjab and Sind Bank FAQs

What is Punjab and Sind Bank’s new name?

The Bank was one of six banks nationalised by the Indian government in April 1980. As a result, the Bank became a Government of India undertaking, and its name was changed to Punjab and Sind Bank.

Is the Punjab Sind Bank a merged entity?

Bank of India, Punjab and Sind Bank, Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, and UCO Bank are the six institutions that have been excluded from the merger. As a result, the structure of these banks will be a stumbling block in the privatisation process.

What is the Punjab and Sind Bank’s minimum balance?

The account may be created with as little as Rs. 100/-, and there are no penalties for having a low balance. The performance is for clients who, owing to their profession’s nature, cannot keep a large balance in their accounts, such as craftsmen, labourers, and others.