PNB Housing Finance
Humankind pays rich respects to the concept of choice. Unlike the finality of a single solution, choices offer variety and a more refined, personalised solution. In this vein, the various home loans offered by PNB Housing Finance Limited allow a prospective borrower to choose a solution that works best for him/her. From home loans dedicated to the purchase of property, construction, extension of the house, to loans that help in the functional improvement of a home, the options are many. The choice, is yours.
The PNB Housing Finance Home Loan comes in the formats listed herein. Expounding, each offers a specialised home loan solution the fits snugly with your specific requirements.
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Home Purchase Loan- For the construction, purchase or extension of your living space.
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Home Construction Loan- For the self-construction of a residential home.
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Home Extension Loan- To help you add more space to your existing home.
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Home Improvement Loan- For the aesthetic and/or functional improvement of your home. This can include internal/external repairs, roofing, painting, waterproofing, plumbing, electrical works, etc.
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Residential Plot Loan- For the purchase of a residential plot of land in an urban area, where subsequently, your house will be built.
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Loan for NRIs- To help NRIs construct, purchase, repair or renovate residential properties in India.
All of these home loan products are backed by a solid customer support initiative and the company’s hard earned on-field experience. No wonder PNB Housing Finance is this popular- the company has taken the time to understand its target audiences’ base requirements and fashioned home loan products in line with said requirements.
PNB HOUSING Home Loan Eligibility and Documentation:
The eligibility criteria set for the acquisition of a home loan from PNB HOUSING are as follows,
- The applicant must be an Indian citizen or a fully documented NRI. Essentially, a Person of Indian Origin (PIO).
- The applicant’s age must not exceed 70 years at the time of loan maturity.
- If the applicant is looking for the NRI Loan, he/she must have worked for at least one year in a foreign country. Employed people who go abroad on deputation aren’t eligible for this loan.
Next, the following documents must be submitted at the initiation of the loan acquisition process:
- Completed application form with photographs.
- Proof of Age- Passport, PAN Card, Driving License, etc.
- Proof of Residence- Passport, Driving License, Telephone Bill, Ration Card, Voter’s ID, etc.
- Educational Qualifications- Documents in this regard, latest degree.
- Copy of Passport/ PIO card and work permit (case based requirement).
- Salary slips from the last 3 months.
- Employment Proof- Appointment letter from current job, income statements for 2 years.
- Form 16 for the last 2 years.
- Last 6 months bank statement detailing the salary account.
- Processing Fee- Cheque drawn in favor of 'PNB Housing Finance Ltd'.
- Copies of title documents of the property and the approved plan.
- In case of Construction/ Renovation- Cost estimate from the Architect.
Kindly note that, all of these documents must be self-attested by the applicant.
PNB HOUSING Home Loan Interest Rate:
PNB Housing Finance Interest rates are based on the benchmark PNBHFR of 14.35% per annum.
FLOATING RATE
| Salaried |
Self Employed Professionals |
Self Employed Non Professionals |
| 9.30% |
9.30% – 10.30% |
9.50% – 11.00% |
*Rates of interest are subject to change at the sole discretion of PNB Housing.
FIXED RATE:
PNB Housing offers 3 year, 5 year & 10 year Fixed Rate Scheme. The interest rates offered with these schemes are given below.
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Salaried and Self Employed Professionals
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| Fixed for 3 years |
9.25% – 10.25% |
| Fixed for 5 years |
9.25% – 10.25% |
| Fixed for 10 years |
9.50% – 10.50% |
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Self Employed Non-professionals
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| Fixed for 3 years |
9.45% – 10.95% |
| Fixed for 5 years |
9.45% – 10.95% |
| Fixed for 10 years |
9.75% – 11.25%
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The interest rate will automatically get converted into the prevailing floating rate at the time post the fixed-rate period for the remaining loan amount.
*Rates of interest are subject to change at the sole discretion of PNB Housing.
Features of PNB Housing Finance Home Loan:
The salient features of a PNB HOUSING Home Loan are listed herein,
- Expansive network of operational branches spread across India.
- Loans for all requirements- Purchase, Construction, Extension, Improvement and Plot loans.
- Hassle free application processing, transparent procedures and zero red-tape.
- Quick and easy approval and disbursal of loans, thanks to an efficient service delivery model.
- Robust customer support handled by highly qualified professionals.
- Ethics, Integrity and Openness are central pillars at PNB HOUSING.
- 7. Easy repayment options.
Why Apply for a PNB Housing Finance Home Loan on BankBazaar?
Applying for a home loan on BankBazaar offers the following unbeatable advantages:
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Save time: Avoid running around for your PNB HOUSING home loan. From checking out all the features, to applying and running down the list of required documents, to finally receiving confirmation from PNB HOUSING, everything happens quickly and smoothly- thanks to BankBazaar’s interactive and informative approach.
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All the Information you Need: Everything important, from the basic terms and conditions to the eligibility factors, from PNB housing finance interest rate to documentation required, find everything you need, here!
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Compare and Review: Compare the PNB HOUSING home loan against other loan options available in the Indian market. Read reviews from your peers about their own borrowing experience, clear nagging queries by contacting BankBazaar’s expert customer support team.
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Simple and Transparent Application Process: No hidden charges, no red-tape, not too technical that only a rocket scientist can understand, and immensely respectful of your requirements and limitations.
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100% Safe: Your personal information is treated with the maximum care, never shared with anyone other than PNB HOUSING and passed through robust, encrypted systems that have 0% tolerance towards malicious intent.
PNB HOUSING Home Loan EMI Calculator:
A Home Loan Calculator, or Home Loan EMI Calculator, is helpful with the electronic computation of the Equated Monthly Installments (EMI) that applies to your loan. When speaking of home loans from PNB HOUSING, the EMIs can be calculated by using the immensely helpful, time saving and highly interactive Home Loan EMI Calculator on BankBazaar website.
This calculator offers the following advantages:
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Super Fast: EMI calculation for your home loan can be accomplished in minutes.
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Lots of Information: Gather a lot of information associated with your home loan- applicable EMI amount, amortization details etc.
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100% Free: Using this handy tool is completely free of cost.
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Try Different Combinations: Enter different PNB HOUSING home loan interest rates or tenures and analyse the resultant EMI. Find the combination that works best for you.
The home loan offering from PNB HOUSING is robust, highly customer centric and comprehensive. Offering attractive interest rates and a solution for every home loan requirement, the PNB Housing Finance Home Loan is a definite favourite to deserve your time and attention.
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