Punjab And Sind Bank (P&SB) is a major Public Sector bank in Northern India and working 100% on CBS platform. The banks government shareholding is 81.42%. Of its 1320 branches and 800 ATM spread throughout India, 530 Branches are in Punjab state. The bank's corporate headquarters is in New Delhi. P&SB provides home loan to Construction/ Acquisition/ Purchase/ Extension/ Repair / Renovation. Giving loan upto 20Lacs for Extension/ Repair / Renovation and for Construction/ Acquisition/ Purchase/ we provide no maximum limits. Read on to learn about the eligibility and documentation requirements for the loan you avail.
At least 18 years old
Less than 65 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Earn more than the minimum
Loan capped @ 60% to 90% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 15 years
Alternatively add your parents
|Interest Rate||8.75% to 9%|
|Loan Tenure||15 years|
|Processing charges||0.15% of the LA, subject to minimum of Rs. 1000 and maximum of Rs. 3750|
Punjab and Sind Bank was established in 1908 with the intention of uplifting the weaker sections of the society in Punjab. The bank works on the CBS platform and is a major public sector bank in the north of India. The bank’s mission has always been to offer the best and most innovative banking products and services to its customers through its unparalleled customer service. Punjab and Sind Bank has spread its network all over India with 800 ATMs and 1320 branches, of which 530 are located in Punjab.
The Punjab and Sind Bank Housing Loan Scheme is granted for the purpose of house construction or purchase of a new house or flat or even for the purpose of repair, renovation or extension of an already existing house.
The following criteria need to be fulfilled in order to be eligible for a home loan from Punjab and Sind Bank (P&S Bank):
Documents required while applying for the housing loan scheme are:
The MCLR announced by PSB as on January 4, 2017 are given in the table below.
|One Month MCLR (overnight to 1 month)||8.6|
|Three Month MCLR (1 Month to 3 Months)||8.65|
|Six Month MCLR (3 Months to 6 Months)||8.7|
|One Year MCLR (6 Months to 1 Year)||8.75|
|Three Year MCLR (1 Year to 3 Years)||8.95|
|Five Year MCLR (3 Years and above)||9.1|
Interest Rate: P&S Bank charges the following interest rates based on loan amount slabs:
|Loan Amount||Rate of Interest % (p.a.)|
|Up to 75.00 lacs||One Year MCLR|
|More than Rs.75.00 lacs||One Year MCLR + 0.25%|
No, there are no pre-payment charges on home loans from P&S Bank.
Your spouse or son can be considered as guarantee while applying for a home loan at the bank. In case, there is a co-borrower in your case, there need not be any third-party guarantee.
The only documentation charges you will have to pay the bank for a home loan are revenue or the actual stamp expenses.
The processing fee charged for Rs.70 lakh will be 0.25% of the home loan amount.
The equitable or registered mortgage of the property in question is provided as security towards the loan.
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