Punjab and Sind Bank Home Loan Calculator

  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Punjab and Sind Bank Home Loan Calculator- An Overview

Punjab and Sind Bank, one of India's main public zone banks, gives several domestic mortgage merchandise to assist clients in acquiring their dream of proudly owning a home. To help clients make informed selections of their financing options, the financial institution provides an online home loan calculator. This calculator considers various factors, along with mortgage quantity, interest fee, loan tenure, and processing costs, to offer customers an estimate of their monthly payments and average loan prices. By using this device, clients can, without problems, calculate their EMI and decide the affordability of their loan before they decide. The home mortgage calculator is a useful device that helps clients keep time and make knowledgeable decisions approximately their domestic mortgage.

Punjab and Sind Bank Home Loan Calculator - Key Features

The ability of the Punjab and Sind Bank Home Loan Calculator to provide customers with an accurate estimate of their monthly EMI payments and overall loan costs is a key feature. This online tool considers various factors, including loan amount, interest rate, loan tenure, and processing fees, to give customers a clear picture of the total amount they will have to repay over the loan term. Another essential feature of this calculator is its accessibility and ease of use, as customers can use it from anywhere and at any time to calculate their EMI and make informed decisions about their financing options. The Punjab and Sind Bank Home Loan Calculator is an excellent resource for customers looking to buy a home.

Why Should You Use Punjab and Sind Bank Home Loan EMI Calculator?

Anyone looking to take out a home loan should use the Punjab and Sind Bank Home Loan EMI Calculator. Customers can use this online tool to calculate their monthly EMI payments and the overall cost of their loan, allowing them to plan their finances better and make informed decisions about their financing options. This calculator shows customers their loan affordability and assists them in avoiding overborrowing. Furthermore, customers can use this tool from anywhere and anytime, making it quick and convenient. Overall, using the Punjab and Sind Bank Home Loan EMI Calculator is necessary to make an informed decision about your home loan.

Punjab and Sind Bank Home Loan EMI Calculator Formula & Example

The following parameters are used in the Punjab and Sind Bank Home Loan EMI Calculator formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

  • EMI stands for Equated Monthly Installment.
  • P denotes the principal amount (loan amount).
  • R = Monthly interest rate
  • N = Loan duration in months.

Assume you obtain a home loan from Punjab and Sind Bank with a principal amount of INR 30 lakhs and an annual interest rate of 7.5% for a loan term of 20 years (240 months). Using the formula, the EMI will be calculated as follows:

EMI = [3000000 x 0.00625 x (1+0.00625)^240]/[(1+0.00625)^240-1]

= INR 24,748; as a result, your monthly EMI payment for the home loan will be INR 24,748 for the entire 20-year loan term. Using the Punjab and Sind Bank Home Loan EMI Calculator, you can quickly and easily calculate your EMI payments and plan your finances.

Benefits of Using Punjab and Sind Bank Home Loan EMI Calculator

The following are the advantages of using the Punjab and Sind Bank Home Loan EMI Calculator:

  • Calculations are accurate and reliable: The EMI calculator calculates your monthly EMI payments and overall loan costs.
  • Saving time: Using the online tool saves time that would otherwise be spent on manual calculations.
  • Simple to use: The calculator is simple to use, with an easy-to-understand interface that requires little input.
  • Use the calculator to plan your finances and make informed decisions about your loan tenure, principal amount, and interest rate.
  • Overborrowing is avoided: The calculator assists you in avoiding overborrowing and incurring debt that may be difficult to repay.
  • Available around the clock: The calculator is available 24 hours a day, seven days a week, allowing you to calculate your EMI whenever possible.
  • Prepayments: Loan principal prepayments can reduce the outstanding loan amount, resulting in a lower EMI.

Factors Affecting Punjab and Sind Bank Home Loan EMI

Several factors influence the EMI of a Punjab and Sind Bank home loan. The most critical factors are:

  • Loan amount: The interest rate is proportional to the loan amount. A more significant loan amount results in a higher EMI.
  • The interest rate has a direct proportional relationship to the EMI. Higher interest rates result in higher EMIs, while lower interest rates result in lower EMIs.
  • Loan tenure: The EMI varies inversely with loan tenure. A longer loan term results in a lower EMI, whereas a shorter loan term results in a higher EMI.
  • Processing fees: The bank's processing fees can also impact the EMI. Higher processing fees raise the overall loan cost, resulting in higher EMI. 
  • Prepayments: Loan principal prepayments can reduce the outstanding loan amount, resulting in a lower EMI.

Punjab and Sind Bank Home Loan Amortisation Calculator

Punjab and Sind Bank Home Loan Amortization Calculator is a tool that assists customers in understanding their home loan repayment schedule. It computes the amortisation schedule, which breaks down each EMI payment into its principal and interest components over the loan term. The amortisation schedule shows the exact amount of principal and interest that will be paid off with each EMI payment, giving customers a detailed overview of their repayment schedule. It also displays the outstanding loan balance following each payment and the total interest paid over the loan term.

