Medical Practitioners registered with statutory bodies like, MCI, DCI, CCIM, CCH etc. and having minimum qualification MBBS/BDS/BPT/ BAMS or equivalent professional degree.
Constitution of borrower
Individual, Joint borrowers, Proprietorship, Partnership, LLP, Company (Pvt /Public ltd), Hospitals which are being run /managed by Trusts / Institutions and concerns where majority of share holding is by qualified medical practitioners.
Purpose
Setting up/ acquiring/ construction/ Expansion/renovation of clinics, Hospitals/ Pathological/ Clinical Labs, Diagnostic Centers/ Physiotherapy centers, Nursing Homes, etc. including furniture fixture, medical equipments and for purchase of vehicles, ambulances/lifesaver ambulances, etc.
Quantum of loan
Minimum: Rs 5 lakhs
: Rs. 500 lakhs
Working capital facility is restricted to maximum 5% of the Term Loan facility sanctioned ‘or’ Rs 10 lakhs whichever is lower.
The maximum quantum should not exceed Rs 500 lakhs in case of composite facility i.e. Term Loan & Working Capital.
Assessment of finance
Working Capital Limit:
For running units, WC is fixed based on the 75% of Revenue Expenditure of previous year as per audited balance sheet.
For new units, WC is fixed based on the 60% projected Revenue Expenditure.
DP is derived on the basis of 75% of stocks/ 60% book debts.
Term Loan: 75% of the cost of assets purchased ‘or’ 65% for purchase/ construction/ expansion/ renovation/ modernization of premises.
Minimum Net DSCR (debt service coverage ratio) :- 1.25:1
Margin
25% for purchase of equipment/ machinery/ vehicles etc.
35% for acquisition of premises and/ or expansion/ renovation/ modernization of existing premises.
25% on stocks
40% on book debts.
Security
Primary Security for Term Loan:
Hypothecation of assets to be purchased/acquired with the help of Bank’s finance.
Mortgage of business premises if financed by the Bank.
Primary Security for Working Capital facility: Hypothecation of stocks/ book debts
Collateral security:
i) Loan upto Rs 10 lakhs: No third party guarantee and/or collateral security is required and the same should be covered under CGTMSE.
ii) Loan above Rs 10 lakhs and upto Rs 200 lakhs: Collateral security by way of immovable property or liquid securities such as deposits, NSCs, surrender value of LIC policies, equivalent to 100% of the total exposure. Or, else the loan will be covered under CGTMSE.
iii) For loan above Rs.200 lakhs and upto Rs 500 lakhs: Collateral security by way of immovable property or liquid securities such as deposits, NSCs, surrender value of LIC policies, equivalent to 100% of the total exposure.
However, for loans sanctioned for acquiring premises for opening of Hospitals/ Labs/ Clinics etc. borrower to submit suitable collateral equivalent to the Sanctioned amount for the intervening period till valid mortgage of the property financed is created in Bank’s favour.
@ 2.0 % over and above the normal rate shall be charged on the amount of default, in case of delay / default in payment of instalment / interest.
Guarantee
Loan upto Rs. 200 lakhs: No guarantee required, if covered under CGTMSE.
In all other cases, guarantee of Spouse/ major sons/ partners/ directors/ trustees/ suitable third party is required.
Personal guarantee of partners/directors is required in all cases irrespective of coverage under credit guarantee scheme.
If owner of the mortgaged property is other than borrower, the guarantee of property owner is equired.
Guarantor should enjoy good reputation in the market/field along with networth of atleast 200% of loan amount
Repayment
For Term Loan
Repayment Period:Loan to be repaid in Equated Monthly Instalments (EMIs) in Maximum 7 Years (inclusive of moratorium period, if any).
Moratorium Period:
a) Maximum 2 years including construction period in case of new construction of business premises financed by bank.
b) In all other cases maximum moratorium of 1 year may be allowed by the Bank based on the justification and merits of the case.
For Working Capital facility:
Repayable on demand. Credit facility is subject to annual renewal. Interest to be serviced as and when due.
Prepayment
The prepayment facility is allowed without any charges but not within one year of the loan availment. On pre-closure within one year of sanction, prepayment penalty @1 % of the sanctioned amount to be charged.
Additional Benefits
Locker Rent Concession: 50% concession on locker rent for self and spouse for first two years, who avail loan under this scheme.
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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.
