Punjab & Sind Bank Home Loan Interest Rate

Punjab & Sind Bank offers home loans starting at Rs 5 lakh and lasting up to 30 years at a rate of 7.90% p.a. It also provides a 0.10% interest rate reduction to permanent female employees of state and federal governments, public sector organizations, and reputable educational institutions (approved by the bank).

PSB Kisan Home Loan Scheme is also available to home loan applicants in rural and semi-urban areas. Continue reading this post to learn more about the Punjab & Sind Bank Home Loan.

Punjab and Sind Bank Home Loan Interest Rate 2022

Here are the Punjab and Sind Bank home loan interest rate tables-

1) Punjab and Sind Bank Loan Interest Rates for PSB Apna Ghar-sahaj

CIBIL Score

Interest Rates

641 - 689

8.75%

690 - 731

8.35%

732 - 752

8.20%

753 - 767

8.05%

768 - 900

8.00%

2) Punjab and Sind Bank Housing Loan Interest Rate for PSB Kisan Home Loan

CIBIL Score

Interest Rates

641 - 689

9.00%

690 - 731

8.60%

732 - 752

8.35%

753 - 767

8.15%

768 - 900

8.05%

3) Home Loan Interest Rate Punjab Sind Bank for PSB Apna Ghar Top-up

CIBIL Score

Interest Rates

690 - 731

10.05%

732 - 752

9.80%

753 - 767

9.60%

768 - 900

9.50%

The Kinds of Punjab and Sind Bank Home Loans

Following are the various the kinds of  Punjab and Sind Bank Home Loans-

1) PSB Apna Ghar-Sahaj

This is a loan scheme for permanent employees of State/Central Government, PSUs, and reputed education institutes recognized by the bank for the purchase of a built-up house or flat/construction or the acquisition of a plot/construction, extension, repair, and renovation.

2) PSB Apna Ghar

This scheme is for individuals, groups of individuals, and individual members of housing societies can purchase a dwelling unit/construction or a plot/construction, as well as extend, repair, and renovate it.

Up to 15 years for Plot Purchase, Home Renovation/Extension/Repair. Purchase of a built-up house/construction/purchase of a plot with construction: Up to 30 years, not to exceed retirement age (for salaried- up to 60 years, for salaried pensioners- up to 70 years, other than salaried- up to 70 years).

3) PSB Apna Ghar Top up Scheme

This scheme is for loan amount added to the existing house loan to suit various personal needs.

4) PSB Kisan Home Loan Scheme

This scheme is applicable in rural and semi-urban locations for housing construction/purchase/repair/renovation/upgradation.

Processing Fees of the Home Loan Schemes from Punjab and Sind Bank

1) PSB Apna Ghar: 0.15% - 0.25%

2) PSB Kisan Home Loan: 0.15%

3) PSB Apna Ghar Top-up: 0.15%

How to Apply for a Home Loan?

There are two ways you can apply for the home loan from this bank, and they are:

1) Offline: You can visit the nearest branch of the bank to make this application process.

2) Online: You can also visit the official portal of the bank, and apply through the loan section.

Who is Eligible for the Punjab and Sind Bank Home Loan?

Each house loan has its own set of requirements that you must complete. However, the following requirements apply to all house loans given by Punjab & Sind Bank-

  • Age - 18 years - 60 years
  • Depending on the house loan arrangement, a guarantor may or may not be required.
  • All of the bank's home loan programs are secured loans, which require the property to be pledged to the bank.

Documents Needed for the Punjab National Bank Home Loan

  • Application for a loan
  • PAN card, Aadhaar card, Passport, and Driving License are examples of ID proof documents.
  • Utility bills, Aadhaar cards, and driving licenses are examples of address proof documents.
  • Salary slips, Form 16, IT returns, P&L statements and balance sheets are examples of income proof papers.
  • Legal counsel's index inspection/legal opinion
  • A valuation certificate from a licensed appraiser.
  • Report on the visit.
  • The branch manager's and accountant's valuation report.
  • The plan has been approved.
  • An architect's estimate for the aforementioned property construction/alteration.
  • For leasehold property cases, a No Objection Certificate from the relevant authority for mortgage/equitable mortgage of the building/land.
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