Home Loan By PNB Housing Finance

Overview :

For the construction of residential premise, PNBHFL provides loan for purchase of residential plot in an urban area.

Advantages of taking Home Loan from PNBHFL

  • Provides an extensive range of home loan products like Home Purchase Loans, Home Construction Loans, Home Extension Loans, Home Improvement Loans and Plot Loans.
  • Pan India branch network
  • Robust service delivery model - door step services ensuring easy and fast approval & disbursal of loans
  • Excellent post disbursement services
  • Facility of enhancement in loan amount in the event of escalations in cost
  • Dedicated team of well-experienced employees who work on best-in-class information systems & network to deliver and provide customer satisfaction
  • High standards of ethics, integrity and transparency
  • Various repayment options

 

Eligibility Criteria For Home Loan By PNB Housing Finance :

Your age should not be more than 70 years if you are a salaried employee and not more than 65 years if you are a self-employed professional/ non-professional, at the time of loan maturity

 

Own Contribution :

 

Minimum contribution required from a customer will be 10%* of the total cost of the property (inclusive of stamp duty and registration charges in case of purchase of property).

*terms and conditions apply

 

Loan Amount :

 

Loan Amount
Maximum Funding*

Upto Rs 20 lacs
90% of market value

20 lacs and above, upto 75 lacs
80% of market value

Above 75 lacs

75% of market value

 

 

 

 

Rate Of Interest:

 

FLOATING RATE

PNBHFL offers floating rate of interest, linked to its benchmark rate PNBHFR: 14.35% p.a. 
Rates are applicable w.e.f. April 27th  , 2015

Salaried
Self Employed Professionals
Self Employed Non Professionals

9.95% -10.95%
9.95% -10.95%
10.50% - 12.00%

*Rates of interest are subject to change at the sole discretion of PNBHFL.

FIXED RATE

PNBHFL offers 3 year, 5 year & 10 year Fixed Rate Scheme. Rates are applicable w.e.f April 27th, 2015

Salaried & Self Employed Professionals

Fixed for 3 years
Fixed for 5 years
Fixed for 10 years

9.95% -10.95%
9.95% -10.95%
10.15% - 11.15%

Self Employed Non-professionals

Fixed for 3 years
Fixed for 5 years
Fixed for 10 years

10.50% - 12.00%
10.50% - 12.00%
10.50% - 12.00%

Post the fixed rate period, interest rate would automatically get converted into floating rate prevailing at that time for the residual loan amount

*Rates of interest are subject to change at the sole discretion of PNBHFL.

 

Customer Safty :

 

PNBHFL, for the safety and extended comfort of its customers, suggests that they should get their property and loan repayments insured to overcome an unfortunate event during the re-payment term of the loan.

For the convenience of customers, PNBHFL has tied up with Bharti AXA and ICICI Lombard – to offer best-in-class products and services at their doorstep.

Property financed is to be insured as per the terms and conditions of PNBHFL.

 

Secutiry :

 

Security for the loan is a first charge by way of an equitable mortgage of the property to be financed and/or such other collateral securities as may be deemed fit by PNBHFL.

Additional/ interim security may be required as acceptable to PNBHFL.

 

 

Loan Disbursement :

 

  • Disbursement will be made after the property has been technically appraised and all legal documentation has been completed.
  • For purchase of house/ flat from an individual on resale, the loan amount will be paid in lump-sum to the seller at the time of transfer after confirming that the customer has paid his own contribution.
  • Loan will be disbursed only after the customer has paid his own contribution in lump sum or as per the demand.

 

Loan Repayment :

Loan repayment is in Equated Monthly Installments (EMI) comprising of principal and interest through Post Dated Cheques/ Electronic Clearance System over a maximum period of 30 years

 

Documents Required For Home Loan By PNB Housing Finance :

 

Salaried Employees
Self Employed/Professionals

Duly filled Application Form with Photograph
Duly filled Application Form with Photograph

Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)

Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)

Education Qualifications – Latest Degree
Education Qualifications – Latest Degree (for professionals)

Latest Salary-slips for 3 months
Certificate & Proof of business existence along with Business Profile

Form 16 for last 2 years
Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant

Last 6 months Bank Statements(salary account)
Last 12 months Bank Account Statements (self & business)

Processing Fee Cheque in favour of 'PNB Housing Finance Ltd.'
Processing Fee Cheque in favour of 'PNB Housing Finance Ltd.'

Photocopy of Title Documents of the Property, Approved Plan
Photocopy of Title Documents of the Property, Approved Plan etc.

All documents need self-attestation.

PNB Housing Finance Limited (PNBHFL) is a registered housing finance company with National Housing Bank (NHB). It was incorporated under the Companies Act, 1956 and commenced its operations on November 11, 1988. PNBHFL is a subsidiary of Punjab National Bank (PNB), which holds 51% of share capital in the Company.

In December, 2009, it entered into a strategic financial partnership with Destimoney Enterprises Private Limited (DEPL). In February 2015, DEPL’s majority shareholder Destimoney Enterprises Limited has sold its entire shareholding to Quality Investments Holdings, which is owned by Carlyle Group, a global investment firm.

With over two decades of specialised experience in housing finance, PNBHFL has a robust network of branches spread across the country which help its customers avail financial services (loans and deposits) seamlessly.

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