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The Patiala Central Cooperative Bank Ltd.

LOAN SCHEMES

AGRICULTURE & ALLIED SERVICE

Revolving Cash Credit Limit to Farmers (RCCL)

TypeRemarks
BeneficiaryAny Farmer who have cultivable land and permanent resident of that area and should not have defaulted in the repayment of crop loan for the last three crops.
PurposeCredit facility/Term Loan for meeting out socio-economic needs.
Loan Limit Acre.Maximum amount Rs.20.00 Lakh subject to limit of Rs.2.00 lac per acre in Nawanshahr, Jalandhar, Kapurthala, Hoshiarpur and Ludhiana DCCBs and Rs.1.50 Lakh per acre in all other DCCBs.
MarginNo margin money required.
Rate of interestAs decided by Bank from time to time.
Repayment periodIt is a limit and renewed annually.
Collateral Security150% collateral security of the loan/limit amount as per collector rate fixed by the District Administration.

Rural Housing Scheme

TypeRemarks
BeneficiaryIndividual and members of Coop. Housing Societies.
PurposePurchase of built up houses, construction of new house, repairs/ renovation/addition/alteration of existing house in rural areas.
Loan LimitThe loan for a dwelling unit may not exceed Rs. 75.00 lacs. However in case of bank having net worth less than Rs 100 crore, the limit will be Rs. 50.00 lacs.
In case land is being acquired the cost of land may be reckoned as margin money, otherwise cost of land should not be included in the project. Maximum amount of loan for renovation /repair/addition/alteration is Rs 1.00 Lakhs (As per RBI Letter)
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 15 years.
Collateral SecurityWhere title deed of the plot is available and value of land is 200% of the loan amount as per collector rate, no collateral security is required and the security of the loan shall be first mortgage charge on the property to be financed by the bank by way of equitable mortgage with mutation in favour of the Bank in revenue records of the property. One guarantor known to the Bank is also be taken having good reputation and adequate networth. In case where title deed is not available, in addition to the primary security, collateral security shall be taken @ 100% of the loan amount in the form of agricultural land. Value of agriculture land as per norms fixed by the District Collector from time to time should be taken into consideration. In case of employees of the Govt., semi govt., Board, Corporation, etc, constructing house within rural areas, loan can be advanced on primary security i.e. mortgage of house to be financed, along with two good sureties and undertaking under section 39 of Punjab Cooperative Societies Act , 1961.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Agriculture Infrastructure Fund scheme (AIF)

TypeRemarks
BeneficiaryThe scheme shall be implemented by way of financing by eligible PACS.The criteria of selection of PACS to avail financial assistance under this scheme is as under:
a) The PACS should be profit making from last 2 years and are audited. Further, there shall not be Special Audit Report for the PACS.
b) There is average of minimum 75% recovery (member level) in last two cropping seasons of the PACS.
c) The loan amount is limited to 2 times of the own funds of the concerned PACS.
d) The PACS who have adopted digitization for handling its operations will be given preference under this scheme.
PurposePost Harvest Management Projects like Supply Chain services through e-marketing platform, Warehouses, Silos, Pack Houses, Assaying Units, Sorting and Grading Units, Cold Chains, Logistics facilities, Primary Processing Centers, Ripening Chambers.

Viable projects for building community farming assets including Organic Input production, Bio Stimulant production units, Infrastructure for smart and precision agriculture, Projects identified for providing supply chain infrastructure for clusters of crops including export clusters, Projects promoted by Central/State/Local Governments or their agencies under PPP for building community farming assets or post harvest management projects.
Loan LimitThe PACS have to contribute minimum margin of 10% of the total cost of project as promoter’s contribution and PACS can avail term loan of maximum 90% of the total project cost or Rs.200.00 lakh whichever is less. The maximum loan amount to be availed by PACS shall also be limited upto 2 times of the own funds of the concerned PACS. Eg: If a PACS has own funds of Rs.10.00 lakh, then maximum loan PACS can avail under this scheme will be Rs.20.00 lakh only.
Rate of interestAs decided by Bank from time to time.
Repayment periodThe loan amount along with interest will be repaid in a maximum period of 7 years (including moratorium period) by half yearly instalments. Further, moratorium period for repayment under this financing facility may vary as per financing activity subject to minimum of 6 months and maximum of 2 years.
Collateral SecurityPrimary: Hypothecation/mortgage of the assets to be purchased/Constructed out of Bank’s finance.

