MSME Loans from Punjab & Sind Bank
Being one of the oldest and largest public sector banks in India, Punjab & Sind Bank offers a wide range of financial products such as business loans, education loans, deposit schemes, etc. to its customers. Punjab & Sind Bank has twelve different loan schemes listed on its website for its MSME customers.
The MSME loans offered by Punjab & Sind Bank are:
- PSB Multipurpose Mortgage Loan (MSME)
- PSB Mortgage Loan for MSMEs
- SME Liquid Plus
- Udyogini Scheme for Women Entrepreneurs
- PSB Scheme for Eating Joints
- PSB Laghu Udyami Credit Card Scheme
- PSB Doctor’s Special Loan
- PSB Scheme for Working Capital Requirement for Retail Traders
- PSB Finance to Brick Kiln Owners
- PSB Scheme for Restaurants and Dhabas
- PSB Scheme for Technology Upgrade or Establishment/Modernisation of Food Processing Industries
- Mudra Loan
We give you a brief introduction to each of these Punjab & Sind Bank MSME loans below. In addition you have the option to click further and read in detail about each loan on a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. In case information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
Punjab & Sind Bank Multipurpose Mortgage Loan
This loan helps businesses in the MSME sector meet their needs by availing a loan against property. The maximum loan amount sanctioned by the bank for this loan is Rs. 50 lakh.
Features of PSB Multipurpose Mortgage Loan
Why this Loan?
- The Punjab & Sind Bank Multi-purpose Mortgage Loan is meant for small business owners who want to avail a loan against immovable property for meeting their business or personal needs
- The loan can be availed as Overdraft facility (OD) or Term Loan
Punjab & Sind Bank MSME Mortgage Loan
This loan helps small businesses meet their needs by availing a loan against property. The immovable property must be located in metro, urban or semi-urban centres. Property located in rural centres is eligible for purposes other than agricultural use.
Features of PSB Mortgage Loan
Why this Loan?
- The loan is meant for small business owners who want to avail a loan against immovable property for meeting business or personal needs
- The maximum loan amount for the Punjab & Sind Bank Mortgage Loan is Rs. 5 crore. The loan can be availed as an Overdraft (OD) facility, Cash Credit, Term Loan, etc.
Punjab & Sind Bank SME Liquid Plus
This loan helps businesses in the Small and Micro Enterprises (SME) sector meet their capital expenditure and working capital requirements. Proprietorships, partnerships and limited companies that fit the SME definition are eligible for this loan.
Features of PSB SME Liquid Plus
Why this Loan?
- This Punjab & Sind Bank Star SME Liquid Plus is meant for all types of businesses in the MSME sector who need financial assistance to meet their needs for purchasing equipment, machinery, research and development activities, etc.
- The maximum loan amount sanctioned under this loan is Rs. 5 crore
Punjab & Sind Bank Udyogini Scheme for Women Entrepreneurs
This loan helps women running Micro and Small Enterprises fulfil their working capital and capital expenditure needs. This loan scheme is one of the bank’s initiatives to empower and encourage women to engage in income-generating activities.
Features of PSB Udyogini Scheme for Women Entrepreneurs
Why this Loan?
- The Punjab & Sind Bank Udyogini Scheme for Women Entrepreneurs is meant for small businesses in the MSE sector run by women to finance their capital requirements
- All MSE businesses in the manufacturing, service and trading sectors where the management is controlled by women and partnerships where a majority of partners are women are eligible for this loan
Punjab & Sind Bank PSB Scheme for Eating Joints
This loan helps small businesses in the MSME sector meet their working capital needs. The maximum loan amount sanctioned under this loan is Rs. 5 lakh for individual borrowers and Rs. 10 lakh for partnerships or companies.
Features of PSB Scheme for Eating Joints
Why this Loan?
- The PSB Scheme for Eating Joints is meant for eating joints such as bakeries, restaurants, institutional canteens, ice cream parlours, etc. get financial assistance to meet their Working Capital needs
- This is a secured loan
Punjab & Sind Bank Laghu Udyami Credit Card Scheme
This loan helps businesses in the Micro Enterprises sector meet their capital expenditure and working capital requirements. The business must have been active for the past 3 years to be eligible for this loan. The maximum amount sanctioned under this scheme is Rs. 10 lakh.
Features of PSB Laghu Udyami Credit Card Scheme
Why this Loan?
- This Punjab & Sind Bank Laghu Udyami Credit Card Scheme is meant for all types of businesses in the MSME sector who need financial assistance to meet their working capital and capital expenditure needs
- Small business units, retail traders, artisans, villages industries, small scale industrial units, professionals, etc. are eligible for this loan
Punjab & Sind Bank PSB Doctor’s Special Loan
This loan helps medical practitioners meet their capital expenditures for activities right from setting up a clinic, nursing home, hospital and pathology labs to purchase of equipment and ambulance. The maximum loan amount sanctioned under this loan scheme is Rs. 1 crore.
