Punjab and Sind Bank Car Loan Key Features – Apr 24 2024
| Punjab and Sind Bank Car Loan Interest Rate | 7.35% per annum |
| Min Loan Amount | ₹ 100,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 90% of On Road Price or 100% of Ex-showroom Price |
| Loan Tenure | One year to 7 years |
| Lowest EMI / Lac | ₹ 2,000 |
| Minimum Net Monthly Income | ₹ 15,000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 18 years to 60 years Self Employed: 18 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
| Processing Fee | 0.40% |
| Foreclosure Charges | 1% |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation |
About Punjab and Sind Bank Car Loan
Punjab and Sind bank is a government-owned bank centralized in New Delhi. With 1559 branches across the nation they have 623 offices out of which are in the state of Punjab itself.
Vir Singh is considered the founder of the bank. As of March 2020, Punjab and Sind bank has a total of 8862 employees working for them.
It was founded on 24th June in the year 1908.
Punjab and Sind Bank provides car loans depending upon the notification of eligibility criteria consisting of the CIBIL Score of the applicant.
Advantages of Punjab and Sind Bank Car Loan
Punjab and Sind Bank Car Loan Eligibility
| Salaried Individual |
|
| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
Punjab and Sind Bank Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
14.80% p.a. to 16.80% p.a. |
| Processing fee | 0.40% | 0.40% |
| Issuance of Duplicate Repayment Schedule Charges | Starting from Rs.500 | Starting from Rs.500 |
| Foreclosure Charges | 1% on the outstanding amount | 1%- 3% on the outstanding amount |
| Penal Interest | N/a | N/a |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | Starting from Rs.500 | Starting from Rs.500 |
| Documentation Charge | Starting from Rs.500 | Starting from Rs.500 |
| Issuance of Duplicate No Dues Certificate Charges | Starting from Rs.500 | Starting from Rs.500 |
| Registration Certification Collection Charge | Starting from Rs.150 | Starting from Rs.150 |
| Cheque Bounce/Instrument Return Charges | Starting from Rs.500 | Starting from Rs.500 |
| Issuance of Duplicate Statement Charges | Starting from Rs.500 | Starting from Rs.500 |
| Loan Cancellation/Re-booking Charges | Falls between Rs.1000 to Rs.5000 | Falls between Rs.1000 to Rs.5000 |
| Issuance of Credit Report | Starting from Rs.50 | Starting from Rs.50 |
Punjab and Sind Bank Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
PAN Voter ID Driving Licence Aadhaar Card Passport |
| Address Proof
(Any 1) |
Aadhaar Card Passport Driving Licence PAN Voter ID |
| Date of Birth Proof
(Any 1) |
Birth Certificate Passport Driving Licence PAN |
| Signature Proof
(Any 1) |
Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last three months |
| Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last three months |
| Employment Continuity Proof | Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate Shop & Establishment Act Certificate |
| Business Proof | Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Current Account Statement Telephone Bill Electricity Bill Registered Lease Document with other utility bills |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous three years |
| Bank Statement | Bank statement of last three months |
| Business Continuity Proof | Current Account Statement Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest AOA Copy of Latest MOA Copy of Incorporation |
| Address Proof (Any 1) |
Current Account Statement
Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills Property Tax |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous three years |
| Bank Statement | Bank statement of last three months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Board Resolution List of Directors and Shareholding Partners PAN Card |
Punjab and Sind Bank Car Loan EMI Calculator
Now check your EMIs before even applying for the car loan by the mentioned calculator:
Punjab and Sind Bank Car Loan Types
Depending upon the needs of the customer Punjab and Sind Bank Car Loan is available in three different criteria:
- New Car Loan – Avail for this loan if you want to buy a new car and get a tenure of 7 Years.
- Used Car Loan – Applicants with a need to buy a second-hand car can avail of this loan at a repayment tenure of 5 Years.
- Loan Against Car – This loan type is for an applicant looking for quick fund allocation by raising their car as collateral and availing loan up to 50/5 of the vehicle’s value.
Punjab and Sind Bank Car Loan Pre Calculated EMI
| Loan Amount | 2 Years | 3 Years | 5 Years | 7 Years |
| 1 Lakh | ₹ 4,480 | ₹ 3,090 | ₹ 1,982 | ₹ 1,512 |
| 3 Lakh | ₹ 13,439 | ₹ 9,270 | ₹ 5,947 | ₹ 4,535 |
| 5 Lakh | ₹ 22,398 | ₹ 15,450 | ₹ 9,912 | ₹ 7,559 |
| 10 Lakh | ₹ 44,795 | ₹ 30,900 | ₹ 19,825 | ₹ 15,117 |
How to Apply for Punjab and Sind Bank Car Loan?
- Provide your information at Dialabank.
- Sit back and relax as one of our Relationship Manager will contact you soon.
- Choose from various options available.
- Avail of the benefit of free guidance by applying with Dialabank.
