2023 2024 MBA - Punjab And Sind Bank Auto Loan

Feel free I will get details of Punjab And Sind Bank, Auto Loan scheme so that you can go through it.

Eligibility
Individuals as well as business concerns(corporate or non-corporate)

Quantum of Finance
i) For Individuals & Proprietorship concerns:
New Vehicles & Old Vehicles: No maximum ceiling on amount of loan.

(Income of spouse / major son / parents can be clubbed subject to their becoming Co-borrower or guarantor in the loan).

ii) For business concerns and Institutions (corporate or Non-corporate): New & Old Vehicles:
a) For Repayment period up-to 3 years -:Twice the average annual cash accruals i.e. PAT+ Dep. as per the last year balance sheet, P&L account.

b) For Repayment period above 3 years and up-to 5 years -:Thrice the average annual cash accruals i.e. PAT+ Dep. as per the last year balance sheet, P&L account.

c) For Repayment period above 5 years and up-to 7 years -:Five times the average annual cash accruals i.e. PAT+ Dep. as per the last year balance sheet, P&L account.
(3 year ITR also to be obtained).

Margin
i) For New vehicles -- 10% on, on-road price (excluding accessories and Ins.)

ii)For old vehicles -- 25%

Age for repayment
Service class non pension : upto 60 years

Service class with pension : upto 70 years

Others : upto 70 years

Guarantee
1. Individual / Proprietorship cases:

a) Whereinstallment ispaidthrough deduction from salary/salary account: Guarantee may be waived.

b) In other cases: Guarantee of Spouse/Major son/Third party may be obtained.

2. Partnership firms cases: No guarantee to be obtained as all the partners would execute the documents and would be liable jointly and severely.

3. Joint Stock Companies/ Trusts / Associations etc.: Personal guarantee of any Director/ Trustee / Member (other than those who is executing the documents).

Address:-
Punjab And Sind Bank
2nd floor, 21 Rajendra Place, New Delhi-110008

Phone:-
011-25719082