PNB Housing Finance Limited Loan Against Property
Last Updated : Nov. 16, 2016, 4:05 a.m.
PNB Housing Finance limited provides loans against mortgage of existing residential/commercial immovable property for business expansion, foreign travel, education, marriage etc. Get all the details related to PNB Housing Finance Limited Loan Against Property right here.
PNB HFL Loan Against Property Interest Rates
| Particulars | Details |
|---|---|
| Interest Rate | 7.99% - 10.50% |
| Loan Amount | Up to 70% of the value of the property |
| Tenure | 15 years |
| Processing Fees | 2% of the loan amount + Applicable Taxes |
| Age limit | Salaried borrowers - Up to 60 years Self-employed borrowers – Up to 65 years |
Features & Benefits of PNB HFL Loan Against Property
- Pan India branch network
- Various repayment options
- Longer tenure period of 15 years
- Loan amount up to 50% of the value of the property
- Instant loan in 3 minutes
- Extensive range of home loan products like Loan for Purchase or Construction of Commercial Property, Loan Against Property & Commercial Property and Lease Rental Discounting
PNB HFL Loan Against Property Eligibility Criteria
Below is the list of people who can apply for PNB HFL loan against property:
- Salaried individual
- Self-employed professional/non-professional
- Age up to 60 years for salaried individuals
- Age up to 65 years for self-employed professionals
Documents Required for PNB HFL Loan Against Property
For Salaried:
- Duly attested mortgage loan application form with photograph
- Age proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
- Residence proof (Passport, Driving License, Telephone Bill, Ration card, Election Card, Any other Certificate from Statutory Authority)
- Latest degrees of education Qualification
- Last 3 months salary slip
- Form 16 for last 2 years
- Last 6 months bank statement (salary account)
- Photocopy of the title documents of the property, Approved Plan
- Processing Fee cheque in favour of ‘PNB Housing Finance Ltd.’
For Self-employed professionals:
- Duly filled mortgage loan application form with photograph
- Age proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
- Residence proof (Passport, Driving License, Telephone Bill, Ration card, Election Card, Any other Certificate from Statutory Authority)
- Latest degrees of education Qualification (for professionals)
- Last 3 years Income Tax Returns (Self and business) with Profit & Loss Account & Balance sheets duly attested by a Chartered Accountant
- Processing Fee cheque in favour of ‘PNB Housing Finance Ltd.’
- Photocopy of Title Documents of the Property, Approved Plan etc.
How to Apply for PNB HFL Loan Against Property
To apply for PNB mortgage loan against property, you have to submit the above mentioned self-attested documents to the nearest branch or submit the documents online if applying online.
PNB Housing Finance Limited EMI Calculator
EMI calculator is the tool that lets you know the monthly EMIs for the loan amount at a particular rate of interest for a limited tenure period. For eg. If you are taking a loan of Rs. 10 lacs at the interest rate of 13.00% p.a for a tenure period of 15 years, your EMI will be Rs. 12,652. For more details on the EMIs, total interest outgo, total amount as per the tenure period, please refer to the below-given table:
Table for EMI per month, Total Interest Outgo and Total Amount
| Amount (in Rs.) | Rate of Interest (p.a.) | Loan Tenure (in years ) | EMI (in Rs.) | Total Interest Outgo (in Rs.) | Total Amount (Principal + Interest) (in Rs.) |
|---|---|---|---|---|---|
| 10,00,000 | 13% | 1 | 89,317 | 71,807 | 10,71,807 |
| 10,00,000 | 13% | 2 | 47,542 | 1,41,004 | 11,41,004 |
| 10,00,000 | 13% | 3 | 33,694 | 2,12,982 | 12,12,982 |
| 10,00,000 | 13% | 4 | 26,827 | 2,87,720 | 12,87,720 |
| 10,00,000 | 13% | 5 | 22,753 | 3,65,184 | 13,65,184 |
| 10,00,000 | 13% | 6 | 20,074 | 4,45,336 | 14,45,336 |
| 10,00,000 | 13% | 7 | 18,192 | 5,28,125 | 15,28,125 |
| 10,00,000 | 13% | 8 | 16,807 | 6,13,496 | 16,13,496 |
| 10,00,000 | 13% | 9 | 15,754 | 7,01,387 | 17,01,387 |
| 10,00,000 | 13% | 10 | 14,931 | 7,91,729 | 17,91,729 |
| 10,00,000 | 13% | 11 | 14,276 | 8,84,446 | 18,84,446 |
| 10,00,000 | 13% | 12 | 13,746 | 9,79,460 | 19,79,460 |
| 10,00,000 | 13% | 13 | 13,312 | 10,76,688 | 20,76,688 |
| 10,00,000 | 13% | 14 | 12,953 | 11,76,043 | 21,76,043 |
| 10,00,000 | 13% | 15 | 12,652 | 12,77,436 | 22,77,436 |
Amortization Table
| Year | Principal (in Rs.) | Interest (in Rs.) | Balance Amount (in Rs.) |
|---|---|---|---|
| 1 | 23,172 | 1,28,652 | 9,76,828 |
| 2 | 26,371 | 1,25,453 | 9,50,457 |
| 3 | 30,011 | 1,21,813 | 9,20,446 |
| 4 | 34,158 | 1,17,666 | 8,86,288 |
| 5 | 38,869 | 1,12,955 | 8,47,419 |
| 6 | 44,234 | 1,07,590 | 8,03,185 |
| 7 | 50,341 | 1,01,483 | 7,52,844 |
| 8 | 57,287 | 94,537 | 6,95,557 |
| 9 | 65,196 | 86,628 | 6,30,361 |
| 10 | 74,194 | 77,630 | 5,56,167 |
| 11 | 84,437 | 67,387 | 4,71,730 |
| 12 | 96,092 | 55,732 | 3,75,638 |
| 13 | 1,09,358 | 42,466 | 2,66,280 |
| 14 | 1,24,449 | 27,375 | 1,41,831 |
| 15 | 1,41,969 | 10,197 | 0 |
PNB HFL Loan Against Property Processing Fee
PNB Housing Finance Limited mortgage loan against property has processing fees of 2% of the loan amount.