For Purchase of built-up house / Flat / Construction / Purchase of Plot and construction / Purchase of Plot only / Purchase of Flat from Society or Builder.
Cost of fixture / interior: 15% of the cost of the house / flat or Rs. 25 lakh, whichever is lower, may also be financed as a part of the Housing Loan.
Salient Features
The Home Loan account shall be linked with a Savings Bank account.
Rate of interest applicable on the linked Savings Bank account shall be ZERO. The balance in this account shall be netted off from the loan amount.
The borrower shall get the benefit of reduction of interest in the Home Loan account to the extent of the daily outstanding credit balance in the linked Savings Bank account.
Borrower has the option to deposit all his / her savings in the linked Savings Bank account to avail maximum benefit of interest in the Home Loan account.
The linked account can be operated as a normal savings account, with Cheque Book, Debit Card, Internet Banking, Mobile Banking, UPI and PSB UNIC facilities.
Actual interest debited in the Home Loan account shall be considered for issuance of the interest certificate for the purpose of income tax deduction.
Eligibility
Individuals, Group of individuals and individual members of housing societies.
The borrower(s) must have a permanent source of income, adequate enough to service the debt obligation.
Age limit
Minimum: 18 years
Maximum: Subject to adjustment of loan before the age of:
Service class without pension – 60 years
Service class with pension or NPS – 70 years
Others – 70 years
Quantum of Finance
Minimum: Rs. 50 Lakh
Maximum: Need based finance
Margin
i.) For Purchase of Plot only, offered / allotted by Govt. authorities and / or Builders who are Bank's borrowers:
25% of FMV of plot (in terms of Bank's extant guidelines on valuation of property) up to a finance amount of Rs. 100 lac upfront
40% of FMV of plot (in terms of Bank's extant guidelines on valuation of property) for the amount above Rs. 100 lac upfront
ii.) For construction (plot already owned):
20% of the value of construction, proportionate for loans up to Rs. 75 lakh
25% of the value of construction, proportionate for loans above Rs. 75 lakh
iii.) For Purchase of plot and construction (project):
For purchase of plot: 30% of FMV of land / plot (in terms of Bank's extant guidelines on valuation of property) upfront. Also ensure that finance for acquisition of land / plot shall not exceed 60% of the sanction limit of the project (i.e. plot + construction).
For construction:
20% of the value of construction, proportionate for loans up to Rs. 75 lakh
25% of the value of construction, proportionate for loans above Rs. 75 lakh (Loan amount for ascertaining margin would be the sanctioned limit for the project i.e. for plot + for construction)
iv.) For Purchase of Built up dwelling unit:
20% of the total value of property for loans up to Rs. 75 lakh upfront
25% of the total value of property for loans above Rs. 75 lakh upfront
v.) For Purchase of Flat from Society / Builder:
20% of the total value of property, proportionate for loans up to Rs. 75 lakh
25% of the total value of property for loans above Rs. 75 lakh
Maximum loan amount shall be restricted to the LTV Ratio as prescribed by RBI.
Rate of interest is linked to the credit score of the borrower and is subject to change from time to time.
PSB Apna Ghar – CRE: Rate of interest will be 0.50% higher than the applicable rate of interest for PSB Apna Ghar Samriddhi.
Period of Loan
Maximum 30 years, subject to maximum age.
For Purchase of Plot only: Maximum 15 years.
Repayment
Loan repayment shall be in Equated Monthly Instalments (EMIs) comprising of principal and interest.
Borrower can enhance the quantum of instalment, or make a lump sum payment and request reduction of EMI accordingly. No fee shall be charged by the Bank for change of EMI amount.
Prepayment charges
NIL
Processing Charges
Loans less than Rs. 75 lakh: 0.25% of the loan amount + GST, maximum Rs. 15,000/- + GST
Loans of Rs. 75 lakh and above: 0.25% of the loan amount + GST
Inspection Charges
NIL
Documentation Charges
Actual Stamp / Revenue / Legal opinion / Valuation report / Index inspection / Mutation expenses etc.
Security
Mortgage of the property financed.
Guarantee
In case of Co-borrower: Obtaining of Guarantee may be waived.
In all other cases: Guarantee of spouse, major son or third party may be obtained, if available.
ADC Facilities
Borrower shall be eligible for Cheque Book facility, Debit Card, Internet Banking facility, Mobile Banking facility and UPI on the linked Savings Bank account.
Charges for Cheque Book, ATM Card etc. shall be as applicable as per the extant guidelines of the Bank.
Insurance
The property shall be kept fully insured by the borrower against fire, riots and other appropriate hazards such as earthquake, flood etc., with the usual Bank clause.
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“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsind.bank.in/ and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsind.bank.in/ and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
