PNB Housing Finance Limited Loan Against Property – Interest Rates 2016 & Eligibility

Loan Against Property

PNB Housing Finance limited provides loans against mortgage of existing residential/commercial immovable property for business expansion, foreign travel, education, marriage etc. The mortgage loan rate of interest is available at 11.25% p.a. onwards for a maximum tenure period of 15 years

PNB HFL Loan Against Property Details:

ParticularsDetails
Interest Rate11.25% p.a onwards
Loan AmountUp to 50% of the value of the property
Tenure15 years
Processing Fees2% 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
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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:

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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.)
10,00,00013%189,31771,80710,71,807
10,00,00013%247,5421,41,00411,41,004
10,00,00013%333,6942,12,98212,12,982
10,00,00013%426,8272,87,72012,87,720
10,00,00013%522,7533,65,18413,65,184
10,00,00013%620,0744,45,33614,45,336
10,00,00013%718,1925,28,12515,28,125
10,00,00013%816,8076,13,49616,13,496
10,00,00013%915,7547,01,38717,01,387
10,00,00013%1014,9317,91,72917,91,729
10,00,00013%1114,2768,84,44618,84,446
10,00,00013%1213,7469,79,46019,79,460
10,00,00013%1313,31210,76,68820,76,688
10,00,00013%1412,95311,76,04321,76,043
10,00,00013%1512,65212,77,43622,77,436

Amortization Table

YearPrincipal (in Rs.)Interest (in Rs.)Balance Amount (in Rs.)
123,1721,28,6529,76,828
226,3711,25,4539,50,457
330,0111,21,8139,20,446
434,1581,17,6668,86,288
538,8691,12,9558,47,419
644,2341,07,5908,03,185
750,3411,01,4837,52,844
857,28794,5376,95,557
965,19686,6286,30,361
1074,19477,6305,56,167
1184,43767,3874,71,730
1296,09255,7323,75,638
131,09,35842,4662,66,280
141,24,44927,3751,41,831
151,41,96910,197

PNB HFL Loan Against Property Processing Fee

PNB Housing Finance Limited mortgage loan against property has processing fees of 2% of the loan amount.