PNB Housing Finance - 8.99% for Loan Against Property - Loan Against Commercial Property

PNB Housing finance loan Against Property

PNB Housing finance is one of the largest HFC in the country that offers the lowest on loan against property.

Currently the bank offers the loans starting from 8.99%-13.00% p.a.* onwards with the quick approval and easy process.

The bank offers the special features and the attractive interest rate for different income and occupation groups.

Interest Rate	8.99%-13.00% p.a.*
Tenure	Up to 20 years
Processing Charges	2% of the loan applied for + GST

 

PNB Housing Finance Loan Against Property Interest Rates:

Credit score (any loan amount)	Loan Against Commercial Property	Loan Against Residential Property (LAP)	Loan against Plot/ Loan against Special Property* (Residential/Commercial)
>= 800	8.99% to 9.49%	8.99% to 9.49%	11.35%
>775 to 799	9.90% to 10.40%	9.90% to 10.40%	11.35%
>750 to <=775	10.50% to 11.00%	10.50% to 11.00%	11.35%
> 725 to <=750	10.90% to 11.40%	10.90% to 11.40%	11.35%
> 700 to <=725	11.35% to 11.85%	11.35% to 11.85%	11.35%
> 650 to <=700	12.35% to 12.85%	12.35% to 12.85%	11.35%
upto 650	12.40% to 12.90%	12.40% to 12.90%	11.35%
NTC** Cibil >170	12.50% to 13.00%	12.50% to 13.00%	11.35%
NTC** Cibil <=170	12.35% to 12.85%	12.35% to 12.85%	11.35%

 

Taking a loan from PNB has the following benefits:

1. Loan against all type of properties

2. Higher loan amount

3. Special interest rates

4. Wide range of products to fit requirement of every borrower

5. Extensive network of branches

6. Nil foreclosure charges on loans to individual borrowers

7. Loan amount up to 70 percent of the valuation of property

 

PNB Loan against Property:

Apply:

If you want to get a loan against property from PNB, 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, ICICI, etc.

Your loan application will be processed and PNB (Loan against Property) Loans representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com housing loan advisor to ensure that all the lending process is smooth, quick and you get the best loan against property from PNB.

You can also do a comparison of PNB Loan against property rates and other charges using the Apnarupee.com comparison tool.

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

 

Factors Affecting PNB Loan against Property Interest Rates:

Loan amount: 

Property loan rates in PNB depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

PNB offers differential rates for customer’s different profiles and also fixed and floating rate schemes.

Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession: 

PNB may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage

loan for his personal purposes.

 

PNB Loan Against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 3 years

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

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

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

business existence and business profile

 

For Salaried employee:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ 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’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

PNB  Loan against Property: Offers & Schemes:

1.PNB Housing Finance Lease Rental Discounting (LRD):

PNB HFC offers lease rental discounting(LRD) loans to salaried and self-employed borrowers with rental income from a reputed lessees or a lessees with healthy balance sheet.

Under LRD loans PNB HFC discounts a borrower’s future net rentals to offer a term loan.

The loan amount PNB HFC offers in LRD scheme can go up to eighty times of net monthly rentals, subject to the expiry clauses of lease agreement.

PNB HFC offers a lease discount loan against commercial and industrial type of properties leased for over 1 year with renewable clause in the rental agreement.

 

Benefits of PNB Housing Finance LRD Loan:

Eligible Borrowers: Salaried, self-employed individuals, firms and companies.

Type of property: Commercial shops and offices, warehouses, industrial units, showrooms etc.   

Tenure: up to 15 years, depending on lease term of the rented property.

 

2.PNB Housing Finance Commercial Property Purchase Loan

Commercial property buyers can take a commercial property purchase loan from PNB HFC with a competitive interest rate, below are the features of commercial property purchase loans:

 

Benefits of PNB Housing Finance Commercial Property Purchase Loan:

Eligible Borrowers: Salaried, self-employed and a businesses.

Type of Property: the bank offers a commercial property purchase loan only for properties where the stage of construction is more than 60 percent or for ready resale properties.

Tenure: up to 20 years

 

3.PNB Housing Finance Mortgage Loan Balance Transfer

PNB HFC offers mortgage loan balance transfer facility (LAP Transfer) to borrowers having a loan with other lenders with one of the lowest interest rate,

processing fees and higher tenure to the customers transferring their mortgage loan to PNB.

 

Benefits of PNB Housing Finance Mortgage Loan Balance Transfer:

Simplified and transparent process for balance transfer

Option to revise the tenure of loan

Higher loan amount against net monthly income

Faster process

Doorstep services   

 

Frequently Asked Questions:

 

Q. What is PNB Housing Finance Loan against property Interest Rate?

Ans. PNB Housing Finance is currently offering interest rate of 8.99%-13.00% p.a.* onwards

 

Q. Why Choose PNB Housing Finance Mortgage Loan?

 Ans. PNB HFC offers one of the lowest interest rate of interest for mortgage loans and provides one of the best pre and post sales services in the industry with the help of its bank branch network.

PNB Housing Finance also offers highest tenure for self-employed and salaried category of borrowers.

 

Q. What type of properties PNB Housing Finance can take as collateral security for a Loan Against Property or LAP loan?

Ans. PNB Housing Finance offers a LAP loan against a residential and commercial and industrial properties.

 

Q. What is the maximum loan tenure PNB offers for a Loan against property?

Ans. 15years..

 

Q. What are the documents required to apply for PNB Housing Finance Loan against property?

Ans. Three types of documents required to apply for an PNB Housing Finance mortgage loan- KYC documents, Financial documents and property documents

1. KYC Documents- photo identity proof, residence address proof, office address proof, to meet these requirements a borrower can provide Aadhaar Card, PAN Card, shop and establishment certificate etc.

2. Financial document for self-employed borrowers- Audited report, ITR, Balance sheet for latest 3 financial years, banks statements of all the accounts for last 1 year, business profile etc.

Financial document for salaried borrowers – latest 3 month’s salary slips, latest 2 years ITR, bank statement of salary account for 1 years and details of all the loans.

3. Copy of property documents

 

PNB Loan against Property News - March 2023:

 

2021-07-09: PNB asks PNB housing Finance to Restructure Fundraising Plan.

Government- owned Punjab National Bank has written to PNB Housing finance ltd, asking it to the consider the restructuring the Rs. 4,0000 crores Fundraising Plan which involves the home loan and the loan against property.

The Fundraising Plan announced on May 31, would have to PNB stake in the housing finance company to around the 20% from 32.6% currently and raised the shareholding of provide equity firm Carlyle to over 50%.  

 

2022-07-15: PNB Housing Finance – LAP interest rates revised.

PNB Housing Finance revised its interest rate on Loan Against Property with effect from July 01, 2021 The ROI is 9.50% - 10.65%.

while the processing fees is kept at 0.75% of the loan amount.