Individuals and Proprietorship Firms
1. Applicant must be a resident of Uttar Pradesh.
2. Age – 21 to 40 Years.
3. Education qualification – Minimum 8th Pass or equivalent.
4. Others:
• Applicant must not have availed benefits in terms of subsidy under any other central/state scheme, except PM Svanidhi.
• Applicant should be trained under government-operated programs like Vishwakarma Shram Samman Yojana, ODOP Training, SC/ST/OBC Skill Enhancement or similar certified course.
• Beneficiaries who repay principal and penal interest within 4 years will be eligible for second phase financing.
• Defaulters under Phase 1 will not be eligible for Phase 2 funding.
Project Cost
FOR FIRST PHASE:
• Max project cost: ₹5.00 lakh.
• If project exceeds ₹5 lakh up to ₹10 lakh → No subsidy on excess amount.
FOR SECOND PHASE (EXPANSION):
• Max project cost up to ₹10.00 lakh.
• For project cost above ₹10 lakh and up to ₹20 lakh → Loan allowed, subsidy only on max ₹7.50 lakh.
• 50% interest subvention for 3 years from disbursement on eligible subsidy amount.
Purvey of Scheme
All branches located in Uttar Pradesh.
Nature of Facilities
• Term Loan
• Working Capital (Cash Credit/Overdraft) Note: Loan will be composite in nature, minimum 10% of project cost must be Term Loan.
Quantum of Finance / Project Cost
Phase I
• Project cost up to ₹10.00 lakhs
• 1. Up to ₹5 lakh
• 2. Above ₹5 lakh to ₹10 lakh
• Subsidy up to project cost of ₹5.00 lakh
• Maximum loan: 4.50 lakhs (approx.)
• Bank loan = Project cost – Owner’s Contribution (minimum 10%)
Phase II
• Eligible only after full repayment of Phase I loan.
• Project cost up to ₹20.00 lakhs.
Economically Backward Geographical areas in the state (Bundelkhand and Purvanchal regions) / Residents of Aspirational Districts
10% of the project cost
NOTE: Margin Money contribution will be front-ended.
Margin Money Subsidy
The beneficiary will be given a margin money subsidy of 10% of the project cost or a maximum of ₹5.00 Lakh, whichever is less.
For units with project cost exceeding ₹5.00 Lakh and up to ₹10.00 Lakh, the beneficiary will have to arrange the loan/finance from their own sources, and no subsidy will be payable against this.
This subsidy will be back-ended.
If the project is not established or is closed within 4 years, the margin money subsidy amount will not be released to Borrower.
This subsidy will be adjusted in the beneficiary’s account after the unit has been operational for 4 years.
NOTE: No margin money subsidy will be payable for the second phase project.
Interest Subsidy
FOR FIRST PHASE:
An interest subsidy on 100% of the loan taken from the bank against the project cost or a maximum of ₹2.00 lakh, whichever is less, will be provided for the next 4 years from the date of financing.
The state government will also bear the necessary amount for CGTMSE coverage for 4 years.
FOR SECOND PHASE:
Projects up to ₹10.00 Lakh are covered and an interest subsidy of 50% on the loan amount will be provided for the next 3 years from the date of financing.
Units with a project cost exceeding ₹10.00 lakh but up to a maximum of ₹20.00 lakh can be expanded under the second phase. However, an interest subsidy of 50% on the loan amount up to a maximum of ₹7.50 lakh will be provided for the next 3 years from the date of financing.
The beneficiary will have to arrange the remaining loan/finance from their own sources.
The state government will also bear the necessary amount for CGTMSE coverage for 3 years in the second phase.
The interest subsidy will be provided on a quarterly basis.
If the beneficiary has availed CGTMSE coverage on any loan from their own sources from a financial institution/bank, there will be no restriction on providing the loan and CGTMSE coverage under the proposed scheme.
Moratorium Period
A moratorium period of maximum 6 months will be given from the date of the disbursement.
Repayment
FOR FIRST PHASE:
Working Capital: 12 months subject to annual renewal as per extant guidelines.
Term Loan: Maximum 4 years including moratorium period of maximum 6 months.
However, interest is to be serviced during moratorium period.
At the end of 4th year both the facility to be fully liquidated.
FOR SECOND PHASE:
Term Loan: Up to 36 months.
Working Capital: Limit to be reviewed every year.
At the end of 3rd year both the facility to be fully liquidated.
Guarantee
The facility to be covered under CGTMSE as per extant guidelines of CGTMSE.
No third party guarantee need to be obtained.
Note: If the beneficiary has availed CGTMSE coverage on any loan from their own sources from a financial institution/Bank, there will be no restriction on providing the loan and CGTMSE coverage under the proposed scheme.
The link will open only through bank's intranet and it will not open through internet
×
“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.
