55 Lakh Punjab & Sind Bank Home Loan

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Borrowers can choose a comfortable ₹55 Lakh home loan from Punjab & Sind Bank, which offers flexible repayment alternatives. The bank uses competitive interest rates in calculating Punjab & Sind Bank's ₹55 Lakh home loan EMI, which guarantees affordable monthly payments. Both salaried and self-employed people can apply for the ₹55 Lakh home loan at Punjab & Sind Bank. The Punjab & Sind Bank home loan ₹55 Lakh EMI is made to meet the needs of borrowers and gives them a cost-effective method to finance their ideal home.

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Table of Content

1. 55 Lakh Home Loan Punjab & Sind Bank Highlights

2. 55 Lakh Home Loan EMI for 5 years Punjab & Sind Bank

3. 55 Lakh Home Loan EMI for 10 years Punjab & Sind Bank

4. 55 Lakh Home Loan EMI for 15 years Punjab & Sind Bank

5. 55 Lakh Home Loan EMI for 20 years Punjab & Sind Bank

6. 55 Lakh Home Loan EMI for 25 years Punjab & Sind Bank

7. 55 Lakh Punjab & Sind Bank Home Loan Fees and Charges

8. 55 Lakh Punjab & Sind Bank Home Loan Documents Required

9. 55 Lakh Punjab & Sind Bank Home Loan Eligibility Criteria

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Rishabh Baisoy
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Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

₹55 Lakh Home Loan Punjab & Sind Bank – Highlights

Here are Punjab & Sind Bank home loan interest rates for ₹55 lakh, along with highlights:

Maximum Loan Amount ₹55,00,000
Applicable Interest Rate Starting from 9.85% varies with the CIBIL score
Maximum Repayment Period Up to 30 years
Fee for Processing 0.25% of the loan amount
Prepayment Fee None

₹55 Lakh Home Loan EMI for 5 years Punjab & Sind Bank 

Punjab & Sind Bank housing loan EMI for ₹55 lakh is mentioned below in detail:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹55 lakh 9.85% p.a. 5 years ₹1,16,453 ₹14,87,193 ₹69,87,193

₹55 Lakh Home Loan EMI for 10 years Punjab & Sind Bank 

Here is the ₹55 lakh home loan EMI for 10 years from Punjab & Sind Bank in a detailed format:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹55 lakh 9.82% p.a. 10 years ₹72,226 ₹31,67,219 ₹86,67,219

₹55 Lakh Home Loan EMI for 15 years Punjab & Sind Bank 

Here is the ₹55 lakh home loan EMI for 15 years from Punjab & Sind Bank, along with highlights:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹55 lakh 9.82% p.a. 15 years ₹58,599 ₹50,47,927 ₹1,05,47,927

₹55 Lakh Home Loan EMI for 20 years Punjab & Sind Bank

₹55 lakh home loan EMI for 20 years Punjab & Sind Bank is as follows:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹55 lakh 9.85% p.a. 20 years ₹52,530 ₹71,07,380 ₹1,26,07,380

₹55 Lakh Home Loan EMI for 25 years Punjab & Sind Bank 

Punjab & Sind Bank home loan of ₹55 lakh EMI for 25 years is mentioned below in the detailed format:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total Amount Payment
₹55 lakh 9.85% p.a. 25 years ₹49,398 ₹93,19,445 ₹1,48,19,445

₹55 Lakh Punjab & Sind Bank Home Loan – Fees and Charges 

Punjab & Sind Bank offers a detailed fee structure for its home loan products, ensuring transparency and clarity for borrowers. Here is the detailed fee structure of ₹55 Lakh Punjab & Sind Bank Home Loan:

Processing Fee for Home Loans
  • Loans up to ₹25 lakh: 0.15% fee.
  • Minimum fee: ₹1,000
  • Maximum fee: ₹3,750
Prepayment Charges
  • There are no prepayment fees for borrowers.
Additional Costs
  • The bank will charge documentation-related expenses (e.g., stamp duty and statutory charges) as per actual costs.
Top-Up Loan Fee
  • For loans up to ₹10 lakh: 0.15% fee.
  • Minimum fee: ₹1,000
  • Maximum fee: ₹3,750
Guarantor Policy

 
  • The bank will require a guarantor, usually a spouse or major son.
  • Third-party guarantees may be waived in some cases.
Interest Rate Based on CIBIL Score
  • CIBIL Score 768-790: 0.20% spread, EBLR at 8.65%.
  • CIBIL Score 753-767: 0.35% spread, EBLR at 8.80%.
  • CIBIL Score 732-752: 0.55% spread, EBLR at 9.00%.
  • CIBIL Score 690-731: 0.90% spread, EBLR at 9.35%.
  • CIBIL Score 641-689: 1.40% spread, EBLR at 9.85%.

₹55 Lakh Punjab & Sind Bank Home Loan – Documents Required

Below are the required documents to get a ₹55 lakh loan from Punjab & Sind Bank:

  • Identity Proof: Passport, Aadhaar Card, PAN Card, or any valid government-issued ID.
  • Address Proof: Utility bills, Aadhaar Card, Voter ID, or any official document verifying the address.
  • Age Verification: Birth Certificate, Passport, PAN Card, or any document confirming age.

Income Documentation:

Salaried Applicants Self-Employed Applicants
  • Recent salary slips.
  • Form 16 or last two years’ Income Tax Returns.
  • Bank statements for the previous six months.
  • Proof of business ownership.
  • Income Tax Returns for the last three years.
  • Profit & Loss statements and Balance Sheets for the previous three years.
  • Bank statements for the last six months.

 

Property Documents:

Agreement for sale, sale deed. Approved building plan.
Property tax receipts. No Objection Certificate (NOC) from the builder or society (if applicable).
Encumbrance certificate.

Additional Requirements:

Passport-sized photographs. Processing fee cheque.
Fully completed and signed loan application form.

₹55 Lakh Punjab & Sind Bank Home Loan – Eligibility Criteria

₹55 Lakh home loan eligibility for Punjab & Sind Bank caters to salaried and self-employed individuals and members of registered housing societies. Applicants must be at least 18 years old to qualify. Salaried individuals who are not pensionable must complete the loan repayment by the age of 60. However, the repayment period extends until 70 for salaried pensionable individuals and other applicants. This structure ensures flexibility for different types of borrowers, allowing them to manage their loan repayment comfortably within their working or retirement years.

Frequently Asked Questions (FAQs)

What is the EMI for a ₹55 lakh Home Loan for 20 years in Punjab & Sind Bank?

The EMI for a ₹55 lakh Loan in Punjab & Sind Bank for 20 years will be ₹38,204.

Who is eligible for a ₹55 lakh Home Loan in Punjab & Sind Bank?

Eligibility for a ₹55 lakh home loan at Punjab & Sind Bank includes salaried individuals, self-employed professionals, and members of housing societies, with applicants needing to meet age and income criteria.

What is the monthly interest rate of a ₹55 lakh home loan in Punjab & Sind Bank?

The interest rate for a ₹55 lakh home loan in Punjab & Sind Bank ranges from 9.85% to 10.62%.

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