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Punjab and Maharashtra bank: Personal banking

:

Saving Deposit Scheme : Savings account Who can open an account?
a. b. c. d. e. f. g. h. i. An Individual in his/her Capacity. More than one person jointly. An Illiterate Person A Blind/ Visually Impaired/ Incapacitated Perso A Guardian On Behalf Of Minor In The Minor'S Name Charitable / Religious Institutions Trust, Clubs, Association, Ngo Local Bodies, All Types Of Co-Operative Housing Societies And Such Other Bodies Of Identical Nature Staff Member

Rate of interest

4% P.A. On the basis of daily product

Interest credited on

Half Yearly

Initial deposit
 
Rs.500/- With Cheque Book Rs.250/- Without Cheque Book

Pass book

Issued to every savings account

Benefits
a. b. c. d. e. f. g. h. i. Any branch banking (ABB), inter Connectivity ATM facility Remittances-pay order, demand draft on any location in india Collection of outstation cheques Telebanking facility RTGS/ NEFT Facility SMS banking Internet banking E-Statement facility

ATM facility
a. b. c. Free ATM card/ INSTA card is issued. For the facility of cash withdrawal upto Rs.25000/- in a day from the account with our any branch of PMCB at any time of the day. Rs.10,000/- can be withdrawn in a day from the account with NFS network, BANCS network (i.e. other bank's ATMS can be used as per list)at any time of the day. Rs. 20/- Per transaction will be charged.

Minimum balance charges

If minimum balance is not maintained for both with cheque book and without cheque book accounts, minimum balance charges are charged at the rates as in force

Requirements
a. b. Copy of latest photograph Proof of residence (passport, driving license, ration card, voters card, electricity bill, telephone bill, latest bank account statement, Income tax/ wealth tax assessment order, Maintenance bill of society, registered leave and license agreement with proof of permanent address or Noterised Leave & License Agreement with a permanent address proof, etc) Photo identity proof (PAN card, voters ID card, passport, Driving license, senior citizen card, ADHAR card, ID card issued by the reputed employer etc) Introduction by person known and acceptable to the bank PAN with original for verification or declaration of form-60/61 Initial deposit in cash

c.

d. e. f.

General
a. Bank reserves the right to close any account, if cheque drawn are returned unpaid frequently for want of funds or the account is considered as irregular/ non-satisfactory. Account not in operation for more than two years will be treated as inoperative/ dormant account Bank reserves the right to alter, amend, rescind the rules from time to time

b. c.

Current deposit scheme: Current account Who can open an account?
a. b. c. d. e. f. g. h. i. j. k. l. An individual in his/ her capacity Two or more persons jointly Sole proprietory firm Partnership firm Hindu undivided family Private limited companies Public limited companies Non-governmental organisations Public corporations Registered societies/ associations/ clubs Etc Trusts Government/ Semi- government bodies/ departments

(Note-No current account shall be opened in the name of minor)

Initial deposit

RS.3000/-

Statement of account

Bank will issue statement of account to the account holder once in a month

Benefits
a. b. c. d. e. f. g. h. i. Any branch banking (ABB),inter connectivity ATM facility Remittances- pay order, demand draft on any location in india Collection of outstation cheques Telebanking facility RTGS/ NEFT Facility Sms banking Internet banking E-statement facility

ATM facility
a. b. c. Free ATM card/ INSTA card is issued. For the facility of cash withdrawal upto Rs.25000/- in a day from the account with our any branch of PMCB at any time of the day. Rs.10,000/- can be withdrawn in a day from the account with NFS Network, BANCS Network (i.e. other bank's ATMS can be used as per list) at any time of the day. Rs. 20/- Per transaction will be charged.

Minimum balance charges

If minimum balance is not maintained in the account, minimum balance charges are charged at the rates as in force

Requirements
a. b. Copy of latest photograph Proof of residence (passport, driving license, ration card, voters card, electricity bill, telephone bill, latest bank account statement, Income tax/ wealth tax assessment order, Maintenance bill of society, registered leave and license agreement with proof of permanent address or Noterised Leave & License Agreement with a permanent address proof, etc) Photo identity proof (PAN card, voters ID card, passport, Driving license, senior citizen card, ADHAR card etc) Introduction by person known and acceptable to the bank PAN with original for verification or declaration of form-60/61 initial deposit in cash Business activity proof Business Address proof Any other document as per the constitution of the firm (As per Annexture -1)

c. d. e. f. g. h. i.

General
a. b. c. Bank reserves the right to close any account, if cheque drawn are returned unpaid frequently for want of funds or the account is considered as irregular/ non-satisfactory Account not in operation for more than two years will be treated as inoperative/ dormant account Bank reserves the right to alter, amend, rescind the rules from time to time

Fixed Deposit : Who can open an account?
 
