PSB59 - Borrower App

Online PSB Loans

About this app

PSB59-Borrower App is owned, developed, and powered by Online PSB Loans Limited and represented through www.psbloansin59minutes.com/ PSB59. Psbloansin59minutes is the India’s largest digital infrastructure initiative.

Our Partners for Business Loans are:
Union Bank of India, Punjab National Bank, Indian Bank, Bank of Baroda etc.

What can you do with this App?
-Apply for a digital approval for Business loan for MSME, Mudra loans for small businesses,
Product Specifications:
1. Digital Approval for Business Loan for MSME
Digital Approval for the Business Loans including Term Loans or Working Capital Requirements from eligible Banks/Financial Institutions.
Highlights
- Minimum & Maximum Business Loan Amount - Rs.10 Lacs to Rs. 5 Crores
- Minimum & Maximum Repayment Period – 1 to 15 Years
- Minimum & Maximum Annual Percentage Rate- 6.8% to 21%
- Processing Fee: Ranging from 0.1% to 6 %

2. Digital Approval for Mudra loan
Highlights
- Minimum & Maximum Mudra Loan Amount - Rs.10,000 to Rs. 10 Lacs
- Minimum & Maximum Repayment Period -1year to 15 years
- Minimum & Maximum Annual Percentage Rate 6.8 % - 21%
- Processing Fee: Ranging from 0.1% to 6 %

3. Digital Approval for Other Retail Products
Any salaried individual can apply for Special Purpose Loan digital approval on the App. A borrower can apply online for a loan amount (up to 20 lacs) through hassle-free documentation and a speedy approval process on the App if deemed eligible. Having a different nature of the loan, this type of loan tends to have lesser loan cycle.


Highlights
- Minimum & Maximum Loan Amount - Rs. 10,000 to Rs. 20,00,000
- Minimum & Maximum Loan Repayment Period - 1 Year to 6 Years
- Minimum & Maximum Annual Percentage Rate -7.2 % to 27% depending on the customer’s credit and risk profile
- Processing Fee: Ranging from 0.1% to 6 %

Representative Example For Personal Loan Application Journey :

For total loan amount of ₹1,00,000 at an annual interest rate (APR) of 12% for 12 months:

Processing Fee: ₹500 (0.5%)

Monthly EMI: ₹8,885

Sample Interest Calculation: 12% simple interest on 1,00,000 Principal on reducing amount for 12 month amounts to 6120.

Total Repayment Amount: ₹1,06,620 (Principal ₹1,00,000 + Interest ₹6,120 + Processing Fee ₹500)

Annual Percentage Rate (APR): 12.5% (including processing fee)

Note: The actual interest rate, processing fee, and repayment period depend on the applicant’s profile, lender’s policy, and eligibility. Loans are provided by registered banks/NBFC partners, not directly by the app.

WE DO NOT PROMOTE PRODUCTS WHICH REQUIRE REPAYMENT IN FULL IN 60 DAYS OR LESS FROM THE DATE THE LOAN IS ISSUED. WE ARE NOT ENGAGED IN MONEY LENDING ACTIVITIES. THE APP IS ONLY A PLATFORM THAT FACILITATE MONEY LENDING BY DULY REGISTERED BANKS.

Please visit https://sites.google.com/view/psbborrowerprivacy/home to see how we use your data and how we protect your personal data shared by you with Bank/ partner through this application.

Please note we are available for Indian Users Only.
Contact Us/Grievance Redressal:
Helpdesk: 07941055999
E-mail: [e-mail]

What’s new

Enhancement in target support version