PSB Loans In 59 Minutes

About PSBLoansin59Minutes.com: The initiative reimagines and simplifies the overall process of fund raising and has been designed to ease access of credit to Individuals and MSMEs. This is a unique platform that ensures seamless In-principle loan approval. The initiative aims at automation and digitization of various processes of Business Loan (Term Loan, Working Capital Loan and Mudra Loan) and Retail Loans (Personal Loan, Home Loan and Auto Loan) in such a way that a borrower gets an In-principle approval letter in less than 59 minutes. The borrower has been given the flexibility to choose lender. Business Loan In-principle approvals, with /without collateral, are currently provided for value from INR 1 Lac to INR 5 Crores. The Rate of Interest starts from 8.5% onwards. The Platform is integrated with CGTMSE to check eligibility of borrowers. Mudra Loan In-principle approvals are currently provided for value from INR 10,000 to INR 10 Lacs. Personal Loan In-principle approvals are currently provided for value up to INR 20 Lacs, Home Loan In-principle approvals are currently provided for value up to INR 10 Crores and Auto Loan In-principle approvals are currently provided for value up to INR 1 Crore.