Individuals Two or More individuals in their joint names

    

Minors represented by the natural guardians Proprietory concerns/ partnership firms/companies Associations or any body corporates Hindu Undivided Families Trusts

Procedure for opening of an account:
a. b. c. d. e. f. Account opening form should be in the prescribed format & properly filled up and signed by the depositor like mainly Full name & address, occupation, amount of deposit, repayment condition, standing instructions if any, date of birth (in case of minor, opening form contains signature of the depositor/s. In case of individuals, the depositor gives the nomination form duly filled in. Passport size photo In case of deposits in the name of a minor, the date of birth certificate of minor is mandatory. The natural guardian should represent the minor. In case of the deposits of HUF, proprietory concerns, and other corporate bodies, the papers relating to their constitution should also accompany the account opening form. The Depositor may be requested to open a savings bank account to enable the bank to credit periodical interest on fixed deposit. He may also give a standing instruction to transfer the amount of periodical interest to an account maintained with other banks through ECS. Fixed Deposit account opening form, click here

g.

Operating instructions
   
Self Former or Survivor or No. 1 or Survivors Either or Survivors (E or S) Any one or more of them or Survivor or Survivors

Fixed deposit
a. b. c. d. e. f. Minimum amount for Fixed Deposit is Rs. 1000/-. Minimum period for deposits is 12 months and Maximum is 120 months. Interest can be paid on deposits periodically monthly/quarterly/half yearly & yearly. Pre maturity: Penalty clause as applicable. TDS applicable >10000 interest in a year (April-March). 15G-general depositors below 65yrs of age & 15H-for depositor’s above65yrs can also be obtained. Addition/deletion of names possible.

Recurring deposits:
a. b. c. d. e. f. g. h. i. Minimum amount of monthly installment is Rs. 100/- and in multiples of Rs. 100/- thereafter. The deposit is accepted for minimum period of 12 months and thereafter in multiples of 3 months subject to maximum of 120 months. Monthly installment amounts can not be changed and TDS is not applicable on recurring deposits. The depositor cannot change monthly installments during the pendency of deposit. The depositor is required to first pay monthly installments within the next calendar month of opening the account. Subsequent installments should be paid within next month. The deposit falls due for payment on the same day of opening of the account after a lapse of specified period. This due date is called ostensible due date,i.e. the deposit falls due for payment one month after the payment of last installment A passbook is given to the depositor for having opened a recurring deposit account incorporating all particulars. Payment of subsequent installments is also recorded in the passbook. In case pass book is lost, and the depositor requires duplicate pass book, a nominal fee as prescribed by the Central Office from time to time may be is levied for its issue. The depositor can give standing instructions for the transfer of periodical monthly installments from an operative account

Re-Investment deposits:
Beneficial for people who do not need money for a specific (longer) period in between at intervals. Minimum amount is Rs.1000. Minimum period for reinvestment deposits also starts with minimum 12months to 120 months. Accrued interest is compounded quarterly & credited to deposit a/c.

Demat Services : PMCB offers following demat services through its DP Cell.
The following are the demat services: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Account Opening Dematerialization and Rematerialisation Settlement and Transfer of Shares Pledge Freezing / Unfreezing of account Corporate Benefits IDeAS Facility – Internet based Demat Account Statements Conversion of Mutual Fund Units in Demat form (CRF) Account Closure and Transmission Reports and Miscellaneous FAQ Annexures

Service Charges for Demat Account

Sr. No. 1

Service

Individual & Others

Account Opening

NIL For Individual - Rs. 400 For Corporate - Rs. 1,000

2

Annual Maintenance Charges (A.M.C.)

4

TRANSACTION CHARGES

a) Market / Off Market / Inter-Depository Purchases

NIL 0.04% of market value with a minimum of Rs. 15 Rs. 3 per certificate, minumum Rs. 25 per request plus postal / courier charges of Rs. 25 Rs. 25 per certificate plus postal / courier charges of Rs. 25 Rs. 30 per transaction

b) Market / Off Market / Inter-Depository Sale

6

Dematerialisation

7

Rematerialisation

11

Late transaction charges

12

Additional statement

Rs. 5 per page

13

Account closing

NIL

15

Statements

a) Via email without customization

NIL

b) Via email but requires customization as per customer request

customer request Rs. 100 per statement

c) Via post or courier without any customization

Rs. 15 per page (subject to a min. of Rs. 100)

d) Via post or courier but requires customization as per customer request Apart from the above charges if the customer wants the statement to be delivered at his address, in addition to the above charges, delivery charges of Rs. 50 + actual conveyance charges, if any, will be levied.

