Punjab and Sind Bank Home Loan

Punjab & Sind Bank
4.5

Punjab & Sind Bank Home loan options are tailored to each client's requirements. Customers can easily check their eligibility and apply for a house loan from Punjab & Sind Bank because of its simple documentation requirements. Punjab & Sind Bank provides a variety of home loan alternatives to match consumers' different demands, all with flexible repayment options and low-interest rates. Additionally, the bank has a committed customer care team who can assist clients with the loan application process and answer any queries.

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Punjab & Sind Bank

Punjab & Sind Bank Home Loan

  • Interest Rate

    8.55% - 10%

  • Loan Amount

    ₹5L - ₹5Cr

  • EMI Per Lakh

    ₹2,054 - ₹2,125

  • Processing Fees

    Up to 1.00% of loan amount
  • Pre-Payment Charges

    NIL

Features & Benefits of Punjab & Sind Bank Home Loan

The founders' philosophy of keeping a customer-centric approach, is now upheld by the Punjab & Sind Bank, which is now a public sector bank with its presence spread across India. Despite the nation's severe lack of affordable housing, PSB's house loans align with India's homeownership traditions. Punjab & Sind bank home loan requirements can be met by any individual who dreams of owning a home.

Familiarise yourself with how to apply for Punjab & Sind Bank home loan and understand its interest rates, features and eligibility criteria.

The features and benefits of the PSB home loan are given below:

  • Affordable interest rates
  • The 30-year loan repayment period is offered. Aditya Birla Finance Home Loan will be solely responsible for managing all loans.
  • Quick distribution of funds.
  • transparent process, with few complications.
  • Home loans with variable rates don't have prepayment penalties.
  • Everyone has access to an interesting balance transfer feature.
  • At your door services

Punjab & Sind Bank Home Loan Fees and Charges

Punjab & Sind Bank home loan requirements can be met by paying a fee. The fees charged by the bank are different for each scheme, and the charges differ according to the loan amount. The table below points out the fees and charges:

PSB Apna Ghar

Processing Fee Up to INR 25 lakh: 0.15% of the loan amount  (INR 1,000 - 3,750)  INR 25 lakh - INR 50 lakh: 0.25% of the loan amount (Up to INR 12,500)  INR 50 lakh - INR 75 lakh: 0.25% of the loan amount (up to INR 15,000)  INR 75 lakh and above: INR 0.25% of loan amount
Documentation Charges As per actuals
Prepayment Charges NIL

PSB Apna Ghar Top-Up

Processing Fee Up to INR 10 lakh- 0.15% of loan amount (INR 1,000 - 3,750)
Documentation Charges As per actuals
Prepayment Charges NIL

PSB Kisan Home Loan

Processing Fee Up to INR 10 lakh- 0.15% of the loan amount (INR 1,000 - 2,000)

Documents Required for Punjab & Sind Bank Home Loan

The documents required for Punjab & Sind Bank home loan are given below:

  • Application for a loan
  • ID documents including a passport, driving licence, PAN card, and Aadhaar card.
  • such as a utility bill, an Aadhaar card, or a driver's licence, serve as address evidence.
  • Salary slips, Form 16, IT returns, a P&L statement, and a balance sheet are examples of proof of income documentation.
  • Personal Asset and Liability Statement
  • For another bank, a bank account statement for the last six or twelve months
  • Statement of loans for the last six months (if obtained from another bank or FII)
  • biographical information including schooling, employment history, age, and the nature of one's career or business.
  • ITR of the guarantor for the past two years Income evidence of the spouse, earning children, or parents to establish the loan amount and repayment capacity
  • Guarantor's form and income or net worth documentation
  • An agreement from the employer on the payment of EMI
  • Evidence of the advance or margin payment made for the purchase of the dwelling
  • construction permission from the appropriate authority
  • copy of the prospective development or purchase's approved map or plan
  • Sale contract, sale deed, and a comprehensive estimate of the land to be built
  • Letter of allotment from the cooperative society, the development authorities, and the apartment owners' association.

