GIST OF RETAIL LENDING SCHEMES As On 10.09.2019 PDF

RETAIL LENDING SCHEMES AT A GLANCE (AS ON 10.09.2019) (COMPILED BY R. C.
JHA, CM, CO: PUNE)

Scheme Purpose & Eligibility Extent of Loan Repayment Period Margin, ROI & Security Other Imp. Guidelines (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
1. 1. ELIGIBILITY:-- Individuals & 2. EXTENT OF LOAN: 6. Repayment Period: {Upto the age of 10. Margin: 14. Net Monthly Max. Permissible
Joint owners (18-70 years). (By i) Construction/Addition/Purchase of house/ 70 years (CH & ab. may relax upto the Loan up to Rs 75 L: 20% Salary/Income Deduction of NMS/I
Housing
CH upto 75 Yr) flat: Need based. age of 75 years)} Loan above Rs 75 L: 25% Up to Rs.30000 40%
Loan ii) Land/Plot: Max. Rs. 50 L (By CH, upto - Construction/Purchase/Addition/built Land/Plot: 25% >Rs.30000- Rs.60000 50%
- Income of spouse and earning
children (whether married or up house or flat/land/plot: Max. 30 11. ROI – Floating >Rs.60000- Rs.100000 60%
Rs.100 L in Metro/ State Capital and by
unmarried) can be added for years (including moratorium Period) -Upto 75 L- MCLR+0.25% >Rs.100000 70%
5 variants ZOCAC Rs. 300 L at all centres & Rs. 500 L - Repairs/Renovation/Alteration: Max. = 8.55%
calculation of borrowers’ (Deductions—10% extra power by CH/COCAC)
at state capital & metro centres only in cases 15 years (including moratorium Period) -Above 75 L-
1. HL repaying capacity. where land/plots are allotted by State 15. Classification of housing loan under Priority
MCLR+0.30% = 8.60%
2. HL-OD - Income of joint owners of the Development authorities/ State Housing 7. Moratorium Period- (in months) sector:
(For Woman & PNB
3. GEN property may also be added for Boards); Purchase of House/Flat/Plot 3M HL to individuals up to Rs. 35 L in metropolitan
Pride: Rebate of 0.05%)
NEXT calculation of borrowers’ {For purchase of Land/plot:Max 60% of the Const./Addition of 18 M ROI – Fixed: centres (with population of 10 L & ab.) and HL up to
4. MAX repaying capacity. eligible loan amt} house/Flat Floating+0.50% Rs. 25 L in other centres for purchase/construction of
SAVER - Parents can also be made as Repair/renovation/alteration 6 M a dwelling unit per family, provided the overall cost
iii) Repair/Renovation/alteration:Max.25 L. 12. Security: EM/RM of
5. co borrower in cases where the Under construction Flat/ 36 M house/flat/plot. of the dwelling unit {(i) In case of Purchase of flat/
iv) Furnishing: 10 % of HL: Max. 25 L. House by approved private
FLEXIBLE property is in the single name 13. Upfront Fee- 0.35% built-up house: Document value of the flat/ built-up
3. PNB Pride: Housing & Car Loan Scheme builders
of Son/Daughter or in the joint of loan amt. Min Rs. house as per the sale deed. (ii) In case of
for permanent Employee of Central/State
name of Son and Daughter and 2500/-, Max-Rs.15000/-, Construction of house: Cost of construction (Land
Govt./Defence personnel & paramilitary 8. Loaning power: 1) Upto S-II—
(RAD: 74/ their income can also be Takeover of Loan: Rs. already owned)} in the metropolitan centre and at
forces:-- Rebate in ROI—0.05% and Full Normal TL Power i.e. 50% of secured
01.10.18- 2500/- (Excluding GST) other centres should not exceed Rs. 45 L and Rs. 30
clubbed for calculation of waiver of upfront/processing fees & FB power; 2) S-III(I/C) OR S-IV—
Ann-1) {Upfront fee: 10% on L, respectively. HL to banks’ own employees will be
borrowers’ repaying capacity. documentation Charges. 125% of TL power, if PNB score is less
receipt of Proposal. CM/CH excluded.
- Parents (including Father-in- than 60 and 150% of TL power, if & ab may relax the
4. SOLAR POWER SYSTEM: Loans for repairs to damaged dwelling units of
law and Mother-in-law) can PNB score is 60 & ab. condition. Min 50% at the
Loan Amount: Max. Rs. 5 L; families up to Rs 5 L in metropolitan centres and up
also be made as co-borrower, time of handing over letter
to Rs 2 L in other centres.
Margin: 20/25%, 9. Note:--If plot/land is sold or of sanction. Balance 50% at
where property is in the joint account has been closed without The loans sanctioned for housing projects exclusively
ROI: MCLR + 2.10% =10.40% the time of disbursement.}
name of Son & Daughter-in-law construction both within 5 years for the purpose of construction of houses for EWS &
Repayment Period: Max 30 Yr or age 70 Yr Expression of Interest (In
or Daughter & Son-in-law and from date of first disbursement, Principle Sanction): LIG, the total cost of which does not exceed Rs 10 L
their income can also be (Where Mort. of house available);
rate of interest applicable to Processing Fee @ 0.35% of per dwelling unit. For the purpose of identifying the
Max 36 Month, where mort. of prop. not
clubbed for calculation of Commercial Real Estate with the loan amt, Min 2,500/- & economically weaker sections and low income
available. Max- Rs. 15,000/-.
borrowers’ repaying capacity, corresponding PNB Score/Risk groups, the family income limit of Rs 3 L per annum
5. Documentation chg- Rs. 1350/- + GST To Refund if Rejection of HL
with the prior approval of the rating score will be charged from for any reason & claimed
for EWS and Rs 6 L per annum for LIG, irrespective of
Circle Head. Pre-payment charge: 2% on fixed rate HL, if the date of first disbursement of the location, is prescribed.
within 45 days.
borrower shifts HL to other banks/FIs. loan.
2. 1. ELIGIBILITY: -All HL borrowers– 3. EXTENT OF LOAN: 4. Account to be renewed annually. 5. Margin: - Max. Permissible Deduction of NMS/I --- Same as HL
new/existing/takeover cases. Minimum: Rs. 50,000/- - If intt is not serviced within 7 days of 20% - Upto 75L -Upfront fee – NIL, - Doc. chg– Rs.450/- + GST
HL-OD the close of the month:-- Penal intt @
(except for purchase of plot/ 25% - Ab. 75 L - Scheme Code: ODPRH; - Intt. Table Code- ODPUM
under construction houses/ flats)
Maximum: Rs. 25 Lac. 2% over on the amt of default and for 6. ROI: MCLR+1.40% = - Enhancement of the existing OD limit within overall ceiling
(RAD: 74/ the period of default.
(No IR irregularity should be o/s) [80% of current RV of house, for loan 9.70% of Rs 25 Lacs may be permitted only in such cases where
01.10.18- - If intt is not serviced consecutively
2. Loaning Power: Small- NIL, amount Upto Rs. 75 Lac & 7. Security: Extension of the Housing loan is still continuing and not in case where
Ann-5) for two months, Bank may consider
Med -- 15 L, Large – 25 L, 75% of current RV of house, for Loan existing EM/RM. Housing Loan has been adjusted.
recalling the OD including HL.
CM & ab.- 25 L (borrower wise) amount above Rs.75Lac]
3. 1. Objective: Providing housing 4. Extent of Loan: 1.25 times of the loan amt 6. Repayment Period: Flat 30 years 7. Margin: - ROI, processing fee & Documentation charges: As per
finance to Gen-Next salaried class calculated as per the regular HL method Moratorium Period: Loan up to Rs 75 lac- Regular Housing Finance Scheme.
PNB
Borrowers (IT Professionals, subject to maintenance of prescribed LTV Under construction flats of approved 20% - Term insurance of at-least equal to loan amount be
GEN- PSBs/PSUs/ Govt. Employees). ratio. Pvt. Builders: Upto 36 months plus Loan above Rs 75 lac- mandatorily obtained. Cost of premium may be financed at
NEXT 2. Purpose: For Construction/ Min Loan Amt: Rs 20 Lac. remaining period of possession subject 25% the option of the borrower(s).
{HL to purchase of ready to move in Max Loan Amt: Need Based. to max. 60 months. Purchase of Land/ Plot – - Powers vested with Circle Head/COCAC and ab. to allow
house/flat; For purchase of under Min. Net Mly Salary: Rs. 35000/- In other cases: Max. 36 months. 25% 10% higher deductions of Net Monthly salary under regular
YOUNG
construction flat of approved 5. Age of Borrr: Upto the age of 40 yr. (Intt. To be serviced as & when levied) Housing finance scheme have been withdrawn under “PNB
GENER private builder; Other borrower whose income has been Period Monthly Repayment 8. ROI: SAME AS HL Gen-Next Housing Finance Scheme”, as Bank is allowing
ATION} 3. Occupation: All salaried taken for arriving loan eligibility—Max upto During Morat. Only intt. 1.25 times the loan amount calculated as per the regular
employees with min 3 yr the age of 45 yr. Next 120 M EMI for 360 months 9. Security- EM/RM of housing loan method.
(RAD: 74/ experience and Co-borrower will Where income of co-borrower has not Remaining EMI of Loan o/s house/ flat/ plot - Scheme Code: HLGEN
01.10.18- also be salaried class. been taken for arriving loan eligibility and Period during Remaining purchased. - Net Monthly salary = Gross Salary – Statutory Deductions,
Ann-2) they are co-owner—No Age bar. period such as Income Tax, PF etc.
RETAIL LENDING SCHEMES AT A GLANCE (AS ON 10.09.2019) (COMPILED BY R. C. JHA, CM, CO: PUNE)
Scheme Purpose & Eligibility Extent of Loan Repayment Period Margin, ROI & Other Imp. Guidelines
Security (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
4. 1. OBJECTIVE: To offer attractive variant to 4. NATURE OF FACILITY: Term 6. Repayment: -TL - As per HL Scheme 7. Margin: Same as - OD drawing limit will be enhanced on regular
the customer, Scheme has allowed Loan – 80% and overdraft -- - OD component: For borrower – HL basis at yearly intervals.
HL-OD -The enhancement in OD drawing limit be allowed
borrower, the advantage of substantial 20%, ensuring margin of Below 55 yr – Servicing of intt as and
option savings on the intt component by facility to 20%/25%.
8. ROI: Same as HL upto the extent of reduction in TL amount.
--“PNB when charged upto age of 55 yr. & HL-OD - The first such revision of OD drawing limit facility
deposit his surplus funds in the OD A/C & be allowed, after a period of 03 yr and thereafter
55 yr & ab.- On monthly reducing DP
Flexibl withdraw the same at his/her choice upto 5. EXTENT OF LOAN: Borrower 9. Upfront Fee/Proc on yearly basis, at the request of the borrower
the extent of OD limit. shall be entitled to 20% Max. Upto the age of 65 yr. Fee/Doc charges:
e only.
increase in the original total Same as HL. - Aggregate of limits under TL & OD components
Housin 2. ELIGIBILITY: Customers below the age of
limit sanctioned after a lapse of shall not exceed the original total limit sanctioned
g Loan 50 yr. (The existing HL borrower be allowed for the first 05 yr.
5 yr.
the benefit if their HL A/C is regular & no IR - OD limit can be enhanced max upto 50% of the
Repayment: The borrower shall be required to service the intt component only on the OD facility.
(RAD: 74/ irregularity is o/s). loan amt sanctioned.
01.10.18-
- The EMI shall comprise of EMI calculated on TL component + intt on OD component. -Borrower will be allowed to deposit his surplus
Ann-4) 3. PURPOSE: Loan be allowed for all - On customers attaining the age of 55 years the OD facility shall be allowed on monthly reducing funds in the OD A/C, and withdraw the same at his
purposes, except for purchase of land/plot. DP basis, with reduction commencing from the month following the month when the customer choice upto the extent of the OD limit.
- The earlier loan may be adjusted through
attains the age of 55 years so as to ensure that whole of the OD limit, including TL limit, is adjusted proceeds of loan sanctioned under this variant.
by the age of 70 years. CH & ab. may relax repayment period upto the age of 75 years.
5. 1. OBJECTIVE: To attract housing loan borrowers 4. EXTENT OF LOAN: 5. REPAYMENT: As 6. RATE OF INTEREST: (Under floating option only) - All other terms and condition will be as per
especially high income group who prefer to park Overdraft on monthly per existing HL the existing Housing Finance Scheme for
Housing Loan Amt up to Loan Amt ab
their excess funds in loan account for interest reducing Drawing Power scheme to Public. Public.
Finance benefit in order to increase Housing Loans. Rs. 75 L Rs. 75 L
(DP) basis:-- Drawing Power on Women/ 1Year MCLR + 1Year MCLR +
Scheme 2. PURPOSE: Loan under this variant be allowed
for all purposes, which have been specified under Minimum – Rs. 10 Lac the OD will be PNB PRIDE 0.35% =8.65% 0.40% =8.70% - Conversion Charges:
For reduced on monthly
HL scheme (except Housing Loan for Purchase of Others 1Year MCLR + 1Year MCLR + i) If customer has paid Upfront Fees &
Public Maximum – Need based basis to the extent
only land/plot which is not permitted under this 0.40% =8.70% 0.45% =8.75% Documentation Charges at the time of
“PNB (as per HL Scheme for of the principal
scheme). - Concession available to borrower covered under availing HL: Rs 2500/- + GST
Public) component of the
MAX- 3. ELIGIBILITY: i) Prospective borrower: As per ii) If customer has not paid Upfront Fees &
our existing housing loan scheme. EMI so that the PNB PRIDE will be available to borrowers availing
SAVER overdraft is Documentation Charges at the time of
ii) Existing borrower: Where complete In respect of existing Housing Loan under PNB MAX SAVER scheme.
(TL/OD) liquidated at the end availing Housing Loan i.e. loan is sanctioned
disbursement has been made. (The existing Housing Loan borrowers, Hence, Service Charge: NIL, ROI: as above
of the loan tenure. under Bonanza Offers or charges have been
Housing Loan borrower are also eligible if their present outstanding of the
(RAD: 74/ waived by the competent Authority: Charges
HL A/C is running regular, no inspection loan amount be taken into
01.10.18- Interest will be as per extant guidelines applicable to HL.
irregularity is outstanding, complete consideration for
Ann-3) recovered as and
disbursement has been made and repayment has conversion of loan under
been started in the A/C subject to fulfillment of when levied.
this variant.
all terms and conditions of this variant.)
1. PURPOSE: For meeting Earnest Money 3. EXTENT OF LOAN: 5. Repayment: 6. Margin: NIL NATURE OF LOAN: Demand Loan.
6. Deposit (EMD) requirements to apply for 100% of EMD subject to To be adjusted
EMD allotment of Plot/Flat /House under the
Max Rs. 15 L. through refund 7. ROI: MCLR + 0.10% (Presently 8.40 %) Intt Table Code: EMDML
Schemes floated by State Housing Boards {Six months Intt on loan amt to be
Sche (SHB)/Urban Development Authorities
4. Loaning power: order /HL or Upfront fee & documentation charges: NIL
Incumbents of authorized through own recovered upfront on refundable basis for
me (UDA)/ Local Improvement Trusts. branches (by CH) after completed month.}
Sources in bullet - Individual loan accounts must be opened
entering into MOU/Letter of
(RAD: 91/ 2. ELIGIBILITY: Individuals, Joint Owners. Comfort with the State payment. for different applications under the EMD
8. SECURITY: The amount deposited with State scheme instead of opening of one a/c for
01.10.18) Housing Boards/Urban
Development Authorities/ Housing Board/ Urban Development group of borrowers.
Local Improvement Trusts. Authority/Local Improvement Trust.
GUARANTEE: NIL
Scheme Purpose & Eligibility Extent of Loan, Repayment Period, Other Imp. Guidelines
Margin, ROI & Security (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
7. 1. PURPOSE: Credit Linked Subsidy Scheme for EWS/LIG beneficiaries. Mission with all its component 4. Loan Amount: Max Rs 30 L. 9. SUBSIDY: Subsidy is available @6.50% for Max 20 years/ or
has become effective from the date 17.06.2015 and will be implemented upto 31.03.2022.
