psbloansin59minutes.com is an online marketplace to cater to various financial aspirations of individuals and businesses in a simple, quick and hassle-free way. The Platform has set a new benchmark in loan processing by reducing turnaround time for In-principle approval from days to less than 59 minutes. Post receiving In-principle approval letter, the loan is expected to be sanctioned/ disbursed in around 7-8 working days. The Platform is currently being used by more than 25 Public & Private Sector Banks and NBFCs.
The Platform provides Business Loan (Term Loan and Working Capital Loan) In-principle approvals for value from INR 1 Lac to INR 5 Crore and Mudra (Business 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.
The user-friendly portal offers a contactless journey where a borrower is not required to visit bank branch for In-principle approval. The Platform uses advanced algorithms to analyze data points from various sources such as IT returns, GST data, Bank Statements etc.
psbloansin59minutes.com is a comprehensive & unique platform integrated seamlessly with existing infrastructure of banks. This is the only platform having Banker Interface covering Branch level integrations. The Platform along with offering ease of finance to borrowers also offers quality information to the banks by using multiple technology interventions so to provide faster solutions for internal decision-making processes of Bankers.