What You Should Know When Opting for a PNB Housing Home Loan?
Thanks to the recent reduction of repo rate by 25 basis points at 6% by the Reserve Bank of India! In a period of three years, the RBI has reduced lending rates seven times in response to diverse macroeconomic aspects, only to the advantage of loan applicants across India. And banks have proactively started trimming down lending and deposit rates. Visit MyMoneyMantra for diversified options of reduced lending rates so that you choose the bank that provides the best after a careful comparative analysis. PNB Housing Home Loan is what many an individual prefers to choose.
This bank offers home loan at two different interest rates, viz. floating and fixed. If you are an existing customer, already availing a loan taken before 1st March 2017, you will enjoy loans lined to PNBHFR at 14.35% p.a. under the floating rate scheme. Those who have taken a loan on or after 1st March 2017 are entitled to different rates of interest starting from 8.50% to 10.75% under the same scheme. PNB Housing Home Loan differs under the fixed rate scheme depending on salaried, self-employment, and self employed non-professionals. With effect from 26 May 2017, 3/5/10 year fixed rate schemes have been introduced for a loan amount below and above 30 Lakhs. The 2 year fixed ROI available with this bank had been effective from 3rd July 2017 for the same loan amount. The rates of interest mentioned above are subject to change at the sole discretion of PNB Housing.
If you are all ready to avail PNB Housing Home Loan, strategize first on what you exactly want. You want a new home at your preferred location or you want to extend your dwelling unit. PNB also offers loans for construction, plots, home improvement, etc. In short, the bank offers customized solutions according to your requirements. Once you have decided what you would go for, check your eligibility criteria. Submission of details like loan amount you want, repayment schedule, and related information will help the bank attend to your requirement effectively. You may apply online or visit the nearest bank branch.
PNB Housing Home Loan comes with a wealth of benefits. Once you apply for loan or contact the bank, you will avail door step services. This facilitates easy and fast approval and disbursal of credit. PNB is in the good books of many a customer for its excellent post disbursement services. Their pan India branch network is an advantage that you gain. In case of escalations in cost, PNB provides enhancement in loan amount. With various repayment options, they are transparent in their dealings at every step.
What are the documents that you need to keep ready for submission when you apply for PNB Housing Home Loan? The documents required are almost similar for all banks. These range from age proof, residence proof, educational certificates to bank statements, income tax returns, and more depending on whether you are salaried or not. All documents require self attestation. For more details on every aspect of the loan availing process, visit the PNB website or talk to Mortgage Specialists of MyMoneyMantra.
Also Read: Are You Eligible for PNB Housing Loan?
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