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PNB Housing Finance Limited offers a variety of loans, among which there is an option of taking a loan for the construction or purchase of commercial property. PNB Housing grants loans for purchase of office space and shops in approved areas. PNB Housing offers a plethora of non-home products, out of which commercial property loan is a popular one. Spread all across India through its branches, its powerful service delivery model ensures easy and fast loan disbursal through their doorstep services.
The following eligibility criteria must be fulfilled in order to be eligible for a commercial property loan from PNB Housing:
The following are the main features of the commercial property loan:
The maximum loan amount that can be availed by an eligible applicant is 70% of the property’s purchase price or loan eligibility, whichever is lower.
The floating and fixed interest rate charged for PNB Housing’s commercial property loan are:
Floating Interest Rate:
PNB’s floating interest rate is linked to its benchmark rate, which is PNBHFR: 14.35% p.a.
The floating rate of interest charged on a commercial property loan from PNB Housing is in the range of 11.25% to 11.75% p.a.
Fixed Interest Rate:
PNB Commercial Property Loan can be applied for a tenure of three, five and ten years at a fixed interest rate.
|Non-Home Loan Product||3 Years (Fixed) p.a.||5 Years (Fixed) p.a.||10 Years (Fixed) p.a.|
|Commercial Property Loan||11.15% to 11.65%||11.15% to 11.65%||11.50% to 12%|
Once the period of fixed interest rate is complete, the rates automatically convert into prevailing floating interest rates for the remaining loan amount at PNB Housing.
PNB Housing has a tie-up with ICICI Lombard and Bharti AXA, offering the best insurance products and services at the doorstep of its customers.
The following documents are required when applying for PNB’s Commercial Property Loan:
Self-employed/Professionals as Applicants:
PNB Housing is India’s fifth largest housing finance company and has a wide network across the country. The PNB Commercial Property Loan has been customised to suit the needs of potential customers who are planning to buy a commercial property.
You are required to pay a minimum of 30% of the commercial property’s cost inclusive of fees and charges.
Yes, PNB Housing has tie-ups with ICICI Lombard and Bharti AXA that can help you in availing the best insurance product at your doorstep.
A maximum of 70% of the property’s value can be obtained from PNB Housing for the purchase of a commercial property.
No, as you are above 50 years, you are ineligible for the PNB Commercial Property Loan.
The minimum fixed interest rate for a PNB Commercial Property Loan for a 10 year loan tenure is 11.5%.