Looking for an MSME Loan from Punjab National Bank for professionals?
You have landed at the right place. This page contains all the information you will need on Punjab National Bank’s MSME Loans for professionals.
Punjab National Bank PNB Professional Scheme
This loan helps Architects, Engineers, Lawyers, CA, CS, etc. purchase of office, equipment, construction of office, expansion of unit, etc. Term loans are need-based and the maximum loan amount depends on the needs as well as the repayment capacity of the borrower. Working Capital loans in the form of Cash Credit/Overdraft are available for up to Rs. 25 lakh.
Features of Punjab National Bank PNB Professional Scheme
Why this Loan?
- The PNB Professional Loan Scheme is meant for CA, CS, architects, lawyers, engineers, etc. to help them purchase office area, construct an office unit, purchase or upgrade equipment and so on
- Need-based term loans and working capital loans are available under this scheme to eligible borrowers
Loan Amount
- Term Loan: This is a need-based loan
- Working Capital Loan: The maximum loan amount is Rs. 25 lakh
Interest
- The interest rate applicable to this loan is not mentioned on the bank’s website. We suggest checking with a bank representative for details
Repayment
- Term Loan: These loans need to be repaid in up to 7 years including a moratorium period of 6 to 18 months
- Working Capital Loan: This loan is repayable within 12 months and can be renewed on an annual basis
Security Needed
- The Prime Security for this loan are assets created out of the loan amount. Personal guarantee of partners, promoters or directors is also required
- Collateral Security for Loans up to Rs. 10 lakh: CGTMSE coverage is required
- Collateral Security for Loans not Covered under CGTMSE: Collateral by way of land and building equivalent to at least 100% of loan amount
Eligibility
- The borrower should be professionally qualified under: Engineering & Technical Education, Business Management, Media & Journalism, Law, Foreign Language, Computer, Animation, Designing, Fine Arts, CA, ICWA, CS, etc.
- The loan can be availed for the purchase or construction of office, purchase or upgrade of equipment, expansion of unit, etc.
Borrower Contribution to Total Cost (Margin Money)
- Loans up to Rs. 2 lakh: No margin is charged on loans up to Rs. 2 lakh
- Loans Above Rs. 2 lakh: Punjab National Bank takes a 25% margin for these loans
Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest.
Processing Charges
- This information is not available on the bank’s website. Get in touch with a bank representative to know more
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 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