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Punjab & Sind Bank Loan Against Property Highlights |
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| Interest rates | PSB Mortgage: 10.05% to 11.30% p.a. |
| PSB SME Liquid Plus: 9.80% to 10.60% p.a. | |
| PSB Vyapar: 9.70% to 10.50% p.a. | |
| Loan amount | PSB Mortgage: Rs 5 Lakh to Rs 10 Crore |
| PSB SME Liquid Plus: Rs 10 Lakh to Rs 5 Crore | |
| PSB Vyapar: Rs 10 Lakh to Rs 10 Crore | |
| Loan tenure | PSB Mortgage: Up to 10 years |
| PSB SME Liquid Plus: Up to 7 years | |
| PSB Vyapar: Up to 10 years | |
| Processing fee | Term loan: 1% of the loan amount, minimum Rs 2,000 |
| Overdraft: 0.50% of the sanctioned limit | |
| LTV Ratio | PSB Mortgage: Up to 50% value of immovable property |
| PSB SME Liquid Plus & PSB Vyapar: Up to 65% value of immovable property | |
Note: Interest rates as of 20 November 2024
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Table of Contents
Punjab and Sind Bank Loan Against Property Interest Rates
Interest rates of different schemes of loan against property offered by Punjab and Sind Bank are as follows:
PSB Mortgage Interest Rates
| CIBIL Score | Interest rate (p.a.) |
| 768-900 | 10.05% |
| 753-767 | 10.15% |
| 732-752 | 10.35% |
| 690-731 or -1,3,4,5 | 10.95% |
| 641-689 | 11.30% |
PSB SME Liquid Plus Scheme
Overdraft
| Particulars | Rate of Interest (p.a.) |
| PSB Rating 1 & 2 | 9.80% |
| PSB Rating 3 & 4 | 9.95% |
| PSB Rating 5 | 10.05% |
| PSB Rating 6 & 7 | 10.50% |
Working capital term loan (repayable up to 5 years)
| Particulars | Rate of Interest (p.a.) |
| PSB Rating 1 & 2 | 9.95% |
| PSB Rating 3 & 4 | 10.05% |
| PSB Rating 5 | 10.15% |
| PSB Rating 6 & 7 | 10.55% |
Term loan (repayable up to 10 years)
| Particulars | Rate of Interest (p.a.) |
| PSB Rating 1 & 2 | 10.20% |
| PSB Rating 3 & 4 | 10.30% |
| PSB Rating 5 | 10.35% |
| PSB Rating 6 & 7 | 10.60% |
PSB Vyapar
Overdraft
| Particulars | Rate of Interest (p.a.) |
| PSB Rating 1 & 2 | 9.70% |
| PSB Rating 3 & 4 | 9.85% |
| PSB Rating 5 | 9.95% |
| PSB Rating 6 & 7 | 10.40% |
Working capital term loan (repayable up to 5 years)
| Particulars | Rate of Interest (p.a.) |
| PSB Rating 1 & 2 | 9.85% |
| PSB Rating 3 & 4 | 9.95% |
| PSB Rating 5 | 10.05% |
| PSB Rating 6 & 7 | 10.45% |
Term loan (repayable up to 10 years)
| Particulars | Rate of Interest (p.a.) |
| PSB Rating 1 & 2 | 10.10% |
| PSB Rating 3 & 4 | 10.20% |
| PSB Rating 5 | 10.25% |
| PSB Rating 6 & 7 | 10.50% |
The final loan against property interest rates offered may depend on the income profile, job profile, monthly income, etc of the loan applicant.
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 10.00-11.30 | |
| Bank of Baroda | 10.85-18.60 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.40-12.75 | Apply Now |
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Punjab and Sind Bank Fees and Charges
Processing fee
| Term loan | 1% of the loan amount, with a minimum Rs 2,000 |
| Overdraft | 0.50% of sanctioned limit and to be collected on sanction and at the time of renewal every year. |
Pre-payment Charges
| For individuals | Floating rate: NIL |
| For others | Up to Rs 1 crore: |
| Working capital: 2% of sanction limit | |
| Term loan: 2% of outstanding | |
| Non-fund limit: 1% of sanction limit | |
| Above Rs 1 crore: | |
| Working capital: 1% of sanction limit | |
| Term loan: 1% of outstanding | |
| Non-fund limit: 1% of sanction limit |
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Types of Punjab and Sind Bank Loan Against Property
PSB Mortgage Loan
- Purpose: To meet finances for expenses related to marriage, education, medical, repairs, renovation, extension to the residence or commercial property, purchasing consumer durable or for meeting any unforeseen expenses. PSB Mortgage Loan is also offered for financing trade or commercial activities or other business requirements.
- Loan amount: Rs 5 Lakh to Rs 10 Crore
- Loan tenure: Up to 10 years
- Security: NSCs (Margin 25%) /Bank’s Own Deposits (Margin 10%) /LIC Policies (Margin 10%) may be taken to supplement the overall security requirements
Concession in ROI to MSMEs:
- 0.25% for cases, where external credit rating is 1 to 4 by SMERA, ICRA, ONICRA or CRISIL
- 0.25% if the account is classified under Priority Sector Advances.
