The Bank offers Personal Loan for various purposes such as meeting medical expenses, renovation of residential accommodation, traveling, marriage etc.

Eligibility : Individuals who are competent to contract as per Indian Contract Act.

Income : Net income of the person should not be less than Rs.5,000/- p.m. in case of salaried persons and Annual Income of not be less than Rs.60,000/- in case of others.

Loan Amount : The maximum amount of loan is restricted to Rs. 2,00,000/- only.

Margin : Not applicable.

Security : Since it is a clean loan, security is not insisted upon. Collateral security in the form of Liquid security may be insisted upon depending on the merit of each case.

Guarantee : Personal guarantee of two solvent third parties is insisted upon.

Period of Loan : Loan may be repaid in 36/48/60 Equated Monthly Installments (EMI).

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is PLR + 4%, i.e. 17.50% p.a.

Service Charges : 1% of the loan amount (+ Service Tax + Education Cess) as applicable.

“Life is where the home is”, it is said. House is the most sacred, peaceful, and loving place one can think of. Apart from owning a house, equip with all the comforts and modern gadgets is dream of all of us. The Bank helps in realizing our dream by financing the purchase of consumer durables and utility articles such as fridge, washing machine, cooking range, computers, etc. under the head “Consumer Loan”.

Eligibility : Individuals, professionals, self employed and businessmen.

Income : Net income of the person should not be less than Rs.5,000/ p.m. in case of salaried persons and Annual Income of not be less than Rs. 60,000/ in case of others.

Loan Amount :Cost or invoice value of the articles to be purchased subject to the maintenance of prescribed margin and subject to a maximum of Rs. 2.00 lakh.

Margin : If the loan amount is less than Rs. 50,000/- - Margin - Nil
If the loan amount is more than Rs. 50,000/- - Margin 25 %

Security : Hypothecation of the articles to be purchased.

Guarantee : One or two solvent third parties depending on Loan amount.

Period of Loan : Maximum period of loan is 60 months. It should be paid in EMI.

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is PLR +3%, i.e. 16.50% p. a.

Service Charges : 0.50% of the loan amount. + Service Tax + Education Cess as applicable.

In the past, owning a car or two wheeler was matter of prestige and symbol of ones standard of living. Due to economic development and availability of variety of vehicles in the market, it has become a way of life. It leads to comfort of life and helps a person in his profession and vocation. It increases ones efficiency and income generation capacity. Realising this need of the person, the Bank has designed a loan scheme called “Car Loan Scheme"

Eligibility : Any persons such as individuals, professionals, self employed and businessmen. They may be individuals, proprietary Concerns, Partnership Firms, Joint Stock Companies, etc.

Income : The income of the person should such that he is in a position to repay the amount within the stipulated period.

Loan Amount : The loan amount covers the cost of the vehicle as per invoice, registration and one time tax in case of new vehicle and agreement value or market value, whichever is lower, in case of second hand vehicle after maintaining the prescribed margin.

Margin :

A) New Car/Jeep/Van

    - 15% of invoice Value (Purchased from Authorised Dealer)
    - + RTO one time taxes
    
B) Second Hand Car/Jeep/Van

    - Upto 1 year Old – 30% margin on Purchase Value or Insured Declared Value whichever is less.
    - More than 1 year & Upto 2 years Old- 20% margin on Purchase Value or Insurance declared Value whichever is less.

Security : Hypothecation of the vehicle to be purchased.

Guarantee :

New Vehicle - One solvent third party.