Collateral: As there is no Credit Guarantee available from CGTMSE, therefore, for Loan amount above Rs.25.00 Lakh, Collateral Security in form of land, building 150% of the loan amount shall be taken as security. The value of security can be ascertained by obtaining collector rate of the property.
Processing feeNil
Technical and Financial AppraisalPACS has to submit the Detailed Project Report to the Bank along with loan application, DRCS recommendations and other supporting documents. The DCCB has to check the technical feasibility and economic viability of the proposals submitted by PACS. The sound appraisal shall be done and the decision regarding sanctioning the loan by the Bank will be made within a period of 60 days from the date of loan application.
The Bank will exercise the due diligence in risk assessment/appraisal including loan eligibility and repaying capacity of the PACS.
Interest SubventionAll loans under this facility will have interest subvention of 3% per annum upto the loan amount. This subvention will be available for a maximum period of 7 years. The subvention will be allowed only till the loan account is under standard category. Further, if the accounts slips into NPA, no subvention will be allowed for the period account remains under NPA category. The subvention will be further allowed from the date of upgradation of the account to the standard category. The interest subvention will be released to the Bank through PFMS as per scheme guidelines by Government of India.

Kisan Credit Card to Farmers (Short Term Crop Loan)

TypeRemarks
BeneficiaryAny Farmer who have cultivable land and permanent resident of that area and should not have defaulted in the repayment of crop loan for the last three crops. Limit is available through Primary Agriculture Cooperative Societies in Punjab.
PurposeProduction of Crops
Loan Limit Acre.As per land holding and Scale of Finance. (SOF per acre for Wheat-Rs.23000/-, Paddy-Rs.24000/-, Cotton-Rs.24000/-, Maize-Rs.22000/-, Sugarcane-Rs.40000/-, Vegetables-Rs.42,000/-, Horticulture Crops-Rs.30,000/-.
MarginNo margin money required.
Rate of interestAs decided by Bank from time to time.
Repayment periodHalf Yearly linked with Harvesting (Due Date-30th June and 31 January every year).
Collateral SecurityOnly Hypothecation of Crops. Collateral Security is Nil.

Commercial Dairy Development Schemes

TypeRemarks
BeneficiaryAny Individual, partnership firms, corporate body and any other cooperative organization.
PurposeTo increase the income of milk producers by helping them to purchase high yielding miltch cattle and to purchase of equipments.
Loan LimitMaximum amount upto Rs.50.00 Lakh
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum period of repayment of loan is nine years, with maximum moratorium period of 9 months or one month after date of last disbursement of loan, whichever is earlier. However, the recovery of interest accrued shall be affected on monthly rests during the moratorium period.
Collateral SecurityGuarantee of two persons, who should be nominal member of the bank.
Mortgage of landed property whose value not less than one 150% of the loan amount. The value of this land shall be determined by taking the mean value of collector rate assessed by district Administration and market value assessed by empanelled valuer of the Bank.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Mini Dairy Scheme

TypeRemarks
BeneficiaryMembers of Coop. Milk Producers Societies/PACS.
PurposePurchase of upto 10 miltch cattle with ceiling of Rs 50,000/- each
Loan LimitMaximum amount upto Rs. 5.00 Lakh
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 5 years in equated monthly installments with option of 3 months moratorium as per requirement
Collateral SecurityGuarantee of two persons, who should be nominal member of the bank.
Mortgage of landed property whose value not less than one 150% of the loan amount. The value of this land shall be determined by taking the mean value of collector rate assessed by district Administration and market value assessed by empanelled valuer of the Bank.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Two-Wheeler loan to Farmers

TypeRemarks
BeneficiaryThe age of the borrower should not be less than 21 years and more than 65 years at the time of application.
PurposeFor the purchase of only new two wheeler.
Loan LimitRs.2.00 Lakh or 90% of the on road price of the two-wheeler, whichever is less. The on-road price includes the cost of the vehicle, cost of the insurance and cost of the registration only.
Margin :10.00%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 5 years in monthly/half yearly installments.
Collateral SecurityOne Good Surety as per satisfaction of the bank and hypothecation in favour of bank.
DocumentsFard, photograph, quotation, driving licence, proof of residence
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

