This is an all-purpose credit facility i.e. to meet legitimate need-based expenses viz- marriage/medical / educational expenses / repairs / renovation / extension to the residence / commercial property/ purchase of consumer durables or any unforeseen expenses.
iii) Salaried people, engaged in trade, commerce, business, professionals, self-employed, high net-worth individuals, Partnership firms, Proprietary firms, Companies (Pvt./Public Ltd.), HUFs, Trusts, Societies, NRIs (as per Bank & RBI guidelines) are eligible.
a) Turnover exceeds Rs.1 crore for business persons and receipts above Rs.50 lakh for professionals.
OR
iv) Borrowers enjoying working capital limits of Rs.25 lakhs and above.
For limits above Rs.10 lakh but less than Rs.25 lakh, audited/CA-certified financial statements must be obtained.
Accounts where the bank has made any sacrifice for settlement earlier are not eligible.
Type of facility
Term Loan
Quantum of Finance
Minimum: Rs.5 Lakh
Maximum: Rs.10.00 Cr
Security
a) Mortgage of immovable property acceptable to the Bank. The estimated future life of the unit should exceed the proposed loan tenure.
b) Property must not be unauthorized and must be free from encumbrances. Land where SARFAESI Act is not enforceable shall not be accepted.
Loans against agricultural property or immovable property with Educational/Religious Institutions are not permitted.
Vacant land is preferably not accepted.
Margin
Finance up to 65% of the realizable value of the property (w.e.f. 10.02.2022).
For NSC/Bank’s Own Deposit/LIC Policies:
• Bank’s Own Deposit – 10% of balance
• LIC Policy – 10% of surrender value
• NSC – 25% of face value
Repayment
Term Loan: Maximum 15 years based on borrower’s repayment capacity while ensuring net take-home salary/income criteria. (ROI shall be 50 bps higher if tenure exceeds 10 years.)
Overdraft Facility: Repayable on demand. Limit valid for 3 years and subject to annual review. Not allowed for salaried borrowers. Adhoc/TOD facility strictly not permitted.
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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.