Second hand Vehicle - Upto 3 Lacs - One solvent third party
                                 Above 3 Lacs - Two solvent third parties

Period of Loan :

New Vehicle - Maximum 5 years

	Max Rep. period
Second Hand Vehicle upto 1 year	48 months
Second Hand Vehicle above 1 to 2 years	36 months

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is as follows:

Period	New Car / Jeep/ Van	Second Hand Car
Upto 3 years	12.50 % p.a.	13.50 % p.a.
Upto 4 years	13.50 % p.a. *	14.50 % p.a.
Upto 5 years	14.50 % p.a. **

* 0.50% in rate of interest available for borrowers opting repayment period of 3 to 4 years AND
** 1.00% Concession available for borrowers opting repayment period of 4 to 5 years on fulfilling any one of the following criteria:

a) In case the margin maintained is 50% or more than the cost of vehicle.
b) If Proponent is employed with the Blue Chip Co. and direct deduction from Salary is available.
c) To Medical Practitioners & Chartered Accountants
d) Enjoying credit facilities (standard accounts with good repayment track record) of Rs.10.00 Lakh and above for a period more than 2 years.

Service Charges : 0.50% of the loan amount + Service Tax + Education Cess as applicable.

Prepayment Charges : If the loan is closed before 18 months, a charge of 3% of the loan amount will be levied. No charges are levied if the loan is closed beyond 18 months.

“Two wheeler” is the vehicle of the common man. As service to the common man, two wheeler loan is considered by the Bank. The Bank grants the loan as Consumer durable loan.

Eligibility : Individuals, professionals, self employed and businessmen.

Income : Net income of the person should not be less than Rs. 5,000/ p.m. in case of salaried persons and Annual Income of not be less than Rs. 60,000/ in case of others.

Loan Amount : The loan amount covers the cost of the vehicle as per invoice, registration and one time tax in case of new vehicle

Margin :

Upto 50,000 - NIL

Above 50,000 - 25% of Invoice

Security : Hypothecation of the vehicle to be purchased

Guarantee : One or Two solvent third parties depending on loan amount.

Period of Loan : Maximum period of loan is 60 months. It should be paid in EMI.

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is PLR + 3% i.e. 16.50% p.a.

Service Charges : 0.50% of Loan amount + Service Tax & Education Cess as applicable.

In order to meet the unforeseen and urgent commitment, a loan against liquid security is sought for. Liquid security such as NSCs, KVPs, Life Policies, Govt. Bonds, shares, etc. invested ether for taxation or for any other purpose can be offered as security and avail the loan.

Eligibility : The applicant should be an individual pursuing any profession.

Income : Applicant should have sufficient income to repay the Loan with Interest.

Loan Amount :

In case of Overdraft against shares of reputed companies, Max. Amount of loan is Rs. 10.00 lakh.

In case of other securities such as Govt. securities a, NSCs, Life policies, etc. there is no limit for advance

Margin :

In case of Demat shares - 50 %

In case of L.I.C. Policies – 15% of Surrender Value

In case of other securities – 25%

Security : Pledge / Assignment of the Liquid Securities.

Guarantee : Not Applicable.

Period of Loan : Till the maturity of security or maximum period of 5 years in case of Term Loans whichever is lowest.

Rate of Interest : It is linked with PLR of the Bank.

Incase of Shares and Units of Mutual funds - PLR + 2% i.e. 15.50% p.a.

For Overdraft - 13.50% p.a.

For Term Load - 12.50% p.a.

Service Charges : 0.5% of loan amount  + Service Tax + Education Cess as applicable.

Commercial vehicles are used for transporting men and materials and hence a part of business activities. Bus, Trucks, Tempos, Jeeps, Tippers, Vans, JCB Loaders, etc are the various vehicles used in the business.

Eligibility : Any individuals who have a valid driving license or permit and reasonable experience in the line of business can approach the Bank for finance for purchase of commercial vehicle.

Income : Applicant The Debt Service Coverage Ratio should not be less than 1.5:1. In other words, the internal accrual should be 1.5 times more than the outgo on account installments and interest of the loan taken.

Loan Amount : The loan amount covers the cost of the vehicle as per invoice, registration and one time tax and body building in case of new vehicle and agreement value or market value whichever is lower in case of second hand vehicle after maintaining the prescribed margin, subject to maintaining sufficient margin, as prescribed by the Bank from time to time.

90% of Chassis

75% if Chassis + Body Build (From Dealer)

Second Hand Vehicle- 50% of Market Value

Margin : As mentioned above.

Security : Hypothecation of the vehicle to be purchased.