Amortisation Schedule for a Home Loan of ₹ 35 Lakh Over 15 Years

Assuming a 7.5% annual interest rate, the amortisation schedule for a 35 lakh home loan from Punjab and Sind Bank over 15 years would be as follows:

Year Opening Balance EMI Interest Principal Closing Balance
1 3,500,000 33,955 262,500 71,038 3,428,962
2 3,428,962 33,955 256,717 76,820 3,352,142
3 3,352,142 33,955 250,579 82,959 3,269,183
4 3,269,183 33,955 243,987 89,550 3,179,633
5 3,179,633 33,955 236,934 96,603 3,083,031
6 3,083,031 33,955 229,412 104,125 2,978,906
7 2,978,906 33,955 221,413 112,124 2,866,782
8 2,866,782 33,955 212,928 120,609 2,746,173
9 2,746,173 33,955 203,949 129,588 2,616,585
10 2,616,585 33,955 194,468 139,069 2,477,516
11 2,477,516 33,955 184,474 149,064 2,328,452
12 2,328,452 33,955 173,959 159,579 2,168,873
13 2,168,873 33,955 162,914 170,624 1,998,249
14 1,998,249 33,955 151,329 182,209 1,816,040
15 1,816,040 33,955 139,197 194,341 1,621,699

Punjab and Sind Bank Home Loan EMI for ₹ 10 Lakhs

The EMI for a Punjab and Sind Bank Home Loan of 10 lakhs over 10 years at 7.5% per annum is as follows:

Payment Month Opening Balance EMI Interest Component Principal Component Closing Balance
1 ₹10,00,000 ₹12,362 ₹6,875 ₹5,487 ₹9,94,513
2 ₹9,94,513 ₹12,362 ₹6,818 ₹5,544 ₹9,88,969
3 ₹9,88,969 ₹12,362 ₹6,760 ₹5,603 ₹9,83,365
4 ₹9,83,365 ₹12,362 ₹6,702 ₹5,661 ₹9,77,704
5 ₹9,77,704 ₹12,362 ₹6,643 ₹5,720 ₹9,72,984
6 ₹9,72,984 ₹12,362 ₹6,584 ₹5,779 ₹9,68,205
7 ₹9,68,205 ₹12,362 ₹6,524 ₹5,839 ₹9,63,366
8 ₹9,63,366 ₹12,362 ₹6,464 ₹5,898 ₹9,58,468
9 ₹9,58,468 ₹12,362 ₹6,403 ₹5,959 ₹9,53,509
10 ₹9,53,509 ₹12,362 ₹6,341 ₹6,020 ₹9,48,489

Punjab and Sind Bank Home Loan EMI for ₹ 20 Lakhs

The EMI for a Punjab and Sind Bank Home Loan of 20 lakhs over 10 years at 7.5% per annum is as follows:

Payment Month Opening Balance EMI Interest Component Principal Component Closing Balance
1 ₹20,00,000 ₹24,723 ₹10,417 ₹14,306 ₹19,85,694
2 ₹19,85,694 ₹24,723 ₹10,354 ₹14,369 ₹19,71,325
3 ₹19,71,325 ₹24,723 ₹10,290 ₹14,433 ₹19,56,893
4 ₹19,56,893 ₹24,723 ₹10,225 ₹14,498 ₹19,42,396
5 ₹19,42,396 ₹24,723 ₹10,160 ₹14,563 ₹19,27,833
6 ₹19,27,833 ₹24,723 ₹10,095 ₹14,628 ₹19,13,204
7 ₹19,13,204 ₹24,723 ₹10,029 ₹14,694 ₹18,98,510
8 ₹18,98,510 ₹24,723 ₹9,963 ₹14,760 ₹18,83,750
9 ₹18,83,750 ₹24,723 ₹9,896 ₹14,827 ₹18,68,923
10 ₹18,68,923 ₹24,723 ₹9,829 ₹14,894 ₹18,53,029

Punjab and Sind Bank Home Loan EMI for ₹ 25 Lakhs

The EMI for a Punjab and Sind Bank Home Loan of 25 lakh over 10 years at 7.5% per annum is as follows:

Payment Month Opening Balance EMI Interest Component Principal Component Closing Balance
1 ₹25,00,000 ₹30,904 ₹12,938 ₹17,966 ₹24,82,034
2 ₹24,82,034 ₹30,904 ₹12,852 ₹18,052 ₹24,64,982
3 ₹24,64,982 ₹30,904 ₹12,765 ₹18,139 ₹24,47,843
4 ₹24,47,843 ₹30,904 ₹12,678 ₹18,226 ₹24,30,617
5 ₹24,30,617 ₹30,904 ₹12,590 ₹18,314 ₹24,13,303
6 ₹24,13,303 ₹30,904 ₹12,502 ₹18,402 ₹23,95,901
7 ₹23,95,901 ₹30,904 ₹12,413 ₹18,491 ₹23,78,410
8 ₹23,78,410 ₹30,904 ₹12,324 ₹18,580 ₹23,60,830
9 ₹23,60,830 ₹30,904 ₹12,234 ₹18,670 ₹23,43,160
10 ₹23,43,160 ₹30,904 ₹12,144 ₹18,760 ₹23,25,400

