SME Loans By PNB Housing Finance

Overview :

 

We always strive for innovation to benefit our customers in as many ways possible. That's why we offer a rent securitization scheme wherein we provide loan against assured rental receivable from a property owned by you, which has been let out to a Bank, Multinational Company, AA* or AAA* Rated Corporate and Government/ Semi Government Undertakings.

Advantages of taking Non Home Loan from PNBHFL

  • Provides an extensive range of non-home loan products like Loan for Purchase & Construction of Commercial Property, Loan Against Residential & Commercial Property and Lease Rental Discounting
  • 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 :

Customers who own properties in metro/ urban/ semi-urban areas, who have rented out their properties to Public Sector Undertakings/ Government/ Semi-government / Reputed Corporates, Banks, Financial Institutions and Multi-national Companies can avail loan against future rent receivable.

 

 

Loan Amount :

  • Maximum loan amount would be 80% of the total future rent receivable within the un-expired period of lease deed subject to a maximum period of 10 years.
  • Loan eligibility shall be determined by PNBHFL taking into account income, age, qualification and occupation etc.
  • Income of borrower(s)/ co-borrower(s) may be clubbed together for calculation of loan eligibility.

 

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

Non Home Loan Product
Floating Rate of Interest

Lease Rental Discounting
12.25%

* The above 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 w.e.f. April 27th 2015

Non Home Loan Product
Fixed for 3 years
Fixed for 5 years
Fixed for 10 years

Lease Rental Discounting
12.00%
12.00%
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.

 

 

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.
  • For houses/ flats under construction, the loan amount will be disbursed in stages based on the progress of construction.
  • A customer has to invest his proportionate share of the cost, prior to disbursement. The loan can be disbursed either in lump sum or installments according to the requirement of the development authority/ society/ private builder.

Loan Repayment :

Loan repayment is through an escrow account with maximum 120 monthly installments or remaining lease period.
Letter from lessee for direct remittance of lease rental in PNBHFL designated account.

 

Guarantors :

In case of loan to Corporate, the account has to be guaranteed by personal guarantee of the Promoter/ Director in individual capacity.

 

Documents Required For Home Loan By PNB Housing Finance :

 

Duly filled Application Form with Photograph

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)

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

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

Photocopy of Title Documents of the Property, Approved Plan

Copy of Registered Lease Deed

Last 6-12 months Bank Statements which reflect the Rental Credits in the Account

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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