PMAY: [For purchase of new dwelling unit/ tenure of the loan, whichever is lower on loan amount upto
2. ELIGIBILITY: EWS/LIG individuals with Max. Gross family income of Rs 3.00 Lac (EWS) and Above construction/ addition of rooms, kitchen,
“PNB Rs. 6 Lac with maximum Subsidy amount will be Rs 267280/-
Rs 3.00 Lac & upto Rs 6.00 Lac (LIG). toilet etc.(for conversion from kutcha to
Hsg for Interest subsidy will be credited to loan account after receipt
- Affordable Housing through Credit Linked Subsidy: Interest subsidy for EWS and LIG for new house pucca house) for existing dwelling units.] of the same from NHB. Additional loans beyond Rs. 6 Lac, if
All”-- or incremental housing: a) EWS: Annual Household Income Up to Rs.3 L and house size with Disbursement of loan in maximum 4 any, will be at nonsubsidized rate. The Net present value of
Credit carpet area upto 30 sq.mt; & b) LIG: Annual Household Income above Rs.3 L and upto Rs.6 L installments. the interest subsidy will be calculated at a discounted rate of
Linked and house size with carpet area upto 60 sq.mt. 5. Repayment: Up to age of 70 years or 9%. Interest subsidy will be credited upfront to the loan
Subsidy 3. Beneficiary: The beneficiary family (comprise husband, wife and unmarried children) should not repayment period 30 years, including account of beneficiaries. For loans sanctioned upto
own a ‘pucca’ house (an all-weather dwelling unit) either in his/her name or in the name of any moratorium Period, whichever is earlier. Up 31.12.2016, interest subsidy would be available for maximum
Scheme member of his/her family in any part of India. An Affidavit to this effect is to be obtained. to age of 70 years or 30 years, including loan tenure of 15 years.
for EWS - House should be in the name of female member or in the joint name of male head & his wife, and moratorium period, whichever is earlier. -All PMAY-CLSS claims in respect of housing loans sanctioned
& LIG only in cases when there is no adult female member, the house can be in name of male member, is 6. ROI: As per HL to public scheme. on or after 26.12.2018 would require capturing the Aadhaar
(CLSS- applicable only for new purchases and not for new construction (on an existing piece of land) or for Women: MCLR+0.20%, Others: MCLR+0.25% number (or in its absence, the Aadhaar enrolment number,
enhancement/ repairs of an existing house. (Floating ROI only) which would need to be replaced with the Aadhaar number
EWS & - With effect from 27.06.2017, it is advised that: “An adult earning member (irrespective of marital 7. Margin: Loan up to Rs 20 L-10%, Loan ab within a reasonable period of time.
LIG) status) can be treated as a separate household; Provided that He/she does not own a pucca (an all Rs 20 L & upto Rs 30 L- 20%;
weather dwelling unit) house in his / her name in any part of India. Also in the case of a married (Cost. of stamp duty, registration etc. may 10. NMS/I Max. Ded. of NMS/I
(RAD:75/ couple, either of the spouses or both together in joint ownership will be eligible for a single house, be included for the purpose of calculating Up to Rs. 30000 40%
01.10.18, subject to income eligibility of the household under the Scheme.” LTV ratio in cases where the cost does not >Rs. 30000- Rs.50000 50%
04/30.01. - Now, As per RBDA: Cir No. 04/30.01.19, such person with pucca house having built-up area less exceed Rs.10 L) 11. Service Charges: - Doc Chg: NIL;
19) than 21 Sq. Mt may be included for enhancement of existing dwelling units upto 30 Sq. Mt. 8. Security: Equitable/registered mortgage - Proc Fee: HL upto 6 L- NIL, HL Ab 6 L-- Normal Proc Fee.
However, if enhancement is not possible on account of lack of availability of land/space or any other of the property as per the existing housing
reason She/He may get a house under PMAY (U) elsewhere. - Scheme Code- TLPHA; - Additional details in “ADPMAY’
loan scheme.
8. 1. Purpose: For acquisition/construction of house (including 4. Loan Amount: Need Based as per the existing 6. Security: Equitable/ registered mortgage of 9. Subsidy: Accounts opened on
PMAY: repurchase). {Loans for Repair/Renovation/Extension of housing loan scheme. the property as per the existing housing loan or after 01.01.17 under Scheme
existing dwelling unit are not eligible for subsidy under the 5. Maximum loan tenure: As per existing HL scheme. scheme. Code TLPHL & TLPHA and fulfilling
Credit But, subsidy will be available for a max period of 20 7. Rate of Interest: As per HL to public scheme. the criteria of CLSS - MIG are
scheme.}
Linked 2. Eligibility: Individuals from MIG category. Joint owners from years on Notional Basis. Loan for period beyond 20 Women: MCLR+0.20%, Others: MCLR+0.25% eligible for subsidy under CLSS.
Subsidy the same family are also eligible. The beneficiary family should years will be on non-subsidised rate. -Subsidy Credit: Interest Subsidy
(Floating ROI only) will be credited by the bank to
Scheme not own a pucca house either in his/her name or in the name Moratorium Period: As per HL scheme.
the borrower’s account upfront
for of any member of his/her family in any part of India AND not 8. Carpet Area: (Area enclosed within the on receipt of subsidy from the
Middle availed of central assistance under any housing scheme from Particulars MIG I MIG II walls, actual area to lay the carpet. This area nodal agency by deducting it from
Govt of India. Household Income Ab. 6 L Ab. 12 L does not include the thickness of the inner the principal loan amount of the
Income 3. Beneficiary: A beneficiary family will comprise husband, (Rs. p.a.)
Group upto upto walls) borrower. The borrower will pay
wife, unmarried sons and/or unmarried daughters. An adult - MIG – I – 160 Sq. m. - MIG –II – 200 Sq. m. EMI as per agreed document
(CLSS- earning member (irrespective of marital status) can be treated
12 L 18 L
Interest Subsidy (p.a.) Dwelling units with larger carpet area are not rates on the remainder of the
MIG) as a separate household; Provided that he/she does not own a 4% 3% principal loan amount.
eligible for subsidy under the scheme.
pucca house in his/her name in any part of India AND in the Maximum loan tenure 20 20 Credit Linked Subsidy: The
case of a married couple, either of the spouses or both (in years) Presently, Model for Housing Loan Borrowers subsidy will be available at the
together in joint ownership will be eligible for a single house, Eligible Housing Loan 9L 12 L under PNB Score is being used to score all new following rates:-- MIG-I = 4%
(RAD:76/ Amount for Interest
subject to income eligibility of the household. housing loan applicants irrespective of the loan (Loan upto Rs 9 L) Max -- Rs
01.10.18, Subsidy
- The scheme has been implemented initially in 2017 for a amount. In light of the special features and profile 235068.00
03/29.01. Carpet Area of
19) period of one year w.e.f. 01.01.17, upto 31.12.17. Now, the 160 200 of target borrowers, a new/separate variant MIG-II = 3% (Loan upto Rs 12
Dwelling Unit under PNB Score (named “Housing Loan for L) Max-- Rs 230156.00
time period has been extended by 15 months beyond the Sq. m. Sq. m.
Discount Rate for Net EWS/LIG under PMAY Scheme) has been created 10. Processing Fee & Doc
approved one year i.e. upto 31.03.19. 9% 9%
Present Value (NPV) for risk assessment in line with the scheme of Charges: Loan up to Rs. 9L in
- Now, As per RBDA: Cir No. 03/29.01.19, period of the
calculation of interest PMAY. MIG-I – NIL, Loan up to Rs. 12 L in
credit Linked Subsidy Scheme for MIG by one year i.e. upto
subsidy - Scheme Code- TLPHA MIG -II – NIL. Beyond above: As
31.03.2020. -Additional details to be filled in Menu option per HL scheme.
- All Statutory Towns as per Census 2011 and towns “ADPMAY’
notified subsequently will be eligible for coverage under
CLSS for MIG.
Scheme Purpose & Extent of Loan Repayment Period Margin, Security & ROI Other Imp. Guidelines
Eligibility (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
9. PNB Saraswati: PNB Saraswati: Repayment Period : - Upfront Fee – NIL for studies in India. 1% with Min. Rs
Margin:
For pursuing - Max. Rs.10 L for studies in PNB Saraswati, Pratibha, Udaan, 10,000/- for studies abroad (refundable)
Educati higher, India. Honhaar:-- 15 yr with moratorium
PNB Saraswati: Upto 4 Lac – NIL; Ab. 4 Lac – 5%. - Documentation charges upto Rs. 4 lac – Rs. 270/-+ GST;
PNB Udaan: Upto 4 Lac –NIL; Above 4 Lac – 15%.
on Loan professional and - CH: need based loans ab period = course period + 1 yr.
PNB Pratibha: (i) 118 Institutes at Annexure-E: NIL
and Over Rs. 4 lac - Rs. 450/- + GST. (Both Charges NIL for
technical these ceilings. PNB Kaushal:-- Kaushal)
For loans upto 50000/- --3yr; From ab (ii) 81 Institutes at Annexure-F: Upto 4L – NIL, Ab Rs. 4 L - - Reimbursement of fee available within 6 M from the
education in - BHs of SMG IV & ab are
(5 India, other than vested with the powers for 50000/- to Rs.1 Lac- 5 yr; For loans ab 1 5%; date of payment of fees on individual merits of the case.
schemes) Lac- 7 yr. Co obligation of Parents only. No Coll. Sec. - The expenses, which could be considered max upto
premier Institutes sanctioning education loan
Moratorium:--- For courses upto 1 year PNB Kaushal: Margin – NIL; 10% of the total tuition fees for the entire course:
PNB Udaan: For up to Rs.30 L for studies in
→ 6 M from the completion of the PNB Honhaar: Margin – NIL; Caution deposit, Building fund/refundable deposit
pursuing higher, India.
[RBDA: course. For courses ab 1 year→ 12 M [Scholarship/assistantship be included in margin. Margin supported by Institution bills/receipts.
professional and PNB Udaan:
CIR: from the completion of the courses. may be brought-in on year-to-year basis as and when - Lodging and boarding charges be considered if opted
technical - Max. Rs. 20 L for studies (BH may permit extension in morat upto disbursements are made on a pro-rata basis.] for outside accommodation. However, these charges
PNB education abroad. abroad. max 02 yr.
PNB Pratibha: ROI: should not exceed the charges stipulated by the
Saraswa For students
- CH: need based loans ab Note:
PNB Saraswati respective colleges.
these ceilings. 1. BM is empowered to permit
ti: getting admission - BHs of SMG IV & ab are extension in moratorium period up to
Loan up to Rs.7.50 L -- MCLR+2.00% = 10.30%; - The expenses (if not available in expenditure schedule
in 199 Premier Loan ab. Rs.7.50 L -- MCLR+2.60% = 10.90%; of college, which could be considered max upto 20% of
77/ vested with the powers for max 02 yr in deserving cases under
Institutes in India. Loans irrespective of amt (where 100% tangible coll. Sec. total tuition fees for the entire course: Purchase of
01.10.18 sanctioning education loan reporting to CH. books/equipments/instruments/ uniforms/Comp.
PNB Kaushal: up to Rs.40 L for studies and/or liquid sec. is available)-- MCLR+1.85% = 10.15 %;
2. Sanctioning Authority may consider - Concession for female students: 0.50% in ROI for o/s
For pursuing abroad. Children of Staff: MCLR+0.10% = 8.40%
extension of time for completion of upto 10 L & 0.25% for o/s ab. 10 L. {But, No concession
PNB Vocational PNB UDAAN: Loans irrespective of amount (where 100%
Education & PNB Pratibha: Max Rs. 35L course up to max period of 2 yr. tangible collateral security in the shape of IP and/or shall be available for loans extended to children of
Udaan: Training/ Skill (11 Inst)/25L (7 Inst)/20L (1 3. Sanctioning Authority may consider liquid security is available) OR Loan for pursuing PNB’s Employees where interest rate charged is MCLR+
77/ development Inst)/15L (99 Inst) (For Total telescoping of the repayment with education from premier foreign universities and 0.10%.}
01.10.18 courses of 118 Inst. in Ann-E)/10L (For stepped up installment with passage of educational institutes (200) under PNB Udaan (Annexure - Simple Intt. in Moratorium period.
duration of 2 81 Inst in Ann-F); Gr. TOTAL: time over the repayment period in G): MCLR+1.85% =10.15 %; - 1% Intt concession: servicing of intt during study
199 Inst. cases where salary levels at the start of period and regular repayment thereafter.
months to 3 Children of Staff: MCLR+0.10% = 8.40%
PNB (For PG Diploma in Management the career do not facilitate comfortable - Penal interest: Upto Rs. 25000/ - NIL and ab Rs.
years. PNB Pratibha: Loan up to Rs.7.50L under CGFSEL:
(B&FS) from NIBM, Pune--Max payment of EMI (e.g. professionals like 25000as applicable to Retail Adv presently 2% on the
Pratibha: PNB Honhaar: MCLR+0.60% = 8.90%; (For IIT/NIT/IIM—MCLR + 0.50%)
Students done amt of collateral free loan-- Rs.
Doctors). default/irregular portion.
77/ 12L ) 4. Existing Education Loan borrowers, Loan ab. Rs. 7.50 L under CGFSEL: MCLR+0.10% = 8.40%
class X and class XII - Revised Edu Loan Application Form: PNB 1218-A
01.10.18; from Delhi & wish PNB Kaushal: Rs.5000/- to with a repayment period upto 10 yr
(For IIT/NIT/IIM ---- MCLR= 8.30%) - Assignment of future income of the student for
to pursue diploma Rs.1.50 L may be extended upto 15 yr, by the PNB Kaushal: payment of installments to be taken in all the cases.
or degree level respective Sanctioning Authority and Loan upto Rs.1.50L (Covered under CGFSSD)–MCLR+1.50% - The loan documents should be executed by the
PNB courses or PNB Honhaar: Max. Rs.10 L same shall not be treated as = 9.80 %; Others— MCLR + 0.10% = 8.40%; student and the parent/guardian as joint-borrower.
Kaushal: specified skill (For Studies in Delhi) (Margin restructuring. Children of PNB’s Employees—MCLR + 0.50% = 8.80 %, However, Sanctioning Authority to consider joint-
development – NIL, No coll. Sec.; 5. Charges for change in terms & PNB Honhaar: Loan up to Rs. 10 L -- MCLR+2.00% = 10.30%
78/ borrower (other than parent/ guardian acceptable to
courses in Delhi Parent/legal guardian to be conditions of sanction: 0.02% of loan Security (PNB Saraswati, Udaan) the Bank), in case of adverse credit history of the
01.10.18 only are eligible. joint borrower) amount (Min Rs.1,000/-, Max Rs. 5 L). i) Up to Rs. 4 L: Parent(s)/guardian be made joint borrower parent/ guardian of the student borrower.
SECURITY (PNB Pratibha): i. Co-obligation of parents/guardian as joint co-borrowers. (s). No Security. - Life Insurance policy: Optional ‘Met Loan & Life
PNB However, the sanctioning authority may consider waiver of obtaining co- obligation of ii) Above Rs. 4 L and upto Rs. 7.50 L: Besides the Suraksha’.
parents/guardian as joint co borrowers while considering loans for PGPMAX Course pursued at parent(s)/guardian, collateral security in the form of -Disposal of Application: within one week (cases of
Honhaar: suitable third party guarantee be taken.
ISB Hyderabad/Mohali Campus. Branch/RAPC) and within two weeks (CH & ab power)
79/ In case of Three-year part-time weekend Post Graduate Diploma programme in Business iii) Above Rs. 7.50 L: Parent(s)/guardian be joint from the date of receipt of complete application.
01.10.18 management for Working Executives and Business Owners conducted by Xavier School of borrower(s) and Tangible collateral security of suitable CLASSIFICATION: Advances allowed to individuals
(only for Management (XLRI), the clause of Co-obligation of parents/guardian as joint co-borrowers has value acceptable to bank. under the Education Loan Scheme up to Rs.10 L for
Delhi been waived. Security (PNB Kaushal & Honhaar): No coll. Sec. Or TPG. studies in India, irrespective of the sanctioned amt, will
branches) ii. No collateral security to be insisted upon for the amount up to the maximum loan amount PNB Honhaar: The scheme provides guarantee to the bank be eligible for classification under Priority Sector.
as per Annexure E and F. However, all eligible education loans up to Rs.7.50 lacs sanctioned by Higher Education and Skill Development Credit -Top up loan: For pursuing further studies on merits by
on and after 16.09.2015 shall be covered under the Credit Guarantee Fund Scheme on Guarantee Fund in case of default of bank loans. An Annual Incumbents of Scale IV & ab subject to max amt under
Education Loan (CGFSEL), Guarantee Fee of 0.5% of the outstanding amt as on the the Scheme upto Rs.30L/Rs. 40 L for studies in
Education Loan to children of PNB’s Employees where employee is either co- borrower or date of application of the guarantee cover is payable India/abroad respectively taking into account the
guarantor is exempted for coverage under CGFSEL scheme. upfront. The Guarantee fee shall not be recovered from absolute threshold exposure. CH & ab may sanction
As per the reputation of the institutes /individual merit of the case, Zonal Managers have the student up to sanctioned limit of Rs 7.50 Lac, but the higher amt. The repayment of loans will commence
been vested with the powers for permitting waiver of the condition of making the parents as Guarantee fee shall be borne by the borrower for loans after completion of the second course and further
co-borrower. sanctioned above Rs 7.50 lac to Rs 10 Lac. moratorium period as provided under the scheme.
