Punjab And Sind Bank Home Loan Key Features
| Feature | Value |
| Interest Rate | 6.90% onwards |
| EMI / Lakh | Rs. 662 |
| Loan Tenure | Up to 30 years |
| Loan Amount | Percentage based on property value |
| Loan to Value Ratio | Up to 90% of property value |
| Loan Available on the Following Types of Property |
|
| Special Offer for Women | Interest rate concession of 0.05% |
| Processing Fee | Up to 0.5% of loan amount excluding GST |
| Prepayment Charges | No prepayment charges for floating rates |
| Part Payment Charges | Nil |
| Guarantor Required | Nil |
Please Note: The above figures are only indicative and are subject to change without any prior notice.
Punjab And Sind Bank Home Loan Interest Rate
| Punjab And Sind Bank Home Loan Schemes | Interest Rate For Women | Interest Rate for Others |
| Punjab And Sind Bank Home Loan | 6.90% – 7.95% | 6.90% – 8.00% |
| Punjab And Sind Bank Reach Loan | 6.90% – 14.00% | 6.90% – 14.00% |
| Plot Loan | 6.90% – 8.05% | 6.90% – 8.10% |
| Rural Housing Loan | 6.90% – 8.70% | 6.90% – 8.70% |
| Home Improvement Loan | 6.90% – 7.95% | 6.90% – 8.00% |
| Home Extension Loan | 6.90% – 7.95% | 6.90% – 8.00% |
| Home Loan Top Up | As per home loan slabs | As per home loan slabs |
| Home Loan Balance Transfer | 6.90% onwards | 6.90% onwards |
Please Note: The above rates and values are floating in nature and are based on adjustable rates. These are subject to change at the time of loan disbursement.
Punjab And Sind Bank Home Loan Eligibility Criteria
Salaried Individual:
- The applicant’s nationality should be Indian.
- The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
- Must have working experience and a legitimate source of salary i.e working under the same employer for at least one year.
Self Employed Individual:
Applicants who are not professionally engaged in the working sector but have their own source of steady income are also eligible for the Punjab And Sind Bank Home Loan. This includes everybody who is a:
- Traders
- Commission agent
- Contractors
The following criteria must be met to apply for a home loan:
- The applicant’s nationality should be Indian.
- The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
Self Employed Professionals:
Applicants who are professionally engaged in the working sector are also eligible for the Punjab And Sind Bank Home Loan. This includes everybody who is a:
- Doctors
- Lawyers
- Charted Accountant
- Architect
- Consultant
- Engineer
- Company Secretary
The following criteria must be met to apply for a home loan:
- The applicant’s nationality should be Indian.
- The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
Additional Criteria for Co-applicants:
- Co-applicant must be a family member of the primary applicant.
- All co-applicants are not required to be the co-owners of the property.
For more information on home loan eligibility, click on the given link.
Punjab And Sind Bank Home Loan Documents Required
Salaried Individual:
Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.
Income Proof:
- Bank Statements showing salary credits from the last 6 months.
- Latest Salary Slips from the last 3 months.
- Latest Form-16 and IT returns
- Employment Contract/Appointment Letter if the current employment is less than a year old.
Property Related Documents:
- A cheque for processing fee favouring ‘Punjab And Sind Bank.’
- Copy of the Buyer Agreement/Allotment Letter
- Receipt/(s) of payment/(s) made to the developer
Self Employed Individual:
Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.
Income Proof:
- Bank Statements showing salary credits from the last 6 months.
- Business Profile and Previous 3 years Income Tax returns (Both self and business)
- Previous 3 years Profit/Loss Account and Balance Sheet.
Proof Of Business:
- Educational Qualifications Certificates
- Business achievements (Certificate or awards if any)
Property Related Documents:
- A cheque for processing fee favouring ‘Punjab And Sind Bank.’
- Copy of the Buyer Agreement or Allotment Letter
- Receipt/(s) of payment/(s) made to the developer
Agriculturists:
KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport
Income Proof:
- Bank Statements showing salary credits from the last 6 months.
- Copies of title documents of agricultural Land showing crops being cultivated
Property Related Documents:
- A cheque for processing fee favouring ‘Punjab And Sind Bank.’
- Copy of the Allotment Letter / Buyer Agreement
- Receipt/(s) of payment/(s) made to the developer
Additional requirements for Co-applicants:
For more information on home loan documents required, click on the given link.
Punjab and Sind Bank Home Loan Interest rates and offers May 2021
| Loan Amount | Interest rates |
| 30 lakhs | 8.05% |
| 30-75 lakhs | 8.05% |
| 75 lakhs- 1.50 crores | 8.05% |
| above 1.5 crores | 8.05% |
Different Home Loan Schemes By Punjab And8.05% Sind Bank
Punjab And Sind Bank Home Loan – For Resident Indians
This type of loan is specifically for those individuals who are Indian residents and require funds to purchase a house or a plot for further construction.
| Specific Information for Home Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 30 years |
Punjab And Sind Bank Home Loan for NRI/PIO – For NRIs and PIOs
This type of loan is available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:
- Purchase a flat, row house, bungalow in India from private developers in approved projects.
- Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
- Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
- Properties can be purchased in an existing Co-operative Housing Society, Apartment Owners Association, Development Authorities settlements, or privately built-up homes.
Punjab And Sind Bank Plot Loans – For Buying a New Plot
This type of loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or a plot from the resale.
| Specific Information for Plot Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 80% of the value of Property |
| Interest Rate | 6.90% onwards (0.05% concession to women) |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
Punjab And Sind Bank Top Up Loans – For Punjab And Sind Bank Home Loan Borrowers
This scheme helps the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes.
| Specific Information for Top-Up Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | New Customer – 6.90% onwards
Existing Customer – As per Home Loan Slabs |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
Punjab And Sind Bank Home Extension Loans – For Adding Space in Your Home
This type of loan is specifically for those individuals who want to extend or add space to their home property.
| Specific Information for Home Extension Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 20 years |
Punjab And Sind Bank Home Loan Balance Transfer – For All Home Loan Borrowers
Punjab And Sind Bank Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.
| Specific Information for Home Loan Balance Transfer Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to Rs. 50 Lakhs |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 30 years |
Punjab And Sind Bank Home Loans under Pradhan Mantri Awas Yojana Subsidy 2021
This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).
| Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme | |
| Eligible Profiles | Available to EWS/LIG, MIG-I, and MIG -II |
| Loan Amount | No Cap |
| Interest Subsidy | 3.00% onwards |
| Maximum Subsidy | Up to Rs. 2.67 Lakhs |
| Loan Tenure | 20 years |
Punjab And Sind Bank Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month
This type of loan is specifically for those individuals who are Indian residents with an income of Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, a new plot for further construction, renovations, and extension or construction on both residential and non-residential properties.
| Specific Information for Reach Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | Up to 80% of the value of Property |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 2% of the loan amount + GST |
| Loan Tenure | 30 years |
Punjab And Sind Bank Rural Housing Loans – For Indians Living in Rural Areas
This type of loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or a new residential property or an existing residential property in rural and urban areas. This loan is also eligible for individuals who are salaried or self-employed!
| Specific Information for Rural Housing Loan Scheme | |
| Eligible Profiles | Available to Salaried, Sef-employed Individuals and Agriculturists |
| Loan Amount | Up to 90% of the value of Property |
| Interest Rate | 6.90% onwards (0.05% concession to women) |
| Processing Fee | Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST |
| Loan Tenure | 30 years |
Punjab And Sind Bank Home Improvement Loans – For Covering Home Renovation Costs
This type of loan is specifically for those individuals who want to renovate their homes but are not able to do so due to a lack of funds.
| Specific Information for Home Improvement Loan Scheme | |
| Eligible Profiles | Available to Salaried and Sef-employed Individuals |
| Loan Amount | New Customer – Up to 90% of the estimates from improvements.
Existing Customer – Up to 100% of the estimates from improvements. |
| Interest Rate | 6.90% onwards |
| Processing Fee | Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST |
| Loan Tenure | 15 years |
Compare Punjab and Sind Bank Home Loan with other Banks
| Particulars | Punjab and Sind Bank | SBI | HDFC |
| Interest rates | 8.05-8.40% | 6.70-7.05% | 6.75-8.20% |
| Processing fee | 1000-15000 | 10,000 | 3000 |
| Tenure time | 30 | 30 | 30 |
| Max amount | 5 crores | 7 crores | 5 crores |
| Age | 21-70 | 20-70 | 20-74 |
| Interest amount | 737 per lakh | 645 per lakh | 649 per lakh |
Advantages of Punjab And Sind Bank Home Loan
Punjab And Sind Bank Home Loan is a saviour to those who are in need of financial support relating to home and plots. It offers the following:
- A huge variety of home loan schemes.
- The most helpful Pradhan Mantri Awas Yojana is also available.
- Provide a 0.05% concession to women to encourage them for their own homeownership.
- Provide several repayment methods to choose from and opt for the one best suited to you.
- Full transparency as Punjab And Sind Bank promise no hidden costs and fees.
- Easy application with minimum documentation and paperwork.
- Provides loan approval prior to the selection of the property.
Punjab and Sind Bank Home Loan Customer Care
Punjab and Sind Bank customer care number is 1800-419-8300. They are available 24/7 and you can contact them for any doubts related to the Home Loans then your doubts are solved by customer care. They help you in availing of the best home loans. You can also use Dialabank for availing of these Home Loans. You can call Dialabank customer care: Dialabank: 9878981166
Common Documents for salaried and self-employed
The documents required for salaried and self-employed are different. But there are some common documents in them which are used for both salaried and self-employed. These documents include proof of address, proof of identity. property documents and other income documents are also required for salaried and self-employed.
