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Punjab and Sind Home Loan Interest Rates 2021

Punjab and Sind Bank Housing Loan Interest Rate -Today

Last Updated 20th May 2021

Current Punjab and Sind Bank Home Loan interest rates Jul 2021 starts at 8.05% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Upto 0.25%, Minimum ₹ 1,000 Maximum ₹ 15,000.

Loan AmountPunjab and Sind Bank Home Loan Rate
Upto ₹ 30 Lakh8.05%
₹ 30 Lakh - ₹ 75 Lakh8.05%
₹ 75 Lakh - ₹ 1.50 Cr8.05%
Above ₹ 1.50 Cr8.05%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current Punjab and Sind Bank Home Loan Rate

Today Punjab and Sind Bank home loan interest rates are in the range of 8.05% to 8.40%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 8.05%.

Below-mentioned are Punjab and Sind Bank home loan rates for multiple housing schemes.

Punjab and Sind Bank Home Loan Scheme Interest Rates
Punjab and Sind Bank Home Loan8.05% - 8.40%

Punjab and Sind Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Punjab and Sind for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 8.05%
₹ 30 Lakh - ₹ 75 Lakh 8.05%
₹ 75 Lakh - 1.50 Cr 8.05%
Above ₹ 1.50 Cr 8.05%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 8.05%
₹ 30 Lakh - ₹ 75 Lakh 8.05%
₹ 75 Lakh - 1.50 Cr 8.05%
Above ₹ 1.50 Cr 8.05%

Punjab and Sind Bank Home Loan Processing Fee and Other Charges

Punjab and Sind Bank home loan processing charges are upto 0.25% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Punjab and Sind Bank charges a minimum processing of ₹ 1,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 0.25% of the loan amount; minimum processing fee of ₹ 1,000 to maximum fee of ₹ 15,000
Foreclosure Charges Nil for floating rate home loans

Punjab and Sind Home Loan Balance Transfer Interest Rates

Punjab and Sind Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Punjab and Sind Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Punjab and Sind Bank offers the lowest home loan balance transfer rate of 8.05%.

Illustration on Home Loan Interest Rate Punjab and Sind Bank
Maximum Annual Percentage Rate (APR) 8.06% to 8.41%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • Punjab and Sind Bank Home Loan Interest Rate: 8.05% to 8.40%
  • Processing Fee payable to: Upto ₹ 250
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 737 for 30 Years ₹ 1,00,000 loan at 8.05% (lowest rate, longest time period) to ₹ 2,047 for 5 Years ₹ 1,00,000 loan at 8.40% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 8.06% to 8.41%
  • Total cost payable over loan tenure: ₹ 1,22,052 for 5 Years loan to ₹ 2,65,660 for 30 Years loan

FAQs

What is Punjab and Sind Home Loan Interest Rate?

Punjab and Sind Home Loan interest rate ranges between 8.05% to 8.40%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Punjab and Sind reduced home loan rates?

Presently, Punjab and Sind offers personal loans at an interest rate starting at 8.05%. There has been no change in personal loan rates of Punjab and Sind for a long time and continue to stand at 8.05%.

Why should I opt for balance transfer to Punjab and Sind Bank?

Punjab and Sind Bank offers lowest Home Loan EMI of ₹ 737 per lakh availed at the lowest interest rate 8.05% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 737 per lakh, you should consider the option for a loan transfer to Punjab and Sind Bank from your existing bank.

  • Punjab and Sind Bank offers RBI Repo Rate linked Home Loan which starts at 8.05%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called Punjab and Sind Bank Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 4.05% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the Punjab and Sind Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then Punjab and Sind Bank Repo Rate linked Home Loan rate will cut from 8.05% to 7.9%.

What is the current Punjab and Sind Bank Home Loan rate?

The current Punjab and Sind Home Loan rate starts from 8.05% with a processing fee of Upto 0.25%, Minimum ₹ 1,000 and Maximum ₹ 15,000.Punjab and Sind housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Punjab and Sind offers different home loan rates for different home loan products.

Can Punjab and Sind Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Punjab and Sind to lower the home loan rates.

What are the interest rates of home improvement loans in Punjab and Sind?

You can avail of Punjab and Sind home loans for home improvement at regular home loan rates starting at 6.65%.

Can Punjab and Sind revise the home loan interest rates for their existing customers?

Punjab and Sind home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Punjab and Sind offer a concessional home loan interest rate for women?

Yes, Punjab and Sind offers special home loan interest rates for women. As against Punjab and Sind home loan rates for male which is 8.05%, the home loan interest rate for women starts at %.

What is the Punjab and Sind home loan rate of ₹ 25 Lakh for 15 years?

Punjab and Sind home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Punjab and Sind provides home loan interest rate starting at 6.65%.

At what interest rate does an Punjab and Sind employee get a home loan?

Punjab and Sind offers concessional home loan rates of about 1% than the current home loan rates to Punjab and Sind employees.

Is Punjab and Sind Bank home loan a floating rate loan or fixed-rate loan?

Punjab and Sind home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


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