PNB Housing Finance Loan for Dream House |

PNB Housing Finance Loan for Dream House

PNB, the state-owned multinational banking and financial services corporation offer loans for purchase, construction, and extension of dwelling units. The bank offers doorstep services ensuring easy and fast approval and disbursal of Home Loans. With a PNB Housing Loan, you can avail the facility of enhancement in loan amount in the event of escalations in cost. The bank offers various repayment options.

Types of PNB Housing Home Loans

Home Purchase Loan By Estabizz Fintech

Home Construction Loan By Estabizz Fintech

Home Extension Loan By Estabizz Fintech

Home Improvement Loan By Estabizz Fintech

Residential Plot Loan By Estabizz Fintech

Loan for NRIs By Estabizz Fintech

Unnati Home Loans By Estabizz Fintech

Pradhan Mantri Awas Yojana By Estabizz Fintech

Eligibility

The maximum age of the applicant should not above 70 years at loan maturity

Eligibility for NRIs

Applicant must be an Indian citizen/ Person of Indian Origin holding an Indian passport with NRI status on employment/ deputation/ assignment.

Applicant should be working in a foreign country for atleast 1-year before seeking a Home Loan (this condition doesn’t apply to people who are going abroad on deputation).

Eligibility for Unnati Home Loans

Applicant should have any Professional Degree/ Post Graduate Degree/ Diploma/ ITI, etc.

Applicant should be an employee of local & stable business entity like restaurant, petrol pump, garments shop, jewellery shop, etc. The employer can be in the business of proprietorship/ partnership/ limited company/ private limited/ trust, etc.

Applicant should be earning a fixed minimum monthly income of Rs. 10,000

The maximum age of the applicant should not above 70 years at loan maturity (if salaried) and 65 years (if self-employed professional or non-professional).

Interest Rate, Processing Fee and Other Charges

The current PNB Housing Home Loans interest rates are

Home Purchase Loan/ Home Construction Loan/ Home Extension Loan/ Home Improvement Loan:

7.10% – 7.90% (for salaried individuals & self-employed professionals)

7.95% – 9.75% (for businessmen & self-employed non-professionals)

Residential Plot Loan/ Loan for NRIs:

8.90% – 9.40% (for salaried individuals & self-employed professionals)

8.95% – 9.45% (for businessmen & self-employed non-professionals)

Unnati Home Loans:

10.75% (for salaried individuals & self-employed professionals)

12% (for self-employed non-professionals)

Processing fees

Up to 1% of the sanctioned loan amount + applicable taxes

Other charges

Prepayment charges:

NIL for floating rate of interest loan (for individual borrower)

2% of principal amount prepaid + applicable taxes for floating rate of interest loan (for non individual borrower being applicant/ co-applicant).

3% of principal amount prepaid + applicable taxes for fixed interest rate loan (for individual borrower and non individual borrower being applicant/ co-applicant).

NIL for fixed interest rate loan (for prepayment by own source except borrowing from a bank/ NBFC/ HFC/ any financial institution).

Charges for statement of account: Rs. 200 + applicable taxes

Charges for change of repayment mode (PDC to PDC/ NACH to NACH): Rs. 500 + applicable taxes

EMI payment fee for not submitting PDC or NACH Mandate Form: Rs. 500 + applicable taxes (per transaction).

Charges for loan preclosure statement/ list of original or photocopy of property documents: Rs. 500 + applicable taxes.

Fee for the return of Cheque/ NACH Mandate Form: Rs. 500 + applicable taxes

CERSAI Fees for loans disbursed before 31.01.2016: Rs. 500 + applicable taxes

CERSAI Fees for loans disbursed after 31.01.2016: Rs. 100 + applicable taxes

Fee for conversion of interest rate from floating to floating or floating to fixed: 0.50% of principal amount outstanding + applicable taxes.

Fee for conversion of interest rate from fixed to floating: 2% of principal amount outstanding + applicable taxes.

Overdue charge: 2%/ month on overdue amount to be paid + applicable taxes

Documents Required

Common documents for all applicants

Duly filled application form

Recent passport-sized photographs

Proof of age (any one): Passport/ PAN card/any other certificate issued by Statutory Authority

Proof of residence (any one): Passport/ Election Card/ Telephone Bill/ Driving License/ Ration Card/ any other certificate issued by Statutory Authority.

Cheque for processing fee in favour of ‘PNB Housing Finance Ltd.’

Photocopy of approved plan and title documents of the property

Documents for salaried applicants

Education qualifications proof (latest degree)

Last 3 months’ salary slips

Last 2 years’ Form 16

Last 6 months’ bank statements of salary account

Documents for self-employed/ professionals

Education qualifications proof (latest degree for professionals)

Certificate and business existence proof along with business profile

Last 3 years’ ITRs (for self and business) with balance sheets and profit & loss account duly

certified/audited by a CA.

Last 12 months’ bank account statements ( for self and business)

Documents for salaried NRI applicants

Education qualifications proof (latest degree)

Passport/ PIO Card copy

Work Permit copy (if applicable)

Recent 3 salary slips

Appointment letter by current employer

Last 2 years’ income statement from employer(s)

Last 6 months’ bank statements showing salary credits

Detailed cost estimate by an Architect or Valuer in case of property construction/ renovation

Why to Choose PNB Housing Home Loan?

A wide range of housing loan products for home purchase, construction, extension, improvement, and plot loans.

Pan India reach

Doorstep services for easy and quick loan approval & disbursal

Excellent post loan disbursement services

Top-up facility available on existing Home Loan

Integrity and transparency during entire loan process

Various loan repayment options available

FAQs

Which repayment options are available for PNB Housing Home Loan?

PNB Housing Home Loan can be repaid in EMIs via Electronic Clearance System, Standing Instructions to the bank, or Post Dated Cheques.

What is the maximum tenure for PNB Housing Home Loan?

The loan can be repaid within a maximum of 30 years tenure

What is the maximum Loan-to-Value offered under PNB Housing Home Purchase Loan?

For Home Purchase Loan, you can get a maximum Loan-to-Value (LTV) of 90% of property’s market value.

What is floating interest rate on Home Loan?

The floating interest rate is the rate of interest which fluctuates as per market conditions. It doesn’t remain fixed for the entire tenure like fixed interest rate.

Do I need to provide collateral for obtaining PNB Housing Home Loan?

No. You house itself acts as collateral for your housing loan. You don’t have to provide any additional collateral/security.

Feel Free to write us on info@estabizz.com or Call for more details on +91-98256- 22275