Punjab and Sind Bank Business Loan Key Features
| Punjab and Sind Bank Interest Rate | 10.55% |
| Tenure | up to 36 months |
| Lowest EMI per lakh | ₹ 3,423 |
| Loan Amount | 1 Lakh to 5 crores |
| Part Prepayment, Charges | Allowed after 1 EMI’s, |
| Early Foreclosure, Charges | Allowed after 1 EMI’s |
| Punjab and Sind Bank Processing Charges | Up to 2.50% of the loan amount (Min. Rs. 2,359 – Max. Rs. 88,500) |
| Prepayment Charges | 07-24 Months – 4% of Principal Outstanding Amount
25-36 Months – 3% of Principal Outstanding Amount More than 36 Months – 2% of Principal Outstanding Amount |
| Repayment Period | 12 – 48 months |
| Prepayment Condition | No pre-payment permitted until repayment of 6 EMIs |
| Collateral | Not required |
Interest Rate, Fees, and Charges (Self Employed Non-Professional)
| Facility | Charges |
| Interest Rate Charges | 10.55% |
| Loan Processing Charges | Up to 2.50% + GST as applicable |
| Prepayment | No pre-payment permitted until repayment of 6 EMIs |
| No Due Certificate / No Objection Certificate (NOC) | NIL |
| Duplicate no due certificate / NOC | NIL |
| Solvency Certificate | Not applicable |
| Charges for late payment of EMI | @ 24% p.a. |
| Charges for changing from fixed to floating rate of interest | Not applicable |
| Charges for changing from floating to a fixed rate of interest | Not applicable |
| Stamp Duty & other statutory charges | As per applicable laws of the state |
| Credit assessment charges | Not applicable |
| Nonstandard repayment charges | Not applicable |
| Cheque swapping charges | ₹ 500/- |
| Amortization Schedule charges | ₹ 200/- |
| Loan cancellation charges | NIL (However Interest would be charged for the interim period between the date of loan disbursement and date of loan cancellation and processing fees would be retained) |
| Cheque Bounce Charges | ₹ 550/- per cheque bounce |
| Legal / incidental charges | At actual |
| CIBIL Report Copy Charges | ₹ 50 Per Copy |
Interest Rate, Fees, and Charges (Self Employed Professional)
TABLE WILL APPEAR
Advantages of Punjab and Sind Bank Business Loan
Punjab and Sind Bank will provide their customers with updated products as per the specifications of their specific customer fragments. Besides, the Bank of Punjab and Sind Bank suggest,
- There is no barrier to saving money on the way the candidate’s company works.
There are unlimited free ATMs at Tamilnad Mercantile Bank and other VISA ATMs in India.- No commission for NEFT / RTGS transmissions and calls for proposals.
- Refill reserves cheaply and quickly after confirmation of the loan.
- Redemption account: Another impulse is a consistent repayment in favour of the board of directors.
- The staff helped open an expanded listing with Instant Welcome Packs (IWP).
- Fair loan payments for applicants with successful banking relationships.
- Special conditions for private and home construction loans.
Punjab and Sind Bank Business Loan Eligibility Criteria
| Eligibility Criteria | Description |
|---|---|
| Age | 21 to 60 years |
| Minimum Turnover | ₹ 0 |
| Business Existence (in months) | 0 months |
| ITR (months) | 6 months |
| Loan Amount | ₹ 1 Lakh to ₹ 8 Lakh |
| Loan Tenure | 36 months |
| Owned House or Place of Work | Not Required |
| CIBIL Score | 750 and above |
Punjab and Sind Bank Business Loan Documents Required
Common Documents:
- Valid Proof for Identity: Passport / Ration card / Electricity Bill / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card/ Lease agreement / Sales Tax certificate/Trade licence
- Address Proof: Lease agreement / Passport / Trade license / Electricity Bill / Sales Tax Certificate
- Age Proof: Passport / PAN card / Voter’s identity card
- Financial Documents: Copy of IT returns for the last two years and the latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
- Copy of Bank Statement
- Latest ITR and statement of computation of Income for the last 2 yrs.
- Proof of continuity of business
- Other Mandatory Documents that are Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
- Original Board resolution
- Financials audited/ certified by a CA.
