Punjab National Bank Home Loan

Not often you find a lender that offers a variety of home loan products suiting the tastes of several customers looking to buy a home within your budget. Punjab National Bank (PNB) definitely fits the bill in this regard.The public lender, with a branch and ATM network of around 7,000 and 10,000 in over 700 cities, provides you with a gamut of home loan options, which consist of PNB Pride Housing Loan For Government Employees, Housing Loan for Public, Housing Loan for Public – Pradhan Mantri Awas Yojana – Housing for All, PNB Gen-Next Housing Finance Scheme For Public and Private Builder`s Approved Project on PAN India Basis. We can help you in picking from the list by showing the details of each offer. Are you ready to take the plunge of PNB home loan? Read the information below.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    PNB Home Loan Interest Rate

    ParticularsDetails
    Interest Rate8.50% - 8.60%
    Maximum Loan Amount₹50 Crores
    Repayment 30 Years
    Prepayment ChargesNil

    What is the documentation required to apply for PNB Home Loans?

    The list of documents that you must have to apply for the loan is as follows:

    ProofsSalariedSelf -employed/Professionals
    Age ProofPassport/PAN Card or Any Other Certificate from Statutory AuthorityPassport, PAN Card or Any Other Certificate from Statutory Authority
    Identity ProofPAN Card/Passport/Voter ID/Driving LicensePAN Card/Passport/Voter ID/Driving License
    Residence ProofPassport/Driving License/Voter ID/Ration Card/Telephone BillPassport/Driving License/Voter ID/Ration Card/Telephone Bill
    Income ProofSalary Slips for Past 3 Months

    Form 16 for Past 2 Years

    Last 6-month Bank Statement
    ITR for Last 3 Years

    CA-certified Profit & Loss Account and Balance Sheet of Last 3 Years

    1-year Bank Statement (Both Self & Business)

    Processing Fee ChequeApplicableApplicable
    Property DocumentsPhotocopy of Property Title DocumentPhotocopy of Property Title Document

    PNB Home Loan EMI Calculator

    It’s always a tendency to get a hang of the payout with respect to the loan and more so in the case of a home loan, isn’t it? As home loan runs for a long-tenure of 20-30 years, you have to be aware of the cash flow from your account. Negligence on the same can disturb your financial lifecycle. So, the best recourse available here is to take the reference of EMI calculator to calculate your home loan EMI, interest payment, and the overall outgo from your pocket over the loan term.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    Year Principal Interest Balance Amount

    PNB Pride Housing Loan For Government Employees

    The scheme ensures a home for government employees through attractive loan offers. These employees can take a home loan to serve the following purposes-

    • Purchase of house or flat
    • Construction of house or flat
    • Buying under construction flats or homes from property development authority/housing board/approved private builder projects/cooperative societies
    • Add extra rooms to the flat or house
    • Repair, renovate, or change the structure of the home
    • Buying plot or land to construct a house

    Basic Details 

    ParticularsDetails
    EligibilityPermanent Employees of Central or State Governments, Defence Personnel
    Maximum Loan Amount₹1 Crore for State Capitals and Metro, ₹50 Lacs for Other Centres, ₹25 Lacs for Repairs/Alterations/Renovation
    Maximum Loan Tenure30 Years, 15 Years for Home Renovation/Repairs/Alterations
    Repayment HolidayTime to complete repairs, renovation or alterations, or 6 months from the disbursement of first loan EMI, whichever comes earlier

    In case of purchase of ready-to-move house/flat/land/plot-the date of possession or 3 months from the loan EMI, whichever comes earlier
    Margin Money (To be Paid by a Borrower)On Loan Upto ₹75 Lacs-20%

    On Loan More than Rs. 75 Lacs-25%

    On Buying Plot or Land to Build House-25%
    Processing FeeNIL
    Documentation ChargesNIL
    SecurityEquitable or Registered Mortgage of the Property

    Housing Loan for Public

    This scheme is envisaged to provide homes to a general public via a home loan at attractive interest rates. The loan can be availed to serve several purposes such as-

    • Construction of Flat or house
    • Purchase of house or flat
    • Purchase of under-construction flat or house from either property development authorities, housing boards, approved private builders or co-operative societies
    • Making additions to the flat or house
    • Repairing, renovating or making changes in the look of the house or flat
    • Furnishing the flat or house

    Basic Details

    ParticularsDetails
    EligibilityIndividuals or Joint Owners
    Maximum Loan Amount₹1 Crore for State Capitals and Metro, ₹50 Lacs for Other Centres, ₹25 Lakhs for Repairs/Alterations/Renovation
    Maximum Loan Tenure30 Years, 15 Years for Home Renovation/Repairs/Alterations
    Repayment HolidayTime to complete repairs, renovation or alterations, or 6 months from the disbursement of first loan EMI, whichever comes earlier

    In case of purchase of ready-to-move house/flat/land/plot-The date of possession or 3 months from the loan EMI, whichever comes earlier
    Margin Money (To be Paid by a Borrower)On Loan Upto ₹75 Lacs-20%

    On Loan More than Rs. 75 Lacs-25%

    On Buying Plot or Land to Build House-25%
    Processing FeeUpto ₹3 Cr-0.50% of loan amount, subject to a maximum of ₹20,000. Above Rs. 3 Cr-Rs 50,000
    Documentation Charges₹1,350
    SecurityEquitable or Registered Mortgage of the Property

    Housing Loan for Public–Pradhan Mantri Awas Yojana–Housing for All

    Specially targeted towards the economically weaker sections of the society, the loan scheme ensures these people get a home to stay. These lower income group sections can avail this loan to undertake activities like-

    • Purchase of house or flat
    • Construction of house or flat
    • Addition of rooms as well as expand the size of kitchen and other interiors of the house

    Basic Details

    ParticularsDetails
    EligibilityEconomic weaker section households.

