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PSB59 (psbloansin59minutes.com) is a fintech-enabled platform where MSMEs upload GST returns, ITRs and bank statements and receive an in-principle approval for working capital or term loans within 59 minutes. Final sanction and disbursement happen at the chosen bank branch.
Key features
- In-principle approval within 59 minutes
- Integrated with GSTN, ITR and bank statement data
- Multiple PSU and private banks on a single platform
- Loans from ₹1 lakh to ₹5 crore
Eligibility
- GST-registered MSMEs
- At least 6 months of bank statements and last filed ITR
- Clean credit history
Benefits
- Significantly faster in-principle approval
- Single application, multiple bank offers
Required documents
- ✓GST returns (12 months)
- ✓ITR (last filed)
- ✓Bank statements (6 months)
- ✓Business PAN and KYC
Application process
- 1RegisterCreate an account on the PSB59 portal.
- 2Upload dataGST, ITR, bank statements uploaded or fetched via API.
- 3In-principle approvalReceive in-principle sanction letter within 59 minutes.
- 4Branch processingVisit chosen bank for final sanction and disbursement.
FAQs
No. It is an in-principle approval. Final sanction is subject to the bank's own verification and policies.
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