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Punjab and Sind Bank Home Loans

Punjab and Sind Bank home loans are consumer-friendly housing finance products tailored to meet the home buying needs of the Indian customers. Home loans offered by Punjab and Sind Bank are available with one of the most competitive interest rates in India.

About Punjab and Sind Bank Home Loans

Punjab and Sind Bank home loans come with flexible and convenient repayment terms and conditions. Given below are important information related to Punjab and Sind Bank home loans:

Eligibility Criteria for Punjab and Sind Bank home loans

Group of individuals, individuals and individual members of Co-operative housing societies can qualify for a Punjab and Sind Bank home loan. Maximum age of the borrower is as follows:

  • In case of salaried employees: 60 years
  • In case of salaried employees (with pension facilities): 65 years
  • In case of salaried employees (with pension facilities) and major son as wage earner functioning as co-applicant: 15 years repayment regardless of the retirement age
  • For other individuals: 65 years

For salaried individuals (with pension facilities) and major son (wage earner) functioning as co-applicant, the earnings of co-applicant will be combined/taken into account for assessing the ability of repayment.

What is the maximum amount of loan?

The maximum amount of loan that you can avail from Punjab and Sind Bank is Rs.150 lakhs.

Margin for Punjab and Sind Bank home loans

The margin for Punjab and Sind Bank home loans is as follows:

  • In case of purchase of house/flat or construction of house - 25% of the property value comprising stamp duties/registration fees.
  • In case of performing renovation/repairs/extensions/modifications to current flat/house - 25% of projected cost.
  • In case of purchase of plot - margin will be 50% of the value of plot/land.



Processing fee for Punjab and Sind Bank home loans

Processing fee for P&SB home loans is 0.50% of the approved loan amount, subject to a maximum of Rs10,000. For employees of Public Sector Undertakings (PSUs) and State/Central Government employees, processing fee is not required.

Prepayment of Punjab and Sind Bank home loans

If you prepay your Punjab and Sind Bank home loan, you will be asked to pay prepayment penalty. Prepayment penalty will be imposed @1.0% of the balance due on the date of settlement if the loan account is settled by taking over of loan by another bank or financial institution.

No pre-payment charge will be imposed, if the borrower settles the account in full and final ahead of schedule from his own confirmable and lawful source of funds that is on getting maturity proceeds of Life Insurance Policies, National Savings Certificates and so on.

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The installment will not include any processing fee or charges which are applicable as per the rules of finance providing Authorities.
 
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