A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • PNB Housing Finance NRI Home Loan

    PNB Housing offers prospective Non-Resident Indian (NRI) and Persons of Indian Origin (PIO) borrowers a wide array of home loan options with the rate of interest starting at 9.05% p.a. over a maximum loan repayment period of 15 years. The housing loans offer flexible repayment schemes with EMI per lakh as low as Rs.1,017. 

    Interest Rates for PNB HFL NRI Home Loan 

    Loan Slab  Salaried   Self-Employed Professional  Self-Employed Non-Professional/Businessman 
    Up to Rs.35 lakh  9.05% p.a. - 11.25% p.a.  9.05% p.a. - 11.25% p.a.  9.15% p.a. - 12.50% p.a. 
    Above Rs.35 lakh and up to Rs.75 lakh  9.10% p.a. - 11.25% p.a.  9.10% p.a. - 11.25% p.a.  9.20% p.a. - 12.50% p.a. 
    Above Rs.75 lakh  9.20% p.a. - 11.25% p.a.  9.20% p.a. - 11.25% p.a.  9.30% p.a. - 12.50% p.a. 

    Loan Amount 

    Loan Slab  Maximum Funding* 
    Up to Rs.75 lakh  80% of the market value of the property 
    Above Rs.75 lakh  75% of the market value of the property 

    *The maximum funding offered by PNB Housing is dependent on the applicant’s repayment capacity as determined by the bank. 

    Eligibility Criteria 

    Age
    • You should not be more than 70 years of age at the time of completion of the loan tenure. 
    Resident Status
    • Non-Resident Indian - deputation/assignment/employment. 
    • Person of Indian Origin.
    Employment Status
    • You should have an employment period of at least one year abroad prior to applying for a home loan (not applicable in case of deputation). 

    Documents Required 

    Age Proof (any one)
    • PAN card. 
    • Valid passport. 
    • Birth certificate. 
    • Aadhar card. 
    • Voter ID card. 
    Address Proof (any one)
    • Valid passport. 
    • Driving license. 
    • Telephone bill. 
    • Ration card. 
    • Election ID card. 
    • Any statutory authority issued certificate indicating your address. 
    Income Proof
    • Salary slips for the last 3 months. 
    • Income statement issued by the employer for the last 2 years. 
    • Bank statements showing salary credit for the last 6 months. 
    • Appointment letter from employer. 
    Property Documents
    • Title deeds of the property. 
    • Approved plan. 
    • Estimated cost of construction by a Civil Engineer/Architect. 
    Other Documents
    • Photocopy of passport/PIO card. 
    • Photocopy of Work Permit. 
    • Educational qualification degree. 
    • Cheque for processing fee in favour of ‘PNB Housing Finance Ltd.’ 

    *Note: All documents mentioned above are required to be self-attested by the applicant. 

    Features of PNB Housing NRI Home Loans 

    • The minimum down payment on the loan is 20% of the property cost. 
    • PNB Housing offers the facility of enhancing the loan amount if the costs involved are escalated. 
    • PNB HFL has tied up with prominent insurance provider ICICI Lombard and Bharti AXA to insure your home. 
    • The floating rates of interest on the housing loans are linked to PNB Housing’s internal benchmark rate i.e. PNBHFR. 
    • You can make repayments either through the Electronic Clearance System or Post-Dated Cheques. 

    FAQ’s

    1. How can I improve the maximum loan amount I am eligible for?

      You can consider adding a co-applicant while applying for the home loan. A co-applicant can be your immediate family member such as your spouse, parents, or children. Adding a co-applicant can increase the loan amount you are eligible for as the co-applicant's income will also be considered while determining your home loan eligibility. All co-owners of the property are required to be co-applicants while applying for a loan. However, all co-applicants need not be the co-owners of the property. 

    2. Will the stamp duty and registration charge be included in my down payment cost?

      Yes. Your down payment will be inclusive of other charges such as registration charges and stamp duty. 

    3. When does the loan disbursal process begin?

      The lender shall disburse the loan only after the property has completed the legal documentation process and has been technically appraised. 

      In the case of purchase of a residential unit being resold, the loan will be disbursed as a lumpsum to the seller directly after you have made your own contribution. 

      In case of an under-construction property, the loan amount shall be disbursed in regular periods based on the progress of completion of the property. 

    4. What is the loan repayment period?

      In case of purchase or construction of a residential unit, you can avail a loas with a repayment period up to 15 years. However, in the case of home improvement loans, the maximum loan repayment period is 10 years. 

    5. Do I have to provide security/collateral for the loan?

      Yes, you will be required to provide an equitable mortage of the property you are availing the loan for. You can also consider providing other collateral securities acceptable to PNB Housing. In some cases, you might also be required to submit additional security if asked for by the lending institution. 

      

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