Features of PSB Doctor’s Special Loan
Why this Loan?
- The Punjab & Sind Bank PSB Doctor’s Special Loan is meant for medical practitioners who need financial assistance in fulfilling their capital or working capital needs
- Qualified Medical practitioners from different branches of medicine such as Allopathy, Homeopathy, Unani, Ayurveda, etc. are eligible for this loan if they have experience in running the business. Individuals, Proprietors, LLPs, Trusts and Companies can also avail this loan
Punjab & Sind Bank PSB Scheme for Working Capital Requirement for Retail Traders
This loan helps retail traders in the MSME sector meet their working capital needs. The maximum loan amount sanctioned under this loan is Rs. 30 lakh.
Features of PSB Scheme for Working Capital Requirement for Retail Traders
Why this Loan?
- The PSB Scheme for Working Capital Requirement for Retail Traders is meant for retail traders in the MSME sector to meet their working capital needs
- The bank is offering high quantum of loan in the working capital loans category to traders as compared to other Indian banks and financial institutions in the market
Punjab & Sind Bank Finance to Brick Kiln Owners
This loan helps brick kiln owners to get funds to meet their working capital and capital expenditure needs. Punjab & Sind Bank offers this loan scheme to individual, partnerships, LLPs and companies. The maximum loan amount is Rs. 50 lakh for this loan.
Features of Punjab & Sind Bank Finance to Brick Kiln Owners
Why this Loan?
- The Punjab & Sind Bank Finance to Brick Kiln Owners is meant for brick kiln owners to meet their working capital and capital expenditure needs
- Borrowers can avail the Credit Linked Capital Subsidy Scheme (CLCSS) to reduce the burden of availing this MSME loan
- This is a secured loan
Punjab & Sind Bank Scheme for Restaurants and Dhabas
This loan helps owners of restaurants, fast food joints and dhabas to get funds to meet their working capital and capital expenditure needs. The maximum loan amount is Rs. 1 crore for this loan. This is a secured loan.
Features of Punjab & Sind Bank Scheme for Restaurants and Dhabas
Why this Loan?
- The Punjab & Sind Bank Scheme for Restaurants and Dhabas is meant for restaurant, fast-food joint and dhaba owners to meet their working capital and capital expenditure needs
- The bank offers this funded facility as a term loan or overdraft
- This loan can be availed to meet day-to-day business needs, purchase of kitchen equipment / furniture, interior decoration and so on
Punjab & Sind Bank PSB Scheme for Technology Upgrade or Establishment/Modernisation of Food Processing Industries
This loan helps owners of food processing units in the MSME sector to get funds to upgrade the plant or machinery. The maximum loan amount sanctioned under this loan is Rs. 50 lakh.
Features of PSB Scheme for Technology Upgrade or Establishment/Modernisation of Food Processing Industries
Why this Loan?
- The PSB Scheme for Technology Upgrade or Establishment/Modernisation of Food Processing Industries is meant for foot-processing unit owners to get funds to modernise the unit, upgrade equipment, etc.
- This loan is meant for small businesses dealing with fruits, vegetables, milk products, poultry, fish, cereal, rice milling, flour milling, spices, etc. Aerated water, packaged drinking water and soft drink units are not eligible for this loan
Punjab & Sind Bank Mudra Loan Scheme
This loan helps unfunded individuals, proprietors and partnerships running small manufacturing units, fruit and vegetable shops, food service units, repair shops, small industries, machine operators, truck operators, etc. get funds for their needs. The maximum loan amount is Rs. 10 lakh.
Features of Punjab & Sind Bank Pradhan Mantri Mudra Yojana (PMMY)
Why this Loan?
- The loan is meant for Non-corporate Small Business Segment get funds to meet their Working Capital needs
- The Punjab & Sind Bank Mudra Loan is divided into three variants depending on the type and size of business, namely Shishu, Kishore and Tarun. The quantum of loan depends on the loan variant applicable to the business
Important Note: Even though the bank’s website has information available for few loan schemes at this time, there is a possibility that the bank may offer more loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, strategic premium, etc. may be decided on a case-to-case basis.
Interest Rate for Punjab & Sind Bank MSME Loans
- The interest rate for Punjab & Sind Bank MSME Loans is defined as the sum of two factors, namely: Marginal Cost of Funds-based Lending Rate (MCLR) and Strategic Premium where the Strategic Premium depends on various factors including the type of business, tenure of loan, etc.
Note: Please get in touch with the bank representatives to know the interest rate applicable to any particular loan scheme.
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- Punjab & Sind Bank Website: www.psbindia.com
- Headquarters: New Delhi
- Call Centre Toll-Free Number: 1800 419 8300