Punjab & Sind Bank

Before you apply

• Register with Start-up India first, because the scheme requires DPIIT recognition.
• Check the promoter CIBIL score requirement early.

How to apply

• Apply for the loan through the Jansamarth portal, or at the nearest Punjab & Sind Bank branch.
• Any nearest branch can take the application, not only the designated ones.

Punjab & Sind Bank is a bank with its head office at 21, Rajendra Place, New Delhi. Its main route for startups is the PSB Start-up Scheme, which provides financial assistance to start-ups recognised by DPIIT for a range of business purposes.

How the scheme works

The scheme offers term loans and working capital, on a cash credit or non-fund based basis. Loans are secured against the assets they finance, stock, book debts or receivables, and intellectual property where the bank finances it. Term loans run for up to 7 years, with a moratorium of up to 1 year. Working capital is repayable on demand, subject to review.

Credit guarantee cover

The scheme's facilities carry cover under the Credit Guarantee Scheme for Startups (CGSS), administered by the National Credit Guarantee Trustee Company. The guarantee covers a share of the default amount, and the annual guarantee fee runs at 1–2% depending on category.

Who can apply

The scheme is open to start-ups working on innovation, development, or scalable business models. The applicant must be a private limited company, an LLP, or a partnership recognised under Start-Up India, registered with DPIIT and no more than 10 years from incorporation. A minimum promoter CIBIL score of 700 applies, with some exceptions allowed. Speculative and real-estate businesses are excluded.

Where to apply

The bank designates dedicated branches for the scheme in Hyderabad, Bengaluru and Gurugram. Applicants can apply at any nearest branch.