Punjab and Sind Bank Home Loan
Punjab and Sind Bank Home Loan
As on 11 Apr 2009
It was in the year 1908, when a humble idea to uplift the poorest of poor of the land culminated in the birth of Punjab & Sind Bank with the far-sighted vision of luminaries like Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh. They enjoyed the highest respect with the people of Punjab.
Bank’s Housing Loan Scheme
Eligibility
Individuals, Group of individuals, and individual members of Co-operative housing societies are eligible under the scheme. Maximum age limit of the borrower to be as under-
a) For salaried class 60 years
b) For salaried class (Pensionable) 65 years
c) For salaried class, pensionable and major son (earning member) stands as co-borrower 15 years repayment irrespective of date of retirement.
d) For other than salaried class 65 years
In case of salaried class pensionable and major son (earning member) stands as co-borrower the income of the co-borrower can be clubbed / considered for computing the eligibility of repayment.
Quantum of Finance
Up to Rs…150 lac
Guarantee
(i)In case of PSU / Govt. employees where EMI is paid through salary deduction guarantee of spouse. In case the guarantee of spouse is not available then suitable third party guarantee required
(ii)In all other cases, as far as possible, one more guarantee of substantial means in addition to the guarantee of spouse / suitable guarantee.