Punjab and Sindh Bank Loan 2024:Taking a loan is one of the best ways to get instant Money without taking favor from any person friend or relative, at present you have various sources to take the loan whether it is a bank or an online platform such as loan applications. if you are also looking for a loan then this article “Punjab and Sindh Bank Loan 2024” is for you this time, we are going to explain to you, how you can take a loan from a famous reliable Indian bank. For getting all the information about Punjab and Sindh Bank Loan 2024 read this complete article.
As everyone knows Punjab & Sindh Bank is an Indian nationalized bank, whose customer base is in lakhs. It is owned by the Ministry of Finance of the Government of India and its head office is located in New Delhi. Punjab and Sindh Bank provides a variety of services to its customers. Due to this, the number of customers is continuously increasing. Various services, as well as MSME loan facilities, are easily available to the respective customers of Punjab & Sind Bank. Through this, every citizen of the country can live a better life by getting a Punjab and Sindh Bank Loan 2024 for his business.
Punjab and Sindh Bank Loan 2024 Application Process
If you want to get your employment loan, and you want to know how to get a business loan from Punjab & Sind Bank, then this article can be important for you. Through this article, we will provide you with information related to Punjab and Sindh Bank Business Loan – interest rate, eligibility, and required documents. We request you to read this article till the end.
Loan Schemes of Punjab and Sindh Bank
Punjab and Sindh bank credit linked capital subsidy scheme.
Purpose of the scheme: With the help of this scheme, you can easily get a loan for the This scheme modernization of plant and machinery as well as technology.
Benefit/amount of the loan: you can get a loan amount of a maximum of 1 crore rupees for your business.
Capital Subsidy: 15% of the investment or Rs 15 lakh, whichever is less, will be provided as capital subsidy in plant and machinery.
Punjab and Sindh Bank MSME loan
MSME loans are a specific type of financial assistance for those who are looking for business improvement. MSME loans are for micro, small, and medium enterprises where businessmen can get verified financial assistance. RBI defines MSME as unsecured loans and Punjab & Sind Bank is one such bank that has been the leading bank in providing MSME loans.
Through this organizational business plan, loans can be availed for retailers/wholesalers, self-employed, professionals, contractors, and other small businesses. Information related to loans under this Punjab and Sindh Bank Loan 2024 is given below, and under the PSB Loan scheme, the eligible person will be provided a PSB loan in various options, such as loan caution, cash, overdraft, bank guarantee, interview letter, etc.
Benefits and amount of the PSB Loans 2024
you can get a loan of the amount 10 lakh rupees to up to 20 lakh rupees.
Doctor Special loan scheme
The basis of this scheme is for BDS/MBBS doctors. Through which loans can be taken for the establishment, and expansion of clinics, construction of nursing homes, improvement, and ambulance. Through this scheme, along with cash loans, loans can also be provided in the form of term loans and overdrafts:
Loan Amount: The maximum loan amount through the Doctor Special Scheme is ₹10000000. Which can be easily obtained. Additionally, the hypothecation limit for loans in the form of overdraft or cash credit is up to ₹1000000.
Security: To secure this loan, you will have to provide a guarantee against property like a house/land, etc.
Guarantee Security: No guarantor or security is required for personal loans up to Rs 2500000. The bank can set the amount from Rs 2500000 to Rs 10000000 per land as per its policy.
Additional Benefits: Additionally, the individual will also be given a 50% discount on locker rent for self and spouse for the first 2 years.
Laghu Udhyami Credit Card (LUCC) scheme
Laghu Udhyami Credit Card is suitable for artisans, professionals, self-employed individuals, retailers, and rural industries. This card is for individuals who want to start their own business. To get a loan, the person must have good dealings with the bank for the last 3 years. For small businessmen, 20% of the highest annual transactions made in retail business accounts during the last year will be declared as the loan value determined for the purposes. The evaluation conditions for small industrial units are limited and as per the recommendations. As per income tax return, for self-employed and professional individuals, 50% of annual income will be considered as a card limit.
Under this scheme, all existing and potential owners of group brick kilns can easily avail of loans. The bank provides permission under this scheme to corporates, proprietorships, partnership firms, and individuals.
Loan Details – Under this scheme, loans are allowed to be taken as caution and working capital.
Loan amount: The loan amount is determined according to the cost of the project. The maximum amount is Rs 50 lakh.
Security for the loan: Property purchased with a loan is seen as the primary security. Personal guarantees of bank promoters, owners, and partners may be accepted by the Bank. The bank may accept residential property and deposits as collateral security. If covered by ACGTMSE, it does not require any collateral guarantee.
Punjab and Sindh Bank Loan interest rate and other information
|Interest rate of the Punjab and Sindh bank
|Up 36 months from the day of taking a loan
|Tenure of the loan
|Up 36 months from the day of taking loan
|Punjab and Sindh bank processing fee
|Up to 2.50% of your loan amount (Minimum 2,359 rupees to up to 88,500 rupees)
|Prepayment of scheme of the loan
|07–24-month loan 4% fee 25-to-36-month loan -3% free more than 36 months- 2% fee
|07–24-month loan 4% fee 25-to-36-month loan -3% feeMore than 36 months- 2% fee
Eligibility criteria for the Punjab and Sindh bank loan scheme
|Applicant’s age should be between 21 to 60 years
|Age criteria for the loan
|the minimum turnover you need
|CIBIL score required for the loan
|750 and above
|Minimum turnover you need
|ITR month details
|owned home or workplace
Documents you need for the Punjab & Sindh Bank Loan 2024
|Applicant pan card
|Bank statement of the last 3 months
|Profit and Loss (P&L) Statement
|Income tax return details
How to apply for the Punjab and Sindh bank loan?
- Firstly, you have to visit the official website: https://punjabandsindbank.co.in/. After which the homepage will open on your screen.
- On the homepage of the website, you will find the PSB loan application form for MUDRA and the option for MSME in the “Products and Services” section. On which you have to click.
- As soon as you click, a page will be displayed on your screen. From this, you will have to download the MSME and MUDRA application form.
- Now after downloading the form, it will have to be printed.
- After this, you will have to fill in all the information asked in the form carefully. After filling in all the information, you will have to attach your documents along with the form.
- Finally, after checking the PSB Online Loan form, you will have to go to your nearest bank branch and submit the form.
- After this, you will get a call and you will be informed about the process.
- In this way, you can apply for Punjab and Sindh Bank Loan very easily.