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  • PNB- Gen Next Housing Finance Scheme

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    PNB-Gen Next Housing Finance Scheme for Public is a housing loan scheme provided by Punjab National Bank for Gen-Next salaried class borrowers such as IT professionals, government employees etc. If you meet the eligibility criteria, you can avail this home loan scheme to purchase a ready to move- house/flat, or for the purchasing of an under-construction house, or for the construction of a house or a flat. You can avail this housing loan scheme at attractive rates of interest.

    PNB- Gen Next Housing Finance Scheme Eligibility criteria

    Given below are the eligibility criteria you will have to fulfil in order to avail PNB: Gen Next Housing Finance Scheme for Public:

    • The maximum age of eligibility for the applicant is 40 years.
    • If the applicant is looking to avail a loan along with a co-applicant, then while the maximum age of one of the borrowers should be 40 years, the maximum age of other borrower can be up to 45 years.
    • Minimum monthly salary of Rs.35,000 in order to be eligible for this housing loan scheme.
    • Coverage provided under the PNB- Gen Next Housing Finance Scheme for Public
    • All salaried employees with a minimum work experience of 3 years.
    • Co-borrowers should also belong to salaried class.

    How to apply for PNB- Gen Next Housing Finance Scheme for Public

    Given below are the steps you will have to follow if you wish to apply for PNB- Gen Next Housing Finance Scheme for Public:

    1. Visit the official website of Punjab National Bank
    2. Under ‘Online Application’ menu click on ‘Home Loan’.
    3. You will be directed to a new page. If you are a new user, then you will have to click on ‘Housing Loan New Application’.
    4. Enter your name and mobile number and click on ‘Generate OTP’.
    5. You will receive a One-Time Password (OTP) on your mobile phone. Enter the OTP.
    6. The next step will be to create a profile. Once you have done that, you will have to choose the scheme you want to avail, in this case, the scheme you will choose being PNB- Gen Next Housing Finance Scheme for Public.

    Follow the instructions given and upload the necessary documents. The bank will verify the documents and if they are satisfied that the documents submitted by you are right, then they will disburse the loan amount to your bank account.

    You can also apply for the PNB- Gen Next Housing Finance Scheme for Public offline as well. You will have to visit the nearest branch of PNB along with the necessary documents. A representative of PNB will assist you with the process of applying for the PNB- Gen Next Housing Finance Scheme for Public.

    How to check the status of your application?

    Given below are the steps you will have to follow if you wish to check the status of your application:

    • Visit the official website of Punjab National Bank
    • Click on ‘Home Loan’ under ‘Online Application’ menu.
    • You will be directed to a new page. If you are a new user, then you will have to click on ‘Housing Loan New Application’.
    • Click on ‘Click here to check your applications status’. You will be directed to a new page.

    Select ‘housing loan’ under the ‘select loan type’ box and enter the serial number which you would have received after submitting the application form. Enter your date of birth. Enter the captcha for security purposes and click on ‘Submit’. You will then be able to check the status of your application.

    FAQs

    • What is the repayment tenure for this scheme?

      The maximum repayment tenure for this scheme is 30 years.

    • What is the quantum of finance under this housing loan scheme?

      The quantum of finance under this housing loan scheme can be 1.25 times the loan amount calculated depending on the LTV ratio. However, the minimum and maximum quantum of finance can be:

      • Minimum amount: Rs.20 lakh
      • Maximum amount: Depending on the need of the applicant
    • What can be the security or collateral I will have to provide in order to avail this housing loan scheme?

      The collateral or security you will have to provide in order to avail this housing loan scheme will be the equitable or the registered mortgage of the property for which you wish to avail a loan from PNB.

    • What is the margin under which you can avail this housing loan scheme from PNB?

      The margin under which you can avail this housing loan scheme from PNB is given below:

      • Housing loan of up to Rs.75 lakh: 20%
      • Housing loan above Rs.75 lakh: 25%
    • I have queries related to my home loan. How can I get in touch with a PNB representative?

      In case of any queries related to your home loan you can call the toll-free number 1800-180-2222 or 180-103-2222. If you stay abroad, then you can call the number +91-120-2490000. A PNB customer care executive will get in touch with you and will help in clearing your query related to housing loans.

      

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