For purchase of: New & Old Four-Wheeler Vehicles (Not older than 5 years)
New Two-Wheeler Vehicles. Non- commercial use & to be registered as private vehicle.
Eligibility
Individuals as well as business concerns (Corporate or non-corporate).
Age Limit
Minimum: 18 years
Maximum: Subject to adjustment of loan for Individuals / Prop. before the age of:
Service class non pension – 60 years, Service class with pension/ others – 70 years
Quantum of Finance
i) For Individuals & Proprietorship concerns:
New Vehicles- No maximum ceiling
Old Vehicles: Rs.75.00 Lac
Income of spouse / major children / brother/ daughter-in-law/ parents can be clubbed subject to their becoming co borrower or guarantor in the loan.
Net take home salary / pension after deduction of installments for all loans taken including the EMI for the proposed loan should not be less than as per the table: -
For business concerns and Institutions (corporate or non-corporate):
New & Old Vehicles:
Repayment period up to 3 years: Twice the average annual cash accruals (PAT+Dep.) as per the last year balance-sheet (audited/CA certified), P&L Account.
Up-to 5 years: Thrice the average annual cash accruals i.e. PAT + Dep.
Above 5 years and up to 7 years: Five times the avg. annual cash accruals i.e. PAT+ Dep.
No maximum ceiling on amount of finance and number of vehicles to be financed to single entity.
Margin
New vehicles: On-road price inclusive of one-time road tax, registration & insurance.
All customers-10%
Govt /PSU Employee- 5%
Govt/PSU Employee where salary a/c is with our bank- Nil
Guarantee
i) Individual / Proprietorship cases:
Where installment is paid through deduction from salary/salary account: Waived
In other cases: - Guarantee of Spouse/Major Children /Third party to be obtained
However, where gross monthly income of borrower including co-borrower is Rs.50000 & above, guarantee is waived.
ii) Partnership Firm cases: Nil
iii) Joint Stock Companies/ Trusts / Associations etc.: Personal guarantee of any Director/ Trustee / Member (other than those who are executing the documents).
iv) If co-borrower is taken in any case, the guarantee may be waived by giving justification in the proposal.
ROI
Linked to EBLR, as per HO RMD
Repayment Period
For new four-wheeler vehicles: Max. 84 months.
For new two-wheeler vehicles: Max. 36 months.
For old vehicles: Max. 60 months subject to the age of the vehicle (total period of Repayment plus age of vehicle not to exceed 84 months) *
Prepayment charges: Nil for individual/ proprietorship. In case of loan takeover of a corporate borrower it is 1% on balance o/s.
Assessment of Repayment
Salaried: Salary slips for last 2 months for salaried class
Corporate / non-corporate: latest balance sheet
3 years ITR also to be obtained for analysis purposes for observing consistency in the income (exceptions allowed).
Processing Charges
Four-Wheeler Loan: 0.25% on the loan amount, subject to a minimum of Rs.1000.00 and maximum of Rs.15000.00
Two-wheeler Loan: 0.25% on the loan amount, subject to a minimum of Rs.1000.00. Processing charges are waived for staff members, retired employees of our bank, pensioners drawing pension through our bank and staff guaranteed accounts of their family members (Guarantee can be given by staff members with prior permission from competent authority.
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“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”
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.