Rs. 100 and Rs. 15 per page (subject to a min. of Rs. 200)

Loans:

Personal Loan : Purpose
The Bank offers Personal Loan for various purposes such as meeting medical expenses, renovation of residential accommodation, traveling, marriage etc. Loan amount The Maximum Loan Amount of loan is restricted to Rs. 2,00,000/- only.

Period of loan
Loan may be repaid in 36/48/60 Equated Monthly Installments (EMI).

Rate of interest
14.50* % p.a.

Margin
Not applicable.

Guarantee
Personal guarantee of two solvent third parties.

Consumer loan:
“Life is where the home is”, it is said. House is the most sacred, peaceful, and loving place one can think of. Apart from owning a house, equip with all the comforts and modern gadgets is dream of all of us. The Bank helps in realizing our dream by financing the purchase of consumer durables and utility articles such as fridge, washing machine, cooking range, computers, etc. under the head “Consumer loan”.

Purpose
For purchase of consumer durables and utility articles such as fridge, washing machine, cooking range, computers, etc. under the head "Consumer loan".

Loan amount
Cost or invoice value of the articles to be purchased subject to the maintenance of prescribed margin.

Period of loan

Maximum period of loan is 60 months. It should be paid in EMI.

Rate of interest
14.50* % p. a.

Margin
If the loan amount is less than Rs. 1,00,000/If the loan amount is more than Rs. 1,00,000/- Nil - 25 %

Guarantee
One or two solvent third parties depending on Loan amount.

Security
Hypothecation of the articles to be purchased.

Private car loan:
In the past, owning a car or two wheeler was matter of prestige and symbol of ones standard of living. Due to economic development and availability of variety of vehicles in the market, it has become a way of life. It leads to comfort of life and helps a person in his profession and vocation. It increases ones efficiency and income generation capacity. Realising this need of the person, the Bank has designed a loan scheme called “Car Loan Scheme"

Purpose
To purchase a four wheeler

Loan Amount
The loan amount covers the cost of the vehicle as per invoice, registration and one time tax in case of new vehicle and agreement value or market value, whichever is lower, in case of second hand vehicle after maintaining the prescribed margin.

Period of Loan
1. 2. New Vehicle - Maximum 5 years Second Hand Vehicle:

Age of the Vehicle
upto 1 year old upto 2 years old upto 3 years old upto 4 years old

Max Rep. period
60 months 48 months 36 months 24 months

Rate of Interest

Period
Upto 3 years Above 3 years to 5 years

for New and Second hand Car / Jeep/ Van
12.00* % p.a. 14.00* % p.a.

Margin
1. 2. New Car/Jeep/Van - 10% of invoice Value (Purchased from Authorised Dealer) - + RTO one time taxes Second Hand Vehicle

Make
BMW & Mercedes Maruti and Hyundai All Other Make

Upto 2 Years Old
30 % 40 % 50 %

Above 2 & upto 4 Years
50 % 50 % 50 %

Security
Hypothecation of the vehicle to be purchased.

Guarantee
One or two depending on the size of credit facility

Two wheeler loan:
“Two wheeler” is the vehicle of the common man. As service to the common man, two wheeler loan is considered by the Bank. The Bank grants the loan as Consumer durable loan.

Purpose
To purchase a two wheeler.

Loan amount
The loan amount covers the cost of the vehicle as per invoice, registration and one time tax in case of new vehicle.

Period of loan
Maximum period of loan is 60 months. It should be paid in EMI..

Rate of interest
14.50* % p.a..

Margin
Upto 1,00,000 - NIL Above 1,00,000 - 10% of Invoice

Security
Hypothecation of the vehicle to be purchased.

Guarantee
One or Two solvent third parties depending on loan amount..

Home loan:
Purpose
1. 2. 3. Purchase of residential accommodation like flats, bungalows, row houses, etc. Construction of flat / house, bungalows, etc. Addition / alteration to the existing residential accommodation.

Loan amount
Maximum upto Rs. 70 Lakh per beneficiary of a dwelling unit.

Eligibility amount lowest of the following:
1. 2. 3. 75% of Agreement value+ Stamp Duty + Registration Fees or 80% of market value or Amount as per income eligibility

Period
Ranging from 60 Months to 240 Months

Rate of interest
Fixed option 11.25 % p.a. Floating option 11.75 % p.a.

Borrower will be rated on the basis of credit rating parameters set by the bank while issuig initial sanction.

