Punjab and Sind Bank
This bank is a government-owned bank, headquarters is in New Delhi. This Bank has 1554 branches spreading all over India, a maximum number of branches are in Punjab state i.e., 623. Bank has made a net profit of Rs. 121.35 cr and net NPA is 3.55% for the year ending 2014-15. Total business of the bank was Rs. 1,51,511 cr. for the year ending 2014-15 and Business per employee was Rs. 15.95 cr. The net worth of the bank as per dated on 31.03.15 is up to Rs. 4812 cr. On 24th June 1908 Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh made the establishment of Punjab & Sind Bank.
Punjab And Sind Bank Two Wheeler Loan
The bank services have expanded to meet all the financial needs of the customers including ATMs, internet banking, online banking, mobile banking, SMS banking and loans for various purposes. One of the best services that Punjab and Sind Bank offer is the two Wheeler Loan. The Two wheeler loan from the bank is meant for either new Two wheelers and used Two Wheelers. The Two wheelers should be used only for non-commercial use. It should also be registered as a private vehicle.
Features of Punjab And Sind Bank Two Wheeler Loan
- There is no maximum amount for both new and used two wheelers.
- There is no maximum number of vehicles that you can finance with a loan.
- If you need a new/used two wheeler for business concerns and Institutions (corporate or Noncorporate):
- If you are planning to repay within 3 years: You can borrow twice the average annual cash accruals i.e. PAT+ Dep. as per the last year balance sheet, P&L account.
- If you are planning to repay between 3 and 5 years: You can borrow thrice the average annual cash accruals i.e. PAT+ Dep. as per the last year balance sheet, P&L account.
- If you are planning to repay between 5 and 7 years: You can borrow up to 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).
- The Margin for New vehicles is 10% on, on-road price (excluding accessories and Ins.)
- The Margin for old vehicles is 25%
- Repayment for new vehicles: Maximum of 48 months.
- Repayment for old vehicles: Maximum of 60 months. This period is subject to the age of the vehicle. The total period of repayment plus the age of the vehicle must not exceed 84 months.
- For security, the bank will require Hypothecation of the vehicle.
Eligibility Criteria for Punjab and Sind Bike Loans
- Individuals and business concern are eligible for the two wheeler loan.
- Customer age between of 21 years and 65 years are eligible to apply for this loan
- Furthermore, the applicant should have a steady source of income.
- Completion of loan application
- 3 Passport size colored photographs
- Identify proof ( Voters ID card/ Passport/ Driving licence/ PAN card)
- Residence proof (photocopies of recent Telephone Bills/ Electricity Bill)
- Bank Statement for last six month
- Income Tax returns(ITR) for the three years for self-employed professionals