Loans to individual only for any Business/Agriculture/Personal purpose
against the security of gold or silver.
An undertaking that funds of loan will not be used for any speculative
purpose to be taken from the Borrower.
Eligibility
Credit facilities shall be granted to fully KYC compliant customers
including staff members, ex-staff and their family members
Jewel loan facility can be sanctioned to NRI customer, jointly with Indian
resident only. Loans can be granted against gold or silver Jewellery/Coins.
The aggregate weight of Jewellery/Coin pledged shall not exceed 1 kilogram
for gold Jewellery, and 10 kilograms for silver Jewellery per Borrower
The aggregate weight of coin(s) pledged shall not exceed 50 grams in case of
gold coins, and 500 grams in case of silver coins per Borrower
Type of Loan
*Interest may also be served on monthly/quarterly/Half
Yearly
installment.
Demand Loan (DL)* (Interest plus principle is repayable/demanded on maturity
of term of loan as bullet repayment)
Overdraft (OD) (Interest is due/repayable on regular intervals viz M/Qt/Hy).
Term loan (TL) (Intt. and principle is due and repayable in Equal Monthly
Installments).
Quantum of Finance
Minimum Loan Amount- Rs.25,000/-
Maximum Loan Amount - Rs.50.00 lakh per borrower including Top Up Loan
Security
Pledge of Gold or Silver Jewellery/Coins.
Methodology adopted by bank for determination of net weight of gold / Silver and price used to value
the gold / Silver contents of the eligible collateral for determination of LTV ratio:
1.
Gross weight of Jewellery/Coin in grams
A
2.
Weight of stones, wax & other metals in Jewellery/Coin in grams
B
3.
Net weight of gold excluding stones, wax, metals etc in Jewellery/Coin in grams
C=A-B
4.
The net weight of gold with purity 22 carat (purity other than 22 carat to be converted into 22 carat)
D
5.
Gold rate per gram fixed by the Bank
E
6.
Value of Gold as per Bank rate as on the date of loan
F=D*E
7.
Net weight of silver excluding stones, wax, metals etc in Jewellery/Coin in grams
G
8.
Silver Rate per gram fixed by the Bank
H
9.
Value of Silver as per Bank rate
I=G*H
10.
Eligible Security Value
J=F+I
11.
Margin as per stipulated LTV
K
12.
Eligible loan amount after stipulated margin
L=J-K
13.
Loan Applied by the customer
M
14.
Maximum Permissible Bank Finance eligible as per Table A
N=Lower of L/M
Gold or Silver accepted as security shall be valued based on the reference price corresponding to its
actual purity (caratage). For this purpose, the lower of
The average closing price for gold or silver, as the case may be. For gold or silver the average
closing price of that specific purity (22 Carat at present for gold as decided by the Bank) over
the preceding 30 days,
The closing price for gold or silver, as the case may be. For gold or silver the average closing
price of that specific purity (22 Carat for Gold at present as decided by the Bank) on the
preceding day, as published either by the India Bullion and Jewellers Association Ltd. (IBJA) or
by a commodity exchange regulated by the Securities and Exchange Board of India (SEBI) shall be
used.
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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://punjabandsind.bank.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://punjabandsind.bank.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
PSB Diwali English
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