Types of Punjab & Sind Bank Home Loan

Punjab and Sind Bank Apna Ghar Home Loan

If you have a dream of owning a home someday, then Punjab and Sind Bank is the right choice for you. The bank caters to a diverse range of housing needs. Thus, whether you are looking to buy a new home or reconstruct your house, the Punjab and Sind Bank home loan offers a tailored solution to meet your specific requirements.

Purpose: Punjab and Sind Bank Apna Ghar Home Loan is versatile in nature, accommodating various housing needs, including:

  • Purchase of a new dwelling unit
  • Construction of a house
  • Acquisition of a plot followed by construction
  • Extension, repair, renovation of an existing home

Eligibility: The eligibility criteria for Punjab and Sind Bank Home Loan is inclusive, extending the loan offering to:

  • Individuals
  • Groups of individuals
  • Individual members of housing societies
  • It ensures that a broad spectrum of applicants can avail themselves of the financial support needed to secure their dream home.

Age Criteria: Applicants must be at least 18 years old to qualify. The maximum age is determined based on the repayment period, ensuring that the loan is accessible to a wide demographic, from young adults to older individuals.

Quantum of Finance

The financial aspect of Apna Ghar Home Loan is meticulously structured to meet diverse needs:

  • For construction or Purchase: need-based finance is available, meaning there’s no set maximum limit, offering substantial flexibility based on the individual’s requirements and repayment capacity.
  • For Repairs/Renovation/Additions/Alterations: Applicants can avail themselves of up to Rs. 20 lakh, ensuring that existing homeowners can conveniently maintain and enhance their property.

Punjab & Sind Bank Home Loans Schemes/Products with Interest Rates

Following are the Punjab & Sind Bank Home Loan Schemes with interest rates:

PSB Apna Ghar & Kisan Home Loan
CIBIL Credit Vision Score Spread Effective EBLR %
791 and above 0.1 8.55
768-790 0.25 8.7
753-767 0.4 8.85
732-752 0.6 9.05
690-731 0.95 9.4
641-689* 1.55 10
PSB Apna Ghar Sahaj & Gaurav
CIBIL Credit Vision Score Spread Effective EBLR %
791 and above 0.05 8.5
768-790 0.2 8.65
753-767 0.35 8.8
732-752 0.55 9
690-731 0.9 9.35
641-689* 1.4 9.85

How Can You Calculate the EMI For Punjab & Sind Bank Home Loan?

In the long run, your work may be made simple and hassle-free if you calculate your EMIs before even applying for a loan. Find the ideal tenure, interest rate, and loan amount using the Urban Money home loan EMI calculator. However, you can use the following formula to calculate the EMIs by hand:

EMI = (P × r × (1+r)^n)/((1+r)^n-1)

Here,

  • ‘P’ depicts the principal amount, 
  • ‘r’ depicts the interest rate
  • ‘n’ depicts the tenure of the loan.

FAQs

From refinancing to reducing your interest, we have the answers right here.

Does Punjab and Sind Bank Provide Home loans at the best rate?

Yes, Punjab & Sind Bank Provide Home loans at the best rate.

What is the interest rate of a Home Loan in Punjab and Sind Bank?

PSB offers an interest rate of 7.05% on the home loan amount.

What are the benefits Punjab and Sind Bank Provides on Home Loan?

Government employees and women receive a concession of 0.10% on the interest rate as a benefit.

Does Punjab and Sind Bank have a fixed interest rate on a home loan?

Yes, Punjab & Sind Bank has a fixed interest rate on a home loan.

What documents are required in Punjab and Sind Bank for a home loan?

To know about the complete list of documents required in Punjab & Sind Bank for a home loan, you must read the documents required section of the page.

How to apply for a home loan in Punjab and Sind Bank online?

Visit the official page of PSB. A bank representative will guide you through the process.

How to check Home Loan Status in Punjab and Sind Bank?

To check your home loan Status in Punjab & Sind Bank, contact the customer care number at 18004198300.

Does Punjab and Sind Bank check for CIBIL Score for Home Loan?

Yes, Punjab & Sind Bank checks for CIBIL score for a home loan.

What is the maximum and minimum home loan amount I can get from Punjab and Sind Bank?

The maximum and minimum home loan amount I can get from Punjab & Sind Bank is INR 5 lakh and INR 5 crores, respectively.

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