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For all types of home loans that you might need, there is PNB Housing Finance Home Loan. The loan is structured to adapt according to everyone’s personal requirements. PNB is a nationalized bank with services at par with international financing companies. Swift approvals and easy availability of loan makes the Punjab National Bank (PNB) home loan one of the best loan products.
Punjab National Bank has made it a lot easier for you to avail a loan and get it processed within few hours or days by categorizing the home loans. Below mentioned are the types of home loans financed by the Punjab National Bank.
There are various defining features for each of these loans, as mentioned below.
The home purchase loan is for the individuals who want to buy their own houses. In the wake of high property prices and growing inflation, PNB Home Loan tries to fulfill a common man’s dream of living in his house. So, go for the PB home purchase loan and leave your rented house.
The security will comprise of the house against which loan is to be availed and it can also comprise any collateral provided by the customer. This lies to banks jurisdiction if they want to accept any other security.
Please note down the following processes as per which your loan will be sanctioned:
One needs to clear the dues every month by Equated Monthly Installments (EMI).
The loan can be paid through:
i) Post Dated Cheques
ii) Electronic Clearance System
The period of loan repayment is between three years to thirty years.
In case an unfortunate calamity or accident hits a person; it would be burdening for him to repay the loan. For this, PNB Housing suggests all its valuable customers to insure their housing projects. To make the process easy to tackle, PNB housing has partnered with Bharti AXA and ICICI Lombard.
The PNB Home Construction Loan is suitable for you in case you already own a property and you need funds to construct a house on the land. These types of loans are availed by home buyers and builders both. The loan is disbursed by the bank in parts as the construction progresses. The loan will be released in parts as per the advancement in the building process. Choose PNB Home Construction Loan for easy repayment options and quick loan processing.
The growing demands in the world today call for bigger and spacious houses. Gone are the days when family members could sleep in one room and enjoy the time together. WIth advancing world, every family member now needs his or her personal space and so, a personal room. You might want to build a guest room or a study room for the children or you might need to keep a maid and offer her a servant room. Thus, you will need to extend your house. PNB Home Extension Loan helps you to get a quick solution to all your queries for extending your home. Add a room or space to your prevailing property with affordable costs and terms with PNB Housing.
You might have constructed your house with utmost perseverance and dedication, yet there may be some more top up features you would like to give to your house. Home Improvement Loan helps you to fulfill these dreams of yours where you can completely change the look of your house and make it your dream house. Get necessary changes made to your house with quick finance and easy documentation process by PNB Housing.
The improvement type includes full renovation of your residential property, up-gradation, waterproofing and ceiling fixing, repair of house/flat, external & internal repairs/paint, tiling and flooring, false ceiling & woodwork and plumbing & electrical work, etc.
The loan will be sanctioned after the amount which will cost in the execution of the improvement has been technically calculated.
The loan will be given in intervals as the renovation process proceeds.
The loan will only be sanctioned after the customer has paid his share in the loan sanctioned.
The renovation and improvement processes are expected to be completed in a period of six months.
Do you have a piece of land in mind and want to save it for future? Are you a builder who thinks the property rates might go high if you invest in this loan? Do you need some funds just to buy the land and have funds to build a house? Then the PNB Residential Plot Loan is for you. Just select a plot that is suitable for you and leave the rest to PNB Housing. PNB Housing provides loan for plot purchase in urban area.
A person of Indian origin who lives outside India is also entitled to purchase a house in India or own a property or renovate his property in his origin nation. This can be done by PNB Home Loan for NRIs. Through this feature, NRIs (Non Resident Indians) and PIOs (Person of Indian Origin) can meet their housing requirements with a great customer support and easy repayment options. Quick access to all the logs and easy documentation are added benefits.
PNB Housing realizes that you have worked hard to achieve your dreams. It values the heart and soul you have put in to excel in the journey of life and we wishes to be a regular contributor to your success and help you become financially independent.
Letting their customers achieve more Unnati with every passing day, PNB Housing has come up with the Unnati Home loan to give a dream house to its customers.
The great deal about the PNB Housing loan is that you can get loan up to 90% of the rate of your property in market. Also, the bank offers you the provision of switching from fixed to variable rate of interest and vice versa. The bank has a reputable position from the last 25 years in this line of trade.
The customer gets easy payment options. Also, with schemes like ‘Unnati’ the bank has proved that they care about the welfare of its customers. NRI citizens can enjoy their own benefits by applying for NRI Home loan. To sum up, PNB housing has something in kitty to offer to all.
You can apply directly for the loan through Finance Buddha. There are many benefits you just need to start counting. Your time and energy is saved and you do not have to ask the banks if you are eligible for the loan or not. You need not ask any one which is the best loan for you; just compare on our portal. The details about every kind of loan offered by PNB Housing have been mentioned here, which enhances the customer experience. We just ask for few details and you get informative information. You can trust us with every minute detail about yourself. Trust, we keep it to ourselves and disclose it to anyone. 100% safe and secure portal, that’s what we are.
