Multipurpose Business Loan (Mortgage) Scheme

Bank	Punjab and Sind Bank
Scheme	Multipurpose Business Loan (Mortgage) Scheme
Description	Overdraft/Cash Credit / Term Loan / B.G. / L.C etc.
Eligibility	Retail Traders / Wholesale Traders, Contractors, Professional, self employed and Small and Medium Business Enterprises (SSI/ SMEs) Manufacturing Concerns.
Rate of Interest & Repayment	As per general advances rate of interest chart. Hypothecation of assets (stocks, receivables, work in progress, plant & machinery etc) as applicable. Equitable/registered mortgage of land and building free from any encumbrances in the name of borrower/ partner / director. Advance against third party property can be allowed if the property is in the name of close blood relatives (Major children, spouse, father, mother, brother, sister of the borrower viz proprietor, partner, director) subject to the condition that guarantee of owner(s) / Co-owners of the property shall be mandatory.
Collateral
Composite /loan Limit	Maximum Rs.200 lac & Minimum of Rs.1 lac (GM (A), ZMs Delhi I, II & III authorized to sanction upto Max. Limit Rs 500 lac ) For newly established activity / ventures — Rs.50 lac
Margin	Funded facilities are to be allowed maximum upto 65% of the realizable value of immoveable property for fresh cases. In cases of renewal, where revaluation of property is not due, funded facilities can be continued maximum upto 75% of the realizable value of immoveable property.
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