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Punjab and Sind Home Loan Eligibility Calculator

Home Loan Eligibility Calculator Punjab and Sind Bank 2022

Last Updated 10th May 2022

Eligibility CriteriaPunjab and Sind Bank Home Loan
Eligible Age of Borrower21 - 70 years
Home Loan Eligibility Calculator

What is Punjab and Sind Home Loan Eligibility?

Punjab and Sind offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Punjab and Sind home loan eligibility is defined as a set of parameters that determines the creditworthiness of the borrowers based on factors like age, salary, occupation, property type and credit score. You can get details about the eligibility for a Punjab and Sind home loan using the Punjab and Sind home loan eligibility calculator. It is an online tool that uses mathematical algorithms to check if you are eligible for a home loan or not. In addition, you can know about the amount that you are eligible for.

How is Home Loan Eligibility Calculated by Punjab and Sind?

Punjab and Sind Housing loan eligibility is primarily dependent on income and repayment capacity. Other factors that may impact the eligibility of home loans are age, financial position, credit history, credit score, other financial obligations etc.

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. The minimum Punjab and Sind Bank home loan age limit to get a Punjab and Sind Bank home loan is 21 years at the time of loan commencement and maximum age limit is 70 years. Punjab and Sind Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 70 of tenure.

Punjab and Sind Home Loan Eligibility Based on Salary

  • Net income: Your net monthly income determines how much Punjab and Sind Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at an interest rate of 7.00% offered by Punjab and Sind Bank, the loan amount that you will be eligible for 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 the same property at the same rate depending on your age at the time of loan application. However, Punjab and Sind Bank asks for a net monthly income of ₹ 0 to avail a home loan.
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 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.

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

  • Value of property: Punjab and Sind Bank does 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%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Punjab and Sind Bank's legal team.

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

Punjab and Sind Housing Loan Eligibility Calculator based on FOIR

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

Punjab and Sind Bank Home Loan Eligibility for Women

Punjab and Sind Bank offers the same rates to women borrowers starting at 7.00% with similar eligibility criteria for home loan. In the case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

Minimum CIBIL Score for Punjab and Sind Home Loan

Punjab and Sind considers credit score as a barometer to gauge your past credit behaviour, and hence, CIBIL score becomes the most important factor in defining your eligibility to get a home loan. A higher credit score increases your chances to get loan approval from Punjab and Sind. However, a low CIBIL score reduces your chances to get a home loan. Punjab and Sind requires a minimum credit score of 650 to be eligible for a home loan.

How to Enhance Punjab and Sind Home Loan Eligibility?

You can enhance the Punjab and Sind home loan eligibility using the tips mentioned below:

  • Add an earning family member as a co-applicant.
  • Ensure a steady income flow, regular savings and investments.
  • Provide details of your regular additional income sources.
  • Track your variable salary components.
  • Take actions to rectify errors (if any) in your credit score.
  • Repaying ongoing loans and short term debts.

How to Use Punjab and Sind’s Home Loan Eligibility Calculator?

To check Punjab and Sind Bank home loan eligibility perform the following steps:-

  • Go to the Punjab and Sind Bank website
  • Now navigate to the option Punjab and Sind Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also, you can contact the bank by calling on their customer care number .


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.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Punjab and Sind Bank.

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.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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Punjab and Sind Home Loan News - May 2022
  • 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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