PSB SME Liquid Plus
- Purpose: To arrange finances for meeting liquidity mismatches and expenses related to activities such as marketing, branding, product development, research and development, raw materials, etc. of micro, small and medium enterprises.
- Loan amount: Rs 10 Lakh to Rs 5 Crore
- Loan tenure:
- Term loans: Up to 7 years
- Overdraft: Repayable on demand
- LTV Ratio: Up to 65% of the realizable value of immovable property
- Security: NSCs (Margin 25%) /Bank’s Own Deposits (Margin 10%) /LIC Policies (Margin 10%)
Concession in ROI to MSMEs:
- 1.00% for cases where realizable value of security offered as primary security to the credit facility is available to the tune of 200% or more.
- 25% for cases, where external credit rating is 1 to 4 by SMERA, ICRA, ONICRA or CRISIL
- 25% if the account is classified under Priority Sector Advances.
PSB Vyapar
- Purpose: To meet the working capital requirements of businesses. PSB Vyapar can also be used for shop construction on pre-owned land and for purchasing ready-built shops or commercial space for business.
- Loan amount: Rs 10 Lakh to Rs 10 Crore
- Loan tenure:
- Term loan: Up to 10 years (with 12 months of moratorium period)
- Working Capital Term Loan: Up to 5 years
- Overdraft facility: Repayable on demand
- LTV Ratio: Up to 65% of the value of immovable property
- Security: NSCs (Margin 25%) /Bank’s Own Deposits (Margin 10%) /LIC Policies (Margin 10%)
- Guarantee: Personal guarantee of owners of property, spouse/ major son of proprietors, directors/partners
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Punjab and Sind Bank Loan Against Property Eligibility Criteria
PSB Mortgage Eligibility Criteria
- Salaried individuals and MSME who are income tax assessee.
- Partnership firms, Proprietary firms, Companies (Pvt./Public Ltd.), HUFs, Trusts, Societies, NRIs (subject to compliance of guidelines of Bank & RBI).
- In case of Firms/Companies & Trusts, credit facility may be considered against the property owned by Partner/Director/Trustee
- Credit facility against agricultural property is strictly not permitted. Credit facility shall not be permitted against security of immovable property wherein Educational/ Religious Institutions are located. Vacant land may preferably be not taken as security under the scheme.
- Minimum age should be 18 years and maximum age should be 65 years, with commercial/residential property.
PSB SME Liquid Plus Eligibility Criteria
- Micro, Small & Medium Enterprises engaged in the manufacturing and services sector.
- Existing MSMEs with good track record and new MSMEs having satisfactory Due Diligence Report.
- The MSMEs may be an Individual, Partnership firm, Private/Public Limited Company, Co-operative Society.
- The borrower should maintain the Working Credit Limit accounts with Punjab & Sind Bank only and not with any other bank or financial institution.
- Credit facility against agricultural property is strictly not permitted. Credit facility shall not be permitted against security of immovable property wherein Educational/ Religious Institutions are located. Vacant land may preferably be not taken as security under the scheme.
PSB Vyapar Eligibility Criteria
- Retail traders/wholesale traders
- Contractors
- Professional and self-employed individuals
- MSME Service enterprises/ Manufacturing concerns
- Newly established entity/ventures, based on merit and individual case
- Credit facility against agricultural property is strictly not permitted. Credit facility shall not be permitted against security of immovable property wherein Educational/ Religious Institutions are located. Vacant land may preferably be not taken as security under the scheme.
In addition to the above-mentioned eligibility criteria, Punjab and Sind Bank may also consider the, credit score, assets owned, liabilities etc., of its loan against property applicants, as used by many lenders for evaluating the loan against property eligibility of their applicants.
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Punjab and Sind Bank Loan Against Property Documents Required
- Age proof document
- Address and Identity proof document
- Related papers of immovable property proposed for mortgage
- Income proof
- Salaried Class: Original/Certified copy of the salary slips for the past 3 months, ITR/ Form No. 16 of the last 3 years (wherever applicable)
- Business/Other individuals: Proof of Business & address, ITRs and Audited/Certified Balance Sheets (wherever applicable) for the last 3 years of business/activity.
- Statement of personal asset and liability
- In case of other bank, bank account statement for the last 6/12 months
- Bio-data with educational qualifications, age, job experience, nature of business/profession, etc, with required proof
- Income proof of parents/spouse/earning children (whichever applicable) to determine the loan amount and repayment capacity
- Guarantor’s form with income proof or net worth proof
- Guarantor’s IT returns of last 2 years
- Undertaking from the employer for remittance of monthly installment
Additional Documents Required for PSB Vyapar
- Documents related to sales/turnover (balance sheet/ Challans etc), GST Returns if applicable
- Quotations of machinery/equipment to be purchased.
- In case of purchase of shop/commercial space- Agreement/ Property related documents.
- Projections
Along with the above-mentioned list of loan against property documents, the bank may ask for more documents at its discretion.