59minutes psb loan

                                                 PSB LOANS IN 59 MINUTES

PSB LOANS IN 59 MINUTES is introduced by government of India to provide in principal approval for micro small medium enterprises loan facility from 10 lakhs to 1 corers  by the public sector bank.

It can be avail through a online portal named as PSBLOANSIN59MINUTES.COM  reducing the loan processing turnaround time from 20-25 days to 59 minutes, Post receiving of in principal approval letter the loan is expected to be disbursed with an interest rate of minimum 8%  in 7-8 working days.

It required a nominal payment of Rs.1180 including tax by the Borrower while applying the form in the portal.


It does not required  any physical documents for submission for in principal approval. The system uses highly advanced algorithms to read and analyze  data from income tax returns ,GST portal , bank statement and  MCA21. The portal is a strategic initiative of SIDBI led by 5 PSB consortium incubated under aegis of  DFS and MINISTRY OF FINANCE.

DOCUMENTS TO BE REQUIRED

1. MSME registration number  : there are certain business  who are exempted for/not required this number  other wise it is compulsory to have a MSME registration number .

2.GST Verification: Required GST ID as well as password along with GST certificate.

3. Income tax return:  3yrs back to back income tax returns to current assessment year in XML format.

4.Bank statement : Bank statement spanning over six month in PDF format.

5. Personal and business  details:  Basic  personal , business along with academic  details required

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6.KYC paper : a digitized version needs to be uploaded.




LINK :https://www.psbloansin59minutes.com/home.