§1Who it is for

  • MSMEs, MUDRA and retail borrowers seeking in-principle approval online

Useful if

Borrowers who want a quick in-principle check, then go to the branch

Do not spend time on it if

Anyone expecting money in 59 minutes

§2Eligibility

Not published

The guideline does not list eligibility conditions. Ask the portal or bank before you apply — we do not make up lists.

§3Benefits

  • In-principle approval online, followed by sanction at the branch.

§4Norms — pattern of assistance

Not published

The guideline does not list the norms. Ask the portal or bank before you apply — we do not make up lists.

§5Documents

Not published

The guideline does not list the documents. Ask the portal or bank before you apply — we do not make up lists.

§6How to apply

  1. 1

    Apply on psbloansin59minutes.com. Final sanction and disbursement are by the bank branch.

§7Pros and cons

Merits

  • As on 25.12.2018, 1,12,043 of 1,31,028 completed applications got in-principle approval (Rajya Sabha, Jan 2019).

Demerits

  • In-principle approval is not sanction: in the same 2019 reply, only 40,669 cases had been sanctioned.
  • The government's own 2025 review highlights JanSamarth and the new PSB credit assessment model instead, which suggests these routes have taken its place.

→Related schemes

Need help with PSB Loans in 59 Minutes?

Eligibility check, DPR and application file — ask us on WhatsApp.

WhatsApp usServices

Our interestHelp is our paid service. You can also apply for the scheme yourself.

Sources

  1. PSB Loans in 59 Minutes portal
  2. Rajya Sabha Unstarred Q 2129, 2 Jan 2019 (PSB Loans in 59 Minutes)
  3. PIB, 10 Jan 2026: Ministry of Finance Year Ender 2025 - Department of Financial Services

Checked on 18 October 2026. For information only — confirm with the department or bank. Spotted a mistake? Report it.