Guarantee : Two solvent third parties.

Period of Loan : Maximum period of loan is 60 months in case of new vehicles and 3 years in case of second hand vehicles. Loan amount should be repaid in EMI

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is 14.50% (PLR + 1%)

The concession in ROI will be given as per Credit Rating.

Collateral Security: No Collateral Security for loan amount upto Rs 15.00 lacs

Service Charges : 0.50% of the loan amount + Service Tax + Education Cess as applicable.

Purpose :

- Purchase of Residential accommodation like flats, bungalows, row houses, etc.

- Construction of flat / house, bungalows, etc.

- Addition / Alteration to the existing Residential accommodation.

Period : The prepayment period may be ranging from 60 months to 180 months.

Margin : 15% (on agreement Value + Stamp Duty + Registration Fees + Amenities in Flat if agreement for the same is registered )

Eligibility : Housing Loan can be availed by individuals, self employed, business man and professionals who desire to purchase house/flat and has regular income to repay the loan.

Loan Amount : The loan amount depends on the repaying capacity of the person. The maximum amount of loan is Rs. 50 lakh per beneficiary of a dwelling unit.

Disbursement of Loan Amount : Loan amount will be disbursed to the seller / builder of the house/flat. In case of flat/house under construction from reputed Builders, amount will be disbursed in stages depending on the progress of construction.

Rate of Interest :

- Interest is calculated on daily products.

- Interest is charged on monthly basis.

- Interest rate is linked to Prime Lending Rate (PLR)

- If desired by the borrower Fixed Rate of Interest is applied, for first 5 years and thereafter automatically converted to Floating Rate.

a) For Loans upto Rs. 5.00 Lacs = 10.50 % (Floating)

b) For Loans above Rs. 5.00 Lacs = 11.00 % (Floating)

c) Fixed Cum Floating for all categories = 13.50 % (Fixed for 5 years and thereafter Floating Rate applicable at that time)

0.50% Concession on Floating rate of interest for maintaining 30% margin OR Salaried Person offering Direct Deduction

Service Charges :

Upfront processing charges

 a) 0.25 % for Loans upto Rs.5.00 Lacs (Max Rs. 1,250/-)
 b) 0.50 % for Loans above Rs.5.00 Lacs upto Rs. 25.00 Lacs (Max . Rs. 12,000/-)
 c) 0.50% for Loans above Rs.25.00 Lacs (Max Rs. 20,000/-)

Legal & Valuation Charges at actual (No Legal & Valuation for Loans upto Rs. 5.00 Lacs)

Search Report charges wherever applicable

Security :

Prime : Flat / house proposed to be purchased

Collateral : Not insisted upon

Guarantors : 1. No Guarantor if co-owners are co-applicants
                   2. If Spouse / Parent is not co-owner of the property then, Spouse / Parent should be                       Guarantor irrespective of his / her income.
                      Parent would mean both Father & Mother and in absence of Father, only Mother                       should be Guarantor and vice versa.

 Some times, the borrowers need finance instantaneously and banks take time to process the loan and disburse the loan after documentation. In order to overcome this difficulty, the Bank lends money against the immovable property in the form of Mortgage Loan.

Eligibility : Any persons such as individuals, professionals, self employed and businessmen and industrialists They may be individuals, proprietary Concerns, Partnership Firms, Joint Stock Companies, etc.

Income : The income of the person should such that he is in a position to repay the amount within the stipulated period. In other words, the Debt Service Coverage Ratio should not be less than 1.5: 1

Loan Amount :

- 45 times of the take home salary in case of salaried persons.

- 3.5 times of the annual income as per the Income Tax Returns.

Margin : 50% of the value assessed by Bank's approved Architect / Valuer.

Security : Mortgage of immovable property

Guarantee : One or two solvent third parties.

Period of Loan :

- For salaried person  - 10 years

- For others - 7 years

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is as under:

14.50% - PLR + 1% -  up to Rs. 5.00 lakh. for businessmen and salaries persons

15.50% - PLR + 2% -  for loan  above Rs. 5.00 lakh.