Scheme Purpose & Eligibility Extent of Loan Repayment Period Margin, Security & ROI Other Imp. Guidelines
(1 YR.MCLR-8.30%, w.e.f. 01.08.19)
10. 1. Background: Based on the recommendation of IBA, PNB has formulated a new education 8. Loan Amount: Need based
loan scheme for providing Education Loan to Overseas Citizens of India (OCI) /Person of Indian 9. Expenses considered for loan: All the expenses required to 20. Scheme Code:
origin(PIO)/ Students born to Indian Parents during their stay abroad (Overseas citizen by complete the courses including one time to and fro travel expense to TLEOD: During moratorium period,
PNB- birth) namely “PNB-PRAVASI SHIKSHA LOAN” for pursuing Higher Education in India. India. Hostel accommodation offered by the Institute to be included. TLEDO: After moratorium period
Pravasi 2. Objective: This scheme aims at providing financial support to meritorious students who are Expenses for outside accommodation other than that provided by 21. Interest Table Code: EDPSL
Shiksha Overseas Citizens in India (OCI)/ Person of Indian origin {PIO}/ Students who are born abroad college/university will not be considered for loan. 22. Insurance Cover: Life Insurance Cover is
(Overseas Citizenship by Birth) for pursuing higher education in India. The main emphasis is 10. Credit Information Report (CIR): CIR of NRI Individuals may be mandatory upto an amount equivalent to total
Loan
that a meritorious student is provided with an opportunity to pursue education with the drawn from the external agencies providing the facility of credit score. loan amount including interest accrued during
financial support from the banking system with affordable terms and conditions. 11. PNB Score: A separate variant “PNB Pravasi Shiksha Loan” is repayment holiday.
3. Eligibility: OCI/PIO)/ Students who are born to Indian parents during their stay abroad available under existing score model. 23. Upfront Fee: Upfront Fee with 1% of loan
(RBDA: 26/ (foreign citizens by birth) and should have secured confirmed admission for a higher education 12. Margin: 20% amt, Min Rs.10,000+GST (Non-refundable)
10.07.19) course in identified institutions in India. 24. Document charges: Rs. 450 + GST
13. Rate of interest: MCLR (of 1 year) + 2% (Presently: 10.30%)
4. Co-borrower: Not applicable 14. Guarantee: Guarantee of Person(s) who is/are offering IP in India 25. Passport is mandatory. In case of OCI
5. Courses eligible: Full time regular Graduate/Post Graduate/Diploma (equivalent to Degree)/ or Liquid Security as Collateral Security for the loan is mandatory. borrowers OCI card is mandatory.
Executive Courses. Part time/Research/Certificate Courses are not allowed. 15. Security: EM/RM of IP in India in the name of Guarantor(s) with 26. The Loan amt not to be remitted outside
6. Age criteria: No minimum age limit (Minor is not permitted) value at least 125% of loan amount (IP must be other than agricultural India.
7. Sanctioning Authority: or plantation property or farm house). OR 27. Disposal of Application: within two week
A) Proposals for education loan under the scheme forwarded by overseas offices are to be Liquid Security with value at least 125% of loan amount, in the shape (cases of Branch level) and within three weeks
received centrally at RAPC KAROL BAGH. The applications will be sent to the branch offices of pledge of Govt Security, NSCs, KVPs, IVPs/PSU Bonds (where (cases falling under the powers of CH & ab)
authorized to deal in foreign exchange or the branches permitted by CH by post/courier, as interest is being serviced regularly)/Bank's FDR/LIC Policies (surrender from the date of receipt of complete
per the convenience of the applicant concerned. value) etc. application.
B) Education Loan proposals of NRIs/PIOs, received directly by the inland branches, will be 16. Repayment Period: Max 10 years (excluding moratorium period) 28. Re-imbursement of Fees: Not permitted.
processed and sanctioned at:-- 17. Repayment Holiday/Moratorium Period: Course Period + 6 29. Top up loan: To be considered on merits
i. All the branches authorized to deal in foreign exchange (Category A & B). months (depending on the case) at level of Scale IV &
ii. All the IBBs within their vested power. 18. Repayment mode: Repayment of loan shall be made in EMIs, out ab taking into account the absolute threshold
iii. Category-C branches not linked to RAPC but have been permitted by CH of remittances from outside India through normal banking channels or exposure and performance of student.
iv. RAPC will sanction loan proposal of NRIs/PIOs received through lead generating branches— by debit to NRE/FCNR (B)/NRO accounts. 30. Institutes covered: 143 Identified
a. Which are authorized to deal in foreign exchange 19. Penalty: Penal interest @2% on the default/ irregular portion Educational Institutes in India (as per list at
b. Branches authorized by Circle Head. above Rs.25000/- to be charged as applicable to Retail Advances. Annexure D).
11. 1. Purpose: This scheme benefits all categories of economically weaker students for pursuing Professional/technical courses in India only and provides full interest subsidy during the period of moratorium on
Education loans taken by EWS students. The scheme is effective from the year 2009-10 and the scheme is an ongoing scheme till further instructions to the contrary are received from IBA. Further, the modified scheme
Central
is applicable for the academic year 2018-19 & 2019-20 starting 01st April, 2018. 2. Nodal Bank: Canara Bank is the Nodal Bank for implementation and monitoring of the scheme.
Scheme
3. Applicability/Features of the Scheme: The Scheme is adopted by all Scheduled Banks and is linked with the existing Model Education Loan Scheme of the IBA and restricted to students enrolled in
to professional/technical courses only from NAAC accredited institutions or professional/technical programmes accredited by NBA or institutions of National Importance or Central Funded Technical Institutions (CFTIs).
provide Those Professional institutions/programmes, which do not come under the ambit of NAAC or NBA, would require approval of the respective regulatory body viz, approval of Medical Council of India for Medical courses,
Interest Recognition by concerned state council may be obtained for Nursing courses, Bar council of India for Law etc.
Subsidy 4. Eligibility for Subsidy: The interest subsidy shall be available to the eligible students only once, either for the first undergraduate degree course or the post graduate degrees/diplomas in India inclusive of integrated
(CSIS) courses (Graduate + Post graduate).
on 5. Moratorium Period: Course Period plus one year. On completion of moratorium period, the interest on the outstanding loan amount shall be paid by the student, in accordance with the provisions of the
Educatio educational loan Scheme.
n Loans 6. Income Limit / Proof: The benefit is applicable to the student belonging to economically weaker sections (EWS), having parental income upper limit of Rs. 4.50 lakh per year (from all sources).
to EWS 7. 1% interest concession would be extended to the student borrower at the time of closure of account under the Central Sector Scheme of interest Subsidy, provided the Government of India releases interest
students subsidy claims to the Banks on half yearly or yearly basis and the student borrower repays the Education loans regularly during the repayment period. With respect to concession of 1%, it was clarified that where
Government provides subsidy it is not applicable.
(RBDA: 42/ 8. For Education loans exceeding Rs.10 lakh the subsidy under the scheme is available up to Rs.10 lakh only for studies in India upto 31.03.2018.
22.06.18)
9. Subsidy amount will be only for Rs. 7.50 lakh irrespective of sanctioned loan amount (within the parameters of IBA Model Education Loan Scheme) for all loans taken w.e.f. 01.04.2018.
10. As per RBDA:Cir:34/02.08.19, Field functionaries are required to capture data in all accounts which are eligible for claim through invoking Menu option “EDULOANM” under “T” details and other relevant fields as
applicable in CBS latest by 14.08.2019, so as to lodge the claims centrally.
Scheme Other Imp. Guidelines (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
12. 1. Introduction: i. In The Ministry of Social Justice & Empowerment (MoSJ&E) has launched “Dr. Ambedkar Central Sector Scheme of Interest Subsidy on Educational Loan for Overseas Studies for students belonging to
Other Backward Classes (OBCs) & Economically Backward Classes (EBCs)”. It provides Interest Subsidy for meritorious students from OBCs communities & EBCs communities/castes, who are not included in SC/ST/OBC
Dr.
categories so as to provide them better opportunities for higher education abroad and enhance their employability. The scheme is effective from 2014-15. ii. The scheme provides full interest subsidy during the
Ambedk period of moratorium on education loans taken by OBCs & EBCs for pursuing Post Graduate Diploma, Post Graduate degree course/Masters, M.Phil & Ph.D from any Foreign University. Further, those students, who
ar have completed M.Tech in India but is now pursuing MBA abroad and have received subsidy under CSIS/ State Subsidy Scheme for the M.Tech course, are also eligible in this Scheme.
Central 2. Conditions for Interest Subsidy: i. The Scheme is applicable for higher studies abroad. The interest Subsidy shall be linked with the existing Educational Loan Scheme of IBA and restricted to students enrolled for
course at Masters, M. Phil and Ph. D level. ii. The interest subsidy under the scheme shall be available to the eligible students only once, either for Masters or Ph.D levels. Interest subsidy shall not be available to those
Sector
students who either discontinued the course mid- stream due to any reason, or those who are expelled from the institutions on disciplinary or academic grounds. iii. The scheme be available on preferential basis for
Scheme the professional courses first.
of 3. Eligibility: i. The students should have secured admission in the approved courses at Masters, M. Phil or Ph. D levels abroad for the eligible courses. ii. He/She should have availed loan from a scheduled bank
Interest under the Education Loan Scheme of the IBA for the purpose. iii. The students who have availed interest subsidy under any other scheme including the CSIS scheme for undergraduate courses, shall also be admissible
for interest subsidy under the present scheme. iv. The student should belong to the OBCs & EBCs communities. EBCs are those communities /caste who are not included in SC/ST/OBC categories and whose family
Subsidy
income is below Rs 2.50 lakh per annum.
(ACSIS) -- 4. Income Ceiling:
OBCS & i. For OBC candidates, total income from all sources of the employed candidate or his/her parents/guardians in case of unemployed candidate shall not exceed present Creamy Layer criteria i.e. Rs 8.00 lakh per annum.
EBCS ii. For EBC candidates, total income from all sources of the employed candidate or his/her parents/guardians in case of unemployed candidate shall not exceed Rs.2.50 lakh per annum.
iii. Under this Scheme, Income certificate produced by the student for availing Educational Loan viz. ITR/Form 16/Audited Accounts/Income certificate issued by the authority of State Government/UT Administration is
acceptable to determining Income ceiling.
5. Rate of Interest Subsidy: i. Under the scheme, interest payable by the students availing the education loans of the IBA for the period of moratorium (i.e. course period, plus one year or six months after getting job,
(RBDA: 81/ whichever is earlier) as prescribed under the Education Loan Scheme of the IBA, shall be borne by the Government of India. ii. After the period of moratorium is over, the interest on the outstanding loan amount shall
01.10.18) be paid by the student, in accordance with the existing Educational Loan Scheme as may be amended from time to time. iii. The candidate will bear the Principal installments and interest beyond moratorium period.
6. Nodal Bank: Canara Bank is the Nodal Bank for implementation and monitoring of the scheme.
13. 1. Bank has entered into a Memorandum of Agreement (MoA) on 03.06.2013 for availing 100% refinance from National Handicapped Finance & Development Corporation (NHFDC) for extending concessional Education
Concessio Loans to Persons with Disabilities (PwDs) under bank’s Education Loan Schemes.
2. Guidelines for providing concessional education loan to Persons with Disability (PwDs) under refinance scheme of NHFDC are applicable to all the existing education loan schemes of the bank , subject to the
nal
following stipulations:
Education i. ‘Student Eligibility’ - Loan shall be available to any Student with 40% or more disability on the basis of Disability certificate issued by authorities empowered to issue.
Loans To ii. ‘Expenses considered for Loan’ - Cost of 2-wheeler upto Rs.50,000/- shall be considered within the overall ceiling of loan amount.
Persons iii. ‘Rate of Interest’ – Rate of Interest shall be 4.00% with an additional rebate of 0.50% for women beneficiaries, i.e. 3.50%. {In case of default, normal ROI (plus penal intt) shall be charged for the period of default}.
With No further concession in interest shall be available to any category of borrowers for regular servicing of interest during moratorium period.
iv. ‘Quantum of Finance’ -- Need Based Finance to meet the expenses (taking into account the prescribed Margin), subject to the following ceilings: Studies in India - Max. Rs.10 lakh, Studies abroad - Max. Rs.20 lakh
Disabiliti
v. The maximum repayment period of loan will be in conformity to the guidelines laid down in NHFDC scheme i.e. 7 years after commencement of repayment. The repayment as per repayment schedule would
es commence one year after completion of course or 6 months after securing a job, whichever is earlier. Loans with repayment period beyond the ceiling as above are not eligible for refinance under the aforesaid scheme.
(PWDS) vi. The other terms & conditions as envisaged in all existing Education Loan Schemes of the bank shall remain applicable to this scheme also.
(RBDA: 80/ 3. Educated PwDs are eligible to avail 3% reservation in admissions and also in the government jobs. Besides, the government is also providing attractive incentives to private sector for employing PWDs.
01.10.18)
14. 1. BACKGROUND: i. The PM’s New 15 Point Programme for the Welfare of Minorities announced in June 2006, provides Interest Subsidy for meritorious students from minority communities belonging to EWS of
notified minority communities so as to provide them better opportunities for higher education abroad and enhance their employability. The scheme has been named as “PADHO PARDESH” and is effective from 2013-14.
Padho
ii. This central sector scheme provides full intt subsidy during the period of moratorium on education loans taken by EWS students belonging to minority communities for pursuing Post Graduate Diploma, Post
Pardesh Graduate degree course/Masters, M. Phil & Ph. D from any Foreign University. Further, those students, who have completed M. Tech in India but is now pursuing MBA abroad and have received subsidy under CSIS/state
Scheme of subsidy scheme for the M. Tech course, are also eligible in this Scheme.
Interest 2. ELIGIBILITY: i. The student should have secured admission in the approved courses at Post Graduate Diploma, Masters, M. Phil or Ph. D levels abroad for the eligible courses
Subsidy on ii. He/ She should have availed loan from a scheduled bank under the Educational Loan Scheme of the IBA for the purpose.
Education iii. The loan sanctioned and disbursed from 2013-14 onwards will only be eligible for interest subsidy.
iv. The students who have availed interest subsidy under any other scheme including the CSIS scheme for undergraduate courses shall also be admissible for interest subsidy under the present scheme.
Loans For
v. The income certificate obtained at the time of availing loan shall determine the eligibility under the scheme.
Overseas vi. The Minority Certificate issued by any Religious body issuing authority, School/College Principal or a Self Declaration of the student would be a proof to determine minority community.
studies for 3. Income Ceiling: i. Total income from all sources of the employed candidate or his/her parents/guardians in case of unemployed candidate shall not exceed Rs.6.00 lakh per annum.
Students ii. Income certificate should be submitted from the competent authority in the State/Union Territory.
of 4. Rate of Interest Subsidy:
Minority i. Under the scheme, interest payable by the students availing of the educational loans of the IBA for the period of moratorium (i.e course period, plus one year), shall be borne by the Government of India.
ii. The interest subsidy shall be restricted to the disbursed component not exceeding Rs. 20.00 lakh.
(RBDA: 82/
iii. After the period of moratorium is over, the interest on the outstanding loan amount shall be paid by the student, in accordance with the existing Educational Loan Scheme.
01.10.18)
iv. The Candidate will bear the Principal installments and interest beyond moratorium period.
5. Nodal Bank: Canara Bank is the Nodal Bank for implementation and monitoring of the scheme.
Scheme Other Imp. Guidelines (1 YR.MCLR-8.30%, w.e.f. 01.08.19)

15. 1. BACKGROUND: The Govt. of India through Ministry of HRD, Department of Higher Education has notified the Credit Guarantee Fund Scheme for Education Loan (CGFSEL) vide Gazette
Notification dated Sept 16, 2015 under the Trust Fund, Credit Guarantee Fund for Educational Loans (CGFEL). The fund and the scheme will be managed and operated by National Credit
Credit
Guarantee Trustee Company Limited (NCGTC) which is a wholly- owned Trustee company of Government of India. The Scheme shall be effective on all Education loans sanctioned on or after
Guarante 16.09.2015 (Date of notification) and complying to CGFSEL guidelines. The guarantee cover will commence from the date of payment of guarantee fee and shall run through the agreed tenure
e Fund of the Education Loan.
Scheme 2. The scheme stipulate that all Education loan (for pursuing studies in India and Abroad) sanctioned upto Rs. 7.50 Lac without obtaining collateral security and/or third party guarantee and with
For Maximum Rate of Interest as Base Rate plus 2% (BR+2%), shall be covered, subject to payment of Annual Guarantee Fee (AGF) of 0.50% p.a. on the outstanding loan amount. The Guarantee
fee shall be borne by bank.
Educatio
3. The Bank shall apply for guarantee cover in respect of education loans disbursed in the quarter April-June, July-September, October-December and January- March prior to expiry of the
n Loans following quarter viz. July-September, October- December, January-March and April-June, respectively.
(CGFSEL) 4. Extent of the guarantee: The Fund shall provide guarantee cover to the extent of 75% of the amount in default and would be settled as under:--- 75% of the guaranteed amount will be paid
within 30 days and the balance 25% will be paid after all avenues for recovery have exhausted. The guarantee cover will commence from the date of payment of guarantee fee and shall run
through the agreed tenure of the Education Loan.
