PNB Housing Finance - 8.25% for Home Loan - New Purchase Home Loan

PNB Housing Finance:

PNB Housing Finance is the large HFC with the lowest home loan percentage rate in India.

Currently, the bank offers home loans starting with quick approval and easy process.

Home Loan in PNB Housing Finance is quite popular with its special features and attractive rates under the various PNB Housing Finance home loan schemes for

different income and occupation groups.

Current PNB home interest rate starts from 8.25% – 14.50% p.a.* for a maximum tenure of 30 years.

Interest Rate	8.25% – 14.50% p.a.*
Loan Amount	Rs 8 lakh onwards
LTV Ratio	Up to 90% of property value loan
n Tenure	Up to 30 years
Processing Charges	Rs 10000 + GST

 

Key features of PNB Housing Finance:

1. Attractive Interest Rate

2. Loans for Everyone

3. Home Loan Up to 30-Year Tenure

4. Easy Finance

5. Low Processing fee

6. Customer-friendly Feature

7. Loan Enhancement

 

PNB Housing Finance loan interest depends upon:

1. Loan amount:

 The housing loan rate in PNB Housing Finance depends upon the loan amount you apply for. The higher the loan amount, the lesser will be the rate.

 

2. Your Salary:

Income helps you identify your rate of interest. The bank's rate varies with your monthly income. The higher the income, the lesser will be the rate.

 

3. Type of loan opted for:

PNB Housing Finance also offers differential rates for women borrowers and also under their fixed and floating rate schemes.

The rate of interest may be higher or lower under their special or popular loan product offers.

 

4. Existing bank customers:

PNB Housing Finance offers one of the lowest home loan rates to its existing bank account customers given their past relationship with the bank.

 

PNB Housing Finance Home Loan Processing Fee and Other Charges:

In addition to interest rates, home loans from PNB Bank also carry some other charges which include:

1. Processing Fee -

PNB Housing Finance applies processing charges to account for its expenses incurred for conducting a credit appraisal and completing the lending process.

 

2. Technical and Legal Charges -

PNB Housing Finance also charges technical and legal charges which are explained to the customer during the loan process.

Once you go through the loan application process, you will need to pay these charges based on PNB Housing Finance rules.

 

3. Prepayment Charges - 

If you decide to foreclose or transfer your housing loan to another bank, you need to apply for the same to PNB Housing Finance.

As per RBI rules, banks are not allowed to charge prepayment penalties on floating-rate home loans.

Hence, you can prepay your home loan with PNB Housing Finance at Nil charges.

 

PNB Housing Finance Housing Loan:

Apply

If you want to get a housing loan from PNB Housing Finance, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, etc.

Your loan application will be processed online and PNB Housing Finance representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by an Apnarupee.com housing loan advisor to ensure that the lending process is smooth and quick and you get the best house loan from PNB Housing Finance.

You can also do a comparison of PNB Housing Finance Home Loan Interest rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your home loan application in your customer account section of Apnarupee.com.

 

PNB Housing Finance Loan Documents:

For Salaried employees:

1. Fill up the loan application form.

2. Two 2 Passport Size Photo.

3. ITR of last 2 years.

4. Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN.

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

6. Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit.

7. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

For Self-Employed:

1. Fill up the loan application form.

2. Two passport-size photos.

3. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

4. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

5. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit, and loss account, balance sheets certified by CA,

copy of the partnership deed, and proof of business existence and business profile

6. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

 

Home Loan Schemes PNB Housing Finance:

PNB Housing Finance provides customized Home Loan solutions with the best in class service.

 

1. Housing Loan for Public:

Purpose:

1. For house/flat construction, for built house/flat purchase,

2. For additions/repair/renovation/alterations/furnishing costs to an existing home,

3. For purchase of houses/flats under construction from housing boards/co-operative societies/development authorities/projects/approved private builders,

4. For the purchase of a plot/land for the construction of the house,

5. For meeting cost escalation in under-construction flats to existing housing loan borrowers

Loan Amount:

1. For Plot/land purchase for house construction: Up to Rs 50 lakh

2. For repair/renovation/alteration: Up to Rs 25 lakh

3. For addition/construction/purchase of house or flat: Need-based loan depending upon the cost of the project and repaying capacity of the home loan borrower

4. Furnishing Cost: Included in the project cost with a maximum of up to 10% of housing loan with up to Rs 25 lakh

Tenure:

1. For repair/renovation/alteration of house/flat- Up to 15 years

2. For Others- Up to 30 years

Eligibility Criteria Punjab National Bank Home Loan:

