Looking for an MSME Loans for Passenger Vehicle Transport Operators from Punjab National Bank?

Get key information you need on Punjab National Bank’s Transport Loan Scheme below.

Punjab National Bank PNB Transport Loan

This loan helps Small Road Transport Operators in the Micro, Small and Medium Enterprises sector to buy passenger vehicles such as taxi cars, three-wheelers, e-rickshaws, cargo vehicles, etc. This loan can be availed on the purchase of brand new and old vehicles or construction of body including fare-meter.

Features of PNB Transport Loan

Why this Loan?

  • The PNB Transport Loan is meant for Passenger Vehicle Transport Operators in the MSME sector to acquire funds for purchasing new and pre-owned passenger vehicles for business use
  • Collateral-free loans of up to Rs. 10 lakh can be availed under this loan scheme subject to coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) guarantee

Loan Amount

  • The maximum loan amount offered by PNB for this loan is Rs. 5 crore

Interest Rate

  • Currently, the interest rate for this Punjab National Bank Loan is not mentioned on the bank’s website. Please call the bank’s customer care number to get more details

Repayment

  • The repayment period for this loan is 4 to 6 years for new vehicles and 2 to 3 years for old vehicles

Security Needed

  • Loans up to Rs. 10 lakh: The bank does not asks for collateral security if guarantee under CGTMSE coverage is provided
  • Loans above Rs. 10 lakh: The bank asks for hypothecation of vehicles purchased under the loan. The bank may ask for equitable mortgage of property as collateral security for this loan

Borrower Contribution to Total Cost (Margin Money)

  • The bank charges up to 10% margin on the purchase of new vehicles and 25% margin on the purchase of old vehicles

Processing Charges

  • The borrower has to pay 1.25% of the total loan amount as processing charges for this loan

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
  • A4 size copies of the aforementioned documents

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
  • All A4 size copies of the aforementioned documents

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
  • All A4 size copies of the aforementioned documents

Reference Facts

  • Punjab National Bank Website: www.pnbindia.in and www.netpnb.com (net banking)
  • Headquarters: Dwarka, New Delhi
  • Call Centre Toll-Free Number: 1800 180 2222, 1800 103 2222