Punjab under the British especially after annexation in 1849 witnessed a period of rapid development giving rise to a new educated class fired with a desire for freedom from the yoke of slavery. Amongst the cherished desires of this new class was also an overriding ambition to start a Swadeshi Bank with Indian Capital and management representing all sections of the Indian community
We will work as a team for the benefit of customers.
We will incorporate innovation to drive business.
We will be objective in decision making.
We will always be willing to learn and embrace change.
We will adopt ethical practices to develop a culture of trust.
Objective is To make available Financial Assistance to the salaried for their personal needs. and To make available Financial Assistance to self-employed for their personal needs.
The main purpose is To meet all types of personal needs (e.g., for medical treatment of self or a family member, marriage of self, son/daughter, defraying expenses on education of wards, expenses for domestic or foreign travel etc.)
Eligibility
i. Drawing salary from our Bank:
All Confirmed/ permanent employees of Central/ State Govt./ PSUs minimum 2 years of service, including service with the previous employer(s), if any, all reputed* companies/Institutions including Schools, Colleges, Universities, autonomous bodies, Hospitals,/Nursing Homes who are drawing their salary through accounts maintained with our branches.
ii. Check-off facility:
Others minimum 3 years of service, including service with the previous employer(s), if any.
Quantum Of Finance
Up to 24 times of Gross Monthly Salary with a maximum of Rs.20.00 Lakh depending upon the repaying capacity. And 10 times of average Gross monthly income of last two years with a maximum of Rs.5.00 Lakh
Term Loan:
The entire loan (principal & interest) shall be repaid within remaining period of service or in maximum 72 (Seventy-Two) equated monthly installments (EMIs) whichever is earlier. Repayment to start one month after disbursement of the loan.
Overdraft:
The Overdraft Limit shall be adjusted within remaining period of service or in maximum period of 72 months by reducing Drawing Power (DP) equivalent to EMI amount at the beginning of every month.
Personal loans allowed to Defence Personnel including officials of Military Station Headquarters, Border Security Force, Central Reserve Police Force, Central Industrial Security Force, Indo Tibet Border Police etc. shall be Repayable in maximum 60 equated monthly installments.
Above are only salient features of the scheme. For details please contact nearest branch
Loan amount will also depend on maximum permissible deduction permitted under the scheme.
The scheme is applicable in Metro and Urban branches (initially in metro Branches only) only.
Vehicle Loans
To offer hassle free vehicle loan to existing Home Loan Borrowers
Purchase of car/ two wheeler for personal use.
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Eligibility
All existing home loan borrower accounts where the loan has run for minimum 3 years (excluding moratorium period) without a single default in EMI.
Age Of Applicant
As per Scheme for Financing Purchase of Car by Public Click Here.
Type Of Facility
Insurance
Assessment Of Limit 90% of On road price of Car/ two wheeler, Maximum Rs. 10 lacs
Special Features
No pre-sanction/ Fresh Income proof required.
Maximum Repayment Period
Four Wheelers : 100 months
Two Wheelers. : 84 months
Visit the official webiste to apply loan “CLICK HERE“
Visit the latest officiel website “CLICK HERE“
You will find the complete information regarding Age limit, Eligibility Criteria, Selection Process, Exam Pattern, cut-off, No.of Vacancies, PayScale.
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