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Punjab and Sind Home Loan Calculator

Punjab and Sind Bank Housing Loan EMI Calculator

Last Updated 16th Sep 2021

  • Punjab and Sind Bank home loan EMI per ₹ 1 Lakh is ₹ 737, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in Punjab and Sind Bank is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for Punjab and Sind Bank home loan before applying. Use an online Punjab and Sind Bank loan EMI calculator to estimate your EMI.
  • Check Punjab and Sind Bank home loan EMI for different tenures at the current Punjab and Sind Bank home loan interest rate of 8.05%
  • Loan Amount10 Year Loan15 Year loan30 Year loan
    ₹ 10 Lakh₹ 12,159₹ 9,585₹ 7,373
    ₹ 20 Lakh₹ 24,318₹ 19,171₹ 14,745
    ₹ 30 Lakh₹ 36,478₹ 28,756₹ 22,118
    ₹ 50 Lakh₹ 60,796₹ 47,927₹ 36,863

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Punjab and Sind Home Loan EMI Calculator Online

Punjab and Sind Bank Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your Punjab and Sind Bank housing loan EMI in advance to plan your loan payments and expenses using a Punjab and Sind Bank home loan calculator. Punjab and Sind Bank home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use Punjab and Sind Bank Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: Punjab and Sind Bank offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for Punjab and Sind Bank home loan.
  • Compare Punjab and Sind Bank Home Loan EMI: With Punjab and Sind Bank home loan EMI Calculator, you can also estimate EMI on your home loan from Punjab and Sind Bank with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

Punjab and Sind Bank Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on Punjab and Sind Bank Home Loan EMI calculator. The below-mentioned table shows the calculation of Punjab and Sind Bank Home Loan at the various combinations of loan amount and years at the lowest rate of 8.05%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right Punjab and Sind Bank Home loan plan for you.

Punjab and Sind Bank home loan EMI is calculated for different loan amounts and tenures at 8.05% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 23,964 ₹ 20,989 ₹ 18,431
₹ 50 Lakh ₹ 47,927 ₹ 41,978 ₹ 36,863
₹ 75 Lakh ₹ 71,891 ₹ 62,967 ₹ 55,294
₹ 1 Cr ₹ 95,854 ₹ 83,955 ₹ 73,725

Benefits of using Punjab and Sind Bank Home Loan EMI Calculator

Punjab and Sind Bank Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using Punjab and Sind Bank Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare Punjab and Sind Bank Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting Punjab and Sind Bank Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI Punjab and Sind Bank gives a minimum home loan of ₹ 15,00,000 upto a maximum amount of ₹ 5,00,00,000.

Interest Rate

Higher interest rate increases your Punjab and Sind Bank housing loan EMI which will increase the total cost of the loan. Punjab and Sind Bank current home loan interest rate starts at 8.05%. Do a complete market research and compare rates and calculate EMI online using Punjab and Sind Bank home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in Punjab and Sind Bank. Your EMI will be lower if you take a 0 years loan from Punjab and Sind Bank as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

Punjab and Sind Home Loan EMI Calculator Formula

Punjab and Sind Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Punjab and Sind Bank Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. Punjab and Sind Bank home loan amount can range from ₹ 15,00,000 to ₹ 5,00,00,000
  • r = Rate of interest per month. Current Punjab and Sind Bank housing loan rate 8.05%.
  • n = tenure in month. For Punjab and Sind Bank, maximum home loan tenure is 360 months

Comparison of Punjab and Sind Bank Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
Punjab and Sind Bank 8.05% ₹ 7,373 ₹ 22,118 ₹ 36,863
HDFC 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
ICICI Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098

