Product Details
Bank Name
Punjab & Sind Bank
Maximum Loan Tenure
Up to 30 years.
Maximum Loan Amount
No limit.
Interest Rate
8.50% to 9.85% per annum.
Type
Floating
Down Payment
For purchase of plot only, offered/allotted by Govt. authorities and/ or builders who are bank’s borrowers:
25% of the Fair Market Value of plot for loan amount of upto Rs.1 crore.
40% of the Fair Market Value of plot for loan amount above Rs.1 crore.
For construction (plot already owned):
10% of the value of construction, proportionate for loans up to Rs. 30 lakh.
20% of the value of construction, proportionate for loans above Rs. 30 lakh.
For purchase of plot and construction (project):
For purchase of plot: 30% of fair market value of land/plot.
For construction: 10% of the value of construction, proportionate for loans up to Rs. 30 lakh, 20% of the value of construction, proportionate for loans above Rs. 30 lakh.
For purchase of built-up dwelling unit/flat:
10% of the total value of property for loans up to Rs. 30 lakh.
20% of the total value of property for loans above Rs. 30 lakh.
For Extension / Renovation /Repair: 10% of the total estimated cost.
Fees and Charges
Processing fees- NIL
Pre-payment charges: NIL for floating interest rate.
Late payment charges: 1%
Legal charges: At actuals.
Stamp Duty and registration charges: At actuals.
Minimum CIBIL Score
Not specified by the bank.
Down Payment and Fees
PSB Apna Ghar- Sahaj
Special Features
No processing fee.
Eligibility Criteria
Permanent employees of Central/State governments/Public Sector Undertakings (PSU).
Permanent employees of reputed education institutes as approved by the bank.
Age limit
Minimum: 21 years
Maximum: Subject to adjustment of the loan before the age of an employee without pension: 60 years. An employee with pension: 70 years
Special Concession
This scheme is only extended to the permanent employees of Central/State governments/Public Sector Undertakings (PSU), and reputed education institutes as approved by the bank.
Home Saver Option
No
Features, Eligibility and Concession
Pros
No limit on the maximum loan amount.
No processing fee.
Cons
Only for specific classes of employees
Pros & Cons
Application Procedure
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Add a Title
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.