KCC for Animal Husbandry

TypeRemarks
BeneficiaryTo address the credit needs of farmers engaged in activities related to Animal Husbandry, the Bank has decided to extend KCC facility to the regular members of PACS.
a) For Cow and Buffalo, the applicant should be PACS member and has availed ST Agri (Crop Loan) from PACS & have not defaulted in the repayment of crop loan for the last three crops subject to the condition that he is supplying milk to the MPCS for last one year are eligible under this scheme.
b) For sheep/goat, pig, layer/broiler, the applicant should be the member of PACS and has availed ST Agri (Crop Loan) from PACS & have not defaulted in the repayment of crop loan for the last three crops
c) The member of PACS must have animals (cow, buffalo, sheep/goat, pig, layer/broiler) to avail this facility and insurance of the animals with proper tagging etc. along with Veterinary Doctor’s certificate regarding good health is necessary.
d) The borrower shall not be defaulter of Cooperative Bank and other financial institutions. CIBIL check will be mandatory and it shall be ensured that the applicant has not availed crop loan/KCC from any other lending institution.
PurposeWorking Capital Finance may be provided to the eligible borrowers for cost of feed, labour, water & electricity, veterinary aid & misc. cost etc.
Loan LimitMaximum upto Rs.3.00 lakh subject to the Scale of Finance approved by RCS, Punjab, Chandigarh vide letter no. RCS/Credit-1/CA2/255/25 dated 17.01.2020. The limit will be calculated as per number of animals and approved Scales of Finance.
MarginNil
Rate of interestAs decided by Bank from time to time.
Repayment periodThe limit will be recovered in 12 monthly instalments along with interest.
Collateral SecurityNo collateral security is to be obtained upto limit of Rs.1.60 lakh. Beyond Rs.1.60 lakh, the limit will be provided against 150% collateral security in form of land/building, residential house and fixed deposits.
Processing feeNil

Piggery Loan Scheme

TypeRemarks
BeneficiaryProducer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers.
PurposeTo encourage commercial pig rearing by farmers to improve their socio economic status.
Loan LimitMaximum loan amount upto Rs.10.00 Lakh
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment period5-6 years in equated monthly installments including grace period of 1 year.
Collateral SecurityTime pronote, Guarantee of two persons having sufficient net worth, who should be nominal member of the bank.
There will be no collateral security for loan upto Rs.1.00 lakhh. Loan for Rs.1.00 lakh and above will be sanctioned on mortgage of landed property whose value should not be less than 150% of the loan amount. The value of this land shall be determined by taking the mean value of collector rate assessed by district Administration and market value assessed by empanelled valuer of the Bank.
Hypothecation of the animals to be financed by the Bank.
Processing feeAs fixed by PSCB/DCCB from time to time.

Goat Rearing Loan Scheme

TypeRemarks
BeneficiaryProducer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers.
PurposeTo help the rural masses to improve their economic position. To encourage value addition of the products and help persons realize a better income from the animals.
Loan LimitMaximum loan amount upto Rs.5.00 Lakh
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment period7 years in equated monthly installments including grace period of 2 years.
Collateral SecurityTime pronote, Guarantee of two persons having sufficient net worth, who should be nominal member of the bank.
Mortgage of landed property whose value should not be less than 150% of the loan amount. The value of this land shall be determined by taking the mean value of collector rate assessed by district Administration and market value assessed by empanelled valuer of the Bank.
Hypothecation of the animals to be financed by the Bank.
Processing feeAs fixed by PSCB/DCCB from time to time.

Bee Keeping Loan Scheme

TypeRemarks
BeneficiaryProducer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers.
PurposeTo help the rural masses to improve their economic position.
Loan LimitMaximum loan amount upto Rs.10.00 Lakhs including working capital limit of Rs.1.00 Lakh.
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment period7 years in equated monthly installments including grace period of 6 months.
Collateral SecurityTime pronote, Guarantee of two persons having sufficient net worth, who should be nominal member of the bank.
Mortgage of landed property whose value should not be less than 150% of the loan amount. The value of this land shall be determined by taking the mean value of collector rate assessed by district Administration and market value assessed by empanelled valuer of the Bank.
Hypothecation of the bee keeping boxes to be financed by the Bank.
Processing feeAs fixed by PSCB/DCCB from time to time.

Fisheries Development Loan Scheme

TypeRemarks
BeneficiaryProducer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers.
PurposeTo help the rural masses to improve their economic position.
Loan LimitIn case of new Fish Pond- The Bank shall provide loan up to ceiling of Rs.10.00 lakh including working capital/cash credit limit of Rs.3.00 lakh or as decided by the Bank from time to time.
In case of existing Fish Ponds- The Bank shall provide cash credit limit up to the ceiling of Rs.10.00 lakh subject to maximum of Rs.2.00 lakh per hectare.
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment period9 years in equated monthly installments including grace period of 1 year.
Collateral SecurityTime pronote, Guarantee of two persons having sufficient net worth, who should be nominal member of the bank.
Mortgage of landed property whose value should not be less than 150% of the loan amount. The value of this land shall be determined by taking the mean value of collector rate assessed by district Administration and market value assessed by empanelled valuer of the Bank.
Hypothecation of the fishes to be financed by the Bank.
Processing feeAs fixed by PSCB/DCCB from time to time.

