Punjab and Sind Bank focuses on providing flexible business loans to its customers. Punjab and Sind bank offers Business loan under MSME category with the scheme named as PSB Vyapar.
Below are the interest rates offered and other related fees and charges of the loan scheme:
Punjab and Sind Bank – MSME Loan (PSB Vyapar) – August 2022
|Punjab and Sind Bank – MSME Loan (PSB Vyapar) – 2022|
|Interest Rate – Overdraft facilities||10.45% p.a. onwards|
|Interest Rate – Term Loan||11.20% p.a. onwards|
|Interest Rate – Working capital Loan||10.70% p.a. onwards|
|Min. Loan Amount||Rs. 5 lakh|
|Max. Loan Amount||Rs. 5 crore|
|Processing Fee||1% of the sanctioned loan amount with max. Rs. 2000|
0.50% for Overdraft facilities
|Repayment Tenure||Term Loan – 10 years|
Working Capital Loan – 5 years
Overdraft – Repayable on demand
|Concession||Max. up to 1.25%|
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
PSB Vyapar Loan can be availed by the following entities:
- Retail and Wholesale Traders
- Start-up Enterprises
- Self-employed professional
- MSMEs / Manufacturing entities
Purpose: PSB Vyapar loan can be used to meet working capital requirements and business related concerns. This loan can also be used for the construction of shop in the pre-owned land or for purchase of readily available commercial space.
Apply for Business Loan @ 16% p.a. onwards Apply Now
Anyone from the following categories is eligible to apply for a business loan at Punjab and Sind bank
- All kinds of traders, including retailers and wholesale dealers are eligible to apply for Punjab and Sind bank loans
- All kinds of self-employed individuals can apply for MSME loans at Punjab and Sind bank
- Owners of small and medium-sized business enterprises are eligible for business loan from Punjab and Sind Bank
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs
|HDFC Bank||10.00% – 22.50% p.a.||Apply Now|
|FlexiLoans||1% per month onwards||Apply Now|
|ZipLoan||1% – 1.5% per month (Flat ROI)|
|Axis Bank||14.25% – 18.50% p.a.||Apply Now|
|IDFC First Bank||14.50% onwards|
|Kotak Mahindra Bank||16% – 19.99%||Apply Now|
|Fullerton Finance||17% – 21%|
|Bajaj Finserv||17% p.a. onwards||Apply Now|
|RBL Bank||17.50% – 25% p.a.||Apply Now|
|ICICI Bank||17% onwards|
|Indifi Finance||1.5% per month onwards||Apply Now|
|Lendingkart Finance||1.5% – 2% per month||Apply Now|
|Tata Capital Finance||19% p.a. onwards||Apply Now|
|NeoGrowth Finance||19% – 24% p.a.||Apply Now|
|Hero FinCorp||Up to 26% p.a.||Apply Now|
Note: Business loan interest rates are updated as on August 2022.
Any applicant who wishes to avail business loan from Punjab and Sind Bank will need to submit the following documents:
- Identity Proof: You will need to submit at least one personal ID proof such as a copy of your passport, PAN card, driving license, voter ID card or a senior citizen card.
- Address Proof: Applicants also need to submit copies of either the passport, driving license, voter ID card or their utility bills as a proof of their permanent address.
- Business Proof: Applicants applying for a business loan at Punjab and Sind Bank also need to submit bank statements from at least 6 months, 2-year financial reports that also include Profit & Loss (P&L) statements, balance sheets and their income tax returns.
Punjab and Sind Bank Toll-Free Number: 1800-419-8300
Please Note: Punjab and Sind bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Q. What is the maximum loan amount that can be availed from PSB Vyapar Scheme?
Ans. The maximum loan amount that can be availed is up to Rs. 5 crore.
Q. What is the maximum repayment period of PSB Vyapar loan scheme?
Ans. The maximum repayment period is up to 10 years.
Q. How do I know my EMI?
Ans. You can use the EMI calculator on the Punjab and Sind Bank website to calculate the EMI and organize your business plan better.
Q. How can I check my loan status?
Ans. You can check your Punjab and Sind Bank business loan status simply by calling up customer care or logging in the Punjab and Sind website.
Q. How can I repay my loan?
Ans. You can repay your loan either through monthly installments, post-dated cheques or through the electronic clearing system.