# # #

PSB Mortgage

Purpose This is an all purpose credit facility i.e. to meet legitimate need based expenses viz- marriage /medical /educational expenses / repairs / renovation / extension to the residence / commercial property/ purchase of consumer durables or any unforeseen expenses, and also for investment in business, to meet credit needs of trade, commercial activities, other bona fide requirements of business/ profession
  • Business Concerns (MSME) & Salaried Individuals who are income tax assesses;
  • Partnership firms, Proprietary firms, Companies (Pvt./Public Ltd.), HUFs, Trusts, Societies, NRIs (subject to compliance of guidelines of Bank & RBI)
  • Age limit: Min 18 yrs, Max 65 yrs and owning residential/ commercial property.
  • Credit facility against agricultural property is strictly not permitted. Credit facility shall not be permitted against security of immovable property wherein Educational/ Religious Institutions are located. Vacant land may preferably be not taken as security under the scheme.
  • In case of Firms/Companies & Trusts, credit facility may be considered against the property owned by Partner/Director/Trustee
  • The property of following close relatives may be considered subject to becoming of their co-borrower in the facility
Spouse Father Mother Son Son’s Wife
Daughter Daughter’s Husband Brother Brother’s Wife Sister
Sister’s Husband Spouse’s Brother Spouse’s Sister Spouse’s Mother Spouse’s Father
Quantum of Finance Minimum: Rs 5 lacs  Maximum Rs.500 lacs,  (With deviations maximum finance can be upto Rs 1000 lacs)
Quantum of Finance is subject to For salaried persons: Maximum 10 times of average net annual income based on salary slip (last 12 months)/ latest Form No.16 or ITR.

For others: Maximum 10 times of average net annual income based on ITR for last 3 Financial Years.
  • MPBF is subject to maximum of 50% of realizable value of immovable property.
  • Security in the form of NSCs (Margin 25%) /Bank’s Own Deposits (Margin 10%) /LIC Policies (Margin 10%) may be taken to supplement the overall security requirements.
  • The income of the spouse / major sons may be added if he/she is a co-borrower.
  • In case of Firms/ Companies/ Trusts/ HUF, Partners/ Directors/ Trustees/ Co-parceners with regular & independent income may join as co-borrower to supplement repayment capacity.
  • Cash accruals/ Depreciation may also be added to income, in case of borrowers other than salaried class.
Rate of Interest Term Loan facilities (For MSME): 1 year MCLR + 2.50% 
Term Loan facilities (for others): 1 year MCLR + 2.75% 
Overdraft facilities (For MSME): 1 year MCLR + 2.25% 
Note: For loan/limit above Rs 500 lacs, applicable rate of interest shall be 50 bps over the above mentioned rates.
Processing Charges:  For Term Loan:  @1% of the loan amount with Minimum of Rs.2000/-
For Overdraft Facility: @ 0.50% of limit sanctioned and to be collected on sanction and at the time of renewal every year.

Concessions during Festival Bonanza Scheme from 21.09.2017 to 31.03.2018: For TL facilities: Concession of 50% on the applicable processing charges , For Overdraft facilities: Concession of 50% on the applicable processing charges on the limit sanctioned at the time of sanction only. However, the normal processing charges (i.e. without the above said concession) shall be applicable at the time of renewal every year

Repayment For Term Loan: Maximum 10 years
For Overdraft Facility: Repayable on demand. The limit once sanctioned will hold good for 3 years.
The overdraft facility is not allowed for salaried class borrowers.
Guarantee Not Mandatory
Concession in ROI for MSMEs Only
  • Concession of 0.25% in RoI for cases, where external credit rating is 1 to 4 by SMERA, ICRA, ONICRA or CRISIL
  • Concession of 0.25% in RoI if account is classified under Priority Sector Advances. 
For Hot Listing (Blocking)
ATM/Rupay Cards
(By SMS) 9223815844
For Debit Freeze Account
(By SMS) 8828837411
For Phone Banking Services
(Call) 1800-22-1908
For Balance Enquiry
(By Missed Call) 7039035156 (Toll Free)
All India Toll Free 1800-419-8300