Punjab and Sind Bank Home Loan EMI for ₹ 30 Lakh

The EMI for a Punjab and Sind Bank Home Loan of 30 lakhs over 10 years at 7.5% per annum is as follows:

Payment Month Opening Balance EMI Interest Component Principal Component Closing Balance
1 ₹30,00,000 ₹37,085 ₹15,626 ₹21,459 ₹29,78,541
2 ₹29,78,541 ₹37,085 ₹15,532 ₹21,553 ₹29,57,988
3 ₹29,57,988 ₹37,085 ₹15,437 ₹21,648 ₹29,37,340
4 ₹29,37,340 ₹37,085 ₹15,342 ₹21,743 ₹29,16,597
5 ₹29,16,597 ₹37,085 ₹15,246 ₹21,839 ₹28,95,758
6 ₹28,95,758 ₹37,085 ₹15,150 ₹21,935 ₹28,74,823
7 ₹28,74,823 ₹37,085 ₹15,053 ₹22,032 ₹28,53,791
8 ₹28,53,791 ₹37,085 ₹14,956 ₹22,129 ₹28,32,662
9 ₹28,32,662 ₹37,085 ₹14,858 ₹22,228 ₹28,11,434
10 ₹28,11,434 ₹37,085 ₹14,760 ₹22,325 ₹27,90,109

Punjab and Sind Bank Home Loan EMI for ₹ 50 Lakh

The EMI for a Punjab and Sind Bank Home Loan of 50 lakhs over 10 years at 7.5% per annum is as follows:

Year Principal Amount Interest Amount Total Amount Balance 
1 174,303 333,364 507,667 46,82,697
2 190,778 316,889 507,667 44,91,919
3 208,101 299,566 507,667 42,83,818
4 226,327 281,340 507,667 40,57,491
5 245,512 262,155 507,667 38,12,979
6 265,719 241,947 507,667 35,47,261
7 286,996 220,670 507,667 32,60,265
8 309,402 198,264 507,667 29,50,862
9 333,000 174,666 507,667 26,17,862
10 357,854 149,812 507,667 22,60,008
11 384,026 123,640 507,667 18,76,982
12 411,582 96,084 507,667 14,65,400
13 440,593 67,073 507,667 10,24,807
14 471,132 36,534 507,667 5,53,675
15 503,275 4,391 507,667 0
 

Frequently Asked Questions (FAQs)

What happens if Punjab and Sind Bank home loan EMI is missed?

If a borrower misses a Punjab and Sind Bank home loan EMI, they’ll be charged a penalty charge. The penalty charge varies depending on the mortgage amount and the variety of days late. Failure to make timely bills could also affect the borrower’s credit score rating, making it tough for them to achieve a credit score in the future. The bank may additionally take the legal movement to recover the brilliant mortgage quantity.

Can I change my housing loan EMI date for Punjab and Sind Bank?

Yes, changing the housing loan EMI date for Punjab and Sind Bank is feasible. However, the borrower should touch the financial institution and make a formal request. The bank might also require the borrower to submit positive files to guide their request. Converting the EMI date may additionally result in extra expenses or trade within the loan compensation timetable.

How does your home loan repayment work in Punjab and Sind Bank?

Punjab and Sind Bank’s home loan repayment works on an Equated Monthly Installment (EMI) basis. This manner that the borrower needs to pay a hard and fast amount of money each month, which includes both the most important and hobby quantity. The EMI amount is calculated based on the loan amount, repayment tenure, and interest charge. Borrowers also can pick to make prepayments or partial payments in the direction of the loan, which can assist in reducing the hobby burden and shorten the reimbursement tenure.

What is the Punjab and Sind Bank home loan processing fee?

The Punjab and Sind Bank home loan fee is generally 0.25% of the loan quantity, subject to a minimal and most quantity. This rate is non-refundable and should be paid prematurely during loan utility. The bank can also price different charges together with criminal and valuation charges.

Why should I calculate Punjab and Sind Bank housing loan emi before taking a loan?

Calculating the Punjab and Sind Bank home loan EMI before taking a mortgage is important as it helps borrowers apprehend the month-to-month instalment they need to pay towards the loan. By calculating the EMI, debtors can determine the mortgage quantity they’re eligible for, primarily based on their earnings and reimbursement potential. This can help borrowers make informed decisions and select a mortgage suitable for their monetary state of affairs.

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