For individuals or groups of individuals with regular income sources such as salaried employees, professionals, businessmen, farmers, self-employed persons

 

2. PNB Max Saver

Purpose: 

For all purposes as under the housing finance scheme except for the purchase of land/plot only with an overdraft facility

Loan Amount: 

Rs 10 lakh onwards

 

3. PNB Pride Housing Loan for Government Employees

Purpose: 

1. For permanent employees of State/Central GovernmentDefence Personnel/Paramilitary forces for:

2. house/flat construction, for built house/flat purchase,

3. purchase of house/flat under construction from housing boards/co-operative societies/development authorities/projects/approved private builders,

4. purchase of plot/land for construction of the house,

5. additions/repair/renovation/alterations/furnishing cost to an existing home,

6. meeting cost escalation in under-construction flats to existing housing loan borrowers

Loan Amount:

1. For Plot/land purchase for house construction: Up to Rs 50 lakh

2. For addition/construction/purchase of house or flat: Need-based loan depending upon the cost of the project and repaying capacity of the home loan borrower

3. For repair/renovation/alteration: Up to Rs 25 lakh

4. Furnishing Cost: Included in the project cost with a maximum of up to 10% of housing loan with up to Rs 25 lakh

Tenure:

1. For repair/renovation/alteration of house/flat- Up to 15 years

2. For Others- Up to 30 years

 

4. Pradhan Mantri Awas Yojna

Purpose: 

For construction/purchase/additions of rooms, kitchen, etc. to an existing home as incremental housing for house/flat construction with interest subsidy to Economically Weaker Sections with an annual income of up to Rs 3 lakh and Low-Income Groups with annual income between Rs 3 lakh-Rs 6 lakh

Loan Amount: 

1. Up to Rs 30 lakh

Interest Subsidy: 

5% for a loan amount of up to Rs 6 lakh 

Eligibility Criteria Punjab National Bank Home Loan:

Individuals from Economically Weaker Sections and Low-Income Groups (joint owners from the same family are also eligible)

 

5. PNB Gen-Next Housing Finance Scheme for Public

Purpose: 

For the construction of flats/houses, for the purchase of under-construction flats of approved private builders, for the purchase of ready-to-move-in flats/houses, etc.

to gen-next salaried class borrowers including employees of PSBs/PSUs/Government sectors and IT professionals aged up to 40 years.

Loan Amount: 

Rs 20 lakh onwards

Tenure:

 Up to 30 years

Eligibility Criteria Punjab National Bank Home Loan:

Age: Up to 40 years

Minimum Monthly Salary: Rs 35,000

All salaried employees with at least 3 years of experience

 

6. Home Purchase Loan:

To help our customers, PNB Housing offers loans for the acquisition, development, and expansion of residential properties.

As a leading home loan provider, we offer a wide range of customized solutions tailored to each client's specific needs PNB Housing succeeds at meeting

customer home loan demands with a full range of services Customers can create a long-term relationship and commitment and

trust because of the ease of applying for a loan the solid service delivery model and marked-to-market credit and financial regulations.

 

7. Home Construction Loan:

Home Construction Loans are available from PNB Housing for those who want to build a house on their land offering like this are only available

to customers who already own land and require money to build a house on it.

 

8. Home Extension Loan:

Additional rooms can be added to your current house with a home extension loan from PNB Housing. If your family expands,

you may require a guest room a reading room or an extra bedroom for your children we make it simple to expand your current home to meet your specific needs.

 

9. Home Improvement loan:

To keep your home looking and functioning at its best, PNB Housing offers a Home Improvement loan for you to spend as you see it

Coverage for Home Improvement Loan:

Renovation of an existing residential home to its full potential.

Upgradation

Repairs To your home/apartment/et

In –and outside-of-the-home touch-ups

Floor and wall tiling

Plumbing and electrical work

Woodwork and false ceiling

 

10. Residential Plot Loan:

PNB Housing provides a loan to purchase a residential plot of land in an urban area to construct a residential premise.

 

 Frequently Asked Questions:

Q. At what interest rate does a PNB employee get a home loan?

Ans. PNB offers Concessional home loan Rates of about 1% more than the current home loan rates to PNB employees.

 

Q. Is a PNB home loan a Floating rate loan or a fixed-rate loan?

Ans. PNB home loan rates are offered at both fixed and floating rates.

In the case of the fixed rate, the interest rate remains the same throughout the tenure.

On the other hand, the home loan interest rate varies as per the market fluctuations for floating home loan rates.