Punjab and Sind Bank Home Loan Amortization Calculator

Punjab and Sind Bank Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Punjab and Sind Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 30 Lakh for 20 years from Punjab and Sind Bank at an interest rate of 8.05%. EMI calculated for this loan amount is ₹ 25,187 and the total annual EMIs to be paid annually is ₹ 3,02,240. The EMI schedule of loan for 20 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 30 Lakh over the 20 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 20,125 ₹ 5,062 ₹ 25,187 ₹ 29,94,938
2022 ₹ 2,38,785 ₹ 63,454 ₹ 3,02,240 ₹ 29,31,484
2023 ₹ 2,33,484 ₹ 68,755 ₹ 3,02,240 ₹ 28,62,729
2024 ₹ 2,27,741 ₹ 74,499 ₹ 3,02,240 ₹ 27,88,230
2025 ₹ 2,21,517 ₹ 80,722 ₹ 3,02,240 ₹ 27,07,508
2026 ₹ 2,14,774 ₹ 87,466 ₹ 3,02,240 ₹ 26,20,042
2027 ₹ 2,07,467 ₹ 94,772 ₹ 3,02,240 ₹ 25,25,270
2028 ₹ 1,99,550 ₹ 1,02,689 ₹ 3,02,240 ₹ 24,22,580
2029 ₹ 1,90,972 ₹ 1,11,268 ₹ 3,02,240 ₹ 23,11,313
2030 ₹ 1,81,677 ₹ 1,20,563 ₹ 3,02,240 ₹ 21,90,750
2031 ₹ 1,71,605 ₹ 1,30,634 ₹ 3,02,240 ₹ 20,60,115
2032 ₹ 1,60,692 ₹ 1,41,547 ₹ 3,02,240 ₹ 19,18,568
2033 ₹ 1,48,868 ₹ 1,53,372 ₹ 3,02,240 ₹ 17,65,197
2034 ₹ 1,36,056 ₹ 1,66,184 ₹ 3,02,240 ₹ 15,99,013
2035 ₹ 1,22,173 ₹ 1,80,067 ₹ 3,02,240 ₹ 14,18,946
2036 ₹ 1,07,131 ₹ 1,95,109 ₹ 3,02,240 ₹ 12,23,837
2037 ₹ 90,832 ₹ 2,11,408 ₹ 3,02,240 ₹ 10,12,429
2038 ₹ 73,171 ₹ 2,29,068 ₹ 3,02,240 ₹ 7,83,361
2039 ₹ 54,036 ₹ 2,48,204 ₹ 3,02,240 ₹ 5,35,157
2040 ₹ 33,301 ₹ 2,68,938 ₹ 3,02,240 ₹ 2,66,218
2041 ₹ 10,835 ₹ 2,66,218 ₹ 2,77,053 -₹ 0

In the above illustration, on a Punjab and Sind Bank Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 8.05, EMI paid is ₹ 25,187 and an annual total of EMIs is ₹ 3,02,240, the interest component is ₹ 2,39,208 while the principal component is ₹ 63,032 in year 1 of loan disbursement. You repay only 2.1% of the total principal after paying 12 EMIs during the first year.

Punjab and Sind Bank Home Loan EMI for ₹ 10 Lakh

The following table shows Punjab and Sind Bank Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 8.05%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 8.05% 5 Years ₹ 20,300
₹ 10,00,000 8.05% 10 Years ₹ 12,159
₹ 10,00,000 8.05% 15 Years ₹ 9,585
₹ 10,00,000 8.05% 20 Years ₹ 8,396
₹ 10,00,000 8.05% 0 Years

Punjab and Sind Bank Home Loan EMI for ₹ 20 Lakh

The following table shows Punjab and Sind Bank Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 8.05%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 8.05% 5 Years ₹ 40,601
₹ 20,00,000 8.05% 10 Years ₹ 24,318
₹ 20,00,000 8.05% 15 Years ₹ 19,171
₹ 20,00,000 8.05% 20 Years ₹ 16,791
₹ 20,00,000 8.05% 0 Years

Punjab and Sind Bank Home Loan EMI for ₹ 30 Lakh

The following table shows Punjab and Sind Bank Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 8.05%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 8.05% 5 Years ₹ 60,901
₹ 30,00,000 8.05% 10 Years ₹ 36,478
₹ 30,00,000 8.05% 15 Years ₹ 28,756
₹ 30,00,000 8.05% 20 Years ₹ 25,187
₹ 30,00,000 8.05% 0 Years

Punjab and Sind Bank Home Loan EMI for ₹ 50 Lakh

The following table shows Punjab and Sind Bank Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 8.05%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 8.05% 5 Years ₹ 1,01,502
₹ 50,00,000 8.05% 10 Years ₹ 60,796
₹ 50,00,000 8.05% 15 Years ₹ 47,927
₹ 50,00,000 8.05% 20 Years ₹ 41,978
₹ 50,00,000 8.05% 0 Years

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FAQs

Will the Punjab and Sind Bank home loan EMI remain constant or change in future?

