New Customer with 6 months of operations and existing customers, Business entities which are individuals, firms, companies, Limited Liability Partnership, Co-operative Societies dealing in those business activities which are not prohibited by law.
GST registered units which have filed GST returns at least for the last six months, proposed to have sole banking arrangement for working capital requirement with us.
In case of partnership firm having operations of more than 02 years, the firm must be registered with Registrar of Firms.
Nature of Loan
Cash credit
Quantum of Finance
Minimum Amt: Above Rs.10.00 Lakh
Maximum Amt: Rs.1000.00 Lakh
Pruning Down of Limits
If actual turnover as reflected in GST returns decreases in succeeding years at the time of renewal, limit will be brought down to meet permissible bank finance 25% of the sales reported in GST returns.
Gradual reduction in limit – within 6 months subject to 50% reduction in limit within 3 months.
Margin
NIL
Stock / BD Statement
To be furnished at the time of sanction, Drawing Power shall not be arrived at based on stock. Frequency of Stock Statement shall be as under: Half Yearly – For loan upto Rs.50.00 Lakhs Quarterly – For loan above Rs.50.00 Lakhs
Primary Security
Hypothecation of assets created out of Bank finance.
Collateral Security
A) For Loan Amt upto Rs.5.00 Crore:
Where CGTMSE Coverage is not available:
Minimum 100% collateral security in the shape of SARFAESI enforceable immovable property or Bank approved liquid security. In shape RV of Immovable Property or liquid securities of NSCs/KVPs/ FDR/CDR (Accrued Value), LIP (Surrender Value) at least equivalent to 100% of total exposure.
Where CGTMSE Coverage is available:
Minimum 50% Collateral in Immovable Property (RV) or Bank approved liquid security. Remaining to be secured under CGTMSE by way of Hybrid model.
B) The exposure exceeded Rs.5.00 crore shall be secured by 100% collateral security in the shape of SARFAESI Enforceable immovable property or Bank’s approved liquid security. For exposure upto Rs.5.0 crore point (A) may be followed.
Note: Third party property is strictly not permitted.
Guarantee
Personal guarantee of all such owners/co-owners shall be obtained where the property offered as security is not in the name of borrower.
Proprietorship concerns: Wife/Major Son(s)
Firm/Companies: guarantee of Partners/Directors is mandatory.
In case of CGTMSE coverage is available: As per extant guidelines for CGTMSE.
ROI
Click Here for the rate of interest
Other terms and conditions
1) Our existing borrowers enjoying working capital units may be permitted to switch over to this scheme subject to the following:
• No release/substitution of existing primary/collateral security already charged to our Bank in the facility proposed to be switched over.
• No overdue at the time of switch over to this scheme.
2) GST returns must be verified from GSTN site and be kept on record.
Pre-Payment Charges
Nil, In case of closure of credit facilities on account of takeover, it will be as per extant guidelines.
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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.
