LOAN SCHEMES
AGRICULTURE & ALLIED SERVICE
Revolving Cash Credit Limit to Farmers (RCCL)
| Type | Remarks |
|---|---|
| Beneficiary | Any 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. |
| Purpose | Credit 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. |
| Margin | No margin money required. |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | It is a limit and renewed annually. |
| Collateral Security | 150% collateral security of the loan/limit amount as per collector rate fixed by the District Administration. |
Rural Housing Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Individual and members of Coop. Housing Societies. |
| Purpose | Purchase of built up houses, construction of new house, repairs/ renovation/addition/alteration of existing house in rural areas. |
| Loan Limit | The 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) |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 15 years. |
| Collateral Security | Where 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 fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Agriculture Infrastructure Fund scheme (AIF)
| Type | Remarks |
|---|---|
| Beneficiary | The 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. |
| Purpose | Post 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 Limit | The 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 interest | As decided by Bank from time to time. |
| Repayment period | The 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 Security | Primary: 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 fee | Nil |
| Technical and Financial Appraisal | PACS 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 Subvention | All 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)
| Type | Remarks |
|---|---|
| Beneficiary | Any 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. |
| Purpose | Production 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/-. |
| Margin | No margin money required. |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Half Yearly linked with Harvesting (Due Date-30th June and 31 January every year). |
| Collateral Security | Only Hypothecation of Crops. Collateral Security is Nil. |
Commercial Dairy Development Schemes
| Type | Remarks |
|---|---|
| Beneficiary | Any Individual, partnership firms, corporate body and any other cooperative organization. |
| Purpose | To increase the income of milk producers by helping them to purchase high yielding miltch cattle and to purchase of equipments. |
| Loan Limit | Maximum amount upto Rs.50.00 Lakh |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 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 Security | Guarantee 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 fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Mini Dairy Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Members of Coop. Milk Producers Societies/PACS. |
| Purpose | Purchase of upto 10 miltch cattle with ceiling of Rs 50,000/- each |
| Loan Limit | Maximum amount upto Rs. 5.00 Lakh |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 5 years in equated monthly installments with option of 3 months moratorium as per requirement |
| Collateral Security | Guarantee 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 fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Two-Wheeler loan to Farmers
| Type | Remarks |
|---|---|
| Beneficiary | The age of the borrower should not be less than 21 years and more than 65 years at the time of application. |
| Purpose | For the purchase of only new two wheeler. |
| Loan Limit | Rs.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 interest | As decided by Bank from time to time. |
| Repayment period | Maximum 5 years in monthly/half yearly installments. |
| Collateral Security | One Good Surety as per satisfaction of the bank and hypothecation in favour of bank. |
| Documents | Fard, photograph, quotation, driving licence, proof of residence |
| Processing fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
KCC for Animal Husbandry
| Type | Remarks |
|---|---|
| Beneficiary | To 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. |
| Purpose | Working Capital Finance may be provided to the eligible borrowers for cost of feed, labour, water & electricity, veterinary aid & misc. cost etc. |
| Loan Limit | Maximum 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. |
| Margin | Nil |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | The limit will be recovered in 12 monthly instalments along with interest. |
| Collateral Security | No 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 fee | Nil |
Piggery Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Producer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers. |
| Purpose | To encourage commercial pig rearing by farmers to improve their socio economic status. |
| Loan Limit | Maximum loan amount upto Rs.10.00 Lakh |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | 5-6 years in equated monthly installments including grace period of 1 year. |
| Collateral Security | Time 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 fee | As fixed by PSCB/DCCB from time to time. |
Goat Rearing Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Producer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers. |
| Purpose | To 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 Limit | Maximum loan amount upto Rs.5.00 Lakh |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | 7 years in equated monthly installments including grace period of 2 years. |
| Collateral Security | Time 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 fee | As fixed by PSCB/DCCB from time to time. |