Scheme for providing Dairy loan to members of MPCS

TypeRemarks
BeneficiaryMembers of Coop. Milk Producers Societies
PurposePurchase of maximum 2 miltch cattle.
Loan LimitMaximum amount upto Rs. 1.00 Lakh
Margin10%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 5 years in equated monthly or quarterly installments with option of 3 months moratorium as per requirement
SecuritiesNo Guarantee for loan upto Rs.50,000/- or for one animal. For loan more than Rs.50,000/- or more than one animal:- guarantee by one person who should be nominal member of the bank. The guarantor should be the owner of at least one acre of agricultural land or a govt./ semi govt/ board/ corporation/ cooperative employee having remaining service more than the tenure of loan.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

RETAIL LOAN

Personal Loan Scheme

TypeRemarks
BeneficiaryEmployees of Punjab Govt., PSU, Boards, Corporations, Aided Schools/Colleges, Universities, Public Sector Banks, Premier Medical Institutions, General Insurance Companies, Punjab State Cooperative Bank, District Central Cooperative Banks in the State of Punjab, Cooperative Organizations in the State of Punjab etc.
No employee will be given this loan facility, who is defaulter in repayment of loan under any other scheme.
PurposeCredit facility for meeting out socio-economic needs of employees.
Loan Limit20 times of gross monthly salary or Rs. 15 lakh which ever is less. However, it should be ensured that the carry home salary should be 40% of the gross salary after deductions.
MarginNo margin money required.
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 10 years.
Collateral SecurityOne Good Guarantee as per satisfaction of the bank.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Consumer Loan to Salary Earners

TypeRemarks
BeneficiaryIndividual Salary Earners and Non salary earners holding Saving bank/current account with the Bank.
PurposeFor the Purchase of Consumer Durables and meeting other Socio Economic Needs.
Loan Limit20 times of gross monthly salary or Rs.3.00 lac or whichever is less. However, it should be ensured that the carry home salary should be 40% of the gross salary after deductions.
In case of non-salary earners, the amount of loan shall not exceed Rs.50,000/- per borrower or 75% of the cost of the article to be purchased whichever is less.
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 5 years.
Collateral SecurityOne Good Sureties as per satisfaction of the bank.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Overdraft Facility to salaried employees having Salary Account with Coop. Bank

TypeRemarks
BeneficiaryThe beneficiary will be a regular/permanent employee of Punjab Govt., Semi Govt., Autonomous Bodies, Boards & Corporations, Apex, District, Cooperative Institutions or any other organization with the approval of BOD, whose salary is being credited in the saving account of bank branch.
Loan LimitMaximum 3.00 lakhs
MarginNo margin money required.
Rate of Intt.As decided by Bank from time to time.
Repayment periodRenewable each year
Collateral SecurityTwo Good Sureties as per satisfaction of the bank.

Urban Housing Scheme

TypeRemarks
BeneficiaryIndividual and members of Coop. House Building Societies.
PurposePurpose Purchase of built up houses, construction of new house, repairs/ Renovation and addition of existing house in urban areas.
Loan LimitThe Maximum loan amount will be Rs.75.00 Lakh per borrower, however, in case of bank having net worth less than Rs 100 crore, the limit will be Rs. 50.00 lacs subject to other terms and conditions of the scheme.
For repairs/ renovation/ addition/ alteration is Rs 1.00 Lakhs (As per RBI Letter) Loan amount for purchase of plot shall not exceeds 50% of the total loan sanctioned. Maximum age limit is 65 years at the time of maturity of the loan..
Margin25%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 15 years.
Collateral SecurityHouse property to be financed by the bank.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Sehkari Education Loan Scheme

TypeRemarks
PurposeTo provide financial assistance to deserving and meritorious students. For pursuing higher studies in India or abroad.
Loan LimitMaximum amount upto Rs.20.00 Lakh
MarginNo margin required.
Rate of interestAs decided by Bank from time to time.
Repayment periodThe recovery of principal amount will start after one year of total duration of course or after 6 months of getting the job/employment by the applicant whichever is earlier. However during the moratorium period the interest will be recovered on monthly basis. After moratorium period the loan will be recovered in maximum period of 60 months.
Collateral SecurityThe loan scheme can be availed by wards of salaried employees of the cooperative Banks and Punjab Government/Chandigarh Administration and the employees of their Boards, Corporations as well as non-salary earners subject to submission of adequate income proof.
Securities
In case of salaried employees:
No collateral Security shall be taken for loan upto Rs. 5.00 lac in case of parents/ guardian of student is salaried employee of Punjab Govt./ Apex and Central Cooperative Institutions/ Board/ Corporation. However an undertaking/ irrevocable letter authorizing DDO/ Employer for deduction of installment of loan u/s 39 of the Punjab Cooperative Societies Act 1961 shall be obtained.
In case loan is above Rs.5.00 lac, the loan will be advanced against collateral security valuing 150% of the amount of loan. The collateral security can be in the form of land/building, NSC/KVP/LIC Policy /Bank deposits.
In case of employees of PSCB/DCCB:
No collateral Security shall be taken for loan upto Rs. 15.00 lac in case of parents/ guardian of student is salaried employee of PSCB/DCCB. However an undertaking/ irrevocable letter authorizing DDO/ Employer for deduction of installment of loan u/s 39 of the Punjab Cooperative Societies Act 1961 shall be obtained.