Floating Rate of Interest |
|
Salaried Professionals |
8.90% |
Self Employed Professionals |
8.90% – 9.40% |
Self Employed Non-professionals |
9.10%-9.60% |
|
|
Fixed Rate of Interest |
|
For the first 3 fixed years |
|
Salaried Professionals |
9.25% – 10.25% |
Self Employed Professionals |
9.25% – 10.25% |
Self Employed Non-professionals |
9.45% – 10.95% |
|
|
For the first 5 fixed years |
|
Salaried Professionals |
9.25% – 10.25% |
Self Employed Professionals |
9.25% – 10.25% |
Self Employed Non-professionals |
9.45% – 10.95% |
|
|
For the first 10 fixed years |
|
Salaried Professionals |
9.50% – 10.50% |
Self Employed Professionals |
9.50% – 10.50% |
Self Employed Non-professionals |
9.75% – 11.25% |
Fees and Charges |
|
Pre closure charges |
Nil |
Processing fees |
0.50% of the loan amount |
Loan tenure |
Maximum is 30 years (provided the customer is not more than 70 years at the time of maturity of loan) |
Post the fixed rate period, interest rate would automatically get converted into floating rate prevailing at that time for the residual loan amount.
Valid for following offerings of PNB Housing Finance Ltd.:
FLOATING RATE
PNB Housing offers floating rate of interest, linked to its benchmark rate PNBHFR: 14.35% p.a.
Rates are applicable w.e.f. January 6, 2017.
FIXED RATE
PNB Housing offers 3 year, 5 year & 10 year Fixed Rate Scheme w.e.f. January 6, 2017.
The amount of loan you can get depends on the cost of your house, age, income amount, qualification, etc.:
Own Contribution
The customer will have to pay a minimum of the 10% of the amount of the loan to be sanctioned. Stamp duty and registration charges are included.
Security
The security will comprise of the house against which loan is to be availed and it can also comprise any collateral provided by the customer. This lies to banks jurisdiction if they want to accept any other security.
Disbursement
Please note down the following processes as per which your loan will be sanctioned:
Loan Repayment
One needs to clear the dues every month by Equated Monthly Installments (EMI).
The loan can be paid through:
i) Post Dated Cheques
ii) Electronic Clearance System
The period of loan repayment is between three years to thirty years.
Insurance/Customer Safety
In case an unfortunate calamity or accident hits a person; it would be burdening for him to repay the loan. For this, PNB Housing suggests all its valuable customers to insure their housing projects. To make the process easy to tackle, PNB housing has partnered with Bharti AXA and ICICI Lombard.
Floating Rate of Interest |
|
Salaried Professionals |
9.90% |
Self Employed Professionals |
9.90%-10.40% |
Self Employed Non-professionals |
10.10%-10.60% |
|
|
Fixed Rate of Interest |
|
For the first 3 fixed years |
|
Salaried Professionals |
10.25% |
Self Employed Professionals |
10.25% |
Self Employed Non-professionals |
10.45% |
|
|
For the first 5 fixed years |
|
Salaried Professionals |
10.25% |
Self Employed Professionals |
10.25% |
Self Employed Non-professionals |
10.45 |
|
|
For the first 10 fixed years |
|
Salaried Professionals |
10.50% |
Self Employed Professionals |
10.50% |
Self Employed Non-professionals |
10.75% |
Post the fixed rate period, interest rate would automatically get converted into floating rate prevailing at that time for the residual loan amount.
Floating Rate of Interest |
8.90%-9.90% |
Fixed Rate of Interest |
|
For first 3 fixed years |
9.25% – 10.25% |
For first 5 fixed years |
9.25% – 10.25% |
For first 10 years |
9.50% – 10.50% |
Post the fixed rate period, interest rate would automatically get converted into floating rate prevailing at that time for the residual loan amount.
Loan Amount
The amount of loan you can get depends on the cost of your house.
Own Contribution
The customer will have to pay a minimum of the 20% of the amount of the loan to be sanctioned. Stamp duty and registration charges are included.
One needs to clear the dues every month by Equated Monthly Installments (EMI).
The loan can be paid through:
The period of loan repayment is 15 years maximum for home purchase or construction and 10 years maximum for home development.
Floating Rate of Interest |
|
Salaried Professionals |
10.25% |
Self Employed Professionals |
10.25% |
Self Employed Non-professionals |
10.75% |
|
|
Fixed Rate of Interest |
|
For the first 3 fixed years |
|
Salaried Professionals |
10.50% |
Self Employed Professionals |
10.50% |
Self Employed Non-professionals |
11.00% |
|
|
For the first 5 fixed years |
|
Salaried Professionals |
10.50% |
Self Employed Professionals |
10.50% |
Self Employed Non-professionals |
11.00% |
|
|
For the first 10 fixed years |
|
Salaried Professionals |
10.50% |
Self Employed Professionals |
10.50% |
Self Employed Non-professionals |
11.00% |
Post the fixed rate period, interest rate would automatically get converted into floating rate prevailing at that time for the residual loan amount.
The amount of loan you can get depends on the cost of your house, age, income amount, qualification, etc.
The customer will have to pay a minimum of the 10% of the amount of the loan to be sanctioned. Stamp duty and registration charges are included.
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