Pre-payment Charges
1. 2. For Housling Loan at FLOATING Rate of Interest No Pre-payment Penalty on Foreclosure For Housing Loan at FIXED rate of interest a. For Foreclosure through own sources: -No pre –payment Penalty. b. For Foreclosure through takeover:- Pre-payment Penalty @2% of outstanding Loan amount if prepaid within 2 years of disbursement

Education loan:
Education loan is granted for higher studies in colleges in India and abroad in any educational field in college affiliated with recognized universities, medical colleges, technical institutions, pharmaceutical colleges, Information Technology etc, so that students from poor & middle classes as well as brilliant and needy students can take advantages of the scheme. [The scheme will not cover any correspondence course].

Applicant
student is minor, Parents / Guardian will be applicant/s. In case student is above 18 years of age, he/she will be the applicant for the loan. The parents will be co-applicants.

Loan amount:

Minimum
Inland Foreign Rs.10,000/Rs.50,000/-

Maximum
Rs.10,00,000/Rs.20,00,000/-

Repayment period
If course period is less than 3 Years - 60 Months (inclusive of total moratorium period) If course period is more than 3 years - 84 months (inclusive of total moratorium period)

Rate of interest

Upto Rs.10.00 lakh
Inland Foreign Male Female Male Female 12.50%* p.a. 11.50%* p.a.

Above Rs.10.00 lakh
14.00 %* p.a. 13.00 %* p.a.

12.50%*p.a. 11.50%*p.a.

1% concession in rate of interest if interest is served during moratorium period

Moratorium period
Course period +6 months (No moratorium period for loan amount below Rs. 1.00 Lakh

Margin

Upto Rs. 2.00 lakhs
Inland Foreign

Above Rs.2.00 lakh

10% on Total Expenditure* 15% on Total Expenditure*

*(Total Expenditure includes Tuition fees, Term fees, Living Expenses, Travelling, Cost of Books, Examination fees, etc.) Scholarship should be included in the margin

Security
No Collateral Security For Loan upto Rs.5.00 Lakh *

Guarantor
1. 2. Two Guarantors In case of inland education loan if 100% Collateral Security is offered in the form of Immovable Property or Liquid Security then, No Guarantor required

Business loan /limit:
Applicant
Proprietary concerns, Registered Partnership firms, Companies

Purpose

Term loans for purchase of factory /industrial gala/ Shop, plant & machinery, equipment, furniture & fixtures etc, working capital in form of cash credit and non funded facilities in form of Bank guarantees and Letters of Credit

Rate of Interest

17.00*% p.a. (Based on rating)

Repayment period
On demand/ maximum up to 7* years

Margin
Minimum - 25%.

Services:

8 to 8 Banking
 
PMCB works from 8:00 am to 8:00 pm rendering uninterrupted service. The bank also works on Sundays and public holidays for facilitating banking services to service class.

Any branch banking
Core Banking Solution (CBS) has facilitated any branch banking to the customers. PMCB also provides token less Banking for convenience at no additional cost. Branches in Mumbai: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Sion Vikhroli Andheri Mulund Ghatkopar Bhandup Versova Kandivili Carnac Oshiwara Fort Bandra Chembur

Safe and quick mode of remittance

A step towards E- Banking – PMCB provides RTGS/NEFT facility for immediate fund transfer anywhere in the country for marginal charges.
E- Payment of taxes
The Bank provides the service to the customers to pay their taxes through e- payment. Advance Tax, Self Assessment Tax, Taxes on Regular Assessment, Tax Deducted at Source, Wealth Tax/Securities Transaction Tax, Hotel Receipts Tax/Interest Tax/Estate Duty, Expenditure to other Tax/Gift Tax, Fringe benefit Tax, Centralised Service Tax (CST),Value Added Tax (VAT),Service Tax, Central Excise Duty.

Visa debit card
PMCB provides the customers International Debit Card having access to the benefits privileges and extensive reach of the global VISA network.

SMS Banking/ Mobile banking

Customers who have registered for SMS Banking can get instant information of their accounts’ activities any new schemes, prod ucts launched by the bank. PMCB facilitates transaction through mobiles.

Internet banking
Internet Banking will facilitate the Customers to View The Account, Download The Statement, Cheque Book request and Fund transfer.

Interconnected ATM’s
Through the NFS & BANCS ATM Network and Interconnected ATM’s, more than 85,000 ATMs across India are available at the disposal of the Bank’s customer, wherein they can withdraw money.

Locker facility
PMCB provides locker facility to all its customers. Operation of lockers is available throughout the Banking hours.

Special facilities
1. Charitable Institutions & Senior Citizens are given 100% discount on the charges of preparing Pay-order. Students preparing Pay-Order in the name of an Institution or University conducting their exams are given 100% discount on the charges for Pay-Order amount not exceeding Rs.500/-. Customers having an account with our bank for a minimum period of 12 months, are given 50% discount on the existing charges of preparing pay orders.

2.