psbloansin59minutes.com|MSME Loans In 59 Minutes

psbloansin59minutes.com is recently launched By our Honorable Financial Minister Mr.Arun Jaitley. This loan scheme has been launched under the MSME Loans In 59 Minutes. The main motive of launching this psbloansin59minutes.com is to giving benefits to the Small business and small scale entrepreneurs. Under this scheme Your Loan application will be approved with in the 59 minutes.

PSB loans 2019 (psbloansin59minutes.com)

Micro, Small, Medium Enterprises is a central agency which is providing the opportunity to the Entrepreneurs and small Scale business to promote them. Under the Scheme An MSME can avail business loan from Rs 1 Lakh to Rs 5 Crore.

psbloansin59minutes.com
psbloansin59minutes.com

Features of MSME Loans In 59 Minutes

PSB Loans in 59 minutes is a platform at psbloansin59minutes.com, which will approve loans up to INR 1 Crore only in 59 minutes from 21 Public Sector Banks. Like State Bank of India, Punjab National Bank, Bank of Baroda etc. MSME Loans In 59 Minutes has shortened the loan processing time from 20-25 days to only 59 minutes. On PSB 59 Minutes Portal, Small business persons and small scale entrepreneurs are not required to submit any physical document in the form of hard copy for principal amount approval. You have to submit these documents which are listed IT returns, GST data, Bank Statements etc.

PSB Loans In 59 Minutes Scheme Important Dates

Scheme NameMSME Loans In 59 Minutes
Launch DateSeptember 2018
Start Apply online02 November 2018
Last Date to Apply online10 February 2019
BeneficiaryEntrepreneurs and small Scale Business

 Key Benefits Of psbloansin59minutes Scheme

  • Instant Approval of loan up to 1 Crore
  • Small interest only 2%
  • It is equipped with the highest level of Information Security
  • The user banks can create customized loan products as per their credit policy.
  • Fully compatible with existing banking processes.

 Documents for psbloansin59minutes.com

  1. GST Registration Identification Number
  2. Income Tax codes & E-Return detail
  3. Bank Account Statement Last 6 months
  4. Documents of ownership details
  5. Digital KYC details

Eligibility for psbloansin59minutes.com

  • You must have an bank account in public sector bank.
  • Applicant Should be a Tax payer of the country.
  • You Should be an Indian citizen.
  • You should have a business start up idea.
Mudra Loan Yojana 2019 

How to apply Psb Loans In 59 Minutes Scheme

  • Go to the official website at psbloansin59minutes.com
  • Click on the Apply online  in the bottom of this page.
  • You can directly apply for Psb Loans In 59 Minutes Scheme with these provided Direct links
  • When you will click on the apply online tab a new window will open where you have to registered yourself by giving some basic detail
  • After registration it will send you one time password. you have to verify your mobile number and then click on the proceed button.
  • Read all the terms and conditions carefully and then accept them
  • After successfully registration sign in with your detail
  • Fill the all required detail carefully
  • Upload the Required document
  • In the last click on the submit button.
for psbloansin59minutes scheme apply process
How to apply psbloansin59minutes scheme
Important Links
Apply OnlineClick Here
Official WebsiteClick Here
PSB 59 Minutes Loan FAQs
What is the minimum and maximum loan amount one can borrow through the portal?

An MSME can avail business loan from Rs 1 Lakh to Rs 5 Crore.

How do I make a loan application/ submit Proposal?

Applying for a loan at www.psbloansin59minutes.com.is a simple process:
a. Click on above mentioned URL.
b. Register using Name, Mobile Number and Email Id
c. Post Registration; provide required details to avail business loan approval within 59 minutes.
d. Already Registered? 

Do I need to provide fees for registration?

No, you don’t need to pay the registration fee.

Are there any eligibility criteria for the borrowers?

For Existing Businesses: Borrower should be GST, IT compliant and must have Six Months Bank Statement Facility.
Please note that, your loan eligibility is determined by your
Income/ Revenue
Repayment Capacity
Existing Credit Facilities
Any other Factors as set by Lenders
a. Income/ Revenue
b. Repayment Capacity
c. Existing Credit Facilities
d. Any other Factors as set by Lenders

What data/ documents will I need to submit if I want to make an application on psbloansin59minutes ?

An Existing business wishing to make an application on the www.psbloansin59minutes.com requires the following:
a. GST Details: GST Identification Number (GSTIN), GST User Name and OTP
b. Income Tax Details: Upload ITR in XML format
c. Bank Statement: Upload Bank Statements for last 6 months in PDF format (Borrower can upload Bank Statements for Maximum 3 Bank Accounts on the Portal. Please upload bank statements having Major Business Activities)
d. Details of Directors/Partners/Proprietor
e. Details related to Loan Required

Is psbloansin59minutes a secure Platform? Is my data secure with the portal?

Your data is our atmost priority. The portal do real time loan evaluation process with the data made available. Your data is safe with our cloud servers. We never ask/store your credentials.

What assurance do I have that my data will not be mis-utilized?

At psbloansin59minutes portal we venture to provide a safe and secure environment for the borrowers to complete their journey. We never ask/store your credentials, and the data inserted by you are only utilized to do real time loan evaluation.

What if I do not file/have GST Return/Income Tax Return/Banking Details?

We are sorry, you will not be able to complete the borrower journey on psb loans in 59 minutes

I am GST/ ITR and Bank E-Statement Compliant. Though, I currently don’t have all the details required for the application process. What should I do?

Kindly ensure you got all the documents required in digital format for the application process. In case you don’t have some documents, kindly log out from the platform. Collect all the required documents and again login. You don’t need to start again from the beginning. You will be directed to the page where you pressed log out. Enter your details and proceed further. Click here to Login in case of any further assistance; feel free to call us on 079-41055999.

Do I have to make any payment for receiving the In-Principle approval?

For registration purpose, the borrower doesn’t need to make any payment. Any borrower whose proposal matches with the products of lenders and wants to receive an In-Principle approval will be required to make a nominal payment of Rs. 1,000 + Applicable Taxes.

Do I need to pay any charges ?

For registration purpose, the borrower doesn’t need to make any payment. Any borrower whose proposal matches with the products of lenders and wants to receive an In-Principle approval will be required to make a nominal payment of Rs. 1,000 + Applicable Taxes.

How do I check the status of my application?

Post receiving In-Principle Approval, you can check the status of your application on the web portal by signing in with your registration details. 

I accidentally pressed log out while in middle of the application process? What should I do?

Don’t worry. Login again on web portal with your registration credentials. You don’t need to start again from the beginning. You will be directed to the page where you pressed log out or got disconnected

I did not receive OTP. What should I do?

We send OTP to registered mobile as well as to Email Id. Kindly check if you have received or not in both or either of them. In case not received, contact us on 079-41055999.

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