Punjab & Sind Bank Home Loan for Salaried Person

In today's fast-paced world, a home is more than just a financial asset. Punjab & Sind Bank understands this, which is why the bank has introduced a special home loan programme for salaried individuals. Developed with the needs of the customer in mind, Punjab & Sind Bank Home Loan for Salaried Individuals strives to make homeownership accessible and affordable for working professionals. With competitive interest rates beginning at 8.50% annually, extended loan tenures, and special concessions for women, the bank serves a wide range of customers, including non-pensionable salaried individuals, pensionable employees, and distinguished women professionals, so there is sure to be a perfect match for every borrower.

Punjab & Sind Bank Home Loan for Salaried Person – Highlights

Punjab & Sind Bank offers a comprehensive home loan scheme tailored for the salaried class, providing an array of benefits and features designed to make home ownership more accessible and affordable.

Punjab & Sind Bank Home Loan for Salaried Person – Fees and Charges

Following are the Fees and Charges of Punjab & Sind Bank:

• Processing Fee: Up to 0.25% of the loan amount with concessions available for certain customers.
• Documentation Charges: Actual stamp/revenue expenses only.

Punjab & Sind Bank Home Loan for Salaried Person – Documents Required

​​The documentation process is streamlined to be as smooth as possible. Here’s what salaried individuals need to provide:

• Application form with a recent photograph
• Identity Proof (Aadhaar, Passport, etc.)
• Residence proof
• Salary slips for the last 3 months
• Bank statements for the last 6 months
• Form 16 or Income Tax Returns

Punjab & Sind Bank Home Loan for Salaried Person – Eligibility Criteria

Here’s the eligibility criteria for a home loan:

• Age: Applicants should be between 18 to 70 years old.
• Income: A minimum income of Rs. 25,000 is required.
• Credit Score: A credit score above 750 is preferred.
• Employment Status: The applicant can be either salaried or non-salaried.
• Work Experience: At least 2 years of work experience is needed.
• Loan Amount: The amount of the loan is determined by the lender based on various factors.
• Residence Type: Both permanent residents and Non-resident Indians (NRIs) are eligible to apply.
• LTV Ratio: Loans can be availed for up to 90% of the property’s value.
• Property Type: Eligible properties include completed or under-construction projects, land/plots, properties built on own land, or land for buying and building a home.