Punjab And Sind Bank Business Loan Interest Rate at 9.05% to 9.45%

INTEREST RATE9.05% to 9.45%
LOAN TENUREMaximum 5 years
PROCESSING FEE1% of the loan amount with minimum of Rs. 2000
GUARANTOR REQUIREDPlease Contact Bank Branch
PRE PAYMENT CHARGESAs decided by the bank from time to time
Note: Updated on 10 Feb 2023, for latest interest rates, please visit bank website.

About Punjab And Sind Bank

Punjab And Sind Bank is a public sector bank in india established on 24-06-2008. It has headquarter in New Delhi and address is 21, Bank House, Rajendra Place, New Delhi-110008. it has 1573 branches across the state.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Punjab And Sind Bank Business Loan Interest Rates, Business Loan at 9.05% to 9.45% Updated on 02 Jun 2023. Apply for Business Loans Online. Find purpos, Eligibility, Margin, Repayment of Business Loan ,Security, Documents Required for Business Loan below.

Other Products of Punjab And Sind Bank:

Home LoanPersonal Loan
Education LoanBusiness Loan
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PPF Account 

Punjab And Sind Bank Business Loan Purpose

P& S Bank Multipurpose Business Loan (Mortgage) Scheme is designed to provide Overdraft/ Cash Credit / Term Loan / B.G. / L.C, etc. facilities to eligible customers.

Punjab And Sind Bank Business Loan Eligibility

Retail Traders / Wholesale Traders, Contractors, Professional, self employed and Small and Medium Business Enterprises (SSI/ SMEs) Manufacturing Concerns.

Punjab And Sind Bank Business Loan Document Required

  1. Completely Filled Business Loan Application Form
  2. PAN Card - For Individual / Partnership Firm / Company
  3. Identity Proof - Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
  4. Address Proof - Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
  5. Ownership proof of either residence or office either in the name of applicant or jointly with family members
  6. Business Continuity Proof - Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
  7. Proof of Vintage eg. Shops & Establishment certificate/VAT/Sales Tax Registration Certificate, etc
  8. KYC documents of Applicant/ Co-Applicant/ Promoters/ Guarantor
  9. Passport Size Photographs of all applicants and co-applicants
  10. Financial Projection for 2 years
  11. Last 3 year Financial Statement including latest 2 years Audited Statements along with all schedules
  12. Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
  13. Any other document as required by the bank based on the status of the applicant.

Punjab And Sind Bank Business Loan Amount

Minimum: Rs 5 lakh and Maximum: Rs 500 lakh

Punjab And Sind Bank Business Loan Margin


Punjab And Sind Bank Business Loan Repayment

Max. 5 Years

Punjab And Sind Bank Business Loan Security

  1. Hypothecation of assets (stocks, receivables, work in progress, plant & machinery etc) as applicable.
  2. Equitable/registered mortgage of land and building free from any encumbrances in the name of borrower/ partner / director.
  3. Advance against third party property can be allowed if the property is in the name of close blood relatives (Major children, 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 shall be mandatory.

Punjab And Sind Bank Business Loan Particular

Stock Statements
Stock statement / Book Debt statement to be furnished by the borrower at the time of sanction and thereafter once in a year.

How to Manage your Business Loan Properly?

  1. Follow a financially disciplined attitude. You also need to manage your income and expenses well.
  2. Switch to loan having Lower Rate of Interest. Always be watchful about what rate of interest other lenders are charging. If you find considerable difference in the interest charge, you must think of switching you existing loan to the lender who is offering the loan at lower interest rate.
  3. Pay Higher EMI in case you are able to do so with ease and currently having no monetary issue. It will lower down you Business Loan amount and also lower your interest outgo.
  4. Opt for Partial Pre-payment. Whenever you receive extra funds by any means, you must try to make partial pre-payment of loan. It will reduce your debt marginally.
  5. Do not Avail Unnecessary Loan. If you can manage some small expenses out of the funds in your hand then you must not opt for any kind of loan.
  6. Pay your EMIs on Time. Do not make any delay in payment of your loan EMI and never ever miss your EMI. Delay in payment may attract penalty or extra charges. Also it will impact your credit score negatively.
  7. Make higher down payment. In that case, you will need lower loan which you can manager efficiently by repaying it on time and with ease.
  8. Try to repay other small loans, if possible. It will reduce your debt burden and so as your interest cost.

Tax Benefits Available in Business Loan

Interest paid on a business loan is tax deductible expense which means interest paid is an expense for the business and is deducted from gross income. However, the principal amount is not tax deductible because repayment of principal means paying back the money borrowed, hence cannot be considered an expense.

As the tax is paid on the net income earned by a businessman in a financial year. So the interest can be subtracted from the gross income in order to compute the net income. After deducting the interest expenses from the gross income, net income is arrived at, on which the income tax is paid.

As after deduction of interest from the gross income of the business, the net taxable income, on which tax is to be paid, reduces and hence the businessman needs to pay less income tax.

Contact details of Punjab And Sind Bank, Punjab And Sind Bank SMS balance check number, Punjab And Sind Bank SMS banking, Punjab And Sind Bank mobile banking, Punjab And Sind Bank toll free number,Punjab And Sind Bank toll free number 24*7, Punjab And Sind Bank miss call number.

  • MISSED CALL NUMBERS - 7039035156
  • CUSTOMER CARE NUMBERS - 1800-419-8300
  • CONTACT NUMBERS - 1800-419-8300, 011-25752501

Punjab And Sind Bank Contact Details

  • BANK OFFICIAL WEBSITE - https://punjabandsindbank.co.in/
  • CONTACT NUMBERS - 1800-419-8300, 011-25752501
  • EMAIL ID - ho.brd@psb.co
  • MISSED CALL NO. - 7039035156
  • CUSTOMER CARE NO. - 1800-419-8300
  • HEADQUARTER - New Delhi
  • BANK ADDRESS - 21, Bank House, Rajendra Place, New Delhi-110008
Punjab And Sind Bank EMI Calculator  Punjab And Sind Bank Branches  
Punjab And Sind Bank Business Loan FAQs  Business Loan Document Required

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