The Punjab And Sind Bank is a major Public Sector bank in Northern India and working 100% on CBS platform.

The banks government shareholding is 81.42%. Of its 1320 branches and 800 ATM spread throughout India, 530 Branches are in Punjab state.

The bank is giving loan upto 20Lacs for Extension/ Repair / Renovation and for Construction/ Acquisition/ Purchase provide no maximum limits.

Interest rates:
Interest Rate 9.60% to 9.85%
Loan Tenure 15 years
Processing charges Loans upto Rs. 25 Lac:0.15% on the loan amount, subject to minimum of Rs. 1000/- and maximum of Rs. 3000/-
(Loans > Rs. 25 L < Rs. 50 L - 0.25% subject to maximum of Rs. 10,000)
(Loans > Rs. 50 L < Rs. 75 L - 0.25% subject to maximum of Rs. 15,000)
(Loans = Rs. 75 L & above – 0.25%)
Guarantor Requirement Required
Pre-closure Charges Nil

Rate Of Interest

The following MCLR rates are applicable for new loans sanctioned:

Tenor Rate Of Interest (%)
Overnight MCLR 9.2
One Month MCLR 9.3
Three Month MCLR 9.45
Six Month MCLR 9.55
One Year MCLR 9.6

Housing Loans
Loan Amount Rate of Interest (p.a.)
Upto Rs.75.00 lacs One Year MCLR(9.60%) = 9.60%
Above Rs.75.00 lacs One Year MCLR (9.60%) + 0.25%= 9.85%

Documentation needed to apply for an Punjab And Sind Bank Home Loan
Signed application form with photograph
Latest bank statements
Processing fee Cheque
ID and residence proof

Documentation for salaried applicants:
Last 3 years Income Tax Returns with computation of Income
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Documentation for self-employed applicants:
latest income tax returns
latest comupation of income