(RBDA: 5. Guarantee Fee: For availing the guarantee coverage, the Bank shall pay Annual Guarantee Fee (AGF) of 0.50% p.a. of the outstanding amount as on the date of application of guarantee
19/31.03.16
cover, upfront to the Fund within 30 days from the date of Credit Guarantee Demand Advice Note (CGDAN) of guarantee fee. All subsequent AGFs would be calculated on the basis of the
78/17.09.16
outstanding loan amount as at the beginning of the Financial Year.
97/02.12.16
38/04.06.18) 6. The guarantee fee once paid by the Bank to NCGTC is non-refundable, except under certain circumstances like --- a) Excess remittance, b) Remittance made more than once against the same
Education loan, & c) Annual guarantee fee not due.
7. Invocation of guarantee: The Bank may invoke the guarantee in respect of Education loan within a maximum period of one year from date of NPA, if NPA is after lock-in period or within one
year of lock-in period, if NPA is within lock-in period, after satisfying certain conditions.
16. 1. As per the scheme, all skill loans sanctioned with limits Rs.5000/- & above and up to Rs.1.50 lacs ,under PNB kaushal on or after 15.07.2015 , without any collateral security and /or third
Coverage party guarantee shall be covered under the CGFSSD scheme , subject to compliance of its parameters. Bank shall apply for Guarantee Cover in respect of all eligible education loans up to Rs.1.50
of lacs, sanctioned/disbursed, without any collateral security and /or Third Party Guarantee (subject to compliance of its parameters), in the quarter April-June, July-September, October-
Education December and January-March prior to expiry of the following quarter viz. July-September, October-December, January-March and April-June, respectively.
Loan A/Cs 2. Loan Limit: The minimum and maximum loan limit under this Scheme is Rs.5000/- and Rs.1,50,000/- respectively, without any collateral security and/or third party guarantee.
3. Interest Rate: The Interest Rate to be charged by the Bank for skill loan to be covered under CGFSSD should not be more than 1.5 % p.a. over the MCLR.
Under
4. Eligible Borrower: New or existing borrower with Indian Nationality who meets eligibility criteria prescribed under “Skill Loan Scheme” having the minimum qualification as required by the
“Credit
enrolling institutions/organizations as per National Skill Qualification Framework (NSQF) and who has executed loan documents with the lending institution to avail skill loan. Parents/guardians
Guarantee
will be the co-borrowers.
Fund
5. NCGTC: National Credit Guarantee Trustee Company set up on March 28, 2014 by Government of India under the Companies Act 1956 to act as the Trustee to operate the Credit Guarantee
Scheme
Funds for Educational Loans, Skill Development Loans and any other funds to be set up by Government of India from time to time. All matters pertaining to the operations of CGFSSD would be
For Skill undertaken by NCGTC on behalf of the said Fund Trust.
Developm 6. Lock-in-period: The period during which no invocation of guarantee can be made. A lock-in-period of 12 months has been stipulated from the date of commencement of guarantee cover or
ent end of period of moratorium of interest, whichever is later.
(CGFSSD)” 7. Guarantee Fee: i. For availing the guarantee coverage, the Bank shall pay Guarantee Fee of 0.125% per calendar quarter (i.e. 0.50% p.a.) on the quarter end outstanding portfolio balance
–PNB (skill loans).
KAUSHAL ii. Guarantee fee shall be paid within 16 days from the end of the calendar quarter. (The Bank would need to furnish a Management Certificate within 10 days from the end of the calendar
(RBDA: quarter, after which, a Credit Guarantee Demand Advice Note [CGDAN] would be issued by NCGTC within 3 day of receipt of Management Certificate and subsequently, the guarantee fee shall
79/17.09.16 be payable within 3 days from the issue of CGDAN)
98/02.12.16
8. Invocation of guarantee: The Bank may invoke the guarantee in respect of Education loan within a maximum period of one year from date of NPA, if NPA is after lock-in period or within one
69/10.08.17
year of lock-in period, if NPA is within lock-in period, after satisfying certain conditions.
38/04.06.18)
Scheme Purpose & Eligibility Extent of Loan Repayment Margin, Security & ROI Other Imp. Guidelines
Period (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
17. 1.Purpose: For 3. Extent of Loan: For Individuals/ 6. Repayment 11. Processing/Documentation charges:
purchase of: New/Old Proprietorship Concerns - 25 times Period: 7. MARGIN: For new vehicles: 15% of on road price (CH Upto Rs. 6 Lacs - Rs. 1,000/-
CAR (not older than 3 yr)
Car/Van/Jeep/MUV/
net monthly salary/income/ pension.
Max. Rs.100 L. (for 1 or more
New vehicles –
84 M
discretion 10%)
Tie up arrangement:10% of onroad price OR NIL on Ex-
Above Rs. 6 Lacs- Rs. 1,500/- (excluding GST)
LOAN SUV; vehicles) Old vehicle: showroom price. 12. Under PNB Pride: Full waiver of upfront/
[Reimbursement of cost [BH in S-IV & ab may relax the criteria 60 M. For old vehicles: 30% of value (Value calculated by 15% processing fees and documentation charges for
SCHEM of New vehicle of number of times; CH & ab may straight line method depreciation on current invoice permanent Employees of Central/State
E purchased by individual/ relax the criteria and sanction need {Persons in price.) Govts/Defence personnel & paramilitary forces.
corporate out of own based amount] agriculture &
funds. (Not more than 3 Business Concerns: No Ceiling. allied activities: 8. ROI: 13. Tie up arrangement: 1. Maruti, 2. Tata Motors, 3.
M old)—Margin: 25% on 7 years (new A) Irrespective of CICs Score: M&M, 4. Honda, & 5. Force Motors. (CHs have been
(RBDA: 83/ On-Road Price, 4. Maximum Deduction: vehicles) or 5 Floating: Women/PNBPRIDE/Corporates:
01.10.18 years (old
vested with powers to enter into tie-up with local car
Sanctioning Authority: Net Mly Salary/ Max. Ded. MCLR+0.60% = 8.95 %
105/ vehicles) dealers.
{Branch –invoice date Income of NMS/I Fixed: For All (including PNB PRIDE):
03.12.18) Eligibility Eligibility
up to 1 Months. Circle Up to Rs.30000 40% MCLR+0.95% = 9.25%;
{Repayment per Car per Sales
Head - invoice date up >Rs.30000- 50% B) As per CICs Score: For Others Individual: Floating: dealer executive
to 3 Months.] Rs.100000 within 65 yr of
CIC Score 750 & ab — MCLR + 0.60% = 8.90 % per FY per FY
>Rs.100000 60% age of the
CIC Score 700 - 749 — MCLR + 0.80% = 9.10 % Rates (% of Rates (% of
2. Eligibility: For Private [CH/COCAC & ab, may permit higher borrower, upto
CIC Score less than 700 -- MCLR + 1.05 = 9.35 % loan Amt) loan Amt)
use: Individuals & Joint %age deduction of NMS/I, Max 10% 70 yr by CH &
No. of Loan Amount
over & ab the prescribed ceiling] above.}
Borrowers 9. GUARANTEE/ COLLATERAL SECURITY: vehicle
(parent/spouse/Earning - Third party guarantee / collateral security is waived Upto 10 Upto Rs. 40 L 1.50% 0.25%
5. Loaning Power: {Note:-- Where
Children) in following cases:--i) Permanent Employees of 11 to 40 Ab Rs. 40 L & 1.70% 0.30%
option of
- Business concerns Ind/Sol- Business upto Rs. 1.25
prop. concern
NACH/ECS is Central Govt./State Govt./ PSUs/ MNCs/Listed
(Corporate &Non-Corp). applicable the Companies at BSE or NSE; ii) For other than salaried Cr
-Min net mly S-I NIL NIL Above Ab. Rs. 1.25 1.95% 0.35%
same may only class borrower(s) where ex – showroom cost of the
salary/Pension/ Income S-II 7.50 7.50 40 Cr.
be got car is exceeding Rs. 6 L.
– Rs. 20, 000/-. S-III 25 TL power exercised. No
-Income of S-IV 100 TL power - In all other cases: Third Party guarantee/Collateral [CH may alter the payout ratio amongst Car Dealer &
fresh/additional
spouse/parents/ Earning S-V & Ab. 100 TL power PDC /EMI Security acceptable to the Bank. Sales Executive, keeping in view the business
children (max 1) can be CH/COCA TL power TL power cheques shall be 10. Security inspection: a) Where the loan A/C is mobilized, but within the overall maximum payout
added. C & ab. accepted in running regular the requirement of periodical approved by the bank. The payout will be based on
- For business concerns locations where Inspection, including obtaining of PNB 551, may be leads generated for the Circle as a whole in
(Corporate/Non-corp): the facility of done away with. b) For irregular accounts and branches in that Circle and not on individual branch
Min DSCR should be at ECS/RECS/ accounts under NPA category, the inspection be done
NACH (Debit) is basis.]
least 1.50:1 and min 02 on quarterly or at such shorter intervals as the
available.}
Yr ITRs and BS to be situation demands and PNB 551 to be obtained on
obtained. half yearly basis.
14. CIC SCORE:
a. As per extant guidelines, for loan amount of Rs 5 l & ab, score from two CICs are to be obtained. In such cases, the higher Score of the two CICs scores will be considered for arriving at the applicable ROI.
b. In case where CIC score of applicant is having values (-1) or (0) i.e. no credit history, then rate applicable in bracket “CICs Score less than 700” will be considered.
c. If more than one applicants are there, average of CIC scores of the applicants (whose incomes are considered for eligibility) to be considered for pricing. In such cases, CIC score of applicant/s having
values (-1) or (0) i.e. no credit history should be excluded for average calculation. d. In case of joint applicants, individual CIC score of all the applicants (whose scores are considered for average calculation)
should be minimum 700 for getting better rate of Interest. If any of the joint applicant is having CIC score less than 700, then rate applicable in bracket “CICs Score less than 700” will be considered.
15. Under tie-up arrangement with PSUs, corporates, institutions or in case of bulk business [minimum of 5 car borrowers from the same organization at one time (within a calendar quarter)]:
CHs may relax terms and conditions relating to “Margin” (may reduce upto 10% of on-road price) and “Repayment period” (CHs and ab may relax repayment period further by 12 months from the existing
84 months in case of new Cars.). Guarantee: Guarantee of spouse, if employed/earning, OR third party guarantee acceptable to bank. No guarantee required: If take home pay is more than Rs.30,000/ p.m.
OR If there is no default in repayment of EMI in home/personal loan for the past three months, if any, availed from PNB.
Period
(1 YR.MCLR-8.30%, w.e.f. 01.08.19)
18. 1. Purpose: For purchase of new Two 3. Extent of Loan: a) For 5. 9. SERVICE CHARGES:
wheelers--Scooter/ Motor cycle/ super bikes/hybrid two Repayment 6. Margin: - Upfront Fee –Rs.275/- + GST (for students- NIL)
Two Scooterrete/ Moped, (subject to wheeler (Engine capacity 200 Period: 10% (Salary through Bank/Check-off facility) - Documentation charges- Rs.275/- + GST.
Wheele Registration of vehicle with RTO). CC & above) – Maximum Rs. 25% (Business Concerns)
3.00 Lacs. For 10. Maximum Deduction:
r Loan- Scooters/M- 7. ROI: Less than 3 yr*
2. Eligibility: Existing PNB customers b) For all other Two Wheeler Net Mly Salary/ Max. Ded. of
PNB with at least 6 M satisfactory record Maximum Rs. 1.50 Lacs. Cycles – 60 Salary through MCLR+ 3.25% 11.55%
Income NMS/I
PNB/Check-off facility
SARTHI OR new customer with satisfactory (CH/COCAC & ab: Loans of EMIs.
Others/Business MCLR+ 4.25% 12.55% Up to Rs.30000 40%
track record of last 01 yr with other above Rs.3 L) concern >Rs.30000- Rs.100000 50%
For
Bank/ FI in the age group of 18 years Scooterrete – *0.50% TP for loan period 3 yr & ab. >Rs.100000 60%
4. Income Criteria: Min Net
and 60 years holding a valid
(RBDA: CIR Mly Income of Rs.10,000/- 30 EMIs 8. Security:
DL/Salaried individuals drawing 11. Tie up arrangement: With only Honda
84/01.10.1 p.m.; - Hypothecation of vehicle.
8 – ANN-A) salary from our bank or under check For Mopeds – Motorcycle & Scooter India Ltd. (HMSI).
{-In case of students, - Joint Registration & Insurance of vehicle with
off facility from the employer/ 24 EMIs There is no payout package for two-wheeler
Income/salary proof of Bank clause.
Students of 18 yr & ab. with salaried financing under the tie-up arrangement.
parent/guardian who will be - Third party guarantee: Required for loan ab.
parent as co-borrower drawing salary
co-borrower be considered; 25000/- (CH may waive the guarantee) [For Loan
from our bank/Business concerns. 12. Loaning Powers: Sanctioning of these loans
- Income of spouse can be up to Rs. 25,000/- No guarantee is required]
considered for determining -Sanctioning authority may waive the guarantee backed by 100% liquid security in the shape of
the income criteria; in the following circumstances:--- FDRs, NSCs, and KVPs etc. will be considered at
- Income of business i) Liquid Collateral Security (FDRs, NSCs, LICs) all level of branches subject to ceiling of the
concerns be verified from having PV/SV of at least 60% of loan amount is amt in terms of the scheme and repayment
Income Tax Returns filed and offered. capacity of the borrower. These proposals shall
challans for Tax Deposited.} ii) In case EM of IP is offered to the extent of be exempted from application of PNB Score.
100% amount of the loan.
19. 1. Purpose: For purchase of new 3. EXTENT OF LOAN: 6. 7. Margin: 10% of Ex show room price. 11. SERVICE CHARGES:
Two Two-wheeler only to Women Max Rs 60,000/- Repayment - Upfront fee: Rs. 500 +GST;
borrowers, subject to Registration of Period:-- 8. ROI: MCLR+1.75% = 10.05 % - Documentation Charge: NIL
Wheele
vehicle with RTO.
r Loan 2. Eligibility: Salaried with minimum 12. Proof of Income:
4. Income – Max. 36 9. Security: i) Latest 3 salary slips along with Form 16/ITR
to 6 months service; Self-employed with
Min Rs. 8000 p.m. -Hypothecation of vehicle.
Months EMI of previous yr in case of salaried borrower;
Women experience of more than one year -Joint Registration & Insurance of vehicle with Bank
(Based upon declaration/bank ii) ITR of previous yr in the case of self
borrow {NACH/ECS clause. employed individuals;
account/ ITR etc.); Student with their -Suitable Guarantee acceptable to the sanctioning
ers- 5. Maximum permissible mandate
parents/ guardian as co- borrowers; authority. Guarantor may be a family member {Stipulation of obtaining ITR may be waived
Deduction: and/or PDCs
PNB - Individuals should be in the age
for the and/or third party. off in cases where the income declared by the
group of 18 years to 65 years and 50% of NMS/NMI
POWER period of However cross guarantees are to be avoided. borrower is less than the ceiling prescribed
should hold valid driving license. In under IT Act for filing mandatory ITR. Self-
RIDE case of students age of parents/
loan shall be
obtained.} 10. SECURITY INSPECTION: First inspection at the Declaration in the form of Affidavit in case of
guardian is to be considered and in time of financing on PNB 551. For irregular & NPA non ITR.}
that case driving license may be in A/C, inspection on quarterly or shorter intervals
(RBDA: CIR the name of Student/ Parents/ 13. INSURANCE: Undertaking from the
on PNB-551. Where the loan account is running
84/01.10.1 Guardian. Having an account borrower that he/she will take a
8 –ANN-B) regular the requirement of periodical Inspection,
preferably in PNB or in any Bank for including obtaining of PNB 551, may be done comprehensive insurance policy with agreed
more than 6 months. In case of away with. Bank clause & Copy of Insurance Policy shall
students Bank account may be in the be provided to bank.
name of parents/ guardian.
Scheme Purpose & Extent of Loan Repayment Margin, Security & ROI Other Imp. Guidelines
Eligibility Period (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
1.Eligibility: 2. EXTENT OF LOAN: Min—Rs. 25000/- 3. Repayment 4. Margin: NIL 8. SERVICE CHARGES:
20. - Upfront Fee- NIL.
Pensioners (Ex- Period:
Age of Maximum Loan Amount 5. Deductions not to exceed 50% of NMS/NMI.
employees of our - Max. 60 - Documentation charges – Rs 500/- + taxes.
PENSION Borrower
6. ROI: MCLR+2.80% =11.10 %
Bank & DPDO Months.
