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PNB introduces new loan scheme for traders

Under the Super Trade scheme, finance would be available to a large number of traders to meet their requirements.

india Updated: Mar 25, 2006 15:16 IST

Punjab National Bank has introduced a new scheme for financing traders and service sector, aimed at helping them with their need for finances.

The service would be called Super Trade and under the scheme, finance would be available to a large number of traders to meet their requirements.

For assessing the financial needs, the bank will require no other financial documents except for sales tax returns. The primary security will be hypothecation of stocks and recievables.

The rate of interest would be linked to the value of immovable property offered as collateral security.

First Published: Mar 25, 2006 14:50 IST