Azadi Ka Amrit Mahotsav
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Azadi Ka Amrit Mahotsav

punjab and sindh bank

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PSB Contractor Plus

  2. PSB Contractor Plus
CONTRACTOR PLUS
Purpose

a) Working capital: Fund Based & NFB facilities limits to meet day to day requirement / materials / labour payment / statutory payments.

b) Term Loan: For purchase of Plant & Machinery / Equipment / Transport Vehicles to be used for the execution of contract work.

c) Bank Guarantee: For bidding of tenders, mobilization of advance money, performance of the contract, guarantee in favour of Central / State Govt & its various departments and reputed Pvt. / Ltd. companies, guarantee for release of retention money.
Eligibility MSME units engaged in the Contractor / Subcontractor activity.

Sub-contractors executing work on behalf of main contractors are also eligible under this provided sub letting is through registered agreement and all required permission and licenses / registration are available.

Borrowers can be Individuals / Sole Proprietorship / Partnership firm / HUF / Joint Venture / Joint Stock Company or any other entity engaged in this line of activity.
Nature of Credit facility Working Capital facility: Overdraft against property (ODP).
Term Loan
Non Fund: Bank guarantee
Security

ODP: Equitable mortgage of immovable property. 80% of the realizable value of the property mortgaged.

Term Loan: Hypothecation charge on asset created out of term loan.

BG: Counter guarantee of borrower.
Repayment ODP: On demand.
Term Loan: Repayment in maximum upto 10 years.
BG: Tenor of BG not to exceed 10 years.
Processing charges

For Term Loan / Working Capital Term Loan: @1% of the loan amount with minimum of Rs. 2000/-.

For Overdraft Facility / BG: @0.50% of limit at the time of sanction and renewal every year.
PSB FLEXI TERM LOAN
Type of facility PSB Flexi Term Loan is a pre-approved term loan, bundled with PSB Contractor Plus, with an aim to provide term loan assistance to contractors in a smooth and hassle free manner.
Eligibility All MSME credit constituents having satisfactory credit history of minimum 1 year with bank and having working capital facility backed by property as primary or collateral.

PSB flexi term loan will be sanctioned with working capital limit under PSB Contractor Plus of Rs. 1.00 Crore and above.
Purpose Term loan for purchase of machinery, equipment, commercial vehicles, furniture & fixture.
Quantum of Finance Term loan of maximum 25% of the working capital limit.
Margin 25%
Repayment Period 5 years (60 EMI).
Processing Charges One time charges of 1.00% at the time of disbursement.
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