    Households whose annual income grosses upto Rs 3 lacs come under the category of economically weaker section.
    Maximum Loan Amount₹30 Lakhs, subject to Loan to Value (LTV) ratio & repayment capacity of the individual
    Maximum Loan Tenure30 Years, 15 Years for Home Renovation/Repairs/Alterations
    Repayment HolidayTime to complete repairs, renovation or alterations, or 6 months from the disbursement of first loan EMI, whichever comes earlier.

    In case of construction or addition-Time taken to complete construction/addition or 18 months from the disbursement of first loan EMI, whichever comes earlier.

    In case of purchase of ready-to-move house/flat/land/plot-the date of possession or 3 months from the loan EMI, whichever comes earlier.
    Margin Money (To be Paid by a Borrower)On Loan Upto ₹20 Lakhs-10%

    On Loan Above Rs. 20 Lacs-30 Lacs-20%

    Processing FeeNIL
    Documentation ChargesNIL
    SecurityEquitable or Registered Mortgage of the Property

    PNB Gen-Next Housing Finance Scheme For Public

    Gen-Next salaried professionals from sectors like IT & banking, along with government employees with a minimum work experience of 3 years have a reason to smile with the offering of PNB Gen-Next Housing Finance Scheme that embarks on providing these particular group of people a dream home via a custom loan product. Want to know what these gentlemen can do with this loan offer? Read out the points below.

    • It can be availed to purchase a ready-to-move flat or house
    • Construct flat or house
    • Purchase under-construction flat or house of approved private builders

    Basic Details

    ParticularsDetails
    EligibilityAge - Borrowers with age upto 40 years are eligible for the loan. In case of joint borrowers, one must be upto 40 years while the other one's age must not be over 45 years.

    Income - Minimum net monthly salary should be ₹35,000
    Minimum Loan Amount₹20 Lacs
    Maximum Loan AmountBased upon the requirements
    Maximum Loan Tenure30 Years
    Repayment Holiday3-5 years in case of under construction flat of approved builder
    Other cases- Max. Period-3 Years
    However, interest will apply
    However, interest is to be serviced as and when levied during the holiday period.
    Margin Money (To be Paid by a Borrower)Loan upto ₹75 Lacs-20%
    Loan above ₹75 Lacs-25%
    Processing FeeUpto ₹3 Cr-0.50% of loan amount, subject to a maximum of ₹20,000. Above ₹3 Cr-₹50,000
    Documentation Charges₹1,350
    SecurityEquitable or Registered Mortgage of the Property

    PNB Home Loan Application Form

    Now when you are aware of the cash outflow related to PNB home loan, let’s get on with the process of application. You can fill a home loan application form online by submitting the details of identity, residence, income and others. Also, you can visit the branch and request for the form, which you have to fill and submit it along with necessary documents to the concerned official to process your application.

    Subsequent to ascertaining the authenticity of details by sending the executive to your residence and office, the bank approves the loan application. Post-approval, the executive will come to see the property you wish to buy. The executive will make a legal & technical report with regards to the property. After looking at the report, the bank will set a particular valuation amount. Around 75%-80% of the amount can be sanctioned as a home loan to you.

    PNB Home Construction Loan

    Benefits of taking home construction loan from PNB Housing

    • It offers customised home construction loan to meet the requirements of the customers
    • Maximum and higher loan eligibility
    • Fast process and quick disbursal of the loan amount
    • Option to increase in loan amount in the event of escalations in cost
    • various repayment options to choose from

    PNB Housing Plot Purchase loan

    Advantage of taking plot purchase loan

    • You can apply for individual or joint loan for plot purchase
    • The maximum loan is 90% of the market value of the property or above ₹75 lakhs
    • Your age should not be more than 70 years at the time of maturity of the loan
    • Loan is available for purchase of plot, purchasing for resale plot
    • You can also borrow the loan for transferring any existing loan from any other bank or NBFCs
    • Loan is available for minimum tenure of 3 years and for maximum tenure of 30 years
    • Fastest approval and disbursal of loans
    • Excellent post disbursement service
    • Simple documentation
    • Option to increase loan amount in the event of escalations in cost

    Maximum loan amount

    Loan amountMaximum Funding
    Up to  ₹20 lakhs90% of the market value
    ₹20 lakhs and above, up to ₹75 lakhs80% of the market value
    Above ₹75 lakhs75% of the market value

    Documents required for home construction loan

    Salaried EmployeesSelf-employed/Professionals
    Duly filled Application Form with PhotographDuly filled Application Form with Photograph
    Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)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)Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
    Education Qualifications – Latest DegreeEducation Qualifications – Latest Degree (for professionals)
    Latest Salary-slips for 3 monthsCertificate & Proof of business existence along with Business Profile
    Form 16 for last 2 years Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
    Last 6 months Bank Statements(salary account) Last 12 months Bank Account Statements (self & business)
    Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’ Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’
    Photocopy of Title Documents of the Property, Approved Plan
    Photocopy of Title Documents of the Property, Approved Plan, etc.

    PNB Home Improvement loan

    Benefits of taking PNB Home Improvement Loan

    • It offers an extensive range of home products such as home purchase loans, home construction loans, home extension loans, home improvement loans and plot loans.
    • Facility to avail the loan across India
    • Fast and easy approval and disbursal of loans
    • Best post disbursement services
    • Facility of loan amount enhancement in the event of escalations in cost
    • Opportunity to choose from various repayment options

    How can you check PNB Housing Loan Status?

    You can check the application status of your loan by simply visiting the official website of the bank. You can also visit the nearest bank branch to check how much time it will take to get the disbursal amount in your account.

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    EMI Calculator