PNB housing finance
PNB housing finance – Depending on the sort of work and credit score, PNB Housing Finance offers house loans with interest rates starting at 7.20 percent per annum. Loans of up to 90% of the property’s cost can be obtained for a maximum payback period of 30 years. A processing fee of up to 0.50 percent of the loan amount (plus taxes) is imposed, with a minimum price of Rs.10,000.
PNB housing Loan Details
| Interest Rate | 7.20% p.a. onwards |
| Loan Amount | Minimum: NA, Maximum: 90% of property cost |
| Processing Fees | 0.25% – 0.50% of the loan applied for + Applicable Taxes (min 10000) |
| Penal Interest Rate | 2% per month on dues |
| Prepayment/Foreclosure Charges | NIL for floating-rate packages 2% to 3% for fixed-rate and non-individuals |
| Max Tenure | 30 Years |
| Rate Packages Available | Floating Rate |
Punjab National Bank has a branch called PNB Housing Finance. The bank has a large customer base and offers a variety of home loan options to the general public, private builders, government personnel, and others.
The following are the advantages and benefits of the PNB Housing Finance loans:
Interest rates as low as 7.20 percent per annum are available.
The PNBHFR is a floating rate of interest that is linked to the benchmark rate. When opposed to fixed-rate loans, this gives you the advantage of lower interest rates. You will save more money in the long run as a result of this.
PNB has partnered with well-known insurance organizations to ensure your loan repayments. This protects you financially in the event of unforeseen circumstances that may prevent you from repaying your loan.
The loan is disbursed quickly and without difficulty thanks to doorstep services.
PNB Housing Finance Loan Schemes
Home Purchase Loan: This loan is used to buy a home in India.
Home Improvement Loan: This loan covers the renovation, upgrade, or repair of an already purchased home, including flooring, water-proofing, false ceilings, woodwork, tiling, plumbing, and electrical work.
Home Extension Loan: This loan can be used to expand your home to accommodate a growing family by adding an extra room or area.
Home Construction Loan: This will offer the funds needed to build a residential property on one’s own, particularly for people who already own land and want to build a home on it.
Residential Plot Loan: This is for buying a residential plot in order to build a house in a city.
Home loan for NRIs and PIOs: Home loan options for NRIs and PIOs can be used to buy or build a new home. It can also be used to renovate and repair residential homes in India, but only in India.
Unnati Home Loans: With a maximum loan amount of up to Rs.25 lakh (subject to 90 percent of the property’s market value), these loans offer a simpler and streamlined loan disbursal process. The interest rates start at 10.75 percent and go up from there.
Documents Required for Salaried Individuals
| Eligibility Proof | Documents Required |
| Proof of residence | Telephone bill/election card/ration card/driving license/passport/any relevant certificate from a Statutory Authority |
| Proof of age | Passport/PAN card/any relevant certificate from a Statutory Authority |
| Proof of educational qualifications | Latest degree certificate |
| Proof of income | Most recent salary slips of 3 months bank statements from salary account of the last 6 monthsForm 16 |
Documents Required for Professionals/Self-Employed Individuals
| Eligibility Proof | Documents Required |
| Proof of residence | Telephone bill/election card/ration card/driving license/passport/any relevant certificate from a Statutory Authority |
| Proof of age | Passport/PAN card/any relevant certificate from a Statutory Authority |
| Proof of educational qualifications | Latest degree certificate (for professionals) |
Proof of income
Returns on income from the previous three years. A Chartered Accountant will audit and certify the balance sheets and profit and loss account.
Bank statements from the previous year
Profile of a company
Certificate and Proof of business existence
Additional Requirements:
A completed application form with a photograph is required.
A photocopy of the approved plan or the deeds to the property.
Make a check payable to ‘PNB Housing Finance Ltd.’ for the processing fee.
Contact Number: 1800 120 8800
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