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20 Lakh Punjab & Sind Bank Home Loan
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Building or buying your affordable dream home will require some monetary assistance. Speaking of which, a 20 to 50 Lakh could be a good option for a budget home purchase. Urban Money is here to help you get the best financing solutions for building your dream home. Learn about the 20 Lakh Home Loan from Punjab & Sind Bank, which offers the lowest processing fees, competitive interest rates (ranging from 8.55% to 10%), and the most flexible repayment plans. This loan, “Apna Ghar,” aims to help individuals who want to live in housing societies and purchase a plot, constructive unit, or property for the same. Discover the eligibility criteria for this loan, along with all the documents required and the associated fees, to ensure that you qualify for the Punjab & Sind Bank 20 Lakh Home Loan. Here are the details.
- Personalized Home Loan solutions
- Expert guidance
- Application assistance
- Credit score discussion
- Home Loan Interest rate comparison
Table of Content
20 Lakh Home Loan Punjab & Sind Bank – Highlights
These features of the 20 Lakh Home Loan from Punjab & Sind Bank will help you decide whether you want to apply for this loan.
Metric | Information |
Age | Minimum 18 years, Maximum: No Limit |
Tenure of Loan | For Purchase of Plot: 15 years
For Renovation: 15 years For New Construction: 30 years |
Prepayment | No Charges |
Repayment Plans (Percentage of Salary to be taken home after repayment) | Income of 10 LPA: 40%
Income between 10 LPA to 25 LPA: 30% Income over 25 LPA: 20% |
20 Lakh Home Loan EMI For 5 Years from the Punjab & Sind Bank
These are the official repayment details if you want to take a 20 Lakh Home Loan EMI in the Punjab & Sind Bank.
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total amount Payment |
₹20 Lakh | 8.55% p.a. | 5 years | INR 41,081 | ₹4,64,860 | ₹24,64860 |
20 Lakh Home Loan EMI For 10 Years from the Punjab & Sind Bank
Here is the EMI for 20 Lakh Home Loan EMI in the Punjab & Sind Bank if you want to repay it in 10 years.
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total amount Payment |
₹20 Lakh | 8.55% p.a. | 10 years | INR 24,851 | ₹9,82,120 | ₹29,82,120 |
20 Lakh Home Loan EMI For 15 Years from the Punjab & Sind Bank
If you want to pay off your Punjab & Sind Bank Home Loan within 15 Years, these are the official EMI details and total interest payable.
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total amount Payment |
₹20 Lakh | 8.55% p.a. | 15 years | INR 19,753 | ₹15,55,540 | ₹35,55,540 |
20 Lakh Home Loan EMI for 20 Years Punjab & Sind Bank
The table below depicts the approximate 20 lakh home loan EMI in Punjab & Sind Bank if you want to repay it in 20 years, along with the total interest payable.
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total amount Payment |
₹20 Lakh | 8.55% p.a. | 20 years | INR 17,420 | ₹21,80,800 | ₹41,80,800 |
20 Lakh Home Loan EMI For 25 Years from the Punjab & Sind Bank
Here are the EMI charges and total interest for a 20 Lakh Home Loan from the Punjab & Sind Bank, to be paid off in 25 years.
Loan Amount | Interest Rate | Loan Tenure | EMI Amount | Total Interest Payable | Total amount Payment |
₹20 Lakh | 8.55% p.a. | 25 years | INR 16,172 | ₹28,51,600 | ₹48,51,600 |
20 Lakh Punjab & Sind Bank Home Loan – Fees and Charges
If you are applying for a 20 Lakh Home Loan from Punjab & Sind Bank, you will have to pay some bank-related fees and charges. This includes a minimal processing fee, which will be 0.15% of the total loan amount, minimum INR 1000, and maximum INR 3750. The documentation charges will be the same as the actual stamp expenses of the loan amount. Punjab & Sind Bank charges no pre-payment fee, allowing borrowers to pay off their loan at any time.
20 Lakh Punjab & Sind Bank Home Loan – Documents Required
Here are the necessary documents which you must submit to apply for a 20 Lakh Home Loan from the Punjab & Sind Bank:
Documents related to Home Loan
- Proof of payment for the residence
- Copy of the proposed map must be approved
- Permission for construction
- Agreement from the architect/ engineer
- Allotment letter from the society
- Documents related to the purchase of the plot
Personal Documents
- Signed application form
- Two passport-sized photos
- Documents for address, identity, and age verification
- Proof of income:
- For salaried individuals: Last three months’ salary slips and Form 16 for the past three years
- For business owners: Certified balance sheets for the last three months and business proof
- Asset and liability declaration
- Income verification documents
- Bank and loan account statements
- Detailed personal and professional resume
- Guarantor’s income proof and IT returns for the last two years
- Employer’s letter of undertaking
20 Lakh Punjab & Sind Bank Home Loan – Eligibility Criteria
To apply for a 20 Lakh Punjab & Sind Bank Home Loan, the borrower must be:
- Over 18 years of age
- Looking for a home in a registered housing society
- Title of the property to be free from any encumbrance
Frequently Asked Questions
What is the 20 Lakh Home Loan EMI for 20 years in Punjab & Sind Bank?
The EMI of a 20-Lakh Home Loan for 20 years in Punjab & Sind Bank is INR 17,420.
Who is eligible for a 20 Lakh Home Loan in Punjab & Sind Bank?
Anyone aged 18 and above who wishes to reside in a housing society is eligible for the 20 Lakh Home Loan in the Punjab & Sind Bank.
What is the monthly interest rate of a 20 Lakh home loan in Punjab & Sind Bank?
The monthly interest rate for a 30 Lakh home loan in Punjab & Sind Bank varies between 8.55 and 10%, depending on the applicant’s creditworthiness.