In every life, dreams and aspirations are the fuel that power innovation and progress. When it comes to life goals, and irrespective of where you are from, owning a house is definitely at the top of the list. In India, the Punjab National Bank (PNB) home loan has helped thousands of people crunch this crucial goal. And, with the ease and features afforded by the PNB home loan, its popularity and impact has multiplied over the years. A nationalized bank with a popular and customer friendly home loan product, what’s not to like?
At least 18 years old
Less than 70 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Earn more than the minimum
Loan capped @ 90% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years or 70 years of age whichever is earlier
Alternatively add your parents
|Processing Fees||Waived upto 31.03.2016|
|Loan Tenure||30 years or 70 years of age whichever is earlier|
|Pre Closure Charges||Nil|
A Home loan, as the name suggests, is funds offered by a bank to help an individual purchase a new house/flat/apartment, an old property, land for the construction of the house or renovation of the existing house/property. With PNB home loan, acquire a resource that is immensely customer centric, involving a transparent and quick processing cycle, the goodwill that is associated with a renowned banking organization and importantly, the PNB home loan interest rate that is one of the most attractive in its class.
Punjab National Bank, or PNB as it is popularly known, boasts of 120 years of fruitful experience and an enviable 6081 branches across the country, including 5 overseas branches. The bank counts ‘PNB Flexible Housing Loan’ as an important product in its arsenal. The bank ‘banks’ on its traditional image, strong banking fundamentals, nationwide presence and immaculate brand image to woo its target customers. And, considering the impressive returns that the bank is registering year-on-year, the plan is working!
The following features are the highlights of the PNB Home Loan:
The eligibility criteria set for the acquisition of a home loan from PNB are as simple and customer centric as possible, amounting to the following-
Next, when applying for the home loan, the following documents must be kept ready for verification-
Currently, PNB Home Loan is one of the popular home loan products available in the Indian market. One of the fundamental reasons for its enduring popularity is the PNB home loan interest rate that is comparable to some of the most competitive available options. You can avail this loan at the interest rate of 9.60% (floating) and 10.10% (fixed) over a maximum repayment tenure of 30 years.
India’s third largest bank in terms of assets, Punjab National Bank (PNB), is organizing a ‘Monsoon Bonanza’ scheme wherein all home loans disbursed till December will be free of any processing charges. This attractive offer is set to run from June 1, 2015 till December 31, 2015 and includes complete nullification of processing fees and other documentation charges. Remember that PNB has recently reduced its base rate (post the repo rate cuts by RBI) from 10.25% to 10%, and all home loans (irrespective of the amount) will be offered at base rate. Definitely, this move from PNB will be a shot in the arm for its home loans portfolio, and will further consolidate its position as one of the more popular banks in India.
03rd July 2015
Punjab National Bank, one of the Big Four banks of India, is offering a full processing fee and documentation charges waiver for home and car loans. For loans to be sanctioned between June 1 and December 31, customers will be offered a full waiver of up-front, processing and documentation fee. PNB Home Loans are very popular amongst people because of the low interest rates and minimal documentation requirements. PNB has reduced its base rate to 10% from 10.25% and is providing home loans at the base rate irrespective of the loan amount.
8th June 2015