Bee Keeping Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Producer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers. |
| Purpose | To help the rural masses to improve their economic position. |
| Loan Limit | Maximum loan amount upto Rs.10.00 Lakhs including working capital limit of Rs.1.00 Lakh. |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | 7 years in equated monthly installments including grace period of 6 months. |
| Collateral Security | Time 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 fee | As fixed by PSCB/DCCB from time to time. |
Fisheries Development Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Producer companies, Any Individual, partnership firms, corporations, NGOs, SHG, JLGs, cooperatives, entrepreneurs and farmers. |
| Purpose | To help the rural masses to improve their economic position. |
| Loan Limit | In 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. |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | 9 years in equated monthly installments including grace period of 1 year. |
| Collateral Security | Time 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 fee | As fixed by PSCB/DCCB from time to time. |
Scheme for providing Dairy loan to members of MPCS
| Type | Remarks |
|---|---|
| Beneficiary | Members of Coop. Milk Producers Societies |
| Purpose | Purchase of maximum 2 miltch cattle. |
| Loan Limit | Maximum amount upto Rs. 1.00 Lakh |
| Margin | 10% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 5 years in equated monthly or quarterly installments with option of 3 months moratorium as per requirement |
| Securities | No 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 fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
RETAIL LOAN
Personal Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Employees 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. |
| Purpose | Credit facility for meeting out socio-economic needs of employees. |
| Loan Limit | 20 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. |
| Margin | No margin money required. |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 10 years. |
| Collateral Security | One Good Guarantee as per satisfaction of the bank. |
| Processing fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Consumer Loan to Salary Earners
| Type | Remarks |
|---|---|
| Beneficiary | Individual Salary Earners and Non salary earners holding Saving bank/current account with the Bank. |
| Purpose | For the Purchase of Consumer Durables and meeting other Socio Economic Needs. |
| Loan Limit | 20 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 interest | As decided by Bank from time to time. |
| Repayment period | Maximum 5 years. |
| Collateral Security | One Good Sureties as per satisfaction of the bank. |
| Processing fee | 0.50% 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
| Type | Remarks |
|---|---|
| Beneficiary | The 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 Limit | Maximum 3.00 lakhs |
| Margin | No margin money required. |
| Rate of Intt. | As decided by Bank from time to time. |
| Repayment period | Renewable each year |
| Collateral Security | Two Good Sureties as per satisfaction of the bank. |
Urban Housing Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Individual and members of Coop. House Building Societies. |
| Purpose | Purpose Purchase of built up houses, construction of new house, repairs/ Renovation and addition of existing house in urban areas. |
| Loan Limit | The 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.. |
| Margin | 25% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 15 years. |
| Collateral Security | House property to be financed by the bank. |
| Processing fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Sehkari Education Loan Scheme
| Type | Remarks |
|---|---|
| Purpose | To provide financial assistance to deserving and meritorious students. For pursuing higher studies in India or abroad. |
| Loan Limit | Maximum amount upto Rs.20.00 Lakh |
| Margin | No margin required. |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | The 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 Security | The 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
| Type | Remarks |
|---|---|
| Beneficiary | Individual, Firm, HUF, Companies, Trust and Cooperative Societies. |
| Purpose | For the purchase of new vehicle for business and personal use. |
| Loan Limit | Maximum amount up to Rs.15.00 Lakh |
| Margin | 10 to 25% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 8 years in monthly or half yearly for Farmers. |
| Collateral Security | Hypothecation of the vehicle. |
| Processing fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Second Hand Vehicle Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Individual, Sole prop., Professionals and Partnership firms. |
| Purpose | For 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 Limit | Maximum amount upto Rs.5.00 Lakhs or 1.5 times of annual income or 75% of assessed price of vehicle, which ever is less. |
| Margin | 25% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 5 years in monthly or half yearly for Farmers. |
| Collateral Security | Two Good Sureties as per satisfaction of the bank besides the Hypothecation of the vehicle. |
| Processing fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Sehkari Gold Loan (SeGOL) Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Individuals 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. |
| Purpose | To 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 Limit | 65% 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 interest | As decided by Bank from time to time. |
