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
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:
25% of FMV of plot (In terms of Bank’s extant guidelines on valuation of property) up to a finance amount of Rs.100 lac upfront
40% of FMV of plot (In terms of Bank’s extant guidelines on valuation of property) for the finance amount over and above Rs.100 lac upfront.
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& up to Rs.75 lakh
25% of the value of construction, proportionate for loans above Rs. 75 lakh)
For purchase of plot and construction (project):
For purchase of plot: 30% of FMV of land / plot (In terms of Bank’s extant guidelines on valuation of property) upfront. Also ensure that finance for acquisition of land / plot shall not exceed 60% of the sanction limit of project (i.e. plot+ construction).
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& up to Rs.75 lakh
25% of the value of construction, proportionate for loans above Rs. 75 lakh
(loan amt. for ascertaining margin would be sanctioned limit for the project i.e. for plot + for construction)
For Purchase of Built up dwelling unit:
10% of the total value of property for loans up to Rs. 30 lakh up-front
20% of the total value of property for loans above Rs. 30 lakh & up to Rs. 75 lakh up-front
25% of the total value of property for loans above Rs. 75 lakh up-front
For Extension / Renovation /Repair:
10% of the total estimated cost, proportionate for loans up to Rs. 20 lakh
For Purchase of Flat from Society/ Builder:
10% of the total value of property, proportionate for loans up to Rs. 30 lakh.
20% of the total value of property, proportionate for loans above Rs. 30 lakh & up to Rs. 75 lakh.
25% of the total value of property, proportionate for loans above Rs. 75 lakh.
@ 0.15% on the loan amount + GST, subject to minimum of Rs. 1000/- + GST and maximum of Rs. 3750/- + GST
(ii)
Loans above Rs. 25 Lakh & upto Rs. 50 lakh
@ 0.25% of the loan amount +GST and maximum of Rs. 12500/- + GST
(iii)
Loans above Rs. 50 Lakh & less than Rs. 75 lakh
@ 0.25% of the loan amount + GST and maximum of Rs. 15000/- + GST
(iv)
Loans of Rs. 75 Lakh & above
@ 0.25% of the loan amount + GST
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.
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:
Prepayment
No pre-payment charges.
Guarantee
In case of Co-borrower: Obtaining of Guarantee may be waived.
In all other cases: Guarantee of spouse, Major son or third party 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 to be obtained. However, in case of Co-borrower, the Obtaining of Guarantee may be waived with the condition that if spouse of the Borrower/s is available and is not the Co-borrower, then guarantee of spouse to be taken invariably.
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A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