* (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower
Self Employed (Private Ltd. Co. and Partnership Firms)
- Identity proof of the company: PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum
- Proof of identity: To be submitted with two authorized signatories such as 2 Directors including the managing director, with (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license
- Financial Documents: Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A
Self Employed Individuals – Professionals
- Identity Proof for Sole Proprietorship: PAN ID / IT return of the concern or Municipal tax, Water bill, and electricity bill in the name of the concern.
- Identity proof for the Sole Proprietor: Passport, Voter’s identity card, Driving license, PAN card.
- Address Proof for the Sole Proprietor: Driving license, Voter’s identity card, Ration card, Passport
- Financial Documents: Copies of IT returns for the last two years and Bank statements for the last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A
Self Employed Individuals – Non Professionals:
- Identity proof: Documents to be submitted for the sole proprietorship as well as for the individual’s (owner) identity.
- Copy of periodic stock, age-wise book-debt and creditors-statement for latest three months
- Copy of bank statement of main banker/copy of bank statement for the term loan for last months
- Financial Documents: Profit and Loss balance sheet for the last two years audited by a C.A, Sales tax returns for a minimum of 3 years, and the Copies of IT returns for the last three years.
EMI Calculator for Punjab and Sind Bank Business Loan
The following is the EMI calculated table for Punjab and Sind Bank Business loan:
| Loan Amount | 10 Year Loan | 15 Year Loan | 25 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 24,958 | ₹ 19,871 | ₹ 16,307 |
| ₹ 30 Lakh | ₹ 37,437 | ₹ 29,807 | ₹ 24,461 |
| ₹ 50 Lakh | ₹ 62,395 | ₹ 49,678 | ₹ 40,768 |
Calculate EMIs with the help of Dialabank’s fast and accurate EMI Calculator!
Compare Punjab and Sind Bank Business Loan With Other Banks
| Bank |
HDFC Bank
|
Punjab and Sind Bank
|
|---|---|---|
| Interest Rate | 15.65% – 21.35% | 10.55% |
| Processing Fees | Starting from 0.99%, Max 2.50% | Starting from 1%, Max 2.50% |
| Loan Amount | ₹ 50,000 to ₹ 50 Lakh | ₹ 1 lakh to ₹ 8 Lakh |
| Loan Tenure | 12 to 48 Months | up to to 36 Months |
| Lowest EMI Per Lakh | ₹ 2,816 per lakh | ₹ 3,423 per lakh |
| Part Payment Charges | Not Allowed | Not Allowed |
| Foreclosure Charges | Allowed after 12 months at 2 – 4% | Allowed after 1 EMI’s |
| Borrower’s Age | 21 to 65 Years | 25 to 65 Years |
| Minimum Years in Business Required | 36 Months | 36 Months |
| Minimum Turnover Required | ₹ 1 Cr | ₹ 60 Lakh |
More Banks to compare with Punjab and Sind Bank Business Loan:
| Barclays Bank | Canara Bank | Private Bank | ING Vysya Bank |
| HSBC | Citibank | Kotak Mahindra Bank | |
Video: How to apply for Punjab and Sind Bank Business Loan
VIDEO WILL APPEAR!
Purpose of Business Loans from Punjab and Sind Bank
Punjab and Sind Bank business loans can cover benefits and help:
- Maintain good income to make instalment payments to providers.
- Moments of liquidity to cover the day-to-day needs of the business.
- The advance will be used to cover all costs associated with expanding the business.
- Covers the cost of purchasing new or redesigned machinery or equipment.
- The new inventories cover the possibility of contracting.
EMIs of Several Banks and NBFCs for Different Tenures
The following table shows the approximate values of EMI’s offered by banks and NBFC’s other than Punjab and Sind Bank
| Total Loan Amount | Loan Tenure | ||
|---|---|---|---|
| Loan Amount (Rs.) | 10 years | 15 years | 25 years |
| 2,500,000 | ₹ 31,197 | ₹ 24,839 | 20,384 |
| 5,000,000 | ₹ 62,395 | ₹ 49,678 | 40,768 |
| 7,500,000 | ₹ 93,592 | ₹ 74,516 | 61,152 |
| 10,000,000 | ₹ 1.25 Lakh | ₹ 99,355 | 81,536 |
Other Loan Products from Punjab and Sind Bank
| Personal Loan | Gold Loan |
Why should you apply for Punjab and Sind Bank Business Loan at Dialabank?
