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| PROFILE
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| In
1908, the bank was founded on the principle of social
commitment to help the weaker section of the society in
their economic endeavours to raise their standard of life.
The total business of the Bank stood at Rs.138952 Million
as on March 31,1999. The bank earned a Net Profit of Rs.600
Million in the last fiscal.The Bank has 726 branches and
128 extension counters as on 31.03.99. The Export-Import
turnover crossed Rs. 25060 Million as on 31.03.1999. The
Bank's Priority Sector Advances exceed the stipulated
target of 40%. Punjab and Sind Bank is the first bank
in Northern India to get ISO 9002 certification for its
selected branches. The Bank's Bond Issue was oversubscribed
by 2.6 times and till date enjoys the highest safety status
by the rating agency. The bank has opened an exclusive
Housing Finance Branch in order to cater the credit need
of the house aspirants. It has also opened a marketing
cell at Corporate Office to create new financial products
as per the needs and requirements of customers. |
| SCHEMES
AND FACILITIES PROVIDED BY PUNJAB AND SIND BANK |
SAVING
LINKED INSURANCE PLAN
For the benefit of its customers the Bank has drawn up
a scheme for compensation upto Rs 1 Lakh for Accident
Insurance cover for its saving bank account holders under
the Group Personal Accident Policy of National Insurance
Company Limited.
RECURRING DEPOSIT SCHEME
This scheme can be operated with any amount at a minimum
of Rs 10 and upto any amount per month. Under this Scheme,
any person (eligible as per rules) can open an account
and would be required to deposit a fixed amount in multiples
of Rs 10 every month. .
SPECIAL RECURRING DEPOSIT SCHEME
The account under this scheme can be opened by institutions/corporate
investors for their special needs. Individuals may also
join the scheme. The periodicity of instalments shall
be monthly, quarterly, half yearly or yearly. Instalments
irrespective of periodicity shall be in multiples of Rs
500 with a minimum of Rs 1,000. Minimum period for which
the deposits can be accepted shall be five years and the
maximum period shall be twenty years. Loans and advances
against the deposits may be granted as per RBI directives
and subject to borrowing powers in case of institutions.
LOAN LINKED DEPOSIT SCHEME
Under this scheme individuals except minors in single
or joint names can avail joint loan three times the amount
deposited by them over a period 2 to 5 years in monthly
instalments. The loans can be availed for scooter, car,
refrigerator, TV, VCR, Air Conditioner, Washing Machine,
construction / purchase of house. .
SARAL DEPOSIT SCHEME
Under the scheme account can be opened for a minimum period
of six months and upto ten years. It provides for variable
monthly instalments. Depositor shall have to open a Recurring
Deposit account in which a core monthly instalment of
Rs 10 or in multiples of Rs 10 shall be deposited. Interest
in the account shall be paid at uniform rate applicable
to a period of deposit decided in advance based on monthly
products reckoned on minimum balance lying in the account
between tenth and the last day of the month. No Penalty
is charged on delayed instalments. Premature withdrawal
is also permissible. Loan upto 90% of the deposit amount
outstanding inclusive of interest accrued can be allowed
after one year of the opening of the account.
DEPOSIT SCHEME FOR DEFENCE PERSONNEL
The special scheme for the Defence Personnel where the
depositor who has saved in their RD Account will be entitled
for a loan upto Rs 30,000 after a period of three years.
He can also save for a period of ten years in Variable
Monthly Instalments by opening a Recurring Deposit Account
with minimum core deposit of Rs 10 and a maximum of Rs
10,000 per month in multiples of Rs 10. In case funds
are required before ten years, they are available with
interest at 1% less than the rate applicable for the period
already run. Further, loans upto three times the amount
saved are available to help set up a business or manufacturing
unit after retirement. In deserving cases, the assistance
may be higher considering project cost and its financial
vialibility. In case of death or permanent disability,
this facility is extended to widow and / or dependents.
Pensioners drawing pension through us are also eligible
for a loan upto 6 months. Pensions for emergencies like
education for children, marriage of daughters, house repairs,
travel, payment of government liabilities, purchase of
consumer durables and so on.
FIXED DEPOSIT SCHEME
This is a scheme under which depositor can earn interest
quarterly / half yearly / yearly as per his requirements.
SAVING WITH A SMILE DEPOSIT SCHEME
It is a reinvestment plan deposit scheme, under which
compound interest is paid. The interest is compounded
at quarterly intervals but paid along with principal at
the time of maturity of deposit. Any amount of deposit
shall be accepted under this scheme from 36 months to
120 months.
CASH CERTIFICATES
Cash Certificates are issued to depositors for payment
of fixed amount after a fixed period time under this scheme.
Cash Certificates for various denominations ranging between
Rs 100 to Rs 50,000 are issued payable after a period
of 12 to 120 months as per the choice of depositor.
SHORT TERM DEPOSIT SCHEME
A scheme to give double benefit to depositor. Under this
scheme, the maturity yield on deposit is increased as
the interest on deposit also earns interest. A minimum
of Rs 100 and its multiples are accepted under the Scheme.
CAPITAL GAINS ACCOUNT SCHEME
This is a scheme under which the tax payers can avail
of benefits of exemption from Capital Gains, only if the
amount of Capital Gains or the net consideration is deposited
in Public Sector Banks on or before their due date of
filing the rate of return of income.
AASAN FIXED DEPOSIT SCHEME
Under this scheme any individual or individuals including
minors under guardianship, partnership firms, companies,
trust, etc. (as in the case of Fixed Deposit Account)
can open the fixed deposit account in units of Rs 1,000
but the minimum number of units will be five i.e. (1,000
x 5 = 5,000). Depositors may get payment of interest on
monthly / quarterly / half yearly / yearly basis or at
the time of maturity with quarterly compounding. The depositor
will have the facility of premature withdrawal of even
some of the units as per his requirements. The rate of
interest payable in respect of such units shall be as
applicable to the period for which such units remained
with the Bank. However remaining units shall continue
to earn interest as per contractual rate of interest.
PSB - INSTA CASH
Under this scheme the depositor can draw advance against
the FDR as and when required without visiting the bank
time and again. The depositor is to lodge the deposit
receipt with the bank and request for grant of overdraft
on the day the deposit is made. The overdraft against
fixed deposit can be granted upto 90% of amount of deposit.
For availing facility under the scheme a depositor will
be required to deposit a minimum of Rs 5,000. The interest
is charged 2% p.a. over the In addition to the specialised
services in Foreign Exchange all over India, our bank
has opened a fully computerized, automated & specialised
branch for NRIs known as GLOBAL BANKING CENTRE at B-Block
Connaught Place, New Delhi. |
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Financing
Ltd.
