• A- A A+

PSB Apna Ghar

Purpose

For Purchase of dwelling unit/Construction/ Purchase of Plot and construction/ Extension/ Repair / Renovation

Eligibility

Individuals, Group of individuals, and individual members of housing societies are eligible under the scheme

Age

Minimum: 18 years  Maximum: subject to maximum age for repayment period

Quantum of Finance

For construction of house or purchase of house/ flat/ Plot : Need based finance, with no Maximum limit
For repairs / renovation / additions / alterations : Maximum Rs. 20.00 lac.

Margin

i. For Purchase of Plot only, offered / allotted by Govt. authorities and/ or Builders who are Bank’s borrowers::

  • a) 25% of Fair Market Value of plot for loan amount upto Rs.100 lakh
  • b) 40% of Fair Market Value of plot for loan amount above Rs.100 lakh
 

ii. For construction (plot already owned):

  • • 10% of the value of construction, proportionate for loans up to Rs. 30 lakh
  • • 20% of the value of construction, proportionate for loans above Rs. 30 lakh
 

iii. For purchase of plot and construction (project):

  • a. For purchase of plot: 30% of Fair Market Value of land / plot.
  • b. For construction

    • 10% of the value of construction, proportionate for loans up to Rs. 30 lakh

    • 20% of the value of construction, proportionate for loans above Rs. 30 lakh
    (Loan amt. for ascertaining margin would be sanctioned limit for the project i.e. for plot + for construction)

 

iv. For Purchase of Built up dwelling unit/Flat:

  • • 10% of the total value of property for loans up to Rs. 30 lakh
  • • 20% of the total value of property for loans above Rs. 30 lakh
 

v. For Extension / Renovation /Repair: 10% of the total estimated cost

Rate of Interest

Please click here For rate of interest 

Processing fee

Please click here For Processing fee

 

Documentation charges

Actual Stamp/Revenue expenses only

Security

The security for the loan shall be first charge by way of equitable / registered mortgage of the property. The title of the property must be clear, marketable and free from encumbrance.

If an intending borrower who has purchased / has entered into an agreement to buy housing property on power of attorney basis offers sufficient collateral in the shape of equitable mortgage of any other property and / or Govt. Security (ies), the same may be considered and the property / security obtained at the time of sanction may be released after obtaining the equitable mortgage of Housing property financed which shall remain the primary security for the loan. During the intervening period the property financed by the bank shall remain charged to the bank.

Mode & Period of loan

For purchase of plot: The loan shall be allowed only in the shape of term loan for a maximum tenor of 15 years.
For Extension / Renovation /Repair: The loan shall be allowed only in the shape of term loan for a maximum tenor of 15 years.
 For purchase of built up house/construction/Purchase of plot & construction: The loan is allowed only in the shape of term loans for a maximum tenor of 30 years ascertaining that the present age plus tenure of loan not to exceed the following age criteria:

A

For salaried class (non pensionable)

Loan to be adjusted upto the age of 60 years

B

For salaried class(pensionable)

Loan to be adjusted upto the age of 70 years

C

For other than salaried class

Loan to be adjusted upto the age of 70 years

Take Home Salary/Income

The amount of installment and repayment schedule to be fixed in such a manner so that the borrower gets the carry home salary/income, of his/ her total emoluments/earnings after the deductions, inter-alia, on account of installment of housing loan, as under:

Income Upto Rs. 10 lacs p.a.

40%

Income above Rs. 10 lacs to Rs. 25 lacs p.a.

30%

Income above Rs. 25 lacs p.a.

20%

Prepayment

No pre-payment charges.

Guarantee

In case of Co-borrower
Third Party Guarantee may be waived.

In all other cases
guarantee of spouse or Major son may be obtained, if available

In cases, where sale deed/ lease deed/conveyance deed is to be registered after a considerable gap like in cases of Installment/construction linked plan e.g. Authority/ Society/ Builder’s flats/plots: Guarantee of earning spouse/ major son or suitable third party guarantee must be obtained.

Click Here to view Complete Checklist  

Click Here to Apply for Retail Loan  

×

“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”

Accept

Decline