Dialabank is India’s first web-based banking service provider. It acts as a scapegoat between you and your preferred banking decisions by limiting complex administrative tasks and application procedures. The Dialabank Principal S Card effectively transfers all guaranteed terms to each customer in a short period, offering the best offer according to your requirements.
The customer has approved Dialbank and other recognized agencies, which is why it is at the top of its rival leaderboards.
Know extra about Dialabank by visiting us online or by calling on this number 9878981166.
How to calculate EMI for Punjab and Sind Bank Business Loan?
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 3,00,000 | 10.55% | 1 | ₹ 26,555 | ₹ 18,661 | ₹ 3,18,661 |
| ₹ 3,00,000 | 10.55% | 2 | ₹ 14,023 | ₹ 36,547 | ₹ 3,36,547 |
| ₹ 3,00,000 | 10.55% | 3 | ₹ 9863 | ₹ 55,063 | ₹ 3,55,063 |
| ₹ 3,00,000 | 10.55% | 4 | ₹ 7796 | ₹ 74,207 | ₹ 3,74,207 |
| ₹ 3,00,000 | 10.55% | 5 | ₹ 6566 | ₹ 93,972 | ₹ 3,93,972 |
You can also calculate the specific loan amount EMIs on Dialabank’s EMI Calculator.
Benefits of Punjab and Sind Bank Business Loan
Punjab and Sind Bank provides business advances to self-employed workers and financial managers to finance the growth or capital needs of their business. There are various advantages of Punjab and Sind Bank:
- Dropline overdraft advance to save interest.
- Loan amount high up to Rs. 75 Lakh.
- No collateral or underwriter is required.
- The balance moves in an alternating open manner.
- Responsive residence and simple cycle.
- Prompt approvals and payments.
- Low and flexible loan rates.
- Simple and minimal administrative work is required.
Punjab and Sind Bank Business Loan Processing Time
For appeals of loans to Commercial Banking customers, the Bank may take 30 working days to make a choice, when the client submits all the data requested by the Bank.
Punjab and Sind Bank Business Loan Preclosure
Punjab and Sind Bank’s Business Loan Preclosure charges alternate between 2% to 2.5% of the paid limit.
Pre Calculated EMI Table for Punjab and Sind Bank Business Loan
The Loan EMI in Punjab and Sind Bank depends upon the profession (businessmen, self-employed, salaried), mortgage amount, loan tenure, and interest percentage.
| Loan Amount | 5 Year Loan | 7 Year Loan | 15 Year Loan |
|---|---|---|---|
| ₹ 20 Lakh | ₹ 42,298 | ₹ 32,996 | ₹ 21,248 |
| ₹ 30 Lakh | ₹ 63,446 | ₹ 49,494 | ₹ 31,872 |
| ₹ 50 Lakh | ₹ 1,05,744 | ₹ 82,490 | ₹ 53,120 |
How to Apply for Punjab and Sind Bank Business Loan Online?
- Visit Dialabank.
- Go to the loan segment and click on the Business Loan link.
- Check the eligibility criteria for the Business loan offered by Punjab and Sind Bank and fill a user-friendly online application form for Business Loan.
- One of our relationship supervisors will get in touch with you soon for further process.
- For further information and free guidance, you may call on +919878981166.
Punjab and Sind Bank Business Loan Status
You can find the loan status by Calling at +919878981166 or by visiting the main site of Punjab and Sind Bank.
Dialabank Punjab and Sind Bank Business Loan Customer Care Number
To find the solution to your queries regarding a business loan, give a call at +919878981166
Dialabank serves you in finding the best settlement of Banks and NBFCs by providing you with a comprehensive market in comparison of different banks so that you can make the right decision.
Punjab and Sind Bank Business Loan FAQs
✅ Is a guarantor required for Punjab and Sind Bank Business Loan?
No form of security is asked while applying for Punjab and Sind Bank’s Business Loan.
✅ How do I repay my business loan?
EMIs should return it via standing guidance and post-dated cheque.
✅ What are the minimum and maximum range of tenure of business loans in Punjab and Sind Bank?
These loans are more concise tenure loans. You can return your loan in a manageable time of a minimum of 12 months to a maximum of 36 months.
✅ How much business loan amount I can borrow from Punjab and Sind Bank?
Punjab and Sind Bank Bank gives you a loan if you need the least amount of ₹ 1 lakh to the highest amount of ₹ 5 crores.