No, your Punjab and Sind Bank Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the Punjab and Sind Bank Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in Punjab and Sind Bank interest rate?

Punjab and Sind Bank offers floating rate home loans only. If you take a floating rate loan from Punjab and Sind Bank, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your Punjab and Sind Bank home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will Punjab and Sind Bank home loan EMI change in case of prepayment?

Punjab and Sind Bank allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your Punjab and Sind Bank home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the Punjab and Sind Bank home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using Punjab and Sind Bank home loan calculator.

Why should I calculate Punjab and Sind Bank loan EMI before taking a loan?

It is advised to calculate Punjab and Sind Bank home loan EMI before taking a home loan. There are several benefits of calculating your Punjab and Sind Bank housing loan EMI which can be done using Punjab and Sind Bank loan calculator Punjab and Sind Bank housing loan EMI calculator as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and make Punjab and Sind Bank EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator Punjab and Sind Bank.

What is the EMI for home loan in Punjab and Sind Bank?

The Punjab and Sind Bank EMI will vary based on loan amount, tenure, rate of interest and can be calculated using Punjab and Sind Bank home loan calculator. Based on the lowest rate of 8.05% and maximum tenure of 30 years, the Punjab and Sind Bank home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,373
₹ 12 Lakh ₹ 8,847
₹ 15 Lakh ₹ 11,059
₹ 30 Lakh ₹ 22,118
₹ 50 Lakh ₹ 36,863

You can compare Punjab and Sind Bank home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a Punjab and Sind Bank Housing Loan EMI calculator?

Online Punjab and Sind Bank housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The Punjab and Sind Bank home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your Punjab and Sind Bank Home loan EMI Online?

To pay the EMI of Punjab and Sind Bank home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is Punjab and Sind Bank home loan EMI calculated?

The Punjab and Sind Bank Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in Punjab and Sind Bank?

You can use a 10 lakh home loan emi calculator Punjab and Sind Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 8.05% 10 years loan ₹ 12,159
₹ 10 Lakh 8.05% 15 years loan ₹ 9,585
₹ 10 Lakh 8.05% 20 years loan ₹ 8,396

What is the EMI for ₹ 20 Lakh home loan in Punjab and Sind Bank?

You can use a 20 lakh home loanemi calculator Punjab and Sind Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 8.05% 10 years loan ₹ 24,318
₹ 20 Lakh 8.05% 15 years loan ₹ 19,171
₹ 20 Lakh 8.05% 20 years loan ₹ 16,791

What is the EMI for ₹ 30 Lakh home loan in Punjab and Sind Bank?

You can use a 30 lakh home loan emi calculator Punjab and Sind Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 8.05% 10 years loan ₹ 36,478
₹ 30 Lakh 8.05% 15 years loan ₹ 28,756
₹ 30 Lakh 8.05% 20 years loan ₹ 25,187

What is the EMI for ₹ 50 Lakh home loan in Punjab and Sind Bank?

You can use a 50 lakh home loan emi calculator Punjab and Sind Bank, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 8.05% 10 years loan ₹ 60,796
₹ 50 Lakh 8.05% 15 years loan ₹ 47,927
₹ 50 Lakh 8.05% 20 years loan ₹ 41,978

What is the EMI for a 25 lakhs home loan in Punjab and Sind Bank and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator Punjab and Sind Bank:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 8.05% 10 years loan ₹ 30,398
₹ 25 Lakh 8.05% 15 years loan ₹ 23,964
₹ 25 Lakh 8.05% 20 years loan ₹ 20,989

What is the EMI for 12 lakhs home loan in Punjab and Sind Bank?

A borrower will pay ₹ 13,022 if he/she takes a loan for 12 years at an interest rate of 8.05%. The 12 lakh home loan emi Punjab and Sind Bank may vary across Punjab and Sind Bank home loan interest rate.

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Punjab and Sind Bank Home Loan Reviews 2.5/5  by 1 customers
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Punjab and Sind Home Loan News - Dec 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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