His father, Bal Kishan Bansal, is a small business owner, while his mother, Kiran Bansal, is a housewife. Neha Bansal is his younger sister, and he has one older brother.
Peyush completed his education at Don Bosco School in New Delhi. He completed the Electrical-IT, Control, and Automation Bachelor of Engineering degree at McGill University in Canada.
Peyush has accumulated a net worth of approximately $1.3 billion with his company Lenskart, one of the biggest eyeglasses companies.