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    Punjab and Maharashtra Co-Operative Bank Business Loan

    Punjab & Maharashtra Bank Business loan

    Punjab and Maharashtra Co-Operative Bank is a multi-state scheduled urban co-operative bank operating in the states of Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh and Madhya Pradesh. The bank established its first single branch at Sion in 1984 and the bank currently has over 111 branches spread across 55 states in the country. It is one among the top 10 co-operative banks in the country. The bank offers deposit schemes, demat services, loans and NRI financial services. The bank is well known for its wide range of loan products including personal loan, mortgage loan, business loan and much more. Business loan is a type of personal loan for those engaged in any kind of business. This loan is usually offered to help one build on their business. There are secured business loans and unsecured business loans. In secured business loan, the borrower should use collateral in order to avail the loan. Business loans usually offer a very high loan amount along with a very attractive rate of interest.

    Business Loan by Punjab & Maharashtra Bank

    Punjab and Maharashtra Bank offers business loan that let individuals engaged in business to build on their business. The loan offers high loan amounts along with other benefits. Listed below are some of the salient features of the loan.

    • It is a business loan
    • Proprietary concerns, Registered Partnership firms, Companies are eligible
    • It is a term loan
    • The purpose of the loan is to provide finance for the purchase of factory /industrial 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 offered ranges from 14% p.a. to 17% p.a.
    • Offers a repayment period of 3 years with annual review
    • The maximum repayment period offered for lon on demand is 7 years
    • Minimum margin of 25%
    • Hassle free application process
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