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.
Eligibility
i) Individuals who have income tax assesses.
ii) Minimum gross monthly salary/income Rs. 30,000/-
• Entry Age: Minimum 18 years
• Exit Age: Service class non-pension – 60 years
• Service class with pension – 65 years
• Others – 65 years
iii) Salaried people, people engaged in trade, commerce and business, professionals, self-employed, individuals with high net worth, Partnership firms, Proprietary firms, Companies (Pvt./Public Ltd.), HUFs, Trusts, Societies, NRIs (subject to compliance with guidelines of Bank & RBI) are eligible under the scheme.
a) T/O exceeds Rs. 1 crore in case of persons carrying on business and receipts above Rs. 50 lacs in case of professionals.
Or
iv) If the borrower is enjoying working capital limits of Rs. 25 lacs and above. However, in case of limits above Rs. 10 lacs but less than Rs. 25 lacs, audited/CA certified financial statements are to be obtained. Accounts/borrowers where bank has/had made any sacrifice for settling their earlier accounts are not eligible.
Type of Facility
Term Loan
Quantum of Finance
Minimum: Rs. 0.50 lakh
Maximum: Rs. 10.00 Cr.
Security
a) Mortgage of the immovable property acceptable to the Bank. The estimated future life of the unit should be more than the proposed tenure of the credit facility.
b) That property/ construction is not unauthorized and property should be free from encumbrances. Land where SAFERASI Act is not enforceable should not be accepted as security.
Credit facility against agricultural property, immovable property wherein Municipal regulation for allocations to land is strictly not permitted. Vacant land may preferably not be taken as security under the scheme.
• Finance up to 65% of the realizable value of the property (WEF 10/02/2022).
• Cases where security in the form of NSCs/Bank’s Own Deposit/LIC Policies are Bank’s Own Deposit – 10% of Balance
• LIC Policy – 70% of Surrender Value
• NSC – 25% of Face value
Margin
Finance up to 65% of the realizable value of the property (WEF 10/02/2022).
Cases where security in the form of NSCs / Bank’s Own Deposit / LIC Policies are:
• Bank’s Own Deposit: 10% of Balance
• LIC Policy: 70% of Surrender Value
• NSC: 25% of Face Value
Repayment
General Loan: Maximum 15 years based on repaying capacity of the borrower subject to end of the period not to exceed the retirement age. (ROI shall be 1% above applicable ROI where tenor is above 10 yrs).
Mortgage Facility: Repayable on demand. The limit once sanctioned would hold on till the mortgaged facility is sustained. Renewal of facility at Bank's discretion as per Mortgage/ TOD facility structure.
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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.
