Punjab & Sind Bank Home Loan

Owning a home is a dream of almost all of us. You want to own a home because you want to secure your family and give them a permanent place to live without any tension and worries. You invest all your savings and funds to buy your dream property. Earlier, people used to borrow money from their relatives, friends and family members to buy the property. Borrowing a loan from the bank or housing finance company was not very much in trend. It was not very popular among the people.  But, today the situation has changed and people prefer to buy home with a loan to claim tax benefits and build the equity over the period of time.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    Borrow a home loan to suit your needs and to fit into your repayment budget. Don’t get tempted to borrow a loan beyond your repayment capacity, even though if you are eligible for the home loan of a higher amount.

    As a home loan is a long -erm thing, and you should borrow the loan it from a reputed and trusted bank. You should not finalise your bank in a hurry. Instead, you should choose a bank after getting some important information and comparing the product with some other bank. Punjab & Sind bank offers you home loan at a very competitive rate of interest. It gives you a customised home loan to suit your requirements. The bank offer loan to salaried and self-employed/professionals who have a regular source of income. You can borrow a home loan as an individual, a group of individuals, and individual members of the housing society. You can also apply for a joint loan with a co-borrowers. Here are some important features of Punjab & Sind Bank home loan.

    Punjab & Sind Bank Home Loan Interest Rates

    ParticularsDetails
    Interest Rate 8.80% - 9.05%
    Loan AmountUp to ₹25 lakhs
    TenureUp to 15 years
    Processing Fee0.25% subject to maximum of ₹ 15000/-

     

    Punjab & Sind Bank Home Loan EMI Calculator

    If you are interested in availing a home loan of ₹30,00,000 from Punjab & Sind Bank for 20 years at the rate of 8.75% per annum than your EMI will be as follows.

    FieldAmount
    Loan Amount₹30,00,000
    Interest Rate8.75% p.a.
    Monthly Instalment (EMI)₹26,511
    Total Interest Amount₹33,62,717
    Total Amount (Principal + Interest)₹63,62,717

    You can also calculate Home loan EMI for your required loan amount at WishFin.

    Amortization Table

    Year Principal (₹)Interest (₹)Balance Amount (₹)
    1 57,919260,2132,942,081
    2 63,192254,9402,878,889
    3 68,950249,1822,809,939
    4 75,233242,8992,734,706
    5 82,084236,0482,652,622
    6 89,561228,5712,563,061
    7 97,722220,4102,465,339
    8 106,624211,5082,358,715
    9 116,337201,7952,242,378
    10 126,933191,1992,115,445
    11 138,497179,6351,976,948
    12 151,114167,0181,825,834
    13
    164,880153,2521,660,954
    14 179,900138,2321,481,054
    15 196,289121,8431,284,765
    16 214,169103,9631,070,596
    17 233,67984,453836,917
    18 254,96463,168581,953
    19 278,19239,940303,761
    20 303,95514,5980

     

    Features of Punjab & Sind Bank Home Loan

    • You can borrow a loan to buy a flat/property
    • Bank provides loan for acquisition/extension of the property
    • Loan can also be borrowed to repair/renovation of the property

    Punjab & Sind Bank Home Loan Eligibility

    To apply for a home loan, you should have been a minimum of 18 years and the maximum age depends upon the repayment period.

    Maximum Loan Amount

    The maximum loan amount depends on your eligibility and needs. The loan amount is based upon your needs. There is no maximum limit for the loan. For repair, renovation, addition, and alteration, the bank offers a maximum of ₹20 lakhs as the loan to the customers. The bank does not impose any pre-payment charges on a home loan if you want to pre-close it.

    Documentation Required for Punjab & Sind Bank Home Loan

    SalariedSelf-employedSelf-employed professionals
    Last 2 years Income tax returnsLatest audited ITR and financials for the last 2 yearsLatest audited ITR and financials for the last 2 years
    Latest 3 month salary slipBalance Sheet, Profit & Loss A/c., computation of Income along with all schedulesBalance Sheet, Profit & Loss A/c., computation of Income along with all schedules
    Latest Form 16Bank statements of main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance SheetBank statements of main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet


    Professional qualification certificate and degree certificate

    Punjab & Sind Bank Home Loan Application Form

    In order to avail the home loan from Punjab & Sind Bank, firstly you need to fill in the application form provided by the bank. Filling an application form is the first step to get the home loan from any lender. The best thing is that you can either fill in this form online or visit your nearest branch for the same. Through these two ways, you can easily apply for a home loan in Punjab & Sind Bank.

    People Also Look For

    Personal Loan Interest Rates December 2018
    Bajaj Finserv10.99% - 16.00%
    Fullerton India14.00% - 33.00%
    HDFC Bank11.25% - 21.50%
    ICICI Bank10.99% - 18.40%
    IndusInd Bank10.99% - 16.00%
    Kotak Bank10.99% - 20.99%
    RBL13.00% - 18.00%
    Standard Chartered Bank12.00% - 17.00%
    Tata Capital10.99% - 18.00%
    Home Loan Interest Rates December 2018
    State Bank of India/SBI8.70% - 9.25%
    HDFC8.80% - 9.70%
    Bank of Baroda8.65% - 9.65%
    LIC Housing8.85% - 9.05%
    PNB Housing Finance9.00% - 13.00%
    ICICI Bank9.00% - 9.25%
    Axis Bank8.80% - 9.05%
    Citibank9.00% - 9.85%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank8.90% - 8.75%
    DHFL9.05% - 9.95%
    Reliance Home Finance8.75% - 14.00%