Punjab & Sind Bank Home Loan Interest Rates

4.5

Punjab & Sind Bank offers home loans starting from INR 5 lakhs with an interest rate of 8.6% and above per annum. Moreover, female applicants (employed) get an additional 0.10% rebate on Punjab & Sind Bank home loan interest rates. Individuals from rural and semi-rural areas can take advantage of PSB Kisab Home Loan schemes. Additionally, Punjab & Sind Bank offers an array of housing finance schemes to cater to the distinct requirements of a broad customer base. 

  • Home Loan offer for You

  • 8.55% - 10%

    Interest Rate (p.a.)
  • ₹5L - ₹5Cr

    Tenure(3 - 10 Years)
  • ₹2,054 - ₹2,125

    EMI Per Lakh
  • 8.55% - 10%

    Interest Rate (p.a.)
  • ₹5L - ₹5Cr

    Tenure(3 - 10 Years)
  • Up to 1.00% of loan amount

    Processing Fee

Compare Punjab & Sind Bank Home Loan Interest Rates with Other Lenders

Before fixating on your home loan decision, you must know how Punjab & Sind home loan interest rates are better than other home loan products in the market. To make your decision easy, we have compared the home loan interest rates offered by different banks.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • 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 & Sind Bank Home Loan Highlights 

Here's the highlight of PSB housing finance offerings:

  • Affordable interest rates from 8.6% onwards 
  • Flexible repayment tenure of up to 30 years. 
  • Easy approval and prompt distribution of funds for existing customers.
  • Home loans with variable rates don't have prepayment penalties.
  • Everyone has access to balance transfer home loans to enjoy the benefits of lower interest rates.
  • At-your-door services

Punjab & Sind Bank Home Loan Interest Rates - Schemes Wise

Before applying for a Punjab & Sind Bank home loan, you must acquaint yourself with the housing scheme and the related rate of interest offered.

We have curated a list of PSB housing finance schemes and offered rates to make it easy for you. 

Note: Current PSB Repo Linked Rate = 8.29% (It is inclusive of Repo Rate = 6.25 (+) Markup = 2.04)

EBLR = PRLR (+) Spread

Punjab & Sind Bank Home Loan Interest Rates for PSB Apna Ghar

PSB Apna Ghar 

CIBIL Score Spread (In Per cent) Effective EBLR ( In Per cent)
768 to 900 0.41% 8.70%
753 to 767 0.51% 8.80%
732 to 752 0.71% 9.00%
690 to 731 // -1,3,4,5 1.06% 9.35%
641 to 689 (Subject to Conditions) 1.41% 9.70%

Punjab & Sind Bank Home Loan Interest Rates for PSB Kisan Home Loan

PSB Kisan Home Loan 

CIBIL Score Spread (In per cent) Effective EBLR ( In per cent)
768 to 900 0.41% 8.70%
753 to 767 0.51% 8.80%
732 to 752 0.71% 9.00%
690 to 731 // -1,3,4,5 1.06% 9.35%
641 to 689 (Subject to Conditions) 1.41% 9.70%

Punjab & Sind Bank Home Loan Interest Rates for PSB Apna Ghar Sahaj

PSB Apna Ghar Sahaj

CIBIL Score Spread (In per cent) Effective EBLR (In per cent)
768 to 900 0.31% 8.60%
753 to 767 0.41% 8.70%
732 to 752 0.61% 8.90%
690 to 731 // -1,3,4,5 0.96% 9.25%
641 to 689 (Subject to Conditions) 1.31% 9.60%

Punjab & Sind Bank Home Loan Interest Rates for PSB Apna Ghar Gaurav

PSB Apna Ghar Gaurav

CIBIL Score Spread (In per cent) Effective EBLR (In per cent)
768 to 900 0.31% 8.60%
753 to 767 0.41% 8.70%
732 to 752 0.61% 8.90%
690 to 731 // -1,3,4,5 0.96% 9.25%
641 to 689 (Subject to Conditions) 1.31% 9.60%