In case of other than salaried employees:
No collateral Security shall be taken for loan upto Rs. 1.00 lakh. In case of loan above Rs.1.00 lakh, the loan will be advanced against collateral security valuing 150% of the amount of loan. The collateral security can be in the form of land/building, NSC/KVP/LIC Policy/Bank deposits.

In addition to above in all categories mentioned above, one guarantor known to the bank will also be taken.

Vehicle Loan Scheme

TypeRemarks
BeneficiaryIndividual, Firm, HUF, Companies, Trust and Cooperative Societies.
PurposeFor the purchase of new vehicle for business and personal use.
Loan LimitMaximum amount up to Rs.15.00 Lakh
Margin10 to 25%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 8 years in monthly or half yearly for Farmers.
Collateral SecurityHypothecation of the vehicle.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Second Hand Vehicle Loan Scheme

TypeRemarks
BeneficiaryIndividual, Sole prop., Professionals and Partnership firms.
PurposeFor the purchase of second hand vehicle should not be more than 4 years old, should be accidental free, one time road tax paid, bearing registration number of UT, Chandigarh or State of Punjab. .
Loan LimitMaximum amount upto Rs.5.00 Lakhs or 1.5 times of annual income or 75% of assessed price of vehicle, which ever is less.
Margin25%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 5 years in monthly or half yearly for Farmers.
Collateral SecurityTwo Good Sureties as per satisfaction of the bank besides the Hypothecation of the vehicle.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Sehkari Gold Loan (SeGOL) Scheme

TypeRemarks
BeneficiaryIndividuals above 25 years of age, Any individual (singly or jointly) with Steady/any source of income including Bank’s Employees. Borrower with age above 18 years & upto 25 years will also be eligible with the condition that co-applicant with age of 25 years & above and earning member from his/her family, must be ensured.
Initially the scheme will be implemented only in Main Head Quarter Branch Office situated at DCCB Level/Apex Bank having strong room and proper security arrangements.
PurposeTo provide financial assistance for meting out emergency expenses, personal requirement of individuals, such as house repair, marriage, medical treatment, educational purpose, consumption expenses etc.
Loan Limit65% of current market value of Gold (Ornaments etc.) depending upon market scenario. The Branch Manager to ensure and check the daily price of gold as per its card rate. The current value of Gold can be considered to be on fortnightly basis that is on first and fifteen of the month. The loan will be disbursed directly into saving/current account of the borrower.
a) Minimum Loan Amount-Rs.25,000/-
b) Maximum Loan amount-Rs.2.00 Lakh
Rate of interestAs decided by Bank from time to time.
Repayment periodThe period of the loan shall not exceed 12 months from the date of sanction. The interest will be charged to the account at monthly rests but will become due for payment along with principal only at the end of 12 months from the date of sanction.
Collateral SecurityGold (Ornaments & coins issued by Banks/Post Office/jewelers) having purity of 18 carat or above.
Processing fee0.50% of sanctioned amount plus applicable GST shall be recovered from the borrower upfront.
Valuation chargesAppraiser fee: 0.25 % of the loan amount subject to a minimum of Rs.500/-. The valuation charges will be borne by the borrower at the time of sanction of the loan.

E-Rickshaw Loan Scheme

TypeRemarks
BeneficiaryAny Individual or transport operator
PurposePurchase of E-Rickshaw for commercial use
Loan LimitFor New E-Rickshaw only: 85% of the on road price or Rs.1,00,000/- (Rupees One Lakh only) whichever is less. The Battery repLakhement after one year shall be borne by the borrowers from his own sources.
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment periodThe loan amount along with interest will be repaid in a maximum period of 36 months by monthly installments.
Collateral SecurityPrimary: Vehicle purchased with the amount of the loan will remain hypothecated to the Bank as security of the advance.
Collateral: Nil.
One Guarantor known to the bank.
Processing feeAs fixed by PSCB/DCCB from time to time.

