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TABLE OF CONTENT
Interest Rate | 7.90% p.a. onwards |
Loan Amount | Minimum: NA, Maximum: 90% of property cost |
Processing Fees | 1% of the loan applied for + Applicable Taxes (min 10000) |
Penal Interest Rate | 2% per month on dues |
Prepayment/Foreclosure Charges | NIL for floating-rate packages 2% to 3% for fixed-rate and non-individuals |
Max Tenure | 30 Years |
Rate Packages Available | Floating Rate |
If you plan to apply for a PNBHF loan to buy property/plot or construct your own house, then you need to know the other home loan-linked fees and charges. Make sure you’re aware of all your responsibilities before you take a loan.
PNB Housing Finance Loans | Interest Rate (p.a.) |
PNB Home Purchase Loan | 7.90% onwards |
PNB Home Improvement Loan | 8.60% to 9.75% |
PNB Plot Loan | 8.90% to 10.50% |
PNB Loan for NRIs | 9.25% to 11.50% |
PNB Unnati Home Loan | 10.75% p.a. onwards |
Compare:Lowest Home Loan Interest Rate
PNB Housing Finance is a branch Punjab National Bank. The bank has an enormous customer base and provides a widespread line of home loan products for the public, private builders, government employees, etc. PNB Housing Finance home loans can be availed by visiting one of their several branches spread across the nation.
The features and benefits of the loans are as follows:
Calculate your home loan EMI with a minute with the help of PNB HFL Home Loan EMI Calculator. Enter your loan details, including the loan amount, interest rate, processing fee, and tenure, and click on “Calculate”. You can also view a detailed break-up of your repayment schedule through an amortisation table.
PNB HFL Home Loan EMI CalculationAmount | 10 years | 20 years | 30 years |
---|---|---|---|
Rs.10 lakh | Rs.12,452 | Rs.8,742 | Rs.7,760 |
Rs.20 lakh | Rs.24,904 | Rs.17,483 | Rs.15,520 |
Rs.40 lakh | Rs.49,808 | Rs.34,967 | Rs.31,040 |
Rs.50 lakh | Rs.62,261 | Rs.43,708 | Rs.38,801 |
*Interest rate of 8.60% p.a. has been taken into consideration for this loan EMI illustration. Your final EMI amount can vary based on the rate offered to you by the bank.
This loan is for the purchase of a residential property in India.
This covers the renovation, upgradation, repair, flooring, water-proofing, false ceiling, woodwork, tiling, plumbing, or electrical work of an already purchased house.
This loan can be used to add an extra room or space to your home to meet the needs of a growing family.
This will provide the financial support to construct a residential house property on one’s own, especially for those who already own land and wish to construct a house on it.
This is for purchasing a residential plot to construct a house in an urban area.
The home loan products for NRIs and PIOs can be used to purchase a new house or construct one. It can also be used for the renovation and repair of the residential properties, but only for those in India.
These loans provide a simplified and streamlined loan disbursal process with a maximum loan amount of up to Rs.25 lakh (subject to 90% of the property’s market value). The interest rates start at 10.75%.
This is a Credit Linked Subsidy Scheme (CLSS) for the Lower Income Group (LIG), Middle Income Group (MIG), and Economically Weaker Section (EWS) of society.
The age of the borrower should not exceed 70 years at the time of the maturity of the loan.
The list of documents required for salaried individuals and self-employed individuals are given below. While there are some common documents, there are also some that are unique to each category.
All the documents given below have to be self-attested by the applicant.
Eligibility Proof | Documents Required |
Proof of residence | Telephone bill/election card/ration card/driving license/passport/any relevant certificate from a Statutory Authority |
Proof of age | Passport/PAN card/any relevant certificate from a Statutory Authority |
Proof of educational qualifications | Latest degree certificate |
Proof of income |
|
All the documents given below have to be self-attested by the applicant.
Eligibility Proof | Documents Required |
Proof of residence | Telephone bill/election card/ration card/driving license/passport/any relevant certificate from a Statutory Authority |
Proof of age | Passport/PAN card/any relevant certificate from a Statutory Authority |
Proof of educational qualifications | Latest degree certificate (for professionals) |
Proof of income |
|
A home loan from PNB Housing Finance can be applied in the three methods listed below:
Through BankBazaar: You can visit the BankBazaar website and navigate to the home loan section. There, you will be able to see a list of loan providers. You can click on the ‘Apply Now’ button against PNB Housing Finance Home Loan and follow the instructions to set the application process rolling.
