Punjab & Sind Bank Home Loan for Self Employed

Punjab & Sind Bank home loan for non-salaried people is a customised credit option. Whether you want to purchase, construct, renovate, or extend your home, Punjab & Sind Bank offers a tailored home loan scheme. Punjab & Sind Bank understands the typical struggles a self-employed individual may face to secure a home loan, as many lenders consider them risky applicants due to their uncertain income. Thus, the bank offers more lenient eligibility criteria, minimal documentation, online application, competitive interest rates, flexible repayment plans, and lower processing fees, making it a more borrower-friendly credit option. To learn more, continue to scroll down. Hereunder, Urban Money details the Punjab & Sind Bank home loan eligibility for self-employed people, associated fees, eligibility, and other key parameters. Let’s get started.

Punjab & Sind Bank Home Loan for Self-Employed – Highlights 

Following are the key parameters of Punjab & Sind Bank home loan for non-salaried people: 

Punjab & Sind Bank Home Loan for Self-Employed – Fees and Charges 

In addition to the Punjab & Sind Bank home loan interest rate for self-employed people, certain fees and charges are associated with this loan, such as: 

Punjab & Sind Bank Home Loan for Self-Employed – Documents Required 

Following are the Punjab & Sind Bank home loan documents required for self-employed people: 

• Application Form: A completed home loan application form duly signed.
• Photographs: Recent passport-size photographs signed across by the applicant, co-applicant, and guarantor.
• Identity Proof: PAN card, Aadhaar card, or any other certificate from a statutory authority.
• Address Proof: Aadhaar card, Passport, Driving License, Telephone Bill, Ration Card, Election Card, or any other certificate from a statutory authority.
• Income Proof: P&L statements certified by a CA, balance sheet, proof of business address, VAT or service tax registration papers, and details of business incorporation.

Punjab & Sind Bank Home Loan for Self-Employed – Eligibility Criteria 

Following are the Punjab & Sind Bank home loan eligibility for self-employed people:

• Age: Applicants should be at least 18 years old when they apply and not older than 60 at loan maturity.
• Income: A steady source of income is required, with a minimum monthly income threshold set by the bank.
• Business Continuity: Applicants must have a minimum business continuity of 3 years is often required.
• Credit Score: Applicant must have a good credit score, preferably 700 or above.
• Nationality: Applicant must be an Indian citizen.