Personal Loans

Area Covered
State of Punjab
Employees of this bank working in SADB & PADBs and employees of Punjab Govt. in the state of Punjab & Chandigarh.
To provide credit facility for meeting out socio-economic needs of employees or any other basic requirements without giving any purpose of the loan.
A person should meet the following conditions
  • should be of minimum 21 years and maximum 57 years of age.
  • should be a nominal member of the PADB.
  • should reside/work in the service area of the PADB.
10 months gross salary or Rs. 4 lakhs (whicever is less).
Disbursal of Installments
Single Installment
Repayment Period
Equated monthly installments in the form of post dated cheques. Total duration of the loan cannot exceed seven years in any case.
Documents To Be Submitted
Pre-Sanction –
  • Application Form
  • 4 latest passport size photographs
  • Bank account statement
  • Proof of income (Salary Certificate duly signed and stamped by the DDO)
  • Employer’s certificate of identity and proof of continuity of current job
  • Proof of residence
  • Nominal Membership Form
  • Affidavit that Personal Loan from any other PADB/Department is not taken

Post-Sanction –
  • Agreement
  • Signature verification
  • Post dated cheques
  • Two guarrantors
  • Promissory Note
  • Letter of Waiver