Concession in rate of interest to the extent of 1% is given to A rated customers.

Service Charges : 0.50% of the loan amount + Service Tax + Education Cess as applicable.

Industrialists and small entrepreneurs need finance for setting up plant & machineries, equipments, other movables such as furniture and fixtures, office equipments, etc. Punjab and Maharashtra Co op. Bank Ltd. is eager to help them in their dream activities.

Eligibility : Any persons such as individuals, professionals, self employed and businessmen and industrialists They may be individuals, proprietary Concerns, Partnership Firms, Joint Stock Companies, etc.

Income : The income of the person should such that he is in a position to repay the amount within the stipulated period. In other words, the Debt Service Coverage Ratio should not be less than 1.5: 1

Loan Amount : The loan amount covers the cost of the plant & machinery or movables as per invoice in case of new vehicle ones and agreement value or market value whichever is lower in case of second hand machineries after maintaining the prescribed margin.

Margin :

25 - 30% : In case of new machineries.

50% : In case of second hand.

Security : Hypothecation of plant & machinery or movables to be purchased

Guarantee : Two solvent third parties.

Period of Loan : Maximum period of loan is 60 months in case of new plant & machinery or movables and 3 years in case of second hand. It should be repaid in EMI.

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is PLR + 4% i.e.17.50% Concession in rate of interest is given to as per Credit Rating.

Service Charges : 0.50% of the loan amount + service Tax + Education Cess as applicable.

The Bank provides fiancé to the business community for working capital needs in the form of cash credit. The working capital is required by them for the meeting the expenses of manufacturing, selling and administration. This becomes handy not only for the industrialists and small entrepreneurs but also to the traders, professionals and self employed persons. Financing working capital is the most popular way lending.

Eligibility : Any persons such as individuals, professionals, self employed, industrialists, traders and businessmen and industrialists They may be individuals, proprietary Concerns, Partnership Firms, Joint Stock Companies, etc.

Income : It depends on the capacity to service the debt and also on limit of advance.

Loan Amount : Depends on the business turnover and also per party limit fixed by the Bank from time to time.

Margin :

25% : Against Raw Materials

25% : Against Book Debts

Security :

Hypothecation of stocks and book debts.

Collateral securities of tangibles if needed.

Guarantee : Two solvent third parties.

Period of Loan : The loan is payable on demand. It is subject to annual review.

Rate of Interest : ROI is linked with the PLR of the Bank. At present, it is PLR + 4% i.e. 17.50% p.a.

Concession in rate of interest is given as per credit Rating.

Service Charges : As per bank Slab

Education loan is granted for higher studies in colleges in India and abroad in any educational field in college affiliated with recognized universities, medical colleges, technical institutions, pharmaceutical colleges, Information Technology etc, so that students from poor & middle classes as well as brilliant and needy students can take advantages of the scheme. [The scheme will not cover any correspondence course].

Eligibility : Any persons such as individuals, professionals, self employed, industrialists, traders and businessmen and industrialists They may be individuals, proprietary Concerns, Partnership Firms, Joint Stock Companies, etc.

Income : It depends on the capacity to service the debt and also on limit of advance.

Loan Amount : Depends on the business turnover and also per party limit fixed by the Bank from time to time.