LOAN: Age upto 18 times of net mly pension - Scheme Code- TLPPL /DLPPL.
pensioners 70Yr (Defence Pensioners - 20 times) OR - For above 75 7. Security: - Interest Table Code: PTPEL
included) Max. Rs.10 Lac, whichever is lower. years age: - Guarantee of spouse eligible for family pension to be
drawing pension Ab. 70 yr 18 times of net mly pension
(RBDA:CIR Max. 24 M. obtained. 9. Nature of Loan: DL/TL/OD on monthly
through our & upto (Defence Pensioners - 20 times) OR
:87/ - Where loan is given to family pensioners, guarantee of reducing DP basis. (As OD is self-liquidating in
branches. 75 yr Max. Rs.7.50 Lac, whichever is
01.10.18) lower.
earning children (Preferably Govt. Employee) to be nature, it should be preferred to other
Ab. 75 yr 12 times of net mly pension OR taken. If no earning children, Third party guarantee with options).
Max. Rs. 5.00 Lac, whichever is net means of equal or more than loan amount, to be
lower. taken.
1. Eligibility: 2. Amt of Loan & Min Net Mly Income: 3. Margin: NIL 8. SERVICE CHARGES:
21. A) Min Amt of Loan will be Rs. 50000/- and maximum amount of -Documentation charges:
Permanent/ 4. ROI:
Confirmed loan Rs. 4 Lacs or 20 times mly net salary whichever is lower upto Rs.2 L – Rs.270/- and
Loan upto Rs.10 L-whose salary is disbursed through our
depending upon the repaying capacity subject to minimum Net over Rs.2 L – Rs. 450/- + taxes.
PERSO employees of
mly salary as under:-- Metro Centres: Rs.15000/-, Urban:
br -- MCLR+3.55% =11.85 %.
{For Defense Personnel – Both charges: NIL}
Defense/ Central/ Loan upto Rs. 5 L-Under Check off facility –
NAL State/ PSUs/ Rs.12500/-,SU/ Rural: Rs.10000/- And MCLR+5.55% = 13.85 % -Upfront Fee: 1.80%+taxes.
Reputed Rs. 5 Lacs or 20 times mly net salary whichever is lower for
LOAN: Companies/ those Salaried persons having completed service of 3 yr in the
For Others upto Rs. 5L- MCLR+6.55% = 14.85 %
Loan ab Rs. 5 L-10L & for other categories, i.e., -Nature of Loan: TL/OD with reducing DP.
Schools/ present organization & drawing net mly salary of not less than applicants no salary A/c with our Bank irrespective of -Scheme Code: TLPDG & ODPER
Colleges/ Rs.30,000/- p.m. Check- off facility (Field functionaries are not
9. Irrevocable letter of authority authorizing
(Doctors with empowered to sanction these cases) – MCLR + 4.55%=
[CH & ab may relax the minimum net monthly income criteria the employer to remit salary-cum-letter of
FOR annual income of 12.85 %
upto Rs.12500/- for metro centers and Rs. 10,000/- for urban acknowledgement from employer to be
PUBLIC/ Rs 4.00 L & ab) centers and upto Rs.7500/- for rural/semi urban areas, on 5. Security: Suitable third party guarantee acceptable to taken.
LIC -Individuals merits of each case.] the Bank. (CH may waive the guarantee)
AGENTS drawing salary [i. For teachers and defence personnel min. net mly income is For LIC Agents: i. Suitable third party guarantee 10. Scheme Applicability: All Branches are
thru’ our Rs.7500/- at all Centres; acceptable to the Bank and assignment of LIC policy of permitted to generate/Procure loan
Bank/availing ii. For LIC Agents: Minimum amount of loan will be Rs. 50000/- self, with sum assured equivalent to loan amount OR ii. applications for processing, sanctioning and
loan under check- and maximum amount of loan Rs.2.00 lac or equivalent to 15 Tangible Collateral Security of the value of 100% of loan for financing under the Scheme.
off facilities. times of average monthly commission received during the amount. {However, disbursement and further
(RBDA:CIR:
- LIC agents aged preceding 12 months, whichever is lower. continuation of the account shall only be
86/ 6. Repayment Period (including Defence Personnel):
01.10.18, below 60 years iii. For LIC Agents: Renewable Average Commission (average of permitted at the branches having a recovery
with more than 5 Max. 60 months or remaining period of service,
103/ the commission received during the preceding twelve months) whichever is earlier. LIC AGENTS: 60 EMIs or upto 65 rate of more than 90% and NPA level is not
01.12.18) Yr of agency, must be at least Rs.10,000/- per month. (Form 16 issued by LIC more than 2% under the Personal Loan
years of age, whichever is earlier.
having regular reflects the renewal commission)]. segment as at the end of previous financial
and stable year OR NPA level more than 2% but upto 5%
B) For Employees drawing Sal thr our bank: Loan amt has been 7. Maximum Deduction
income and is concentrated in not more than 5% account
maintaining SF increased up to Rs.10 L for those salaried persons who have Net Monthly Salary/ Inc. Max. Ded. of NMS/I
Up to Rs.30000 30% under Personal loan scheme as at the end of
a/c with our completed minimum 3 yr of service in the present organization.
>Rs.30000- Rs.60000 40% previous financial year.}
branch. For Loans above Rs.5 L & up to Rs.10 L, limit of Personal Loan
>Rs.60000- Rs.100000 50% {Approval from Circle Head is required in
be 15 times of monthly net salary or Rs.10 L whichever is lower
case of branches for every block of 25 loans -
depending upon the repaying capacity with minimum Net >Rs.100000 60%
status of portfolio/delinquency to be
monthly salary as under:-- Metro Centres : Rs.50000/-, Urban
evaluated.}
Centres : Rs.40000/-, Semi- Urban/ Rural Centres : Rs.30000/-
Scheme Purpose & Eligibility Extent of Loan Repayment Period Margin, Security & ROI Other Imp. Guidelines (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
22. 1. Additional Benefit to Doctors: Under the Scheme, Professionally qualified practicing/serving Doctors will get following additional benefits vis-à-vis 10. Maximum Deduction
Personal existing Personal Loan scheme of the bank:--- i) Higher quantum of loan: Maximum Rs. 15.00 lakh against Rs.10.00 lakh. ii) Long repayment period: Net Monthly Salary/ Inc. Max. Ded. of NMS/I
Loan 7 years against 5 years. iii) 50% concession in Upfront & Documentation Charges. 0.90% against 1.80% of loan amount. iv) Lower rate of interest. Up to Rs.50000 40%
Scheme >Rs.50000- Rs.100000 50%
To 2. ELIGIBILITY: i. Professionally qualified practicing/serving Doctors viz., MBBS, BDS & above having Net Annual Income/Salary of Rs.5 L & ab. Doctors >Rs.100000 60%
Doctors: should be taxpayers for the last 02 years and the ITRs of the last 02 years duly receipted by ITO be kept on record. ii. Borrower should have a continued Note: The NMS/I of spouse be included while ascertaining
PNB occupancy at current place of residence, of a minimum of 02 years. (Not applicable In Case of Doctors who are Employees of Govt./Institutions etc. the repaying capacity where the spouse is either a
Doctor’S 3. PURPOSE: For meeting expenses of professional/personal requirement. Professionally qualified practicing Doctors viz., MBBS, BDS
Delight 4. NATURE OF LOAN: TL & OD with reducing DP basis. 5. MARGIN: NIL, 6. ROI: MCLR+2% =10.30% & above or confirmed/ permanent employee of
Central/State Govt./PSUs and reputed companies/
7. Amount Of Loan And Minimum Net Annual Salary/Income: A. Minimum amount of loan will be Rs. 2 L and maximum amount of loan Rs. 15 L or 20 Institutions including Schools, Colleges, Universities,
times monthly net salary/income whichever is lower depending upon the repaying capacity subject to having Net Annual Income/Salary of Rs.5 L & ab. Autonomous bodies, Hospitals, Nursing Homes. In such
(RBDA: cases, the spouse is to be made as co-borrower.
09/ 8. REPAYMENT: i. Term Loan: within remaining period of service or in maximum 84 EMIs. ii. Overdraft: within a maximum period of 84 months by reducing
25.02.19) DP equivalent to EMI amount at the beginning of every month. iii. Repayment of the loan along with interest should not extend beyond the age of 65 years 11. Upfront Fee and Documentation Charges:
of borrower. Circle Head & above may relax repayment period upto the age of 70 years. Upfront Fee: 0.90% of loan amount + Taxes.
9. SECURITY: Suitable third party guarantee acceptable to the Bank. Circle Head and above may waive obtaining of guarantee on merits on case to case Documentation charges: Rs.450+ Taxes.
basis. OR Tangible Collateral Security of the value of 100% of loan amount.
23. 1. Purpose & Eligibility: 5. Margin: i) 35%, if borrower opts for bullet repayment. 9. SERVICE CHARGES:
- Loan to Individuals/ Business Enterprises. ii) 25%, if borrower opts to pay intt as and when levied. - Upfront Fee: 0.25% + taxes
Gold
- Adv. against the security of gold jewellery/ ornaments and Gold Coins. For productive/ Non- {LTV ratio not to exceed 75% of the value of security during - Documentation charges: Rs. 250 +taxes.
Loan productive purposes, but not for speculative purposes. the entire currency of loan.} - Nature of Facility: DL/OD
Schem - No loan against bullion, primary/ smuggled gold and against repledge of gold. - CR not required for advance upto Rs. 10000/-, Above
es -Purpose & genuineness of the credit is to be ascertained and end use of funds to be ensured. 6. ROI: Rs. 10,000/- brief CR on PNB-905.
2. Extent of Loan: i) Productive purposes: Need based, without ceiling. Productive For MCLR + 1.60%= 9.90 % - Disbursement of the loan in the SF A/C of the
(RBDA: ii) Non-productive purposes: Max. Rs.10 Lacs. Purpose agriculture borrower.
90/ 3. Repaying Capacity: Gold loans are to be sanctioned keeping in view the interest and Others MCLR + 2.60%= 10.90 % - The scheme to be handled outside the scope of RAPC
01.10.18) principal repaying capacity of the borrower i.e. the net monthly income (after deducting all Non- Public/Staff MCLR + 2.60%= 10.90 % model and exempted from application of PNB Score.
statutory and other dues/deductions/ repayments including repayment of interest on present Productive 10. Valuation: The rate of 22 carat Gold for advance
{ANN-A- gold loan) of the borrower is sufficient to meet the monthly interest. Purpose against Gold Jewellery/Ornaments and Gold Coins
Adv 4. Repayment Period: The loan may be repaid by any of the following option:---- are being advised by HO: RBD on monthly basis
a) Loans for Agricultural Purposes: i. Interest required to be charged/recovered at yearly/half 7. Security: Gold jewellery, ornaments and Gold coins issued based on average of the closing price of 22 carat
against
yearly intervals coinciding with the harvesting of crops. However, the account to be adjusted by any schedule bank/our bank. {Weight of the coin(s) does Gold for preceding 30 days OR the present price,
Gold whichever is lower, as quoted by the India Bullion
not exceed 50 grams per customer.}
Jeweller within a maximum period of 12 months or as and when demanded. OD facility to be
and Jewellers Association Ltd.
y/Orna renewed annually. ii. Repayment through Bullet Payment i.e. payment of interest and
8. Insurance: Banker's Indemnity Policy taken by HO: GSAD -Valuation Charges: Rs.3/- per thousand maximum
ments principal at maturity.
covers loss/damage to jewellery, pledged with the Bank, Rs. 300/- (to be recovered from prospective
b) Loans for Non Agricultural Purposes (Productive & Non productive):
& Gold cash, etc. to a limited extent (presently Rs. 5 Crore). borrower)
i. Regular servicing of interest as and when levied. Principal being repayable within 12 Interest & principal repayment capacity to be
Coins}
months or as and when demanded. OD facility to be renewed annually. ascertained and ensured at the time of sanction.
ii. Repayment through Bullet Payment.
1. Eligibility: i. A person resident of India, being an individual in his capacity as individual or on 10. General Instructions:--
behalf of minor child, or jointly with another individual. ii. Trust, HUF, Charitable Institutions 1. Pledge/lien on bond should be marked in the favour of bank, with the depository and confirmation held on record.
ANN-
and University. 2. The SGBs should be held in demat form with the Depository Participant of NSDL only.
B- 2. Nature of facility: i. Demand Loan, ii. Overdraft 3. In case of advances against Sovereign Gold Bond standing in the name of minor, the procedure as laid down for
Adv ag 3. Quantum of loan: Minimum – Rs. 50000/- . Maximum - Rs.10.00 Lacs Advances Against Bank's Own Deposits must be followed.
Sovere 4. Disbursement: In case of demand loan, by way of credit in the operative A/C of the 4. Sovereign Gold Bonds are issued in the form of Government of India Stock and hence advance against Sovereign Gold
ign borrower. Bond has been exempted from Credit Risk rating & extraction of Credit Information Report (CIR) from Credit Information
Companies (CIC).
Gold 5. Repayment Period: Till the date of maturity i.e. Maximum 8 years or residual period of
5. Interest will be charged on annual basis and will be serviced as and when levied. If the interest is not serviced, lien will
Bonds the Gold Bond, whichever is earlier.
be invoked after one year from the interest demand date.
6. Margin: Individuals – 25% Other than individuals – 40%
6. Branches to monitor the loan account periodically and ensure the adequacy of margin, so that at no time the amount
7. Security: Pledge/Lien on Sovereign Gold bond (in Dematerialized form only).
o/s in the loan account along with the unrecovered interest accrued/debited exceeds the value of security. Loan to
8. Rate of Interest: Individuals --- MCLR + 1%; Other than individuals --- MCLR + 2%
Value ratio (75%) will be calculated and maintained on monthly basis based on the Gold rate published by Retail Banking
9. Upfront Fee and Documentation Charges: NIL
Division. In case of any shortage, the borrower should be asked to deposit the same immediately.
Scheme Purpose & Eligibility Repayment Period Margin, Other Imp. Guidelines
Extent of Loan Security (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
24. 1) Eligibility: For Personal 5. Repayment Period: 6. Margin: 8. SERVICE CHARGES:
Needs: Employees of Central/ 3. Extent of Loan: A) For Term Loan- Upfront Fee -- 0.90% of
Loan amount together with interest to be 25%;
State Govt./Schools/Colleges/ For Personal needs: Min 1 L, Max 25 L repaid: Loan Amt: Min Rs 5000+GST, Max. Rs.
PSUs/ Reputed Corporates and For Business needs: Min 5 L, Max 500 L 125000/- + GST.
Mortga Other IT Assesses, below the
For Personal Needs: in maximum 120 EMIs OR 7. (Existing: 0.90% of Loan Amt, Max. Rs. 45000/-)
-Income of spouse/earning children/ parents/ partners /Directors can up to the age of 70 Yr, whichever is earlier.
ge of IP age of 70 year. Security: B) For OD- Processing Fee – Rs.300 per Lac or
be added for assessing repaying capacity (made co-borrowers). But, if For Business Needs:
For Business Enterprises: the facility is being considered to Business enterprises (firm), EM of IP. part, to be recovered on yearly basis.
a. For Traders (Retail & Wholesale) -- in 144 C) Documentation Charges –
(TL/OD) Existing customers with a individuals whose income is taken into consideration for monthly EMIs. [EM of non- For Loan upto Rs. 25 L— Max Rs. 2500+GST
satisfactory track record of 03 yr installment or for servicing of interest (for determining loan amount) be b. For Enterprises in Service Sector, encumbere For Loan above Rs. 25 L—Max Rs.5000+GST
(cash profits during last 03 yr made Guarantors. Professional & Self Employed, Manufacturing d (Existing: Rs.1500/- + GST.)
(RBDA: and net profit in the - Regular income from all sources including Rental Income can be
concerns, Education Institutions -- in 180 residential
88/ immediately preceding year) considered provided the sanctioning authority is satisfied with the 9. Required Docs for Business enterprises: ABS
EMIs. House/Flat for previous 3 years, Prov. BS for current FY
01.10.18) belonging to categories: Retail proof of income.
- In case of Loan to Pvt. Ltd. Co., Income/salary of Directors will not be CH & ab may relax repayment up to age of 75 or (upto previous month/qtr end) & Projected BS
Traders/ Wholesale Traders, commercial
added for limit calculation. years. (applicable in case of Individual/sole- for current FY end.
(LA:79/ Professionals & Self-employed, or
- Credit facility be allowed only to the applicant (s) having risk rating proprietorship concern) 10. New prospective borrowers and take-over
17.07.19) Small Business Enterprises in industrial cases (except Trust, Society, Schools &
score in ‘Investment Grade/‘B2’ in PNB Track or equivalent rating in Note: Repayment period to be linked with
the service sector, ‘PNB Score’ model. Proposals below the above rating shall be property (in Educational Institutions) may be considered
(RBDA:31/ Manufacturing concerns, which Purpose/Activity of the borrower.
considered at HO level. -TL/OD on monthly reducing DP. the shape who are in existence for min last 03 yr or more
30.07.19) are functioning/operating their - Repaying capacity/assessment of loan, is to be calculated on the basis of building/ with satisfactory track record and fulfilling the
business/ profession as: -Reducing to the extent of the principal
of latest salary slips for salaried borrower(s) and on the basis of latest Industrial criteria for existing customers viz. cash profits
(RBDA:35/ Individuals/Sole – component of the EMI calculated on full
ITRs for other than salaried borrower(s). Further, regularity of Shed) self during last 03 years and net profit in the
03.08.19) Proprietorship firms/ sanctioned limit. immediately preceding financial year.
salary/income is to be ensured by taking 3 years ITRs/Form 16/BS [ABS occupied or
Partnership firm/ Proprietorship wherever stipulated] (Whichever is applicable) for all borrower(s), i.e.,
-Renewed/reviewed annually. 11. Rural Area: In case of loan against
- Revised ‘Repayment Period’ will be vacant.]