Loan against Rental Income Scheme

TypeRemarks
BeneficiaryOut the same to PSUs, Reputed Govt. and Semi Govt Corporates, Banks, Financial Institutions, Insurance Companies, Cooperative Societies, Trust and MNCs.
PurposeFor meeting business/personal needs.
Loan LimitMaximum to the extent of 50% of post TDS Rent receivable for a period not exceeding 120 month or un-expired period of lease, which ever is less. Minimum loan limit is Rs.1.00 lakh and maximum-Rs.25.00 lakh.
Margin50%
Rate of interestAs decided by Bank from time to time.
Repayment periodMaximum 10 years.
SecurityMortgage of Relative Immovable Property Value of 150% of the loan amount or NSCs, IVPs, Bank’s own deposit to the extent of 100% of loan amount.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Personal Loan Scheme for Professionals

TypeRemarks
BeneficiaryIndividuals practicing as professionals such as doctors, advocate, chartered engineers, chartered accountants, company secretary, architects, I.T professionals, interior designer, academicians running coaching centers.
PurposeCredit facility for meeting out socio-economic needs.
Loan Limit1.5 times of Net Annual Income or Rs.5.00 Lakh, whichever is less.
MarginNo margin money required.
Rate of Intt.As decided by Bank from time to time.
Prepayment OptionBorrower can make the part pre-payment of the loan. No penalty will be charged.
Repayment periodMaximum 7 years.
Collateral SecurityThe valuation of the collateral security shall be 150% to the loan amount. In addition to that one guarantor known to the bank will also be taken.

OTHER LOAN

Direct Loan To Joint Liability Group (JLG)

TypeRemarks
Beneficiarya) The scheme will be implemented on the lines of financing individuals in the Joint Liability Group.
b) Joint Liability Group means such informal groups wherein the number of members shall be four.
c) Every member should be from different families but same social environment and involved in same economical activities.
PurposeThe objective of scheme is to extend collateral free loans to self employed ladies, unemployed or low-income individuals through JLG formed through MPCASS/MPCS/FLC Counselors as business correspondent.
Loan LimitConsidering that the loan to be granted is against the mutual guarantee offered by the group, maximum amount of loan will be restricted to Rs. 1,00,000 per individual.
MarginNil
Rate of interestAs decided by Bank from time to time.
Repayment period30 months
Collateral SecurityHowever, the mutual guarantees offered by the members will be taken.
Processing feeAs fixed by PSCB/DCCB from time to time.

Short Term Non Agriculture Loan

TypeRemarks
BeneficiaryFarm Labourers and Landless Farming Member who is a permanent resident of that area. Limit is available through Primary Agriculture Cooperative Societies in Punjab.
PurposeConsumption needs
Loan Limit Acre.Rs.25,000/- per Member (Rs.22,500/- as Cash Component and Rs.2500/- as Kind Component).
MarginNo margin money required.
Rate of interestAs decided by Bank from time to time.
Repayment periodHalf Yearly linked with Harvesting Date of Crops (Due Date-30th June and 31 January every year).

Saral Vyapar Scheme

TypeRemarks
BeneficiaryIndividual, Sole Proprietor/Partnership Firms, Private Limited Companies engaged in manufacturing, service and trading activity. A few examples: Retail traders in Fast Moving Consumer Goods (FMCG)/ Textiles/ Readymade Garments/ Watches/ Luggage /Consumer Durables / Tiles & sanitary ware/ Book Stores/ Cement/ Pharmaceuticals, dealers in groceries, jewellers, Dhaba/Restaurant owners, carpenters, sweet shops, barbar shops etc.

Current account customers (saving bank account holder in case of proprietorship firms) maintaining satisfactory relationship with us/other banks from last one yearand engaged in manufacturing/trading/servicing activity.
PurposeA-To meet working capital requirement (WCTL).
B- Term Loan-To meet financing need for development/renovation of shop or purchase of equipment/furniture.
Loan LimitMaximum amount up to Rs.5.00 Lakh.
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment periodRenewable on annual basis
Collateral SecurityEquivalent to minimum 150% (collector value) of the loan amount in the form of built up immovable property either residential or commercial. Open plot within municipal limits with proper demarcation can also be accepted as collateral security.
The value of construction shall be taken as maximum amount of Rs.1000/- per sq. ft. for A Class construction.
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Cash Credit Facility to Traders

TypeRemarks
BeneficiaryIndividual, Sole Prop, Firm, Coop. Societies or a company doing manufacturing / trading business/ providing services having an assured income.
PurposeFor meeting working capital requirements of business.
Loan LimitFor new units-The maximum amount of Cash Credit Limit under these Rules shall be Rs. 25 Lacs.
For existing Regular Limit in the books of Bank from last 3 years, if the borrower desires to increase the limit as per his eligibility, the maximum amount of Cash Credit Limit under these Rules shall be Rs. 40 Lacs as per eligibility.
Margin25%
Rate of interestAs decided by Bank from time to time.
Repayment periodRenewable on annual basis
Collateral SecurityImmovable properties for the value of 150% of the loan amount If loan exceed Rs 50000/-
Processing fee0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case.