Through the official website of PNB Housing Finance: Another way to apply for a home loan from PNB Housing Finance is to visit the official website and click on ‘Instant loan in 3 minutes – Apply Now’ under Home Purchase Loan. On doing that, you will be redirected to a new page where you need to follow the instructions to apply for the home loan. You can also track the status of your application through the bank’s official website.
Offline application: You can apply for the home loan using the offline mode. All you need to do is visit the nearest branch along with the necessary documents. In case, you need any assistance you can contact PNBHFL customer care on the toll-free numbers.
PNB Housing Finance Headquarters:
9th Floor, Antriksh Bhavan,Contact Number: 1800 120 8800
Applying for a home loan on BankBazaar offers the following unbeatable advantages:
Yes, PNB Housing Finance has a wide network all over India.
The loan is disbursed either in installments or as a lump sum depending on the requirements. For flats or houses under construction, it is disbursed in regular stages depending on how the construction is progressing. For purchasing a flat or house on resale, the loan is paid in a lump sum.
Yes, the applicant has to make a contribution that is 10% of the total cost of the property (for purchase of property, this includes registration charges and stamp duty).
The security required is a first charge which is in the form of an equitable mortgage of the property that is to be financed and/or any other securities that can be taken as collateral.
PN Housing Finance has recently disclosed its plans about launching an ACE platform in its FY 21 quarterly results. The platform will suit up to cater to the requirement of contactless loan taking offering.
The main aim of the company is to offer contactless and convenient loan-availing experience. The secondary objective of the new platform is to avoid time lag and human errors in the system. The pilot has run across 3 processing hubs which covers around 15 branches. The Ace platform is an innovative and new digital customer onboarding platform which allows customers to apply for a loan without any physical intereference.
15 September 2020
The board of Punjab National Bank has given an in-principle sanction to PNB Housing Finance of Rs.600 crore. However, this is pending approval by the Reserve Bank of India and the Government of India. PNB Housing Finance also plans to approach the board for an equity raise plan and hopes to receive the funds within the next 14 weeks. The company also created a digital platform for submitting home loan applications, uploading the KYC documents, and signing the form digitally. This is being tested right now in a closed user group and will be launched shortly if successful. This will benefit users in the coronavirus pandemic times as it helps to maintain social distancing norms.
07 August 2020
Punjab National Bank (PNB) has recently announced that it will infuse Rs.600 crore in its housing finance subsidiary – PNB Housing Finance Ltd.. The PNB Housing Finance is directly run by the state-run bank.
The bank recently announced in an official statement that it has raised Rs.994 crore through the issuance of Basel III compliant bonds on private placement basis. An associate of the bank had recently announced to the exchange that the bank has decided to infuse the capital amount of Rs.600 crore in PNB Housing Finance Ltd. or PNBHFL.
05 August 2020
The Managing Director S S Mallikarjuna Rao of Punjab National Bank had said on that he has hope that the Reserve Bank would soon unveil the loan restructuring mechanism by October for a few sectors which have been hit by the Coronavirus.
He had also added aid that the normalcy is now far away and this is now making it very tough to assess the situation of the cash-flows of the companies.
He said that they had requested the RBI to allow restructuring. Bankers have come together and have also requested, through Indian Banks’ Association (IBA), that the RBI would have to look at a restructuring in the accounts so that the bankers would undertake the restructuring by analysing their cash flow.
07 July 2020
A wholly-owned subsidiary has been incorporated by PNB Housing Finance for the implementation of various CSR programs of the housing finance firm. The subsidiary, known as Pehel Foundation, will be responsible for the implementation of various CSR programs of PNB Housing Finance and PHFL Home Loans & Services. PNB Housing Finance is headquartered in New Delhi and is promoted by Punjab National Bank and National Housing Bank. The housing finance firm has its presence in over 60 locations through its network of 84 branches located at Bengaluru, Noida, Chennai, New Delhi, Dehradun, Kolkata, Jaipur, Cochin, Mumbai, Ahmedabad, Thane, Hyderabad, Indore, etc. The products offered by PNB Housing Finance includes home loan, non-home loan, and deposits of different tenors.
15 January 2020
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