Concern of HUF/Pvt. Ltd. salaried & other than salaried. mortgage of Immovable properties located in
Companies/ Public Limited applicable only in case of: Fresh Sanctions and Rural Areas, Circle Heads & above shall
4. Loaning Power:
Companies/ Limited Liability Renewal/ Restoration/Enhancement of approve the rural areas having potential for
S-I---NIL; S-II---10 L; S-III-- 40 L; Existing Limit.
Partnership (LLP). such advances.
S-IV--200L (OD-300 L); S-V & ab.-- 500 L
2) Income Criteria:
i) For salaried class: Min net 12. ASSESSMENT OF LIMIT: i) Maximum75% of the Realizable Value of IP; ii) Maximum three times of Annual Gross Income /Gross Profit, whichever is lower (In case of TL);
monthly/ salary of Rs.25, 000/- Maximum Four times of Annual Gross Income/Gross Profit, whichever is lower (In case of OD). iii) Max. Permissible deduction of NMS/NMI/ ANPAT - 50/60/70% (as below);
(previous-10000/-) for last 03 Whichever is the least of above 3.
years. or 13. Max. Permissible Deduction of NMS/NMI/ANPAT:
For other IT assesses: Min net i) 50% - NMS/I upto 0.50 L OR ANPAT upto 5 L; ii) 60% -- NMS/I ab. 0.50 L & upto 1.25 L OR ANPAT ab. 5 L & upto 15 L; iii) 70% -- NMS/I ab. 1.25 L OR ANPAT ab. 15 L
annual income of Rs.3,00,000/-
14. a) NMS/I is equal to {Gross Salary/Income – Statutory Deductions such as Income Tax, Professional Tax, Other Tax Liabilities, PF etc.}
(previous-120000/-)
b) Annual Net Profit after Tax (ANPAT) will be arrived at after adding back depreciation and actual interest booked on all type of loans (Term loan, CC, OD etc.) excluding
ii) For Business Enterprises:
unsecured loans taken from relatives, friends etc., as per verifiable source such as Profit & Loss (P&L)/ Income & Expenditure/Payment & Receipt etc., of the borrower(s).
Minimum Net annual income/
c) All deductions for this purpose will include proposed mortgage loan installment, existing deductions (except statutory deductions), loan installments, actual interest on
Net Profit of Rs.3,00,000/- and
term loans, notional interest on full sanctioned limit of CC, OD etc. and should not exceed the prescribed ceiling.
ab (previous-120000/- & ab).
Further, Intt and depreciation
charges will be added back for 15. Revised Rate of Interest: 16. Concession in Rate of Interest:
the purpose of arriving at Net PNB Trac/PNB Score Revised Rate of Interest (Irrespective of loan tenure) Available Realizable value of IP Concession in ROI
Income/profit. ROI for Overdraft ROI for Term Loan Above 200% & upto 250% of loan amount 0.25%
iii) For Schools/Educational A1 / > 80 *MCLR+1.65 *MCLR +1.75 Above 250% & upto 300% of loan amount 0.50%
Institutes/ Society: A2 / > 70 < 80 *MCLR +1.75 *MCLR +2.25 Above 300% of loan amount 0.75%
A3 / > 64 < 70 *MCLR +2.00 *MCLR +2.45
The cash flows are satisfactory
A4 / > 58 < 64 *MCLR +2.35 *MCLR +2.75
and sufficient surplus is 17. Inspection of Property Mortgaged:--- a) Once every year for regular
B1 / > 52 < 58 *MCLR +2.55 *MCLR +3.00
available for repayment of loan accounts; b) Once every half year for irregular accounts; & c) At least once in
B2 / > 46 < 52 MCLR +3.00 MCLR +3.50
along with interest/ EMI. three months for NPA accounts. The period of inspection will be January-
B3 / > 40 <_ 46 MCLR +3.50 MCLR +4.00
iv) For Trusts: The activity December for regular accounts and January-June and July-December period for
B4 / > 35 < 40 MCLR +4.00 MCLR +4.50
undertaken by the Trust is irregular and four calendar quarters (Jan-Mar, Apr-June, July-Sept & Oct-
C1 / > 25 < 35 MCLR +4.50 MCLR +5.00
commercially viable, cash flow is December) for NPA accounts. The Visit Report be placed on record.
C2 / > 25 MCLR +5.50 MCLR +6.00
satisfactory and sufficient
* Relaxation in spread on the basis of Risk rating /PNB score upto B1 / > 52 < 58.
surplus is available for
repayment of loan along with
interest/ EMI.
Period (1 YR.MCLR-8.30%, w.e.f. 01.08.19)
1. Objective: To meet the financial 4. EXTENT OF LOAN: Max. Rs. 100 L 6. Repayment 7. Margin: 20% 12. Residual life of the residential property
25. needs of senior citizens owning self (along with interest) to be paid monthly Period: 8. ROI: MCLR+2.60% (fixed) i.e. 10.90 %, should be at least 20 years.
occupied property (house) for leading a on reverse annuity basis. Lump sum amt - Loan to be re-set clause of 5 years. 13. Revaluation of IP:--The Bank shall revalue the
PNB decent life. Max. 15 L permitted (at HO, RAD) for recovered only 9. Security: EM of Residential property once in five years (at borrower’s cost)
BAGHBAN 2. Purpose of Loan: For generating medical exigencies of the borrower, after the death Property. and reduce or increase the loan or installment, at
income/ supplementing pension/ other spouse and dependents, if any. of both the CH & ab. are, empowered to deal its discretion, depending on the valuation.
income for day to day requirements. Monthly payments to be allowed for a spouses. No loan with proposals of considering 14. Borrower may prepay the principal amount
(A scheme 3. Eligibility: The residential house/flat period between 10 to 20 years depending repayment ancestral residential self-occupied together with accumulated interest/other
for House owner, who is resident of India, of the upon the age of senior citizen borrower. during the property as security for loan, on case charges, at any time and repossess the property.
Owning age of 60 yr & ab, is eligible to raise the lifetime of the to case basis, 15. “Right of Rescission”: The customer/
Senior loan under this Scheme. In case of joint 5. WILL: The residential house/flat borrower. borrower will get 10 days’ time to decide whether
10. Loaning power: Same as term
Citizens account, one of the spouse must be of should be in his/her single name or - The loan shall to avail the loan facility or cancel the transaction,
loan, taking into account the eligible
under the age of 60 yr & ab, while the age of jointly with his/her spouse. In case it is become due and after sanction of the loan, and get refund of the
amt for calculating the monthly
Reverse other spouse should be min 58 yr. in the single name of one individual, payable: 6 M processing/upfront fee, already paid by him, in
installments.
Mortgage - No income or credit requirements. he/she should give “will” in favour of (moratorium case he opts to cancel the transaction.
- Loan will be allowed only against the other spouse, who should be made period) after 11. Safeguards: i) Borrower/s to 16. Where mortgage by deposit of title deed is
Concept)
self-acquired & self-occupied co-borrower. In case the spouse is not death of last provide documentary evidence that not possible, borrower/s has/have to go for
residential property. In case of alive, he/she may make “Will” in favour surviving he/she is the only legal heir entitled to creation of Regd. Mortgage.
residential property, which is ancestral of his/her relative/s, who is/are spouse. the property and that the said 17. SERVICE CHARGES:
(RBDA: and self-occupied, powers are vested otherwise his/her legal heirs. The property is self-occupied. - Upfront Fee – Half month’s Loan Installment
89/ with Circle Head. The residential borrower will undertake that no fresh ii) Borrower/s to provide legal proof with Max. Rs.15,000/- + taxes.
01.10.18) house/flat should be in his/her single “will” shall be prepared during currency like relinquishment/release deed, - Documentation/Inspection Charges – NIL.
name or jointly with his/her spouse. of loan. probate of will etc.
18. Disbursement/tenor of loan: The loan shall be extended as regular fixed monthly payments calculated as per the chart given in the circular during the loan period or till the death of the last
surviving spouse, whichever is earlier.
- The tenor of loan shall be 15 years to 20 years for the age group of individuals between 60 and 70 years and 10 years to 15 years for the age group of individuals above 70 years OR till
survival of any of the spouse, whichever is earlier. In case of joint account, the minimum age of the other spouse for availing the loan under these two categories of tenors will be 58 and
68 years respectively. The term of loan can be extended at the end of the tenor at the sole discretion of the Bank, depending on the security cover available as per the realizable value of the
property. The maximum tenor of the loan, in any case, will not be more than 20 years.
- The Bank will credit loan instalments to his/her SF A/C. In case the loan is in the name of both the spouses, a SF account will be opened in their joint names for the purpose of crediting the
monthly instalments with the “either or survivor” clause.
26. 1) Eligibility:-- All Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) are eligible for loan under the Scheme.
2) Purpose:--For acquisition/construction/repairs/renovation/improvement of flat/house owned by NRIs/PIOs in India and for purchase of Plot. This flat/house, may be used for self-occupation/letting
out.
Housing 3) Amount of Loan, ROI, Guarantee clause, Quantum/extent of loan, Margin, Insurance cover, Repayment, Age and Service charges shall be as per the Housing Loan Scheme for Public, applicable to
Finance resident Indians.
Scheme 4) Security:-- EM of the concerned property and, if necessary, lien on borrower’s other assets in India.
5) Repayment:--- Within a period not exceeding 30 years (including moratorium period, if any), by remittances from abroad through normal banking channels or out of funds in his/her
For NRE/FCNR(B)/NRNR/NRO/NRSR account in India or out of rental income derived from renting out the property acquired by utilization of the loan. Close relatives of the borrower in India shall also be
NRI/PIOs allowed to repay such loans, interest and other charges through their Bank account directly to the borrower’s loan account with the authorized dealer/identified branch.
6) Disbursement:-- Loan should not be credited to NRE/FCNR(B)/NRNR account of the borrower. HL disbursement should be routed/monitored through NRO a/cs.
7) Rental Income:--- If the house/flat is rented out, the entire rental income, even it is more than the prescribed installment, should be adjusted towards repayment of the loan. If the rental income is less
than the prescribed installment, the borrower should remit the amount to the extent of shortfall from abroad or pay the difference out of his/her NRE/FCNR(B)/NRO/NRNR/NRSR account in India.
8) Processing:--- Proposals for Housing Loan to NRIs/PIOs, forwarded by our overseas offices, be processed/sanctioned centrally at RAPC, Gurudwara Road, Karol Bagh, New Delhi. Beyond the powers of
this RAPC, will be forwarded to Circle Office, Central Delhi, for consideration. Loan to be disbursed as per the convenience of the customer, at branches authorized to deal in foreign exchange or the
(RBDA: branches permitted by Circle Head. Maximum time frame: Three weeks.
30/ 9) Processing:--- Housing Loan proposals of NRIs/PIOs, received directly by the inland branches, will be processed/sanctioned at:---
20.07.19) I. All branches authorized to deal in foreign exchange (Category A & B). II. IBBs, III. All RAPC, IV. Category C branches not linked to RAPC permitted by CH. (Loans beyond their powers, by Circle Offices)
10) Branches may also consider granting loans where NRI/PIO is a principal borrower with resident close relative(s) (as defined in Section 6 of Companies Act 1956) as co-obligant/guarantor or where
the land is owned jointly by NRI/PIO borrower with resident close relative, subject to the condition mentioned as above. There will be no objection to loans being granted to residents with NRI/PIO as a
co-obligant.
Scheme Important Guidelines (RLLR = REPO RATE + MARKUP = 5.40% + 2.65% = 8.05%)
1. Bank has decided to offer Retail Loans linked with External Benchmark i.e. Repo Linked Lending rate (RLLR) under floating rate option.
27. 2. To take care of regulatory guidelines and to give an option to prospective borrowers, a new scheme of Housing Loan linked to RLLR has been launched under the name of ‘PNB Advantage Housing Loan’.
PNB 3. As per the new scheme PNB Advantage Housing Loan, following modifications have been incorporated viz-a-viz existing ‘Housing Loan for public’:---
i) Rate of interest (ROI) linked with RLLR will be applicable under floating option only.
Advantage ii) Separate Scheme code and Rate of Interest Codes have been customized as under:--- Scheme Code: TLPHR; Interest table codes:---
Housing Scheme/ Rate of Interest (Based on Repo Rate
Loan Borrower Type Limit Up to Rs. 75 Lac Limit above Rs. 75 Lac
Floating Women RLLR + 0.20% (RU75W) RLLR + 0.25% (RA75W)
Others RLLR + 0.25% (RU75O) RLLR + 0.30% (RA75O)
PNB PRIDE RLLR + 0.20% (RU75P) RLLR +0.25% (RA75P)
(RBDA: iii) The ROI linked with RLLR shall be applicable in the fresh accounts opened under scheme.
38/ iv) In case the existing borrowers want to switch to new scheme namely ‘PNB Advantage Housing Loan’ under the RLLR of interest before the expiry of the existing contracts, the new/revised rate structure should be mutually
27.08.19) agreed upon by the bank and the borrower through supplementary agreement. Also, the notice-cum-acceptance letter for shifting to RLLR system shall be obtained from borrower.
v) The interest rate on linkage to Repo Rate will change upwards or downwards as the case may be, in line with movement of the Repo Rate (External Benchmark).
vi) The scheme is not applicable on housing loan categorized under CRE category.
4. Except the specific guidelines mentioned above, all other terms and conditions of the scheme ‘Housing Finance Scheme for Public’ circulated vide RBD(A) 74/2018 and subsequent circulars will remain unchanged.
4.1 Presently, RLLR is not applicable to other variants of Housing loan i.e. Max Saver, Gen Next, Pradhan Mantri Awas Yojna (PMAY), PNB Flexible Housing loan and Overdraft against Housing Loan.
28. 1. Bank has decided to offer Retail Loans linked with External Benchmark i.e. Repo Linked Lending Rate (RLLR) under floating rate option.
2. To take care of regulatory guidelines and to give an option to prospective borrowers, a new scheme of Car Loan linked to RLLR has been launched under the name of ‘PNB ADVANTAGE CAR LOAN’.
PNB 3. As per the new scheme PNB Advantage Car Loan, following modifications have been incorporated viz-a-viz existing ‘Scheme for financing purchase of Car by public’:--
Advantage i) Rate of interest (ROI) linked with RLLR will be applicable under floating option only.
ii) Separate Scheme code and Rate of Interest Codes have been customized as under:--- Scheme Code: TLPVR; ROI and Interest table codes:---
Car Loan Scheme/Borrower Type ROI (Based on Repo Rate)
Women (Floating) Irrespective of CICs Score RLLR+ 0.60 (RCARW)
PNB PRIDE (Floating) RLLR+ 0.60 (RCARP)
Corporates (Floating) RLLR+ 0.60 (RCARC)
Others Individual (Floating) CIC Score 750 & above RLLR+ 0.60 (RA750)
CIC Score 700 and up to 749 RLLR+ 0.80 (RU749)
CIC Score less than 700 RLLR+ 1.05 (RL700)
(RBDA: iii) The rates linked with RLLR shall be applicable in the fresh accounts opened under scheme.
39/ iv) In case the existing borrowers want to switch to new scheme namely ‘PNB Advantage Car Loan’ under the RLLR of interest before the expiry of the existing contracts, the new/revised rate structure should be
27.08.19) mutually agreed upon by the bank and the borrower through supplementary agreement. Also, the notice-cum-acceptance letter for shifting to RLLR system shall be obtained from borrower.
4. Except the specific guidelines mentioned above, all other T&C of the scheme for ‘Financing purchase of Car by public’ circulated vide RBD (A) 83/2018 and subsequent circulars will remain unchanged.
29. 1. Bank has decided to offer Retail Loans linked with External Benchmark i.e. Repo Linked Lending rate (RLLR) under floating rate option.
2. To take care of regulatory guidelines and to give an option to prospective borrowers, a new scheme of Mortgage Loan linked to RLLR has been launched under the name of ‘PNB Advantage Mortgage Loan’.
