Are you searching for your dream property and looking for a lender that offers affordable home loans? Your search ends with the Punjab & Sind Bank Home Loan Interest Rate, one of the lowest in the market. The bank’s competitive rates make the home-buying experience comfortable and affordable for borrowers.
Punjab & Sind Bank Home loan Interest Rate February 2025
Here is the table containing the latest Punjab & Sind Bank Home Loan Interest Rates for 2025 -
| Particulars | Details |
|---|---|
Interest Rate | 8.55% - 10.00% |
Loan Amount |
|
Loan Tenure | Minimum age: 18 years; Maximum age: Determined by the upper age limit at the end of the repayment period. |
Benefits of Punjab & Sind Bank Home Loan
These are the benefits of Punjab & Sind Bank Home Loan:
- Competitive Interest Rates: Attractive rates based on creditworthiness.
- Flexible Tenure: Repayment period up to 30 years for easy EMIs.
- High Loan Amount: Funding available up to 90% of the property value.
- Quick Processing: Streamlined application and approval process.
- Tax Benefits: Avail deductions under Sections 80C and 24(b) of the Income Tax Act.
Eligibility of Punjab & Sind Bank Home Loan
Here are the eligibility criteria for the Punjab & Sind Bank Home loan, read to know more.
Applicants | Eligible applicants include individuals, groups of individuals, and members of housing societies." |
Age | Minimum 18 years, Maximum as per repayment period. |
Calculate your Punjab & Sind Bank Home Loan with Different EMIs
Here’s an example of different EMIs for a home loan of Rs. 20,00,000 with a tenure of up to 30 years and interest rates ranging from 8.55% up to 10.00% p.a. You can use the Wishfin Punjab & Sind Bank Home Loan EMI Calculator for accurate calculations. Simply enter three key details:
- Loan Amount
- Tenure
- Interest Rate
| Tenure (In Years) | EMI (at 8.55% interest rate) | EMI (at 10.00% interest rate) |
|---|---|---|
5 | ₹ 41,081.28 | ₹ 42,494.09 |
10 | ₹ 24,850.65 | ₹ 26,430.15 |
15 | ₹ 19,753.45 | ₹ 21,492.10 |
20 | ₹ 17,419.81 | ₹ 19,300.43 |
25 | ₹ 16,171.99 | ₹ 18,174.01 |
30 | ₹ 15,449.20 | ₹ 17,551.43 |
Documentation Required for Punjab & Sind Bank Home Loan
Here is the list of documents that are required while applying for the PSB Home Loan -
- Proof of advance or margin payments made for the purchase of the residential unit.
- Copy of the approved map/plan for the proposed construction or purchase.
- Permission from the competent authority for the construction of the house/flat.
- Agreement for sale, sale deed, or detailed cost estimate from an architect/engineer for the property to be constructed.
- Allotment letter from the co-operative society, association of apartment owners, development authorities, or other relevant entities.
Other documents depending upon -
- For property purchased directly from a builder (ready or under construction).
- For property belonging to a registered co-operative housing society.
- For property purchased in resale.
- For direct sale by a development authority.
- For construction of a house on a separate plot of land.
Other Charges of Punjab & Sind Bank Home Loan
The table shows different charges on the Punjab & Sind Bank Home Loan including processing fees -
Processing Fee
| S.No | Category | Charges |
|---|---|---|
(i) | Loans up to Rs. 25 Lakh | @ 0.15% on the loan amount + GST, subject to minimum of Rs. 1000/- + GST and maximum of Rs. 3750/- + GST |
(ii) | Loans above Rs. 25 Lakh & upto Rs. 50 lakh | @ 0.25% of the loan amount +GST and maximum of Rs. 12500/- + GST |
(iii) | Loans above Rs. 50 Lakh & less than Rs. 75 lakh | @ 0.25% of the loan amount + GST and maximum of Rs. 15000/- + GST |
(iv) | Loans of Rs. 75 Lakh & above | @ 0.25% of the loan amount + GST |
Prepayment | No pre-payment charges. |
Documentation charges | Actual Stamp/Revenue expenses only |
Guarantee | If you are a co-borrower, you may not need to obtain a guarantee. In every other situation: If available, a spouse, major son, or third party's guarantee may be sought. |
How to Apply for a Punjab & Sind Bank Home Loan?
There are two convenient ways to apply for a home loan with Punjab & Sind Bank:
- Offline:
Visit the nearest Punjab & Sind Bank branch and meet with a bank representative to complete the application process. The staff will guide you through the required documentation and application form.
- Online:
Alternatively, you can visit the official Punjab & Sind Bank website. Go to the home loan section and fill out the online application form. Upload the required documents and apply for processing.
Both options provide a straightforward process with assistance available at each step.
Summary!
Punjab & Sind Bank offers competitive home loan interest rates based on the borrower's credit profile or CIBIL score, ensuring affordability and transparency. With benefits like flexible tenure, quick processing, and tax advantages, their home loan is an excellent choice for individuals seeking financial support for property purchase or construction. A strong CIBIL score can further enhance the chances of securing lower interest rates.
FREQUENTLY ASKED QUESTIONS
1. What is the interest rate on a home loan from Punjab & Sind Bank?
The interest rate on home loans from Punjab & Sind Bank is 8.55% up to 10.00% p.a is competitive and depends on various factors like your credit score, the loan amount, and the tenure.
2. Does Punjab & Sind Bank offer fixed or floating interest rates?
Punjab & Sind Bank offers home loans with floating interest rates. The rate is usually revised based on market conditions and the bank's internal policies.
3. Are there any processing fees on home loans?
Yes, there may be a nominal processing fee for home loans, which varies depending on the loan amount and other factors.
4. Does Punjab & Sind Bank offer concessions on processing fees to home loan applicants?
Punjab & Sind Bank offers a 50% concession on processing fees to applicants holding a salary account with the bank, and a 25% concession to other applicants.
5. Who is eligible for the Punjab National Bank Home Loans?
MSMEs, salaried employees, proprietorship firms, partnership firms, public and private limited companies, trusts, HUFs, societies, and NRIs who meet the bank's criteria are eligible to apply for the PSB mortgage loan.