Sehkari Green Energy Loan Scheme

TypeRemarks
BeneficiaryLoan may be advanced only to individuals/entities/institutions whose past track record is good.
PurposeInstallation of solar panels
Loan LimitMaximum 85% of the total project cost or Rs.15.00 lakh whichever is less for institutions like schools, colleges, hospitals etc. and upto Rs.5.00 lakh for an individual and upto Rs.3.00 lakh in case of financing through MPCASS.
Margin15%
Rate of interestAs decided by Bank from time to time.
Repayment periodLoan shall be advanced for maximum period of 5yesrs. Loan will be repaid in EMIs.
Collateral SecurityHypothecation of assets created out of Bank’s loan. Mortgage of immovable property (150% Collateral) in case loan amount is more than 1 Lakhs. One guarantor known to the Bank. In case of salaried individual, collateral security is not required. If the applicant or the co-applicant who is a Punjab Govt./Central Govt./PSU/Co-operative Sector employee and directly approach the bank for this loan then collateral security can be waived upto a loan amount of Rs.5.00 lakh.
Processing feeAs fixed by PSCB/DCCB from time to time.

Non Farm Sector Loan Scheme (NFS)

TypeRemarks
BeneficiaryIndividual, Sole Proprietary Firm, Coop. Societies or a company.
PurposeFor the establishment of cottage, tiny and SSI unit.
Loan LimitMaximum amount Rs.25.00 Lakh at CCBs level, from Rs 25 Lakhs to Rs. 50 Lakh by concerned DCCB along with concerned Divisional Manager and above Rs. 50 Lakhs by Apex bank.
MarginMinimum 10%
Rate of Intt.As decided by Bank from time to time.
Repayment periodMaximum 5 to 7 years.
Collateral SecurityImmoveable properties for the value of 150% of the loan amount.

ATM & NEFT/RTGS Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
ATM ChargesAnnual ATM card charges ->1st year free ->2nd year – Rs.100/-Same Charges
2ATM Financial TxnATM Aquirer (Financial Txn) charges, after 5 transactions – Rs.21/- per transactionSame Charges
3ATM Non-Financial TxnATM Aquirer (Non Financial Txn) charges, after 5 transactions – Rs.7/- per transactionSame Charges
4New ATM card issue charges1st ATM card is freeSame Charges
5For reissue of ATM card – Rs.200/-Same Charges
6SMS ChargesRs. 15/- per QuarterSame Charges
7RTGS/NEFT chargesNo chargesNo charges

Bank Gurantee Against Deposit Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Bank Guarantee against depositMinimum charges Rs.500/-Up to Rs.500000- 2% p.a.Above Rs. 500000 – 1% p.a.Charges to be levied at the time of issuing of guaranteeSame Charges

Interest Certificate Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Interest certificate/ Balance certificateFirst copy- FreeSubsequent copy- Rs.100/-per copyNo charges

Photo Attestation and Signature Verification Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Photo attestation chargesRs.50/- for Saving AccountsRs.100/- for Current AccountsNo charges
2Signatures verification chargesRs.50/- for Saving AccountsRs.100/- for Current AccountsFree for- Students, Defence forces, War widows, Physically handicap & Signature attestation for ECS purposeNo charges

Account Closer Charges Saving/RD

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Account closer chargesUp to 1 year account Rs.500/-above 1 year account Rs.250/-No charges for deceased casesNo charges
2Closing of RD A/c before maturityRs.100/-On account of death of customer no charges should be levied.Same Charges
3Penalty for late payment of RD installmentPenalty charges to be levied for delayed installments in Recurring Deposit Accounts @ Rs.2/- for Rs.100 p.m. irrespective of periodicity of deposit (Minimum Rs.20/-)Same Charges

Cash Deposit in Current Account*

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Cash deposit in Current Account (except Govt./Coop. Institutions.)No chargesNo charges

Payments under CBS other than Parent Branch

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Payments under CBS Other than parent branchCash Payment/Deposits under CBSOther than parent branch customers.No chargesNo charges

Excess Debit Entries Charges in SB Account

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Charges for excess debit entries in SB AccountAfter 30 Manual Debit entries per half year, Rs.5/- per entryshould be debited by system,No charges