PNB 3. As per the new scheme PNB Advantage Mortgage following modifications have been incorporated viz-a-viz existing scheme of Finance Against Immovable Property as under:---
Advantage i) Rate of Interest linked with RLLR will be applicable under floating option only.
ii) Separate Scheme code and Rate of Interest & Interest Table Codes are customized as under:--- Scheme code:--- Term Loan: TLPIR, Overdraft: ODPIR
Mortgage PNB Score/ PNB Rate of Interest
Loan Trac ROI for Overdraft ROI for Term Loan
A1 / > 80 RLLR +1.65% (REA1M) RLLR +1.75% (REA1L)
A2 / > 70 ≤ 80 RLLR +1.75% (REA2M) RLLR +2.25% (REA2L)
A3 / > 64 ≤ 70 RLLR +2.00% (REA3M) RLLR +2.45% (REA3L)
(RBDA: A4 / > 58 ≤ 64 RLLR +2.35% (REA4M) RLLR +2.75% (REA4L)
40/ B1 / > 52 ≤ 58 RLLR +2.55% (REB1M) RLLR +3.00% (REB1L)
27.08.19) B2 / > 46 ≤ 52 RLLR +3.00% (REB2M) RLLR +3.50% (REB2L)
B3 / > 40 ≤ 46 RLLR +3.50% (REB3M) RLLR +4.00% (REB3L)
B4 / > 35 ≤ 40 RLLR +4.00% (REC1M) RLLR +4.50% (REC1L)
C1 / > 25 ≤ 35 RLLR +4.50% (REC2M) RLLR +5.00% (REC2L)
C2 / > 25 RLLR +5.50% (REC3M) RLLR +6.00% (REC3L)
iii) The rates linked with RLLR shall be applicable in the fresh accounts opened under scheme and renewal of existing loan accounts.
iv) In case the existing borrowers want to switch to new scheme under RLLR of interest before the expiry of the existing contracts, the new/revised rate structure should be mutually agreed upon by the bank
and the borrower through supplementary agreement. Also, the notice-cum-acceptance letter for shifting to RLLR system shall be obtained from borrower.
4. Except the specific guidelines mentioned above, all other T&C of the ‘Scheme for Finance against Immovable property’ circulated vide RBD (A) 88/2018 and subsequent circulars will remain unchanged.
Scheme Important Guidelines
30. 1. To strengthen the Banks tie-up with Department of Post (DoP) & India Post Payment Bank (IPPB) and to tap quality business opportunity available, it has been decided that Customized Offerings under
Retail Lending Schemes, i.e Housing Loan, Car Loan & Personal Loan scheme, be framed for confirmed employees of IPPB & DoP. In view of the above, concession in ROI under Housing Loan and Car Loan
Retail along with customized offerings under Personal Loan Scheme has been offered to the confirmed employees of DoP & IPPB.
Loan 2. Concession in the Rate of Interest:--- i. Housing Finance Scheme for Public. ii. Scheme for Purchase of Car by Public.
Schemes Scheme Offered ROI to the Employees of DoP & IPPB Upfront & Doc Charges
HL Scheme NIL
for the Limit Up to Rs. 75 L Limit above Rs. 75 L
For Public
Employe Floating 1 Y MCLR + 0.10% 1 Y MCLR + 0.15%
Fixed Floating + 0.50% Floating + 0.50%
es of
Car Loan Floating - 1 Y MCLR + 0.50% irrespective of CICs Score. Fixed – 1 Y MCLR + 0.85%.
DoP & The loans sanctioned under the above arrangement will mandatorily be required to be covered under Credit Life Insurance.
IPPB 3. Personal Loan Scheme for Public/LIC agents:-- The parameters customized for Personal Loan Scheme for the employees of DoP & IPPB are as under:--
i. Nature of Loan: Term Loan; ii. Amount of Loan: Minimum –Rs. 10000/-; Maximum– Rs. 200000/- or 20 times monthly net salary whichever is lower depending upon the repaying capacity
(RBDA: subject to minimum Net monthly salary of Rs. 12000/- in all population segment. iii. Repayment: Maximum 48 months or remaining period of service, whichever is less;
37/ iv. Maximum Permissible deduction: 50% of Net Monthly Salary; v. ROI: 1 Year MCLR + 1.50%;
07.08.19) vi. Upfront Fee: 1% of loan amt. Min Rs. 400/-, Doc charges—Nil, Processing fee would be shared between PNB & IPPB to cover the processing cost in a 50:50 ratio.
vii. Security: No Third party guarantee. However, Loan to be covered by a Group Credit Life. Undertaking by IPPB & DoP for attachment of the terminal dues if loan is outstanding at the time of
superannuation of the employee. viii. PNB score will not be applicable. ix. All other T&C of “Personal Loan Scheme for Public/LIC agents” will remain unchanged.
1. The provisions of the Act- Real Estate (Regulation & Development) ACT (RERA), 2016 made essential for every promoter to get the subject project registered with the Real Estate Regulatory
31. Authority (RERA) and to comply with all requirements as laid down by the Act. Consequently, the bank before undertaking any exposure for project/unit need to ensure that all compliance be made on
the part of the promoters/ developers so as to protect the interest of the consumers in the Real Estate Sector. The Act also provides for establishment of an adjudication mechanism for speedy dispute
Housing redressal and also to establish an Appellate Tribunal to hear appeals on the decision/ orders of the Real Estate Regulatory Authority. The said Act, being a central legislation, is further to be adopted by
Finance the States and Union Territories. It is imperative that unless the subject project is registered with RERA and complied with its rules, no financing to the real estate be undertaken.
2. Salient features of the Act are as under:---
Scheme i) Registration of the project:-- No promoter without registration with the RERA under the Act, shall advertise, market, book, sell or offer for sale or invite person to purchase any plot, apartment or
For building in any real estate project in any planning area. The projects which are on-going and for which the completion certificate has not been issued, are also required to be registered by the promoters
Public – within a period of 3 months. The Act empowers the RERA to enforce registration of the project even beyond the planning areas.
However, no registration of the Real Estate Project shall be required:---
RERA a) Where the area of the land proposed to be developed does not exceed 500 sq. mtrs. or the number of apartment proposed to be developed does not exceed 8 apartments. However, the Act
Guidelin empowers the Central Govt. to reduce the aforesaid threshold limits below 500 or 8 apartments. b) Where it relates to only renovation, repair or redevelopment.
ii) 70% of the amount realised for the Real Estate Project from the allottees shall be deposited in a separate account to be maintained in a scheduled bank to cover the cost of construction and the cost of
es
the land and shall be used for that purpose. The promoter shall withdraw the amount from such separate account in proportion to the percentage of the completion of the project. Such withdrawal from
the separate account shall be made after it is certified by an engineer, an architect and a chartered accountant that the withdrawal is in proportion to the percentage of the completion of the project. The
(RBDA: 07/ promoter’s account shall be audited within six months after the end of every financial year and the promoter shall produce a statement of account, duly certified, that the amount collected for a particular
02.02.19) project have been utilised for the project and withdrawal has been in compliance with the proportion to the percentage of completion of the project.
iii) Grant of Registration:-- On receipt of application for registration of the real estate project, the RERA shall within a period of 30 days, grant/reject registration.
iv) Cap of Advance:-- The Act provides that a promoter shall not accept a sum more than 10% of the cost of the apartment, plot or building as an advance payment or an application fee from a person
without entering into a written agreement for sale with such person.
v) Transfer of project:-- The promoter shall not transfer or assign his majority rights and liabilities in respect of a real estate project to a third party without obtaining prior written consent from the 2/3rd
allottees and without prior written approval of the authority.
vi) Return of amount and compensation:-- If the promoter fails to complete or is unable to give possession in accordance with the terms of agreement for sale, he shall be liable on demand to the
allottees to return the amount received by him with interest at such rates as may be prescribed under the Act. Where an allottee does not intend to withdraw from the project, the promoter shall pay
him interest for every month of delay till the handing over of the possession.
vii) Right and Duties of Allottees:--The allottee shall be entitled to obtain information relating to sanction plan, stage wise time schedule of completion of the project, possession of apartment, plot or
building and also possession of common areas, necessary documents and plan etc. All along, the allottee shall be responsible to make necessary payments in the manner and within the time as specified in
the said agreement for sale and to take physical possession of apartment, plot or building within a period of two months of the occupancy certificate issued for such apartment, plot or building.
viii) Filing of complaint with the authority: Any aggrieved person (including association of allottees or any voluntary consumer association) may file a complaint with the authority/ Adjudicating Authority.
ix) Recovery of interest/penalty/compensation:-- If a promoter or an allottee fails to pay any interest/penalty/compensation imposed upon him by the Adjudicating Officer or the Regulatory Authority or Appellate
Authority, it shall be recoverable from such person in such manner as may be prescribed as an arrears of land revenue.
x) Punishment for non registration:-- A promoter who fails to get his project registered with the RERA within a time prescribed i.e. 3 months from the commencement of the Act, shall be punishable to a penalty
which may extend upto 10% of the estimated cost of the real estate project as determined by the authority. If he does not comply with the order or continues to violate the provisions of Sec. 3 requiring registration
of the project, he shall be punishable with imprisonment for a term which may extend upto three years or with fine which may extend upto a further 10% of the estimated cost of the real estate project or with both.
xi) Bar of Jurisdiction of Civil Courts:-- No civil court shall have jurisdiction to entertain any suit or proceedings in respect of any matter which the authority, adjudicating officer or appellate tribunal is empowered by
or under this Act to determine and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any powers conferred by or under this Act.
32. 1. Under the Mission “PARIVARTAN” for Improving Asset Quality, Increasing Credit under Retail, Improving Turn Around Time and bringing Retail Business on Digital Lines, it has been
decided to provide an on-line portal to branches headed by officers upto scale III for uploading loan documents under Retail Lending Schemes and getting the same vetted by RAPC/ CO
Online before disbursement of loan. It is facilitation but not a substitution of the responsibility of the sanctioning authority. The web portal titled as “e-VeDA” (Electronic Verification of Document
Vetting of and Approval) is developed by HO: ITD.
Loan 2. Vetting of loan documents is to be done in the following retail lending schemes: i) Housing Finance Scheme for Public (All variants). ii) Overdraft facility to existing housing loan
Documents borrowers for personal needs. iii) Education Loan (All Variants), iv) Scheme for Financing purchase of Car by Public, v) Scheme for finance against Immovable Property (ODIP) - PNB
by BAGHBAN, vi) Personal Loan scheme for Public.
RAPC/CO 3. The loan against bank deposits, government securities and gold jewellery/ornaments and gold coins (due to availability of liquid security) & personal loan to pensioners are excluded
for from the scope of vetting.
4. For all the circle offices having RAPC(s), loan documents of independent branches headed by officers upto scale III will be vetted/approved by RAPC Heads.
Branches
For other circles not having RAPC loan documents will be vetted by the designated Scale IV officer at circle offices.
headed by
5. All the independent branches upto Scale III (not attached with RAPCs) will sanction all the retail loans within their vested powers. The LGBs (Branches attached with RAPCs) will sanction
Officers retail loans (other than the loans being sanctioned by RAPC) within their vested powers. Both independent branches and LGBs will upload the documents for vetting pertaining to loans
Upto sanctioned under their vested loaning powers through e-VeDA portal.
Scale III 6. The scope of the portal is for vetting of loan documents at post- sanction and pre-disbursement stage. RAPC/CO user will visit e-VeDA portal and will scrutinize the complete set of loan
(RBDA: documents to ensure that proper pre-sanction appraisal has been done, documents/ papers are properly analyzed and no required document is missing.
92/ 01.10.18
70/18.09.18 7. Personal corporate e-mail ID is mandatory for E-VeDA portal user creation.
10/18.01.18) 8. By Circle Office:-- Prompt creation of user id and password of all the BO/RAPC users for Bureau One, CERSAI, CPTS, LAPS, PNB Score and e-VeDA portals.
9. All the documents received by the RAPC/CO are to be approved within 24 hours subject to a maximum of 48 hours in exceptional cases.
33. 1. INTRODUCTION: PNB CLAPS (Centralised Loan Appraisal and Processing 3. Following Retail loan schemes will be processed in CLAPS w.e.f. 16.04.2019:--
Centralize System) is a new In-House web based application to appraise and process i) HL (Including Variants – PNB Gen Next, PNB Max Saver, PNB Flexible Housing, OD to existing Housing Loan
d Loan the retail loan applications received by the bank. It is independent and borrowers); ii) PMAL (All Variants – EWS, LIG, MIG); iii) Car Loan;
Appraisal responsive browser and can support all available browsers like Chrome and iv) Two-Wheeler Loan (Sarthi and Power Ride);
And Internet Explorer. PNB CLAPS is an initiative taken by HO: RBD to prepare v) Personal loan Scheme for Public (Including variants for LIC agents & PNB Doctor’s Delight);
Processing the software in user friendly manner keeping in view the extant guidelines vi) Personal Loan Scheme for Pensioners;
System of retail loan schemes. The tool takes care of eligibility, loan amount vii) Scheme for Finance against Mortgage of Immovable Property.
(CLAPS– calculation, integration of PNB score, appraisal, decision, documentation
RETAIL) and account opening in CBS. 4. Detail of URL address of CLAPS: URL for Home page to PNB CLAPS is https://10.192.18.33/CLAPS
2. All Retail Lending schemes (Except Education Loans, PNB Baghban, (This URL address not to be added in compatibility view setting)
RBDA: 18/ Advance against Gold Jewellery/Gold Coins/Sovereign Gold Bond & EMD) - CLAPS link is also available on Non CBS page --→RBD ---→ CLAPS
16.04.19
are processed through CLAPS w.e.f. 16.04.2019. Processing of Education - For better performance of CLAPS, it is advised to use Google Chrome 66 and above version or Internet
loans will continue to be processed through existing Lending Automation Explorer preferably Version 11. Updated Chrome Version may be downloaded from CLAPS Login Page.
Processing System (LAPS) tool available in intranet with- URL
10.192.18.153/LAPS
34. Vidya Lakshmi Portal (VLP) an Electronic Platform to apply for Education Loan:----
Vidya 1. Based on the recommendations of the IBA Working Group on Education Loan Scheme, NSDL e-governance has developed the portal, named as “Vidya Lakshmi Electronic Platform”.
Lakshmi 2. The application lodged by the students are downloaded by the bank and processed by them. After the application is processed, the status is to be uploaded by the Bank on the Portal.
Portal 3. Role of Bank: The education loan applications lodged on the portal are stored in the respective Bank’s Folder on the Portal. The bank downloads the application alongwith documents and
forwards it to the Preferred Branch identified by the applicant for processing and disposal. The applications will be forwarded to the preferred branch at branch’s Email ids with an
(VLP)
endorsement to respective Circle Office. Presently, the user id on the Portal has been allotted to Retail Assets Division, HO.
(RBDA: 4. All the fresh education loan proposals from 01.02.2018 onwards should compulsorily be routed through Vidya Lakshmi Portal.
05/19.01.16; 5. Branches are required to focus on maximizing coverage of girl students in consonance with the priority of the Government of “Beti Bachao Beti Padhao”.
34/08.05.17;
26/06.04.18) 6. All education loan applications received at branches physically (other than received on line through VLP) are to be first entered in VLP Portal (www.vidyalakshmi.co.in) by the student. If,
due to lack of access to internet facility, any application is received in physical form, the same should be uploaded on VLP immediately after sanction by the bank. Further, all education loan
application sanctioned w.e.f. 01.02.2018 may be uploaded in VLP Portal immediately.
7. An enrolment charge of Rs. 100/- (excluding GST) is to be borne by the students whose application has been sanctioned after invoice is raised by NSDL.
35. 1. BACKGROUND: Presently Online Loan Application System for Housing, Vehicle & Personal Loan Scheme is hosted on the corporate website of the Bank (www.pnbindia.in). The Online Loan
Application System has been revamped and integrated with the PNB Score & CIR from credit rating agencies. Facility of uploading the scanned copy of documents required for sanction of loans by the
applicant has also been made available.
Online 2. Salient features:--
Loan i. A hyperlink ‘Apply on line for loans’ has been placed at Bank’s corporate website www.pnbindia.in.
Application ii. The allotment of circle will be on the basis of the branch opted for disbursement by the applicant.
iii. Acknowledgement of `Online Application’ along with in-principal sanction shall be issued to the applicant by the system instantly.
System iv. Applicants have been provided with the facility to upload the relevant documents i.e KYC document, Income Proof, etc.
For 3. The Roles and Responsibilities of Zonal Office, Circle Office & Branches:---
A. Zonal Office:--
Housing, i. ZO to login into the portal at least twice a day, First at 11 am and second at 04 pm to ensure that no leads received by the Circles under their jurisdiction remain unattended for more than 48 hours.
Vehicle & ii. HO will follow-up with the Zones to ensure that all the leads are attended within 48 hours of receipt of lead.
Personal B. Circle Office:--
i. COs to login the portal at least twice a day, First at 11 am and second at 04 pm to ensure that no leads received by the branch under their jurisdiction remain unattended for more than 48 hours.
Loan C. Branches:--
Schemes i. All branches are required to login the portal at least twice a day First at 11 am and second at 04 pm to ensure that no leads received by the branch remain unattended for more than 48 hours.
ii. To contact the applicant through sending email/Fax/phone for further processing of the case under copy to Circle Office.
iii. To update the status of each application on daily basis i.e. approved/declined/under process.
