Punjab and Sind Bank Car Loan

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

Punjab and Sind Bank Car Loan Key Features

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 in the state of Punjab itself.
Vir Singh is considered as 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 of 1908.

Punjab and Sind Bank provides car loan depending upon the notification of eligibility criteria consisting of CIBIL Score of the applicant.

Advantages of Punjab and Sind Bank Car Loan

Punjab and Sind Bank Car Loan

Punjab and Sind Bank Car Loan Eligibility

Salaried Individual
  • Age – 18 years to 60 years
  • Net Monthly Income – should be minimum ₹ 15000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 18-65 years of age
  • Minimum ITR  – Rs. 3 Lakh
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs.3 Lakh
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least six months
  • Average Quarterly Balance – Minimum Rs.1 lakh for the last two quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last two quarters

Punjab and Sind Bank Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.35% p.a. to 11.30% p.a. 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:

Car Loan EMI 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:

  1. New Car Loan –  Avail for this loan if you want to buy a new car and get a tenure of 7 Years.
  2. Used Car Loan – Applicants with a need of buying a second-hand car can avail this loan at a repayment tenure of 5 Years.
  3. 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 value of the vehicle.

Punjab and Sind Bank Car Loan Pre Calculated EMI

How to Apply for Punjab and Sind Bank Car Loan?

  1. Provide your information at Dialabank.
  2. Sit back and relax as one of our Relationship Manager will contact you soon.
  3. Choose from various options available.
  4. Avail 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 unable to allocate funds for the same.

✅ How can I get Car Loan from Punjab and Sind Bank?

Get you 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% is the interest rate on Car Loan 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 on 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 100% Car Loan from Punjab and Sind Bank?

Yes, you can get 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 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 to 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 EMI moratorium on Punjab and Sind Bank Car Loan by providing an application to your Loan branch Manager.

✅ What is the number for Punjab and Sind Bank Car Loan agent?

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 Car Loan?

You can get NOC from Punjab and Sind Bank for Car Loan after paying off your outstanding loan amount from the banker.

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