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MSME loans are a certain type of financial assistance for those who are looking for business improvement. MSME loans are for micro, small, and medium enterprises where the business people can get adequate financial support. RBI defines MSME as unsecured loans and Punjab and Sind Bank has been one of the leading banks offering MSME loans.
Here is the list of schemes provided by Punjab and Sind Bank MSME Loan.
This scheme targets by giving technology up-gradation by using the upfront capital subsidy to the MSME. This enterprise includes Khadi, Coir and village units and they can use this scheme for the modernization of the plant and machinery and other techniques. The features of this scheme are
Loan Amount: The maximum term loan amount allowed is Rs 100 lakhs
Capital Subsidy: 15 % of the eligible investments will be given as capital subsidy in Plant and Machinery or Rs 15 lakhs, whichever is lower.
The scheme covers the below-mentioned products, technology needs, and sub-sectors which are eligible for claiming capital subsidy
Under this scheme, the business can get up to 25% of the cost of plant and machinery as financial assistance. The maximum amount given can go up to Rs 50 lakhs, only if the plant and machinery are new. The features of this scheme are
Coverage: The scheme covers food processing sectors such as Vegetables, fruits, milk products, rice milling, flour milling, meat, poultry, fishery, oilseeds products, pulse processing and other horticulture sectors such as spices, mushrooms, coconuts, etc. The scheme will not provide financial assistance for the business of aerated water, soft drinks, and packaged drinking water.
Loan Disbursement: Under this scheme financial assistance will be given out as two equal instalments. Once the business uses 50% of the term loan and 50% of the margin, the first instalment will be released and upon submitting utilization certificate by the unit, the second instalment will be released.
This scheme aims at retail/wholesale traders, self-employed, professionals, contractors, and other small and business enterprises. The features of this scheme are
Loan: Under this scheme, the loan amount can be given as term loan, cash credit, overdraft, bank guarantee, letter of credit, etc.
Loan Amount: The minimum loan amount is Rs 1 lakh and the maximum is Rs 200 lakhs.
Margin: The promoter’s contribution would be 65 % of the value of immovable property for new and fresh enterprises. In the case of old cases, the percentage can go up to a maximum of 75 %.
Security: As security, the business will have to give
Stock Statements: The borrower should submit the book debt statement/ stock statement at the time of sanctioning the loan and should continue to submit the same once in a year.
This scheme is for doctors having a minimum qualification in MBBS/ BDS. The objective of this scheme is to help financial assistance in setting up, renovating, expanding clinics, building nursing homes, and purchase of ambulances, computers, and vehicles. The features of this scheme are
Loan: The loan under this scheme can be allowed as a term loan, overdraft, and cash credit.
Loan Amount: The maximum loan amount allowed is Rs 1 crore. However, for a loan as overdraft or cash credit, the hypothecation limit is set to Rs 10 lakhs.
Margin: The promoter’s contribution is 15 %
Security: As security, the doctors or hospitals should give hypothecation of movable assets and in case of immovable assets, legal mortgage or equitable in the name of children or spouse or self.
Collateral Securities: For loan amount up to Rs 25 lakhs, no collateral security is required, provided the coverage is under CGTMSE. Any amount above 25 lakhs up to Rs 1 crore, the collateral security will be decided by the bank according to their policy.
Guarantee: If covered under CGTMSE and if the amount is up to Rs 25 lakhs, then no guarantee is required. For amount above Rs 25 lakhs up to Rs 1 crore, a third-party guarantee is required. If there is more than one owner, then the other owner’s guarantee must be obtained.
Additional Benefit: On locker rent, 50% concession can be given to self and spouse for the first two years.
The purpose of this scheme is to provide timely financial assistance to artisans for their investments and working capital requirements. The scheme is operative in both rural and urban areas.
Loan Amount: The maximum loan amount the bank can allow is Rs 2 lakhs.
Margin: Promoter’s contribution is not required for a loan up to Rs 25,000 and above Rs 25,000 the margin would be 25%.
Security: The bank requires hypothecation of the assets bought out of the loan amount.
Card Issuance: The bank will issue a photo card to the customer mentioning the sanctioned limit and validity of the credit facility. The customer will also be given a cheque book with ACC account mentioned. This credit card will be valid for 3 years.
This scheme is for small business units, artisans, professionals, self-employed persons, retail traders, and village industries if they have successful dealing with the bank for the last three years. The features of this scheme are
Assessment of credit card Limit: The card limit is as follows
Loan Amount: Up to Rs 10 lakhs will be allowed per borrower.
Security: The primary security will be the hypothecation of the stock bought out of the loan and the collateral securities will be the existing securities.
As the name suggests, this scheme is to encourage women entrepreneurs. Enterprises which have been managed by one or more women are eligible for this scheme.
Loan Amount: The loan amount will be assessed according to the purpose of the loan.
Margin: The promoter’s contribution up to Rs 25000 is nil.
Security: Up to Rs 25,000, no collateral security is required. However, hypothecation of the assets bought out of the loan will be taken as security. For loan above Rs 25,000, the scheme will require hypothecation or pledge of the assets bought out of bank loan, a guarantee of third party or spouse, collateral security in the form of building or land having double the value of loan is required.
