PSB Kisan Home Loan

CIBIL Score

• CIBIL Score of borrower should be 690 and above

Required Documents

• Completely filled application form with 2 passport sized photographs
• Address and ID proof
• Age Proof
• Income Proof
• Statement of personal asset and liability
• In case of other bank, bank account statement for past 6/12 months
• Loan account statement for past 6 months (if taken from some other bank/FII)
• Bio-data with educational qualifications, job experience, age, type of profession/business, etc.
• Income proof of spouse, earning children, or parents to determine the loan amount and repaying capacity
• ITR of guarantor for last 2 years
• Guarantor’s form along with net worth proof or income proof
• An undertaking from the employer for remittance of EMI
• Proof of advance/margin payment done for purchase of dwelling unit
• Permission from competent authority for house/flat construction
• Approved map/plan copy of proposed construction/purchase
• Sale agreement, sale deed, detailed estimate of the property to be constructed
• Allotment letter from co-operative society, development authorities, association of apartment owners

Loan Processing Charges

• Nil

Features

• Tenure: Up to 20 years (before 70 years of age of the borrower)
• Rate of Interest - 1 year MCLR i.e. 8.40% at present
• Repayment - Maximum repayment period is 20 years, subject to the condition that the entire loan amount including interest should be recovered before the borrower attains the age of 70 years. The repayment should commence not later than 6 months from the date of release of last disbursement ‘or’ 24 months from the date of first disbursement ‘or’ first harvest of the crops after the date of completion of house, whichever is earlier. The interest during the gestation period to be paid as and when it falls due.