1	WHO WILL BE APPLICANT	If student is minor, Parents / Guardian will be applicant/s. In case of a major, student will be the applicant for the loan.
2	CO-APPLICANT	Parents/ Guardian of the student will be the Co-applicant. In case of married Student, either Spouse or the Parent(s) / Parents-in-law can be the co-applicant.
3	PURPOSE	Inland- Diploma / Graduation / Post-graduation in various streams in colleges affiliated with recognized Universities, medical Colleges, Technical Institution, Pharmaceutical Colleges, Institutions for Information Technologies etc. For Computer Certificate Courses in reputed Institutes (Part Time or Full Time) approved by the Bank from Time to Time. Foreign- For Higher Education Abroad in any Faculty in colleges affiliated with recognized Universities, Medical Colleges, Technical Institution, Pharmaceutical Colleges, Institutions for Information Technologies etc.  The Scheme will not cover any correspondence course.
4	LOAN AMOUNT	Inland Minimum Rs.10000/- & Maximum Rs. 10.00 lacs Foreign Minimum - Rs.50000/-.
5	MARGIN	INLAND - 10% on Total Expenditure* FOREIGN - 15% on Total Expenditure* (Scholarship should be included in the margin) NO MARGIN: a) For loan amount upto Rs. 2 Lakhs b) If 100% Collateral Security is offered in the form of immovable property or Liquid Security. *Total Expenditure includes Tuition fees, Term fees, Living Expenses, Travelling, Cost of Books, Examination fees, etc.
6	RATE OF INTEREST	12.50% p.a. (subject to 0.50% concession in rate of Interest to “A” rated customer). ***
7	REPAYMENT PERIOD	If course period is less than 3 Years - 84 Months (inclusive of total moratorium period) If course period is more than 3 years - 120 months (inclusive of total moratorium period).
8	MORATORIUM PERIOD	Course period + 6 months (No moratorium period for Loan amount below Rs.1.00 lacs).
9	PENAL INTEREST	2 % p.a.
10	COLLATERAL SECURITY	i)Loan Amount Upto Rs.2.00 Lakhs - No Collateral Security. ii)Loan Amount Upto Rs.5.00 Lakhs -Tangible Securities (Bank’s FDR’s, Govt. Securities etc) or Movable Security (Vehicle) or Immovable Property- Minimum 60%. iii)Above Rs.5.00 Lakhs – Tangible Securities (Bank’s FDR’s, Govt. Securities etc) or Movable Security (Vehicle) or Immovable Property- Minimum 100%.
11	SERVICE CHARGES	0.50 % on Sanctioned Loan amount Subject to maximum of Rs.7500/- (plus Service Tax + Education Cess, as applicable).
12	SURETIES	1. Two Guarantors. 2. In case where there is 100% Collateral Security in the form of Immovable Property or Liquid Security, No Guarantor required.
13	INSURANCE OF STUDENT	Life Insurance Policy of student in case of (Foreign Education) should be obtained. Such policy should be assigned in favour of Bank.
14	INSURANCE OF SECURITIES	Insurance of securities against risks of Fire, riots, etc., in name of Bank a/c borrower should be obtained (in case of Vehicle & Immovable Security).
15	SHARE LINKAGE	5% of the sanctioned amount in case of Unsecured Loan upto Rs.2.00 lacs & 2.5% of the sanctioned amount in case of Secured Loan.

*** RATING CRITERIA:

To avail the benefit of concession of 0.5% concession in rate of Interest ("A" Rating), applicant/s should fulfill any two out of the following three rating criteria.

Sr. No.		Rating Criteria
1	Banking Relationship	2 years & above
2	Membership	Existing - Since 2 Years & above.
3	Collateral Security	Security in the form of immoveable security - more than 125% of the loan amount.

Basic Requirements:

1.  Admission Letter.
2.  Mark Sheet / Certificate for passing last Board / University examination.
3.  Students going abroad for study will have to submit the necessary documents such as copy of      Passport, copy of Admission Letter, copy of Form I-20 (for U.S), Visa, etc.
4.  Applicant should produce year-wise estimated total expenditure which is to be incurred such as      Tuition Fees, Term Fees, Living Expenses, Traveling, Cost of Books, Examination Fees, etc.
     Hypothecation of stocks and book debts.
5.  Progress Report of the studies of the student from time to time.
6.  Disbursement of loan will be made at stages during the duration of the course of the study as      per the requirement as mentioned in the schedule of year wise estimated expenditure.
7.  Any scholarship received during the course of study must be intimated to the bank and as far as      possible such amount received should be adjusted in loan account.
8.  If study is discontinued for whatsoever reason, Bank must be informed and loan amount must      be paid immediately.
9.  All other documents and information to be provided as per checklist provided with the      Application Form.
10. The loan documents should be executed by both the student and the Parent / Guardian as      Co-applicant.