Punjab National Bank has launched an app, under which you can get loan digitally using GST invoice. This is the first public sector bank to give loans to small and medium sized businesses on the basis of GST profile.
Punjab National Bank (PNB) has launched a mobile application PNB GST Sahay App under the GST Sahay Scheme. This app will provide loans to MSME sector businessmen on the basis of GST. Now these businessmen will not need to go through lengthy processes. You will get instant loan under this app. With this initiative, PNB has become the first such public sector bank.
Money will reach directly into the account
This initiative of PNB will not only develop the MSME sector, but will also provide loans worth lakhs immediately. The loan process will be completely digital under PNB GST Sahay, which will make mutual intervention easier for the borrower. With the help of this service, money will be transferred to the existing bank account of the borrower.
Speaking on the launch of PNB GST Sahay App, Atul Kumar Goel, MD & CEO, PNB said that rapid FinTech developments are redefining the way we do banking. New types of credit facilities are being provided to the customers through several emerging digital solutions. With the help of technology, many issues related to valuation, market reports and valuation related problems can now be answered in just a few clicks.
Will boost the economy further
He said that by employing new technological advancements, PNB is working towards digitizing its credit journey to the maximum possible extent. Our bank has been in the forefront of serving the public as well as serving top industrialists and providing small loans to non-corporate agriculture and non-agriculture to MSMEs. This facility will further the country’s economy.
How much loan will be available
The credit limit for GST Sahay service starts from Rs 10,000 and goes up to Rs 2 lakh per invoice. Its maximum limit is subject to the limit of Rs 10 lakh. PNB GST Sahay makes loan payment for MSMEs a hassle-free one-time process by offering pre-payment option.