Punjab and Sind Bank Car Loan for Top Selling Cars
Other Available Products from Punjab and Sind Bank
| Punjab and Sind Bank Personal Loan | Punjab and Sind Bank Education Loan | Punjab and Sind bank LAP |
| Punjab and Sind Bank Gold Loan | Punjab and Sind Bank Two Wheeler Loan | Punjab and Sind Bank Home Loan |
FAQs for Punjab and Sind Bank Car Loan
✅ What is Punjab and Sind Bank Car Loan?
Punjab and Sind Bank Car Loan is a secured loan for customers willing to buy any new or used car and cannot allocate funds for the same.
✅ How can I get a Car Loan from Punjab and Sind Bank?
Get your Car Loan from Punjab and Sind Bank using Dialabank.
✅ How does Punjab and Sind Bank Car Loan work?
Punjab and Sind Bank provides Car Loan to the applicant by charging some interest rate and involves the car bought as security.
✅ What is the Car Loan Interest Rate in Punjab and Sind Bank?
7.35% per annum
is the car loan interest rate in Punjab and Sind Bank.✅ How to Check Car Loan status in Punjab and Sind Bank?
Check Car Loan status in Punjab and Sind Bank directly through the official website.
✅ How to Calculate Car Loan Interest in Punjab and Sind Bank?
Calculate Car Loan Interest in Punjab and Sind Bank using Dialabank Calculator.
✅ What is the maximum loan amount I can avail myself of on a Car Loan from Punjab and Sind Bank?
100% of the ex-showroom price is the maximum Car Loan you can get from Punjab and Sind Bank.
✅ What is the loan tenure of Punjab and Sind Bank Car Loan?
Five years for used cars and seven years for new vehicles is the Loan tenure of Punjab and Sind Bank Car Loan.
✅ Can I get a 100% Car Loan from Punjab and Sind Bank?
Yes, you can get a 100% Car Loan from Punjab and Sind Bank.
✅ How much Processing Fee is applicable on Punjab and Sind Bank Car Loan?
0.40% is the processing fee applicable on Punjab and Sind Bank Car Loan.
✅ What are the EMI options available on Punjab and Sind Bank Car Loan?
Step-up EMI and Balloon EMI are the two options available on Punjab and Sind Bank Car Loan.
✅ What are the charges for Prepayment in Punjab and Sind Bank Car Loan?
1% of foreclosure charges are imposed on the prepayment of Punjab and Sind Bank Car Loan.
✅Can I get a top-up loan on my existing Punjab and Sind Bank Car Loan?
Yes, But top-up loan on existing Punjab and Sind Bank Car Loan is available on selected conditions only.
✅ Do I need to provide a guarantor to avail myself of a car loan from Punjab and Sind Bank?
No, You need not provide any Guarantor.
✅ How to get Punjab and Sind Bank Car Loan Statement?
You can get your Punjab and Sind Bank Car Loan statement by requesting it from the banker from the branch or applying for it online.
✅ How to Pay Punjab and Sind Bank Car Loan Interest Online?
Pay Punjab and Sind Bank Car Loan online using net banking on the bank’s payment portal.
✅ What if I can’t pay the interest on Punjab and Sind Bank Car Loan for three months?
You will be charged with a fine for not paying interest on Punjab and Sind Bank Car Loan for three months.
✅ How can I apply for EMI Moratorium on Punjab and Sind Bank Car Loan?
Apply for an EMI moratorium on Punjab and Sind Bank Car Loan by providing your loan branch manager application.
✅ What is the number for Punjab and Sind Bank Car Loan agents?
9878981166 is the contact number of the most reliable Car Loan agent of Punjab and Sind Bank, Dialabank.
✅ Can I close Punjab and Sind Bank Car Loan online?
You can use Bank’s website to initiate your Loan closure process.
✅ What is Punjab and Sind Bank Car Loan Customer Care Number?
Call 9878981166 for all your questions.
✅ How can I get NOC from Punjab and Sind Bank for a Car Loan?
You can get NOC from Punjab and Sind Bank for a Car Loan after paying off your outstanding loan amount from the banker.
✅ What is the Punjab and Sind Bank Bank Car Loan closure procedure?
- Just go to the bank with the documents required for a car loan.
- Write a letter for pre-closure of the Punjab and Sind Bank Bank Car Loan account.
- Pay the pre-closure charges as per Punjab and Sind Bank Bank Car Loan.
✅ What are the Punjab and Sind Bank Bank Car Loan preclosure charges?
Punjab and Sind Bank Bank Car Loan preclosure charges are up to 6%+ GST.
✅ What is the Punjab and Sind Bank Bank Car Loan maximum tenure?
The Punjab and Sind Bank Bank Car Loan maximum tenure is 7 years.
✅ What is the Punjab and Sind Bank Bank Car Loan minimum tenure?
The Punjab and Sind Bank Bank Car Loan minimum tenure is 1 year.