Saving/Current Account->Cheque Book Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Cheque Book charges Saving Bank A/cOne cheque book containing 20 leaves free per half year Rs.2.50/- per leaf for extra cheque.Same charges
2Cheque Book chargesCurrent A/cNo free cheque book is to be issued. Rs.3.00/- per leaf for each cheque.Same charges

Saving/Current Account->Minimum Balance Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Maintenanceof Minimum BalanceSaving Bank DepositsThe Customer who does not maintain minimum balance of Rs.500/- and Rs.1000/- withcheque book facility in his account the service charges shall be levied atthe following rates per month:Rs.100/- per month, will be debited every month.No charges for Senior Citizens.No charges
2Maintenanceof Minimum Balance Current AccountMin. balance Rs.5000/- is to be maintained.Rs.300/- per month, will be debited every month for non-maintenance ofminimum balance.Same Charges

Account Statement and Duplicate Pass Book Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
Statement of account All types of accounts.One statement for current month and proceeding month is free.Rs.50/- per statement for other months of current financial year.Rs.100/- per statement for proceeding financial years.No service charges for statement through own registered E-Mail.No charges
2Duplicate Pass BookFirst Pass-Book free.Additional passbooks on completion of previous passbook is also free.Rs.100/- for issuing duplicate passbook on request.Same charges

SAFE Custody and Locker Rent Charges

Sr No.Detail of ServicesApplicable Charges (For Customers)ChargesApplicable Charges {For Bank Staff (Including Retired)}
1SAFE CUSTODY CHARGESCharges for sealed cover/envolpe is Rs.300/- per month for per cover/ envolpe.Charges for a box is Rs.600/- per month for per box.Same Charges
2LOCKER RENTSmall Locker900/- p.a.Concession of 50% charges in Locker rent. All other charges will remain same.
Medium Locker1500/-p.a.
Big Locker3000/- p.a.
Extra Large Locker5000/-p.a.
No Lien
Note: In case of loss of key of the Lockers, actual expenditure incurred for breaking open the locker and changing the lock by manufacturers of lockers, should be recovered from the account holders. Penalty charges per Quarter or part thereof:
Small LockerRs.100/-
MediumRs.300/-
BigRs.500/-
Extra LargeRs.800/-
* Any default will atract penalty charges for a full quarter.
*The rent should become due w.e.f. 1st of succeeding month, in which the locker is leased out. One month may be allowed for payment of rent due.

Standing Instructions and STOP Payment Instructions

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1STANDING INSTRUCTIONSRejection/Failure charges are Rs.50/- per instruction once during a month.For RD account rejection charges are Rs.25/- per instruction once during a month.No charges
2STOP PAYMENT INSTRUCTIONAll types of accountsPer instrument Rs.100/-andRs.50/- for additional each instrument in a single instance.Same Charges

Issuance/Cancellation of Banker Cheque /Pay Order/DD

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Issuance of Banker cheque/ Pay order/DDUp to Rs.10000/- Rs.50/- Above Rs 10000/- Rs.50/- plus Rs.3/- per thousand for amount above Rs.10000/- Maximum Rs.10000/- Branch Manager is authorized to waive charges to Govt./Semi-Govt./ Cooperative Institutions, having good amount of deposit.Every Staff Member is entitled for one free draft/ payorder of any amount in a month
2Issuance of Duplicate Banker’s cheques/DDsRs.100/-No charges
3Revalidation/Cancellation Of Pay order/DDsRs.50/-No charges

Cheques/ECS- Outward Inward

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Outward Cheques/Bills returned unpaidCharges for outward Cheques/Bills Clearing Returns, outward loan Cheques return. Rs.100/- per instrumentSame Charges
2Inward Cheques/Bills return unpaidRs.100/- per instrument.Same Charges
3ECS outward and inward clearing returnRs.100/- per instrumentSame charges

Collection of Outstation Cheques/Bills

Sr No.Detail of ServicesApplicable Charges (For Customers)Applicable Charges {For Bank Staff (Including Retired)}
1Collection of Outstation ChequesUp to Rs. 5000/- Rs 25/- From Rs 5001/- to Rs 10000/- Rs.50/- From Rs10000/- to Rs 100000/ Rs 100 Above Rs100000/- Rs150/- Above charges are per instrument.Same charges
2Collection of BillsUp to Rs. 10000 Rs. 50/- plus Postal charges Rs. 10001 and above Rs.6/- per thousand, Min 100/- and Max. 12000/- plus postage. No collection charges to be levied for collection of local cheques/drafts. However, out of pocket expenses be recovered in full. Collection charges in cases of outstation cheques/bills should be levied on the gross amount of instrument. Further, No charges to be taken from Senior Citizens/pensioners for collection of pension up to Rs 10000/-Same charges

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