The following penal charges shall be applicable w.e.f. 01.04.2024:
Penal Charge (as tabulated below) will be recovered in case of default subject to a maximum of 3%. Bank may stipulate terms for levying penal charge @ 1% p.a. on monthly basis per default for the period of default, subject to a cumulative maximum of 3% p.a., other than normal interest rate, for the default events:
S. No.
Default Events
Penal Charge (per annum)
i
Default in repayment obligations
1%
ii
Overdrawing/excess drawing in CC/OD account beyond the drawing power or
Sanctioned limit including adhoc/ temporary sanctions, whichever is lower.
1%
iii
Non-perfection of security as per stipulated terms within stipulated time frame without any valid reason acceptable to the competent authority of the Bank
1%
iv
Non-submission of Stock/Book Debt Statements within the stipulated time period as per sanction terms
1%
v
Non-submission of Quarterly Information Statement (QIS)/ MSOD Statements, wherever applicable, within the stipulated time period without any valid reason acceptable to the competent authority of the Bank
1%
vi
Non-submission of Balance Sheet & P/L accounts (audited wherever applicable) within 6 months from the date of Balance Sheet without any valid reason acceptable to the competent authority of the Bank
1%
vii
Non-compliance to any financial covenant, if specifically mentioned in terms of sanction that such non-compliance would attract penal charges
1%
viii
Non-submission of renewal papers beyond the tenability period
1%
ix
Any other specific reason stipulated in the Terms of Sanction
1%
No penal charges shall be levied for loans up to Rs.25,000/-.
Penal charges as mentioned above shall be applicable on all credit facilities irrespective of nature, type etc.
The penal charges shall be levied on the default amount (excluding penal charges levied previously) in the account as on the date of default in case of non-payment of repayment obligations/overdrawing in accounts
The penal charges shall be levied on the balance outstanding (excluding penal charges levied previously) as on the date of default in all other cases except for financial default.
Charges shall be levied only for the default period on pro rata basis.
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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.
