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Punjab and Sind Home Loan Eligibility Calculator

Punjab and Sind Bank Home Loan Eligibility in India 2021

Last Updated 20th May 2021

Eligibility CriteriaPunjab and Sind Bank Home Loan
Eligible Age of Borrower21 - 70 years
  • Punjab and Sind Bank home loan eligibility is calculated based on your age, income, property value and repayment capacity.
  • Increase your Punjab and Sind housing loan eligibility by adding earning family members as co-applicants or by applying for a longer tenure loan
Home Loan Eligibility Calculator

Punjab and Sind Home Loan Eligibility based on Salary

Punjab and Sind Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Punjab and Sind Bank:

  • Net income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 8.05% offered by Punjab and Sind Bank, the loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be ₹ 38,71,101 to ₹ 44,08,255 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 77,42,201 to ₹ 88,16,510 for same property at same rate depending on your age at the time of loan application.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years44.08 Lakh66.12 Lakh88.17 Lakh
30 years44.08 Lakh66.12 Lakh88.17 Lakh
35 years44.08 Lakh66.12 Lakh88.17 Lakh
40 years44.08 Lakh66.12 Lakh88.17 Lakh
45 years41.93 Lakh62.89 Lakh83.86 Lakh
50 years38.71 Lakh58.07 Lakh77.42 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your Punjab and Sind Bank home loan eligibility.

  • Nature of employment: Punjab and Sind Bank will check whether you are salaried or self employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Punjab and Sind Bank requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self employed individuals.

Punjab and Sind Home Loan Eligibility based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. Punjab and Sind Bank home loan age limit to get the loan is 21 years of age at the time of loan commencement. Punjab and Sind Bank offers home loans for a maximum period of 30 Years years subject to the condition that the borrower’s age at the end of the tenure must not exceed 30 Years years for salaried borrowers and 30 Years years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:
Your current age Max tenure for salaried Max tenure for self employed
25 years30 years30 years
30 years30 years30 years
35 years30 years30 years
40 years30 years30 years
45 years25 years25 years
50 years20 years20 years

Home Loan Eligibility Punjab and Sind Bank based on Value of Property

  • Value of property: Punjab and Sind Bank will not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.

The housing loan eligibility calculator Punjab and Sind Bank can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for Punjab and Sind Home Loan

  • CIBIL Score: Your credit behaviour and track record from your past lenders and credit card providers gets captured in your CIBIL score. Banks consider this as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. When checking eligibility for home loan, Punjab and Sind Bank will look at the complete CIBIL report, which also includes all past running loans and your payment track record on loans and credit cards. Higher credit score increases your chances that your loan application to Punjab and Sind Bank will get approved. However, low CIBIL score will decrease your eligibility to get home loan. Punjab and Sind Bank requires a minimum credit score of 650 to be eligible for a home loan.

There are few factors which affect your credit score -

  • Late payments – If you have delayed in payments on your existing or past loans, it negatively affects your CIBIL score and reduces your chances of getting a loan from Punjab and Sind Bank.
  • High number of unsecured loans – Always keep a balance between secured and unsecured loans. More number of unsecured loans can adversely affect your credit score.
  • Usage of credit limit – Credit card bills and use of credit limit shows your credit behaviour. Outstanding credit card balance close to 30% of credit card limit reflects a potential financial stress, indiscipline on your part and may adversely impact your credit score.
  • Multiple loan applications – If you apply for loan in multiple banks at one time, it can affect your score negatively and reduce your CIBIL score. In case of application rejection from Punjab and Sind Bank, improve your credit worthiness to get a good score.

You can use the housing loan eligibility calculator Punjab and Sind Bank for quick calculation of your home loan eligibility.

Punjab and Sind Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter that Punjab and Sind Bank uses to determine your Punjab and Sind Bank home loan eligibility. Punjab and Sind Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for home loan from Punjab and Sind Bank is 0.65. Calculate your eligibility with Punjab and Sind Bank home loan calculator and apply for eligible loan amount hassle free.

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What is the criteria to get Punjab and Sind Bank home loan?

The basic criteria to get a home loan from Punjab and Sind Bank are as following:

Age21 - 70 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Punjab and Sind Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Punjab and Sind Bank?

The minimum salary required to avail home loan from Punjab and Sind Bank is ₹ 0.

Is Punjab and Sind Bank good for home loan?

The lowest interest rate provided by Punjab and Sind Bank is 8.05% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

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Punjab and Sind Home Loan News - Jun 2021
  • 2021-05-20 : Punjab and Sind Bank revised its Marginal cost of lending rates
    Punjab and Sind Bank revised its MCLR. The overnight MCLR is 7.10%. The one-month and three months MCLR stand at 7.15% and 7.25%, respectively. Further, the six months and one-year MCLR is 7.40% and 7.60%, respectively. The revised rates are effective 16 May 2021. The revised rates will impact MCLR based home loans.
  • 2021-02-05 : Punjab and Sind Bank reported a loss of Rs. 2375 crores
    Punjab & Sind Bank net loss in December quarter 2020-21 spiralled to Rs 2,375.53 crore on higher provisions for bad loans. Total income fell to Rs 1,982.52 crore from Rs 2,077.01 crore in the same period of 2019-20. Further, Net income fell 9.1% to Rs 1,763.10 crore and income on investments was down 12.1% to Rs 455.42 crore.
  • 2020-06-30 : Punjab and Sind Bank Q4 loss widens
    Punjab and Sind Bank reported widening of loss to Rs 236.30 crore for the fourth quarter of 2019-20 as provisions for bad loans rose. The public sector bank had posted a loss of Rs 58.57 crore in January-March, 2018-19. During the quarter, the bank backed by the retail loan like home, personal, gold, two-wheeler, car along with business and mudra loan, earned an operating profit of Rs 429.75 crore as against Rs 404.13 crore in the same period of the previous fiscal.
  • 2019-07-25 : Punjab and Sind Bank eyes for expansion in eastern states
    Public sector lender, Punjab and Sind Bank is looking to scale up its presence in the eastern states of Bihar, West Bengal, and Jharkhand. The lender has plans to open more number of bank branches in these regions to step up its retail loan business, including home loans and mortgage loans. Apart from this, the lender will also aim to offer improvised services to its customers, including lockers and digital banking facilities.
  • 2019-07-02 : Punjab & Sind Bank centralizes MSME, retail loan approvals
    Punjab & Sind Bank has set up the Centralised MSME & Retail Group (Cen-MARG) for credit facilities at its head office. Now, all MSME and retail credit approvals will be performed at this centralized setup. This initiative by the lender will help boost lead generation for retail and MSME lending and enhanced customer service.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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