This scheme mainly aims at restaurants and other fast-food chains. Any individuals, corporate, or partnership firms can opt for this scheme.
Loan Limit: The loan will be limited for the below
Loan: The loan can be allowed as term loan or overdraft.
Loan Amount: The scheme can allow a maximum of Rs 1 crore if taken as term loan and Rs 5 lakhs if taken as an overdraft.
Security: As security, the bank will require the hypothecation of the assets bought out of the loan. As collateral securities, the bank can accept personal guarantees of the promoters, partners, proprietors, fixed assets, an extension of current assets, etc. Up 10 lakhs covered under CGTMSE does not require collateral security or third party guarantee.
The target group for this scheme would be all the existing and prospective owners of Brick Kilns. This scheme can be allowed to corporates, proprietorships, partnership firms and individuals.
Loan: The loan under this scheme can be allowed as term loan and working capital.
Loan Amount: The loan amount will be decided according to the project cost. However, the maximum amount is set to Rs 50 lakhs.
Securities: Hypothecation of assets bought out of the loan need to be given as primary security. As collateral security, the bank can accept a personal guarantee of promoters, proprietors, and partners. Also, the bank can accept immovable property and bank deposits as collateral security. If covered under CGTMSE, no collateral guarantee is required.
This scheme aims to give financial support to eateries such as restaurants, Ice-cream parlours, meat shops, bakeries, etc. The features are
Loan: The loan can be allowed as a term loan or working capital. The customer has to repay the loan within 60-72 EMIs.
Loan Amount: The loan amount given will be equal to 4 months sale. The maximum amount of loan allowed for individual borrowers and partnership firms will be Rs 5 lakhs and Rs 10 lakhs respectively.
Margin: The promoter’s contribution will be 15-25%.
Guarantor: The bank can accept an independent person with good integrity as a guarantor.
Security: As collateral security, the bank needs 150% of credit limit and 100% in case of Govt. securities or NSC/Life insurance policies.
This scheme is for retail traders
Loan Amount: The maximum loan amount is Rs 30 lakhs as per existing guidelines. As per amended guidelines, the maximum limit is Rs 10 lakhs, Rs 20 lakhs, and Rs 30 lakhs for Rural, Semi-urban, and metropolitan respectively.
Stock Statement: Up to Rs 10 lakhs, the customer will have to submit the stock statement once a year and above Rs 10 lakhs till Rs 30 lakhs the submission should be on a monthly basis as per existing guidelines and once a year as per amended guidelines.
This scheme can be termed as an all-purpose credit facility which means, the scheme can be used for all legitimate expenses. The scheme targets Income Tax assesses within the age limit of 18 years and 65 years.
Loan Amount: The minimum amount allowed can be Rs 5 lakhs and the maximum is Rs 500 lakhs. The repayment period if the amount is taken as a term loan is 10 years maximum and if taken as an overdraft, repayment should be done upon demand. Overdraft facility is not available for salaried class.
Rate of Interest: The interest rate is as follows-
Guarantee: Under this scheme, the guarantee is not compulsory.
This scheme is for all MSME in the manufacturing and services sector. The MSME could be a partnership, individual, co-operative society, or public or private limited company.
Loan Amount: The minimum amount allowed can be Rs 10 lakhs and the maximum is Rs 500 lakhs. If taken as a term loan, the repayment period is 7 years maximum. If given as overdraft, then the amount should be repaid when demanded.
Rate of Interest: The interest rate is as follows
Guarantee: The bank will require a personal guarantee of the property owners or spouse, directors, or partners.
This scheme is to provide financial support for any business purpose requirement of the business concern. This scheme can be taken by retail traders, wholesale traders, professionals, self-employed persons, partnership firms, etc.
Loan Amount: The minimum loan amount is Rs 5 lakhs and the maximum is Rs 500 lakhs. If taken as term loan repayment period is 10 years and if as working capital, its 5 years. If given as overdraft, then the amount should be repaid when demanded.
Guarantee: The bank will require a personal guarantee of the property owners or spouse, partners, or directors.
There are no eligibility criteria for Punjab and Sind Bank MSME Loan
You can apply for the MSME loan through the bank’s official site or you can visit Punjab and Sind Bank branch near you.
1. What is the promoter’s contribution under Laghu Udhyami Credit Card (LUCC) Scheme?
The promoter’s contribution under Laghu Udhyami Credit Card (LUCC) Scheme will be 25 %
2. What is the validity period of Laghu Udhyami Credit Card (LUCC) Scheme?
The validity period of Laghu Udhyami Credit Card (LUCC) Scheme is 3 years.
3. What is the rate of interest for PSB Scheme for Eating-Joints?
For loans up to Rs.2 lakh, the interest is PLRF and above Rs 2 lakhs, its PLR plus 1 %.
4. What are the processing charges under PSB Vyapar?
The processing charges if TL/WCTL facilities are 1% of the loan amount with Minimum of Rs.2000. For OD facilities .50 % of the limit sanctioned.
5. What do you mean by promoter contribution?
Promoter contribution is the certain percentage of the loan amount which the lender need to invest from their personal funds.
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