RBDA: 23/ 5.The Online Loan Application Monitoring application is accessible through URL: https://10.192.11.98/OnlineBackOffice/login.jsp
06.06.19 6. Accessibility:-- A link “Online Loan Application” for Housing, Personal and Car Loan is accessible through URL: https://www.pnbnet.org.in/ONLINELOAN/.
36. 1. Now, it has been decided to onboard the Retail Loan Products in the Online PSB Loans Portal. In the said process initially Housing Loan & Personal Loan Product has been created in the Portal. The
portal will convey ‘in principal’ approval for Retail loans under the above two schemes to the applicant. Complete Pre-Sanction appraisal to be carried out, before regular/final sanction.
Contactless 2. The portal integrates advances financial technology (Fin Tech) to ensure seamless loan approval. The process is under taken without human intervention and maximum data is fetched from
Loan To various portals. The portal will do various back end checks available at various portals for fraud and data available in bureau portal.
3. The platform has two main components: i) Borrower: Retail Loan Borrower, ii) Lenders: Bank’s & financial institutions.
The Retail
4. Work flow of borrower applicant:-- The applicant borrower to visit the portal through www.psbloansin59minutes.com or through PNB specific URL i.e. www.psbloansin59minutes.com/pnb.
Loans
The applicant borrower can also reach the portal through PNB’s web page www.pnbindia.in.
Borrower 5. Work flow of Bank:--
Through i. Branches to visit the portal through www.psbloansin59minutes.com. The product creation of the bank has been done at HO Level. However, the monitoring of loan application submitted by the
Online applicant till its sanction is to be done by branches.
Portal ii. The Zone, Circle and Branch level staff to login with the same users available with them to view MSME Loan applications received by the bank through market URL or PNB specific URL. Branches
“PSBLoansin5 to download the application for pre sanction processing.
9minutes” iii. The branches will get complete data on real time basis from the portal in the following formats, which will be used for processing the loan proposal by the branch official, while considering the
same, as per extant guidelines:--- a. Customer profile, including co-borrower’s profile. b. Financial for the last three years (ITR). c. Risk score assessed through model, inbuilt in the portal.
d. Analysis of bank’s statement of the applicant for last six months. e. Loan eligibility amount/Assessment of limit. f. Provident fund check of applicant, if applicable.
(RBDA:
g. CIBIL and other bureau data of the applicant. h. ‘Hunter analysis’ (Back end checks for multiple fraud, bureau checks, MCA site checks and bank’s product policy checks.)
43/
31.08.19) 6. The portal platform has three phases:---
Phase Portal platform Division Journey/Work to be executed by
Phase I Filing of application on portal by the applicant borrower. Retail Loan borrower/applicant
Phase II Processing of in-principle approved application online through portal by the lender. Banks/Lenders
Phase III Marking of final disposal of loan application by the lender. Banks/Lenders
As of now, our bank has opted for Phase I and Phase III only. So all our communications relate to Phase-I and Phase-III only.
7. Different URLs of The Platform and its uses:--The platform has three main URLs:-- www.psbloansin59minutes.com, www.psbloansin59minutes.com/pnb, www.psbloansin59minutes.com/sidbi
8. Once the users at HO are created, the user can login to the portal with two options as under:---
Option Mode of Login User ID Password
I Email ID Registered email ID of the user Default password ‘123456’ and then the user is to change the password.
II Mobile No. Registered Mobile No. of the user Instant ‘OTP’ received on mobile
37. 1. Fixation of Monthly EMI: EMI be fixed in such a manner that the 12. Monitoring/ follow-up actions of Retail Loans:---
due date of 1st installment falls due on the same date on which 1st i) Monitoring to start 30/7 days before due date of EMI
System disbursement has been made. - Follow-up for recovery to start 30/7 days before the due date of EMI through System generated SMS.
2. End Use Verification: On disbursement of loan, verification/ - In case of loan having moratorium period, the 1st SMS to be sent 30 days before the due date of EMI, followed by
Of Inspection of securities be done immediately. 2nd SMS 7 days before the due date of EMI and 3rd SMS 1 day before the due date of EMI.
Monitor 3. Recovery of EMIs: For effecting timely and regular recovery, it be - In case of education loan 1st SMS to be sent 30 days before the repayment start date.
ing Loan ensured as under: ii) Follow – up Actions to be taken within the first 30 days of irregularity (i.e. between 1 – 30 days):
A/Cs i) At location where NACH (Debit) is available -- Recovery/repayment - On the due date i.e. 1st day, EMI be collected. (HLADSP be used, wherever required.)
of EMIs in all Retail Loan accounts be considered only through NACH - In case of non receipt of EMI on due date, a system generated SMS be sent on next day.
Under (Debit) mandate of the customers for debiting their accounts. - In case of non receipt of EMI upto 3rd day from the due date of EMI, again a SMS be sent on 4th day.
Retail ii) At location where NACH (Debit) is not available – Recovery/ - Borrower(s) be contacted telephonically between 8th- 9th day from the due date of EMI..
Lending repayment of EMIs in all Retail Loan accounts be considered through - If the irregularity is not rectified, borrower be contacted personally by branch official on 10th day.
PDCs/Standing Instruction. - On 15th day, another telephonic contact with the borrower and first reminder be sent between 21st to 25th day.
Schemes
4. SMS ALERTS shall be used as one of the measures of escalation for - On the 30th day, 1st meeting of the borrower be held with Branch official and official of the Circle Office. If the borrower is not
the purpose of monitoring of recovery in retail loans. available, the family members be contacted.
5. Recovery in Loans: To maintain better quality of the loan portfolio, iii) Follow – up Actions to be taken between 31st days to – 60th day of irregularity:
timely recovery of bank’s dues is crucial. - On the 33rd day 2nd reminder be sent to borrower with a copy to guarantor. Borrower(s) be contacted for the 3rd time over
(RBDA: 6. Monitoring of Special Mention Assets (SMA): Monitoring of telephone (3rd telephonic call) between 37th to 40th day from the date of default. Further, first telephonic call to guarantor and
08/
accounts under SMA will be done on daily basis by pulling the data Second reminder be issued with copy of the same endorsed to guarantor, wherever available.
18.02.19)
from CBS system and immediate steps shall be initiated for - On the 45th day from the due date of EMI, 2nd Meeting of borrower with Branch official and 2nd man of CO.
regularization of such accounts. - On the 55th day from the due date of EMI, 3rd Meeting of borrower with Branch official and 2nd man of CO.
7. Periodic actions: Maintenance of due date diary for monthly EMI, iv) Follow – up Actions to be between 61st days to – 90th day of irregularity:
Periodical checking of security, Renewal of insurance and maintaining - If the account remains overdue for 60 days, a Registered Reminder be issued between 61st to 65th day of default/irregularity
its due date register, Verification of office/residential address, and a copy be endorsed to guarantor(s), wherever available.
Renewal of CRs, Maintenance of record of PDCs/NACH, BC letters, - In case EMI remains overdue upto 74th day, meeting of the borrower be held with Branch Incumbent and Circle Head on 75th
Execution of SI, Charging of incidental/Inspection charges and penal day, wherein he/she be explained the implications of non-rectification of default/irregularity
interest, etc. - Borrower(s)/ guarantor(s)/family members be contacted personally by Branch Head before the end of the 90th day from the
8. Menu Options ‘HLADSP’: Loan Lien And Demand Satisfaction date of default.
Process-- For recovering EMIs. By invoking HLADSP lien can be v) Follow–up Actions to be taken consequent to account being classified as NPA A/cs):
marked in the Operative A/c of the Customer to the extent of - Asset classification norms for treating the account as NPA, be strictly adhered to.
‘Effective Available Balance’. - Follow up for recovery of Bank dues be made strictly in terms of extant guidelines.
9. Menu Options ‘HLAODR’: For issuing system generated reminders. 13. Advances given to person engaged in agriculture & allied activities: For advances given to persons engaged in agriculture &
10. Menu Options ‘LETGEN’: For recording of follow-up action in CBS. allied activities where repayment schedule has been fixed by sanctioning authority at half yearly/yearly intervals coinciding with
11. Proper Track of Borrower/Guarantor: Incumbents to contact the time of harvest, follow-up for recovery to start 3 days before the due date and the follow-up to be made on continuous basis till
borrowers at regular intervals for updation of address, telephone/ recovery of Bank dues.
mobile numbers, UIN, PAN Number and e-mail id, etc.,
38. Background: Borrowers under Retail Lending Schemes: Jan Suraksha 1) Pradhan Mantri Suraksha Bima Yojana [PMSBY] - for accidental death insurance. - The borrowers availing credit
Scheme:--- During PSB Manthan in November, 2017, PSB reform - Accidental/Disability Insurance coverage up to Rs. 2 Lacs. under PMAY–EWS/LIG and
Jan agenda “Ease of Access Service Excellence” (EASE) was approved. In - Age: 18 Yrs to 70 Yrs. - Premium: Rs.12/- per annum. Education loan under PNB-
Suraksha view of this it has been advised by the ministry for expansion in Micro- 2) Pradhan Mantri Jeevan Jyoti Bima Yojana [PMJJBY] - for life insurance cover. Kaushal be tapped on priority
insurance coverage by tagging with MSME, disbursements to cover - Bank account holders are eligible in age group of 18 to 50 Yrs. basis for availing the benefits of
Scheme
borrowing individuals & employees of borrowing entities, under - Cover upto Rs. 2 Lacs for death due to any reason. - Premium: Rs. 330/-- per annum. Security Schemes as the life risk
Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan 3) Atal Pension Yojana [APY] - Minimum guaranteed pension to citizens with a focus on un- is covered under PMJJBY and
(RBDA:
19/ Jyoti Bima Yojana. The capital infusion by the Government is organized sector. PMSBY at a nominal cost and
15.03.18) dependent on PSB performance on these reforms themes. - Fixed Pension Yojana, - All Citizens are eligible, - Age: 18 Yrs to 40 Yrs regular pension is guaranteed
- Minimum fixed pension at the age of 60 years depending upon the contribution. under APY.
39. Optional Group Insurance Life Cover to Borrowers -- Met Loan & Life Suraksha’ (MLLS):--- Bank has in place a scheme ‘Met Loan & Life Suraksha’ (MLLS) -- a PNB Met Life Product for extending Group Life
Met Loan Insurance Coverage for Housing Loan, Education Loan, Vehicle Loan and Personal loan borrowers of the Bank. The group insurance cover is an effective tool to safeguard the borrower’s family from the
& Life burden of repaying the loan outstanding and also to make these portfolios secured against the exigencies of the death of the borrowers during the tenor of loan.
Suraksha Now it has been decided to bring scheme of Finance Against Mortgage of Immovable Property under the ambit of optional Group insurance life cover. Salient features of the product is as under:---
(RBDA: 1. Policy Term: Minimum: 2 Yr for TL & 1 Yr for OD, Maximum: 30 Years;
100/ 2. Age at Entry: 18-65 Yr, Coverage Ceasing Age: 70 Yr;
05.11.18) 3. Sum Assured: Min—10000, Maximum—No Limit
Scheme A) Empanelment of Builders/Developers and B) Empanelment of Honorably retired C) Empanelment of Insurance/NSCs Agents, Govt. Approved
their sales representatives as Marketing employees & VRS optees of our Bank as Valuer/CAs/Tax Consultants, Real Estate Brokers etc., as Retail Loan
Associates (MAs); Marketing Consultants (MCs); Counselors (RLCs):
40. 1. Objective: In line with Direct Selling Agents 1. Objective: It is one of the initiatives in the 1. Objective: Focus of the bank in the matter of dispensation of credit is on Retail
(DSA)/ Marketing Agents engaged by many banks marketing front to increase our market share. Our and in order to catch the lead from various touch points, a policy, to empanel the
and HFCs/NBFCs for generating the business from all Honorable retired employees/ VRS optees Insurance Agents/NSCs Agents, Govt. Approved Valuer/CAs/Tax Consultants, Real
Empan the various touch points. Selection of housing loan irrespective of any cadre, may be empanelled as Estate Brokers etc., as RLCs in line with the DSAs empanelled by peer Public and
elment provider is influenced by the advice of the Marketing Consultants (MCs) for sourcing Home Private Sector Banks, is framed.
builder/developer and their sales representatives Loan applications. 2. Empanelment of Retail Loan Counselors (RLCs): RLCs shall be empanelled by the
of and they pass on information about the 2. Empanelment of Marketing Consultants (MCs): concerned ZM on the recommendations of concerned CH. For empanelment of
MA/ prospective buyers to the banks/FIs for a The Marketing Consultants shall be empanelled by Insurance Agents/NSCs Agents, Govt. Approved Valuer/CAs/Tax Consultants, Real
MC/ consideration. the concerned ZM on the recommendations of Estate Brokers etc as PNB’s RLCs, ZOs shall issue a notice inviting interested
2. Empanelment of Marketing Associates (MAs): concerned CH. Insurance Agents/NSCs Agents, Govt. Approved Valuer/CAs/Tax Consultants, Real
RLC In order to be in tune with the market and not to 3. Eligibility Criteria: Estate Brokers etc for empanelment as RLC.
lose business opportunities to our competitors, the (i) All Honorably Retired/VRS opted Employees 3. Eligibility Criteria:
builders/developers & their sales representatives (Irrespective of cadre); • Any Individual/entity working as Insurance Agents/ NSCs agent, Govt. Approved
be empanelled as our Marketing Associates (MAs) (ii) No adverse feature is observed in the latest CIR Valuer/CAs/Tax Consultants, Real Estate Brokers etc are eligible.
for promoting our Housing Loans. drawn from CIBIL and Equifax; • Age above 18 years, • Should have phone facility.
3. Eligibility Criteria: Only Builders/Developers and (iii) No case should be pending in CBI or before any • Should be local resident/office and able to communicate effectively in local language.
their Projects approved by the CH are eligible; Court of Law; • Should operate from his place. Bank will not provide any office/desk/infrastructure;
(RBDA: 4. Names of Center where Builders/Developers (iv) Should preferably be a local resident of the
75/ • Minimum qualification: Higher Secondary (HSC)/Sr. Secondary.
and their Sales representatives may be empanelled area with fluency in local dialect;
10.08.17) • His commitment, diligence and integrity should have been excellent during his service.
as MA:-- (v) Retired staff already empanelled as Recovery
• No case of CBI or other law enforcement agencies should not be pending against
a) Major ‘A’ class cities with their Urban Agent by PNB may be empanelled as MCs;
Agglomerations- Delhi, Mumbai, Chennai, Kolkata, (vi) Should not be working as business sourcing him/her.
Hyderabad, Ahmedabad, Bangalore. agent for any other bank/financial institutions for - RLC with sufficient means/resources/field experience will be considered for
b) All State Capitals with their Urban Agglomerations. sourcing of home loan leads; empanelment.
c) Other 43 centers with their Urban Agglomerations. - MC with sufficient means/resources/field - Application for empanelment would be received only at Circle office concerned.
experience will be considered for empanelment. -The CH shall recommend the name(s) of eligible candidate to concerned ZM for
ZMs are permitted to add/delete the names of empanelment as RLC after obtaining Police verification reports of the antecedents of
- Application for empanelment would be received
Centers within their Zones for empanelment of RLCs.
only at Circle office concerned.
builders/developers and their sale representatives - RLC will provide security of Rs.50000/- by way of BG or FD (under Bank’s lien).
4. Names of Centre where MCs may be
as MA. 4. Names of Centre where RLCs may be appointed: On PAN India basis.
appointed: On PAN India basis.
5. Service Charges to be paid to MA/MC/RLCs:---
i. 0.25% of the loan amount (inclusive of all taxes) for every lead forwarded to Bank which gets converted into business with a maximum of (MA—Rs. 100000/-, MC/RLC -- Rs 25,000/-) per
lead. ii. 50% of the service charges shall be paid after 1st disbursement and remaining 50% would be paid after making disbursement of 25% of housing loan amount sanctioned.
41. List of schemes which are reported under Retail Loan Segment has been amended as under: --
A) CORE RETAIL SCHEME:
Classifica
a) Housing Finance Scheme (public),
tion of
b) Overdraft Facility to existing housing loan borrowers for personal needs,
Advance c) Conveyance Loan (public) for car/ scooter/motor cycle/moped/bicycle,
under d) Education loan scheme,
Retail e) Personal loan scheme for public,
Segment f) Personal loan scheme for Pensioners,
g) Advance against gold and jewellery/Sovereign Gold Bonds,
(RBDA:68/ h) Finance against mortgage of immovable property (having sanctioned limit upto Rs. 5 crore),
14.09.18) i) Reverse Mortgage loan scheme.
B) NON- CORE RETAIL SCHEME: a) Advance against Bank Deposits, b) Advance against Govt./Liquid Securities, c) Earnest Money Deposit Schemes.

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RETAIL LENDING SCHEMES AT A GLANCE (AS ON 10.09.2019) (COMPILED BY R. C.

JHA, CM, CO: PUNE)

Scheme Other Imp. Guidelines (1 YR.MCLR-8.30%, w.e.f. 01.08.19)

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