To extend credit to owners of commercial/ residential premises rented to our bank against rent receivable for meeting business requirements and/or personal expenses, other than speculative purposes.
Eligibility
Landlords/owners of our bank’s premises
Type of Facility
Term Loan
Quantum of Credit
Minimum: Rs. 10.00 lakh
ii) The quantum of finance is subject to the following:
S.No.
Loan Tenure or unexpired period of lease with a minimum period of 3 Years (Whichever is less)
Maximum Quantum of loan (% of rent receivable during the period of tenancy or loan tenure, whichever is less)
1
3 to 5 Years
80
2
Above 5 to 6 Years
75
3
Above 6 to 8 Years
70
4
Above 8 to 10 Years
65
5
Above 10 to 12 Years
60
6
Above 12 to 15 Years
50
Net rent receivable means rent after deducting TDS/Income Tax, local tax/maintenance charges and any other charges to be paid by landlord as per lease agreement.
Amount of credit should not exceed 70% of the fair market value of the property after deducting existing encumbrance if any.
Loan account gets adjusted within the lease period.
In case of fall in rental value, borrower shall arrange margin from his own sources.
Security
Primary: Assignment of future cash flows/receivables including lease rentals.
Collateral: No collateral security required as the property is already leased out to the bank.
Guarantee
i) Individual: The spouse or the legal heirs of the borrower.
ii) Partnership Firm cases: No guarantee to be obtained as all partners would execute the documents as borrower and would be liable jointly and severally.
Joint Stock Companies / Trusts / Associations etc.: Personal guarantee of all Directors / Trustees / Members.
Repayment
Maximum: 15 Years.
Prepayment
In case of individual borrower (including proprietorship) for personal purpose: NIL
For business purpose: 1% of O/S Balance
Processing Fees
One time @ 1% of sanctioned amount
PSB Rent for General Public
Purpose
To extend credit to owners of commercial/ residential premises against rent receivable for meeting business requirements and/or personal expenses, other than speculative purposes.
Eligibility
Landlords/owners of commercial/ residential property who have rented their premises to Govt. Deptt./ PSUs / Pvt. or Public Ltd. Companies / MNCs / Embassy or any other Organization of repute.
Premises should not be leased to Social Infrastructure projects like Schools, Nursing homes etc.
Loans under the scheme will not be extended, where lessee is an individual or a proprietary concern.
Type of Facility
Term Loan
Quantum of Credit
Minimum: Rs. 10.00 lakh
i) The quantum of finance is subject to the following:
S.No.
Loan Tenure or unexpired period of lease (whichever is less), with a minimum period of 3 years
Maximum Quantum of loan (% of net rent receivable during the period of tenancy or loan tenure, whichever is less). Any increase in rent during lease period may be accounted for.
1
3 to 5 Years
70
2
Above 5 to 8 Years
65
3
Above 8 to 10 Years
60
4
Above 10 to 15 Years
50
ii) Net rent receivable means rent after deducting TDS/Income Tax, local tax/maintenance charges and any other charges to be paid by landlord as per lease agreement.
iii) Quantum of finance should not exceed 70% of the FMV of the property mortgaged.
iv) Quantum of finance should be restricted in such a way that income from monthly rent is sufficient to serve EMI and loan account gets adjusted within the lease period.
v) In case of fall in rental value, borrower should arrange margin from his own sources.
Security
Primary: Assignment of future cash flows/receivables including lease rentals.
Collateral: Mortgage of property being given on lease and against which loan for rent receivables requested.
In cases where the leased property cannot be mortgaged, then some other suitable property can be mortgaged. A tri-partite agreement in respect of rented property should be executed amongst lessor, lessee and the bank.
Guarantee
i) Individual: The spouse or the legal heirs of the borrower.
ii) Partnership Firm cases: No guarantee to be obtained as all partners would execute the documents as borrower and would be liable jointly and severally.
iii) Joint Stock Companies / Trusts / Associations etc.: Personal guarantee of all Directors / Trustees / Members.
Repayment
Maximum 15 Years, subject to unexpired period of rent/lease agreement.
Prepayment
Individual Borrower – NIL
Non-Individual – 1% of O/S balance
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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.
