Do I have to pay any margin money to avail Punjab and Sind Bank Conveyance Loan for purchasing a used vehicle? If yes, how much margin money do I have to pay for it?
Yes, margin money is mandatory to be paid in order to avail the loan. Currently, Punjab and Sind Bank demands a minimum margin of 25% of current market value the vehicle.
Will I receive any concession on interest or fees?
Yes, a 100% concession on processing fee is being offered to Staff members or Retired employees of Punjab and Sind Bank or if borrower is a pensioner drawing pension through the bank.