Punjab & Sind Bank Home Loan Interest Rates for PSB Apna Ghar Top Up

PSB Apna Ghar Top Up

CIBIL Score Spread (In per cent) Effective EBLR (In per cent)
768 to 900 0.76% 9.05%
753 to 767 0.86% 9.15%
732 to 752 1.06% 9.35%
690 to 731 // -1,3,4,5 1.41% 9.70%
641 to 689 (Subject to Conditions) 1.86% 10.15%

Punjab & Sind Bank Home Loan Interest Rates for PSB Mortgage

PSB Mortgage

CIBIL Score Spread (In per cent) Effective EBLR (In per cent)
768 to 900 1.51% 9.80%
753 to 767 1.61% 9.90%
732 to 752 1.81% 10.10%
690 to 731 // -1,3,4,5 2.41% 10.70%
641 to 689 (Subject to Conditions) 2.76% 11.05%

Punjab & Sind Bank Home Loan Interest Rates for PSB Sukhmoney (Reverse Mortgage Loan Scheme)

PSB Sukhmoney (Reverse Mortgage Loan Scheme)

  CIBIL Score Spread (In per cent) Effective EBLR (In per cent)
Up to INR 20 lakh 768 to 900 2.21% 10.50%
753 to 767 2.31% 10.60%
732 to 752 2.51% 10.80%
690 to 731 // -1,3,4,5 2.86% 11.15%
641 to 689 (Subject to Conditions) 3.56% 11.85%
Above INR 20 lakh 768 to 900 2.71% 11.00%
753 to 767 2.81% 11.10%
732 to 752 3.01% 11.30%
690 to 731 // -1,3,4,5 3.36% 11.65%
641 to 689 (Subject to Conditions) 4.06% 12.35%

PSB Home Loan Interest Rate for Salaried and Self-Employed

Punjab & Sind Bank provides home loans to salaried and self-employed professionals. However, the interest rate offered may vary based on the applicant's eligibility and creditworthiness, starting from 8.60% onwards.

Punjab & Sind Home loan Interest Rates for Salaried Employees

Loan Amount Offered Home Loan Interest Rate
Up to INR 30 lakh 8.60% onwards
INR 30 lakh to INR 75 lakh 8.60% onwards
INR 75 lakh to INR 1.50 Crore 8.60% onwards
More than INR 1.50 Crore 8.60% onwards
 

Punjab & Sind Home loan Interest Rates for Self-Employed

Loan Amount Offered Home Loan Interest Rate
Up to INR 30 lakh 8.60% onwards
INR 30 lakh to INR 75 lakh 8.60% onwards
INR 75 lakh to INR 1.50 Crore 8.60% onwards
More than INR 1.50 Crore 8.60% onwards

Punjab & Sind Bank Home Interest for Govt Employee

Government employees are eligible for Punjab & Sind home loans with interest rates starting from 8.60% onwards to 11% per annum.

Punjab & Sind Home loan Interest Rates for Government Employees

Loan Amount Offered Home Loan Interest Rate
Up to INR 30 lakh 8.60% onwards
INR 30 lakh to INR 75 lakh 8.60% onwards
INR 75 lakh to INR 1.50 Crore 8.60% onwards
More than INR 1.50 Crore 8.60% onwards

Punjab & Sind Bank Home Loan Interest Rate For Women

Punjab & Sind Bank offers additional benefits to female loan applicants who are working professionals. Punjab & Sind Bank home loan interest rates for women are 0.10% lower than the ones generally offered by the bank. However, you must adhere to the home loan eligibility criteria to enjoy the benefits of lower interest rates.

Punjab & Sind Bank Home Loan Interest Rate and Other Charges

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

PSB Apna Ghar Fees and Charges

Specifics Fees and Charges
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 the loan amount
Documentation Charges As per actuals
Prepayment Charges Not Applicable 

PSB Apna Ghar Top-Up Fees and Charges

Processing Fee Up to INR 10 lakh- 0.15% of the loan amount (INR 1,000 - 3,750)
Documentation Charges As per actuals
Prepayment Charges Not Applicable 

PSB Kisan Home Loan Fees and Charges

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

How to Calculate Punjab & Sind Bank Home Loan Interest?

In the long run, your work may be made simple and easy if you calculate your EMIs before applying for a loan. Find the ideal tenure, interest rate, and loan amount with 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.

Why Punjab & Sind Bank Home Loan Interest Rates Best for Customers?

