Individuals with a source of income either having minimal or no documented income or income proof but have digital footprints of banking and other economic activities.
Eligible customers in metro/urban areas includes:
Small traders, shopkeepers, Skilled and Semi-Skilled workers/ artisans in unorganized sector;
Members of SHGs, beneficiaries of PM SVANidhi, PM Vishwakarma, Mudra, Stand Up India;
All beneficiary groups under PMAY-U 2.0.
2.
Annual income
Total annual income of applicant(s) (maximum 4) should not exceed Rs. 9.00 lakhs.
(Income of up to 4 members of the household can be combined to meet this limit.)
3.
Age of Entry
Minimum Age — 21 years Maximum Age — 60 years
4.
Purpose
To purchase / construct a new house / flat, to purchase an existing house / flat or extend an existing house, Repair / Renovate an existing house / flat.
5.
Eligible Property/ Security
Equitable or Registered Mortgage of residential property financed.
(If underlying security is non-mortgageable, alternate SARFAESI compliant security may be accepted only in case of self-constructions.)
6.
Maximum No. of co-Borrowers
Applicant with spouse and earning children (Maximum-4). Income of all co-borrowers shall be added to arrive at EMI/NMI ratio/assessment of loan amount.
7.
Maximum Loan amount
Loan amount will be the lowest of the following:
Permissible loan amount as per EMI / NMI ratio;
Permissible loan amount as per LTV ratio;
Loan amount applied;
Maximum permissible loan amount under the scheme
For Home Loan:
Metro Centres: Rs. 35.00 Lakhs, subject to Max Project Cost of Rs. 45.00 Lakhs
Other Centres: Rs. 25.00 Lakhs, subject to Max Project Cost of Rs. 30.00 Lakhs
For Repair and Renovation:
Metro Centres: Rs. 10.00 Lakhs
Other Centres: Rs. 6.00 Lakhs maximum Loan limit as per PSL criteria.
8.
Credit Guarantee
Credit Guarantee Cover will be available for:
70% of the Loan amount in default for HLs not exceeding Rs. 20.00 lakhs Home Loans granted to borrowers under EWS (annual household income up to Rs. 3.00 lakhs) and LIG category (annual household income up to Rs. 6.00 lakhs)
Property in Urban area as defined under PMAY-U scheme.
Houses with Carpet Area up to 60 sq mtr only.
Purchase/ Construction for first house only and not for the house in different city or for subsequent houses.
9.
Credit Guarantee fee
Credit Guarantee fee will be fixed initially 1% of the total housing loan amount and subsequently as specified by the Trust. The credit guarantee fee will be paid by Bank and not to be received from borrower.
10.
Repayment Period
Maximum: 25 years (300 months)*
* Subject to full repayment before the youngest earning borrower attains the age of 70 years.
11.
Moratorium
The moratorium period of up to 12 months in all eligible cases of Self Construction of house.
The moratorium period of up to 36 months after first disbursement of loan or completion of society / Builder’s flats whichever is earlier is allowed in deserving cases. However, moratorium period not to exceed 6 months after the date of last disbursement in any case.
Purchase of ready to move house/ Flat: No moratorium.
Interest to be serviced during the moratorium period.
12.
Processing Fee (Upfront)
Processing fee: NIL.
Legal and Valuation fee (Out of Pocket Expenses) are to be recovered on actual basis, to be capped at Rs. 5,000.00 Plus GST.
The link will open only through bank's intranet and it will not open through internet
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“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”
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://punjabandsind.bank.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://punjabandsind.bank.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.
