Punjab and Sind Home Loan EMI Calculator
Punjab and Sind Bank Home Loan Calculator
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Punjab and Sind Housing Loan EMI Calculator
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?
How to Calculate EMI for Home Loan in Punjab and Sind Bank?
To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the 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.
To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the 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 years | 20 years | 30 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 interest 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 the 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.
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.
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 the Punjab and Sind Bank home loan calculator before you apply for a home loan.
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,
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 | 7.00% | ₹ 6,653 | ₹ 19,959 | ₹ 33,265 |
| ICICI Bank | 6.90% | ₹ 6,586 | ₹ 19,758 | ₹ 32,930 |
| SBI | 6.65% | ₹ 6,420 | ₹ 19,259 | ₹ 32,098 |
| LIC Housing Finance | 6.95% | ₹ 6,619 | ₹ 19,858 | ₹ 33,097 |
| Axis Bank | 6.70% | ₹ 6,453 | ₹ 19,358 | ₹ 32,264 |
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 ₹ 35 Lakh for 15 years from Punjab and Sind Bank at an interest rate of 8.05%. EMI calculated for this loan amount is ₹ 33,549 and the total annual EMIs to be paid annually is ₹ 4,02,587. The EMI schedule of loan for 15 years is explained below in the table –
Amortization Schedule for a Home Loan of ₹ 35 Lakh over the 15 years
| Year | Interest paid during the year | Principal repaid during the year | Total amount paid during the year (Interest + Principal) | Outstanding Principal |
|---|---|---|---|---|
| 2022 | ₹ 1,85,916 | ₹ 82,475 | ₹ 2,68,391 | ₹ 34,17,525 |
| 2023 | ₹ 2,70,301 | ₹ 1,32,287 | ₹ 4,02,587 | ₹ 32,85,238 |
| 2024 | ₹ 2,59,250 | ₹ 1,43,337 | ₹ 4,02,587 | ₹ 31,41,901 |
| 2025 | ₹ 2,47,276 | ₹ 1,55,311 | ₹ 4,02,587 | ₹ 29,86,589 |
| 2026 | ₹ 2,34,301 | ₹ 1,68,286 | ₹ 4,02,587 | ₹ 28,18,304 |
| 2027 | ₹ 2,20,243 | ₹ 1,82,344 | ₹ 4,02,587 | ₹ 26,35,960 |
| 2028 | ₹ 2,05,011 | ₹ 1,97,577 | ₹ 4,02,587 | ₹ 24,38,383 |
| 2029 | ₹ 1,88,506 | ₹ 2,14,082 | ₹ 4,02,587 | ₹ 22,24,302 |
| 2030 | ₹ 1,70,622 | ₹ 2,31,965 | ₹ 4,02,587 | ₹ 19,92,336 |
| 2031 | ₹ 1,51,244 | ₹ 2,51,343 | ₹ 4,02,587 | ₹ 17,40,993 |
| 2032 | ₹ 1,30,247 | ₹ 2,72,340 | ₹ 4,02,587 | ₹ 14,68,653 |
| 2033 | ₹ 1,07,497 | ₹ 2,95,090 | ₹ 4,02,587 | ₹ 11,73,562 |
| 2034 | ₹ 82,846 | ₹ 3,19,742 | ₹ 4,02,587 | ₹ 8,53,821 |
| 2035 | ₹ 56,135 | ₹ 3,46,452 | ₹ 4,02,587 | ₹ 5,07,369 |
| 2036 | ₹ 27,193 | ₹ 3,75,394 | ₹ 4,02,587 | ₹ 1,31,975 |
| 2037 | ₹ 2,221 | ₹ 1,31,975 | ₹ 1,34,196 | -₹ 0 |
In the above illustration, on a Punjab and Sind Bank Home Loan of₹ 35 Lakh, taken at the lowest interest rate of 8.05, EMI paid is ₹ 33,549 and an annual total of EMIs is ₹ 4,02,587, the interest component is ₹ 2,77,190 while the principal component is ₹ 1,25,397 in year 1 of loan disbursement. You repay only 3.58% 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 lakh home loan 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 lakh home loan 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 ₹ 25 Lakh
The table below shows Punjab and Sind Bank Housing Loan EMI for ₹ 25 lakh home loan for different tenures at an interest rate of 8.05%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 25,00,000 | 8.05% | 5 Years | ₹ 50,751 |
| ₹ 25,00,000 | 8.05% | 10 Years | ₹ 30,398 |
| ₹ 25,00,000 | 8.05% | 15 Years | ₹ 23,964 |
| ₹ 25,00,000 | 8.05% | 20 Years | ₹ 20,989 |
| ₹ 25,00,000 | 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 lakh home loan 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 lakh home loan 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 home EMI calculator as discussed below -
✅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.
Compare Home Loan EMI of All Banks
- SBI
- HDFC
- Citibank
- Bank of Baroda
- ICICI Bank
- Axis Bank
- PNB Housing Finance
- LIC Housing Finance
- Bajaj Home Finance
- Sundaram Home Finance
- Kotak Bank
- Yes Bank
- Syndicate Bank
- IDFC First Bank
- Karur Vysya Bank
- RBL Bank
- HSBC Bank
- Standard Chartered Bank
- Edelweiss
- GIC Housing Finance
- Reliance Capital
- IIFL
- Corporation Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- OBC
- PNB
- Indiabulls
- DCB Bank
- Dhan Laxmi Bank
- Karnataka Bank
- South Indian Bank
- Federal Bank
- Jammu And Kashmir Bank
- Lakshmi Vilas Bank
- Allahabad Bank
- Andhra Bank
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- UCO Bank
- Union Bank of India
- United Bank of India
- DBS Bank
- India Shelters
- LT Housing Finance
- Piramal Housing Finance
- Aavas Financiers
- Aadhar Housing Finance
- Tata Capital Home Finance
- 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.
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