Punjab & Sind Bank is a prominent bank for home loans in India. With home loan interest rates ranging from 8.6% to 11.05% per annum, Punjab & Sind Bank offers several housing finance schemes to cater to a wide range of customer needs. Additionally, housing finance is available for salaried employees, self-employed, business professionals, and farmers based on their eligibility criteria with flexible repayment tenure of up to 30 years. When you apply for PSB home loans, you get attractive interest rates compared to other lenders and substantially save on processing fees and other charges. 

Punjab & Sind Bank Home Loan Interest Rates for Existing Customers

If you are an existing customer of Punjab & Sind Bank, you get an added benefit of lower home loan interest rates. Whether you have a savings or current account with the bank or a history of debt, the bank is well-versed with your credibility, which is up to the entire home loan procedure. In addition to quick approval and disbursal, you also unlock doors to lower Punjab & Sind home loan interest rates starting from 8.60% per annum onwards. 

Punjab & Sind Bank Home loan Balance Transfer Rates

If you have an ongoing home loan with another bank or finance provider at a higher interest rate, Punjab & Sind Bank allows you to transfer your existing home loan. All you need to do is compare the interest rates, submit an application for a balance transfer to the existing bank, and the rest of the outstanding home loan amount will be transferred to Punjab & Sind Bank. 

For instance, you secure a home loan from ABC bank at an interest rate of 15% per annum. As per the current scenario, other banks offer home loans at lower interest rates; thus, you decide to count on a balance transfer home loan. 

When you transfer the balance amount to Punjab & Sind Bank, you get a lower home loan interest rate which start from 8.60% onwards.

Factors that affect Punjab & Sind Bank Home Loan Interest Rate and EMI

Punjab & Sind Bank home loan interest rates are affected by the following reasons:

Loan-to-Value (LTV) Ratio

LTV represents the portion of the property's worth that the loan can fund. A larger loan carries a higher interest rate since the credit risk is higher. A larger down payment can help reduce the loan amount, thus, lowering interest rates.

Marginal Cost of Funds-based Lending Rate

A bank can only lend money at this interest rate as a minimum. Additionally, it depends on the operational cost, the marginal cost of borrowing, the Cash Reserve Ratio along with the tenor premium. 

It has an annual reset date across which banks evaluate the rate for current housing finance borrowers. Even if the MCLR changes during the reset date and the next year's reset date, the MCLR applicable on the reset date continues to be effective. 

It implies that your interest rate may change depending on how the MCLR rate fluctuates.

Interest Type

There are three interest rates: fixed, variable, and blended. The Reserve Bank of India's (RBI) adjustments affect floating interest rates. Your EMIs will be reduced if the most recent RBI regulations lead to lower interest rates or vice versa. 

With a fixed interest rate, your interest rate remains constant for the loan. Mixed-rate loans begin with a fixed interest rate that lasts for a set amount before changing to a variable rate.

Credit Score

The borrower's credit score has a significant amount of impact on the PSB interest rates since it is a reflection of their financial discipline, trustworthiness, and repayment history. A low credit score indicates bigger credit risk, necessitating higher interest rates from lenders to cover such risks.

On the other hand, a higher credit score denotes a lower credit risk, which would encourage lenders to offer lower interest rates.

Repayment Tenure

Loans with shorter durations have lower interest rates than loans with longer terms, even when the EMIs are larger (which will have lower EMIs but a higher interest rate). 

Calculating the ideal loan tenure is easy using an online EMI calculator for house loans.

Other Loans Offered by Punjab Sind Bank

Frequently Asked Questions (FAQs)

What's the interest rate for Punjab & Sind home loan?

Punjab & Sind home loan interest rates begin from 8.60% per annum. The offered rates will be subject to the applicant’s credit profile and other factors such as income, CIBIL score, repayment history, age, etc.

Does Punjab & Sind Bank provide a 90% home loan?

At maximum, Punjab & Sind Bank offers 90% of the property value as a loan amount with a flexible repayment tenure of up to 30 years.

How can I reduce my Punjab & Sind home loan interest rate?

You can reduce Punjab & Sind home loan interest rates by managing a good credit profile, repayment history and credit score above 700.

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