“PSB LOANS IN 59 MINUTES” is a Digital Platform put into operation to apply and get “In-Principle Sanction” for Business Loans within 59 minutes without any physical contact with Bank Branch. The salient features:

  • Bank has on boarded as user bank on the digital platform developed by M/s. ONLINE PSB LOANS LIMITED (formerly known as M/S Capita World Platform Private Limited), a FinTech Company acquired by SIDBI led Consortium of Banks to process MSME Loans.
  • The customers/clients who are registered with GST and have filed ITRs 3/4/4S/5/6 are eligible to apply through this digital platform. MSME loans from 2.00 lacs to Rs. 5.00 Crores shall be applied by customers/clients under the platform.
  • Borrowers shall apply through Market place URL:www.psbloansin59minutes.com through Canara Bank specific URL: :https://www.psbloansin59minutes.com/canarabankLenders shall process the applications through URL: www.psbloansin59minutes.com/sidbi
  • Loans Processing in PSB Loans in 59 minutes portal is a Digital In-principle Online Approval without any Banker interaction. The system is designed for In-principle Approval based on Banks Policy and Parameters. The system is completely digitized and it does not require any manual intervention for the same
  • The platform pulls the information from public data sources and on smart analytics, creating outputs which are matched to the policy parameters defined by the member banks.
  • MUDRA Loans (Fresh/Renewal) can also be applied through the platform with/without GST/ITR.
  • The decision-making process for a loan officer can become simpler as the solution provides a summary of credit, valuation and verification on a user-friendly dashboard.
  • Processing Charges/Upfront fee shall be collected as per the guidelines issued from time to time.

    • Conditions apply. The information provided above is only illustrative and not exhaustive.Contact: For more details, please contact your nearest: Canara Bank Branch or E-mail to: hosbu@canarabank.com