Punjab & Sind Bank Business Loan
Last Updated : May 28, 2021, 9:12 p.m.
Now avail the business loan against the hypothecation of assets and accelerate your business. Punjab & Sind Bank offers the loan to the applicants against the security. The realizable value of immoveable property ranges from 65% -75%. The eligible candidates can avail loan up to Rs.5 Crores. The loans are provided at the competitive rate of interest.
Punjab & Sind Bank Business Loan Details
| Particulars | Details |
|---|---|
| Interest Rate | 10.55% - 13.05% |
| Loan Amount |
Minimum : Rs.1,00,000
Maximum : Rs.5,00,00,000 To new enterprises : Rs.50,00,000 |
| Tenure | Not Specified |
| Processing Fee | As per bank's policy |
| Type of Loan | Secured |
| Margin | 65% - 75% of the realizable value of immoveable property |
How To Apply
The eligible candidates can apply for the business loan by visiting the nearest Punjab & Sind Bank Branch. You can even call on the customer care number to apply for the same.
Punjab & Sind Bank Business Loan EMI Calculator
Is calculation of EMI a hectic task? Use the business loan calculator to make it easy for you. With it you can calculate the installment amount in the fraction of seconds. Just enter the loan amount, tenure & interest rate, and calculator will tell you your EMI. It will also compute the total interest amount and loan maturity amount including interest and principal.
Let’s take an example for better understanding.
For Instance- If a borrower avails a loan of Rs. 2,00,00,000 for the period of 7 years at the interest rate of 16% p.a then the EMI will mount to Rs. 3,97,241.
Table Showing EMI, Total Interest Amount and Total Repayment Amount
|
Loan Amount
(In Rs.) |
Interest Rate
(p.a) |
Tenure
(In years) |
EMI
(In Rs.) |
Total Interest Amount
(In Rs.) |
Total Repayment Amount (Principal + Interest)
(In Rs.) |
|---|---|---|---|---|---|
| 2,00,00,000 | 16% | 1 | 18,14,617 | 17,75,406 | 2,17,75,406 |
| 2,00,00,000 | 16% | 2 | 9,79,262 | 35,02,293 | 2,35,02,293 |
| 2,00,00,000 | 16% | 3 | 7,03,141 | 53,13,064 | 2,53,13,064 |
| 2,00,00,000 | 16% | 4 | 5,66,806 | 72,06,670 | 2,72,06,670 |
| 2,00,00,000 | 16% | 5 | 4,86,361 | 91,81,669 | 2,91,81,669 |
| 2,00,00,000 | 16% | 6 | 4,33,837 | 1,12,36,250 | 3,12,36,250 |
| 2,00,00,000 | 16% | 7 | 3,97,241 | 1,33,68,267 | 3,33,68,267 |
Amortization Table
| Year |
Principal
(In Rs.) |
Interest
(In Rs.) |
Balance Amount
(In Rs.) |
|---|---|---|---|
| 1 | 16,87,061 | 30,79,831 | 1,83,12,939 |
| 2 | 19,77,691 | 27,89,201 | 1,63,35,248 |
| 3 | 23,18,390 | 24,48,502 | 1,40,16,858 |
| 4 | 27,17,781 | 20,49,111 | 1,12,99,077 |
| 5 | 31,85,975 | 15,80,917 | 81,13,102 |
| 6 | 37,34,825 | 10,32,067 | 43,78,277 |
| 7 | 43,83,505 | 3,88,666 | 0 |
Features & Benefits of Punjab & Sind Bank Business Loan
- Loans sanctioned up to Rs.5,00,00,000
- Quick approval and fast disbursal
- Loans available against security
- Benefit of customised service
Punjab & Sind Bank Business Loan Eligibility Criteria
The candidates belonging to following categories are eligible to apply for the business loan:
- Traders -Retailers and wholesalers
- Self Employed
- Small and Medium Business Enterprises
Punjab & Sind Bank Business Loan Application Form
You can fill your application form in-person by visiting the bank branch. The application form is mandatory to fill and necessary documents are to be attached. Incomplete forms are rejected by the bank. So make sure that all the fields are duly filled.
Documents Required:
- PAN Card
- Identity Proof
- Address Proof
- Bank statements for the last 6 months
- 2-year financials including Profit & Loss (P&L) statement, balance sheet and income tax returns
- Property Papers
Identity & Address Proof Documents
| ID Proof | Address Proof |
|---|---|
| Passport | Passport |
| PAN Card | Telephone Bill |
| Driving License | Electricity Bill |
| Voter ID | ID Card Issued by Post Office |
| Government ID Card | Registered Lease Deed or Sale Agreement |
| Senior Citizen ID Card | Any other ID proof or address proof document can be submitted subject to bank's satisfaction |
Security Accepted Against Business Loan
- Hypothecation of assets such as stocks, receivables, work in progress, plant & machinery
- Equitable / registered mortgage of land and building free from any encumbrances in the name of borrower/ partner/ directors
- Advance against third party property is permissible if the property is in the name of close blood relatives (major chilgren, spouse, father, mother, brother, sister of the borrower viz proprietor, partner, director) subject to the condition that guarantee of owner(s)/ co-owners of the property is mandatory
Punjab & Sind Bank Customer Care
For further product details contact the customer care number. The call is tariff free, that is, no cost will be deducted for the call you make on the toll free number :1800-419-8300.