Punjab And Sind Bank Home Loan Charges and Fees
| Particulars | Charges |
| Processing Fees | Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher |
| Prepayment charges | No prepayment charges for floating rates |
| Check dishonour charges | Up to Rs. 200 |
| List of documents | Up to Rs. 500 |
| Photocopy Of documents | Up to Rs. 500 |
| PDC Swap | Up to Rs. 200 |
| Disbursement cheque cancellation charges post disbursement | Up to Rs. 200 |
| Increase/Decrease in the loan term | Up to Rs. 500 |
| Re-appraisal of loan post 6 months from sanction | Up to Rs. 2,000 |
Please Note: The above figures are only indicative and are subject to change without any prior notice.
Punjab And Sind Bank Home Loan Procedure
- Visit Dialabank for a Home Loan.
- Go to the Punjab And Sind Bank Home Loan page.
- Check out all the eligibility and documents criteria for a Home Loan.
- Fill out all the details required in the Home Loan application form.
- Once done, our representative will soon contact you for a further stress-free process.
Punjab And Sind Bank Home Loan EMI Calculator
Other Loan Products from Punjab And Sind Bank
| Punjab And Sind Bank Personal Loan | Punjab And Sind Bank Gold loan | Punjab And Sind Bank Car Loan |
| Punjab And Sind Bank Education Loan | Punjab And Sind Bank Two Wheeler Loan | |
Punjab And Sind Bank Home Loan FAQ
✅ How to repay my Punjab And Sind Bank home loan?
There are different payment methods through which you can repay your Punjab And Sind Bank home loan, this can be done:
- By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
- By opting for direct deduction of monthly instalments by your employer.
- By issuing post-dated cheques from your salary account.
✅ When can you apply for Punjab And Sind Bank’s top-up loan?
A year after the disbursement of the existing loan amount and the possession or completion of the financed property.
✅ In the case of prepayment is made, is there any change in home loan EMI?
Punjab And Sind Bank accept a prepayment at nil charges in case of floating rate home loans. When a prepayment is made, the outstanding balance of the principal amount on your home loan gets reduced.
✅ What is the maximum loan amount from the home loan can I get on my salary?
A customer can get the loan amount on his/her salary, depends on their repayment capacity. To determine the repayment capacity the following variables are considered: age, the number of dependants, credit history, education qualification, current liabilities, etc.
✅ What is a Floating Interest Rate?
Floating interest rates are different from the fixed rates, the rates are not the same throughout the loan tenure. It may vary with the change in the lender’s benchmark rate.
✅ How DialaBank can help you get a Home Loan?
Dialabank is a bridge to find the best option between several Banks and NBFCs by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through if you choose to search and applying by own.
✅ How the rate of interest will change if the interest rate is linked to PLR?
Home Loan Interest Rate is linked to PLR, and any change in PLR will lead to a change in rates of interest on the home loan. Interest rates on home loan account will rise or fall with the increase or decrease of PLR, proportionately.
✅ Who is a Co-obligate or Guarantor?
Co-obligate or guarantor is an individual who undertakes to re-pay the bank loan in case the principal borrower fails. The amount of his liability will be the same as that of the principal borrower and the Bank can take strict actions against him for recovery along with the principal borrower. Guarantor can’t say that his liability will start only after the remedies against the principal borrower are exhausted.
✅ Is there an option for pre-closure of a loan account?
A pre-closure option is also available and charges will be levied at rates as decided by the lender
✅ Does missing an instalment effects CIBIL?
Non-payment of EMIs as per terms and conditions will adversely affect the credit rating of the borrower.
✅ Are there any penalty Charges?
Penalty charges of 2% will be levied on the instalment amount unpaid.
✅ How is the calculation of interest rates is done?
Interest rates are charged on a daily balance method and are debited once a month in your loan account. A 2% penalty on the unpaid Installment amount will be charged.
✅ What is the interest rates for more than 30 lakhs?
The interest rate for more than 30 lakhs is 8.05%.
Punjab and Sind Bank News Snippets
Punjab and Sind Bank offers low-interest rates on home loans
Punjab and Sind Bank along with the Central Bank of India is offering low-interest rates. For 10 lakhs it is offering 7 per cent of home loans. And it may increase to 7.25% for these home loans. For the State bank of India, it is 7.7%. These interest rates are collected from the bank’s website as banks release their interest rate on their specific website.
Punjab and Sind Bank is offering a share of 5500 crores to the government
Punjab and Sind Bank is offering shares and these shares worth is 5500 crores. From these 14500 crores is for capital and there is a down per cent in these banks. The down payment is 5.07%. The government is approving 20,000 crores for share worth. So in this way the Punjab and Sind bank is offering crores to the government.
Bank of India and Punjab and Sind bank is offering cheaper home loans
Punjab and Sind bank along with the bank of India is offering low-interest rates and cheaper home loans in these banks. These banks offer various interest rates that are low and these interest rates are based on home loans amount and home loan interest rates. So these banks are offering low-interest rates.
Punjab and Sind Bank offers cheaper gold loans
Not only Home Loans Punjab and Sind bank is offering cheaper gold loans too. For these gold loans, the gold is used as security. So in the Punjab and Sind bank, the interest rates for these gold loans is also very low and it ranges in between 7-9%. So in this way, the gold loan rates are cheaper.