| Repayment period | The 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 Security | Gold (Ornaments & coins issued by Banks/Post Office/jewelers) having purity of 18 carat or above. |
| Processing fee | 0.50% of sanctioned amount plus applicable GST shall be recovered from the borrower upfront. |
| Valuation charges | Appraiser 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
| Type | Remarks |
|---|---|
| Beneficiary | Any Individual or transport operator |
| Purpose | Purchase of E-Rickshaw for commercial use |
| Loan Limit | For 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. |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | The loan amount along with interest will be repaid in a maximum period of 36 months by monthly installments. |
| Collateral Security | Primary: 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 fee | As fixed by PSCB/DCCB from time to time. |
Loan against Rental Income Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Out the same to PSUs, Reputed Govt. and Semi Govt Corporates, Banks, Financial Institutions, Insurance Companies, Cooperative Societies, Trust and MNCs. |
| Purpose | For meeting business/personal needs. |
| Loan Limit | Maximum 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. |
| Margin | 50% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Maximum 10 years. |
| Security | Mortgage 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 fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Personal Loan Scheme for Professionals
| Type | Remarks |
|---|---|
| Beneficiary | Individuals practicing as professionals such as doctors, advocate, chartered engineers, chartered accountants, company secretary, architects, I.T professionals, interior designer, academicians running coaching centers. |
| Purpose | Credit facility for meeting out socio-economic needs. |
| Loan Limit | 1.5 times of Net Annual Income or Rs.5.00 Lakh, whichever is less. |
| Margin | No margin money required. |
| Rate of Intt. | As decided by Bank from time to time. |
| Prepayment Option | Borrower can make the part pre-payment of the loan. No penalty will be charged. |
| Repayment period | Maximum 7 years. |
| Collateral Security | The 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)
| Type | Remarks |
|---|---|
| Beneficiary | a) 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. |
| Purpose | The 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 Limit | Considering 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. |
| Margin | Nil |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | 30 months |
| Collateral Security | However, the mutual guarantees offered by the members will be taken. |
| Processing fee | As fixed by PSCB/DCCB from time to time. |
Short Term Non Agriculture Loan
| Type | Remarks |
|---|---|
| Beneficiary | Farm Labourers and Landless Farming Member who is a permanent resident of that area. Limit is available through Primary Agriculture Cooperative Societies in Punjab. |
| Purpose | Consumption needs |
| Loan Limit Acre. | Rs.25,000/- per Member (Rs.22,500/- as Cash Component and Rs.2500/- as Kind Component). |
| Margin | No margin money required. |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Half Yearly linked with Harvesting Date of Crops (Due Date-30th June and 31 January every year). |
Saral Vyapar Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Individual, 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. |
| Purpose | A-To meet working capital requirement (WCTL). B- Term Loan-To meet financing need for development/renovation of shop or purchase of equipment/furniture. |
| Loan Limit | Maximum amount up to Rs.5.00 Lakh. |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Renewable on annual basis |
| Collateral Security | Equivalent 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 fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Cash Credit Facility to Traders
| Type | Remarks |
|---|---|
| Beneficiary | Individual, Sole Prop, Firm, Coop. Societies or a company doing manufacturing / trading business/ providing services having an assured income. |
| Purpose | For meeting working capital requirements of business. |
| Loan Limit | For 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. |
| Margin | 25% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Renewable on annual basis |
| Collateral Security | Immovable properties for the value of 150% of the loan amount If loan exceed Rs 50000/- |
| Processing fee | 0.50% of the loan amount sanctioned with minimum of Rs.500/- and maximum of Rs.5000/- per loan case. |
Sehkari Green Energy Loan Scheme
| Type | Remarks |
|---|---|
| Beneficiary | Loan may be advanced only to individuals/entities/institutions whose past track record is good. |
| Purpose | Installation of solar panels |
| Loan Limit | Maximum 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. |
| Margin | 15% |
| Rate of interest | As decided by Bank from time to time. |
| Repayment period | Loan shall be advanced for maximum period of 5yesrs. Loan will be repaid in EMIs. |
| Collateral Security | Hypothecation 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 fee | As fixed by PSCB/DCCB from time to time. |
Non Farm Sector Loan Scheme (NFS)
| Type | Remarks |
|---|---|
| Beneficiary | Individual, Sole Proprietary Firm, Coop. Societies or a company. |
| Purpose | For the establishment of cottage, tiny and SSI unit. |
| Loan Limit | Maximum 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. |
| Margin | Minimum 10% |
| Rate of Intt. | As decided by Bank from time to time. |
| Repayment period | Maximum 5 to 7 years. |
| Collateral Security | Immoveable properties for the value of 150% of the loan amount. |
