For purchase of New Commercial Vehicles like, Buses, Trucks, Tankers, Tempos, Taxi, Four/Three wheelers, Electric vehicles, Ambulances, Hybrid commercial vehicles, CNG vehicles and any other vehicles of mass transportation for carrying passengers or goods on hire subject to the condition that the vehicle is approved by the competent authority for commercial purposes.
ELIGIBILITY
Individuals, proprietorship/ partnership firm/ Limited company/ Limited Liability Partnership, trust, society, associations owning and operating or proposing to own and operate transport vehicles for carrying passengers or goods on hire or for own Business purpose. The borrower (s) should have been granted a permit by an appropriate authority to ply vehicle(s) for passengers or goods traffic for hire.
Minimum required CIBIL score shall be-
For New individuals with credit History- 700 or above.
For New individuals with Insufficient Credit history : -1,3,4,5
or 101-200
For Existing individual Borrowers*-641 or above.
*Borrowers only having a record of regular/timely repayment for more than one year without any delinquency or default
QUANTUM OF FINANCE
80% of the cost of vehicle (pre-assembled/ cost of chassis/ cost of body/ cost of chassis & cost of body), onetime Registration Charges & Road Tax, and Insurance Charges.
Maximum limit that can be sanctioned under the scheme is Rs 5.00 Crore.
REPAYMENT
Moratorium Period*- Maximum 6 Months from the date of disbursement of loan.
*Moratorium period shall be available only for the vehicles where body is to be built, not for readymade vehicles.
Loan to be repaid in Equated Monthly Instalments (EMIs) in
Maximum 5 Years (exclusive of moratorium period, if any).
For branches located exclusive in Leh Ladakh region, the maximum repayment shall be 7 years inclusive of moratorium period.
PROCESSING CHARGES
@1.00% + GST
(One Time- applicable at the time of sanction only).
GAURANTEE
Individual / Proprietorship cases: Guarantee of spouse/major son or Third Party is required for any amount of loan.
Partnership Firm cases: No guarantee to be obtained as all the partners would execute the documents and would be liable jointly and severely.
Joint Stock Companies/ Trusts / Associations etc: Personal guarantee of any Director/ Trustee / Member (other than those who are executing the documents).
If guarantor is not available/provided, Borrower is required to take CGTMSE coverage.
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A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
