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PNB Housing Loan Against Property Details

The key details of the Punjab National Bank loan against property are given below:

Loan amountUp to 70% of the property’s market value
Rate of interest9.25% - 12.45% p.a.
TenureUp to 20 years
Age limitMaximum 60 years for salaried employees and 65 years for self-employed professionals/ non-professionals
Processing fee2% of the loan applied for + GST

PNB Housing Finance Ltd provides loans against property following which an individual can utilise the proceeds for fulfilling various financial requirements that are beyond house purchase or renovation. Expenses related to higher education, marriage, medical treatment, immediate requirement for home improvement, a long-awaited vacation or pilgrimage, expansion of business, etc. A PNB Mortgage Loan can be truly helpful in case of a seasonal job loss or any unanticipated damage to property or assets.

Apply for IDFC Loan Against Property

PNB Housing Loan Against Property (LAP) Interest Rates

PNB LAP interest rates are floating. Below is the table for the current PNB loan against property interest rates:

Credit ScoreLoan Against Commercial Property (p.a.)Loan Against Residential Property (LAP) (p.a.)Loan Against Plot/ Loan Against Special Property (p.a.)
>=8259.25% - 9.75%9.25% - 9.75%9.25% - 9.75%
>800 - 8259.35% - 9.85%9.35% - 9.85%9.35% - 9.85%
>775 - 79910.3% - 10.8%10.3% - 10.8%10.3% - 10.8%
>750 - <=77510.9% - 11.4%10.9% - 11.4%10.9% - 11.4%
> 725 - < =75011.3% - 11.8%11.3% - 11.8%11.3% - 11.8%
> 700 - <= 72511.75% - 12.25%11.75% - 12.25%11.75% - 12.25%
> 650 - <= 70011.95% - 12.45%11.95% - 12.45%11.95% - 12.45%
Up to 65011.95% - 12.45%11.95% - 12.45%11.95% - 12.45%
NTC CIBIL >=17011.85% - 12.35%11.85% - 12.35%11.85% - 12.35%
NTC CIBIL <17011.75% - 12.25%11.75% - 12.25%11.75% - 12.25%

Compare Loan Against Property Interest Rates for Top Banks

Below is the comparison of the loan against property interest rate PNB with LAP interest rates of other lenders. You can compare the rates offered by different lenders to choose the best option:

Name of the LenderInterest Rate (% p.a.)
PNB Housing Finance9.25% - 12.45%
HDFC Bank9.50% - 11.00%
State Bank of India10.10% - 11.65%
IDFC First Bank9.00% - 20.00%
Federal Bank12.60%
Home First 12.80% - 18.50%
Kotak Mahindra Bank9.15% - 10.50%
Bank of Baroda10.85% - 16.50%
L&T Housing Finance9.60%
LIC Housing Finance9.70% - 11.55%
Godrej Housing Finance9.75% onwards
ICICI Bank10.85% - 12.50%
Tata Capital10.10%
Bajaj Housing Finance9% - 14%
Axis Bank10.50% - 10.95%

Features and Benefits of PNB Housing Loan Against Property

PNB Housing Finance LAP allows you to meet your upcoming financial requirements in an efficient manner, without stretching your finances. 

If you are wondering as to why you should apply for a PNB Housing Loan Against Property for your financial needs, here are some reasons that you must make a note of:

  • High-value loans: PNB Housing Loan Against Property is a secured loan. Hence, the main advantage of opting for this type of loan is that the loan amount available is substantial and directly linked to the value of the property. Depending on your credit profile, you can get loan amount as high as 70% of the value of the property.
  • Low interest rates: Interest rates for PNB Housing Finance Loan Against Property interest rates start from 9.25% - 12.45% per annum for residential properties. Since PNB Housing Loan Against Property is a secured loan, the interest rates are substantially lower than other unsecured loans such as personal loans. This means you are eligible for high-value loans and entitled to lower interest rates.
  • High chances of approval: Generally, people who don't have a conventional job or a credit history often find it harder to get conventional loans. In such cases, opting for a PNB Housing LAP increases one's chance of getting the required financial assistance. The reason being that as the property is offered as collateral, the company has the confidence that the risk associated with the loan has reduced significantly.
  • Improve your credit score: Finally, paying off the Loan Against Property on time helps you improve your credit score. As the information is automatically received by the credit bureau, if you successfully pay off the loan on time, your credit score definitely becomes better.
  • Longer repayment tenure: The loan can be repaid in maximum 20 years

You can also apply for loan against property without income proof

Types of Loan Against Property Offered by PNB Housing Finance

Depending on the type of property provided by the customer as collateral, PNB Housing Finance Loan Against Property can be further classified into three types:

Obviously, since the cost and the value of different types of properties are different, the amount of loan provided will also differ. The general policy of PNB Housing Finance is that the maximum loan amount approved will be up to 70% of of the value of the property. Additionally, depending on the type of loan applied for, the interest rates will also change.

You can also check rates from different banks to apply online for a Loan against agricultural land.

PNB Housing Finance Loan Against Property Eligibility

PNB Housing Finance Ltd. has specified the following basic eligibility criteria for a LAP:

  • The applicant should be a salaried employee, a self-employed professional or a self-employed non-professional.
  • The age of a salaried applicant should not be more than 60 years at the time of loan maturity. 
  • The age of a self-employed professional/ non-professional should not be more than 65 years at the time of loan maturity.

You can also check PNB Loan Against Property Eligibility Criteria Online to Apply Online.

Documents Required for PNB Housing Finance LAP

Following is the required list of PNB loan against property documents:

Documents required for salaried employees

  • Duly filled loan application form with photograph
  • Age Proof (any one): PAN Card, Passport, any other Certificate from Statutory Authority
  • Residence Proof (any one): Passport, Driving License, Election Card, Telephone Bill, Ration Card, any other Certificate from Statutory Authority
  • Education Qualifications: Latest degree
  • Income Proof: Latest salary slips for 3 months, Form 16 for last 2 years, last 6 months Bank Statements of salary account
  • Property documents: Photocopy of Title Documents of the Property, Approved Plan, etc.
  • Processing Fee Cheque: In favour of ‘PNB Housing Finance Ltd.’

Documents required for self-employed/professionals

  • Duly filled loan application form with photograph
  • Age Proof (any one): PAN Card, Passport, any other Certificate from Statutory Authority
  • Residence Proof (any one): Passport, Driving License, Election Card, Telephone Bill, Ration Card, any other Certificate from Statutory Authority
  • Education Qualifications: Latest degree (for professionals)
  • Business Proof: Certificate and Proof of Business Existence along with Business Profile
  • Income Proof: Last 3 years Income Tax Returns (self & business) with Profit & Loss Account and Balance Sheets (duly certified/audited by a Chartered Accountant), last 12 months Bank Account Statements (self & business)
  • Property documents: Photocopy of Title Documents of the Property, Approved Plan, etc.
  • Processing Fee Cheque: In favour of ‘PNB Housing Finance Ltd.’

PNB Housing Loan Against Property Processing Fees and Charges

The processing fees and other charges charged for PNB Housing Finance Loan Against Property are as follows:

Processing fees2% of loan + Applicable taxes
Conversion from floating to the floating rate of interest1% of principal outstanding + Applicable taxes
Conversion from fixed to the floating rate of interest3% of principal outstanding + Applicable taxes
Overdue charges2% p.m. on overdue payment + Applicable taxes
Statement of accountRs. 200 + Applicable taxes
Part/full prepayment by the individual borrower (Floating interest rate loan)Free of charge
Part/full prepayment by the non-individual borrower, being applicant or co-borrower (Floating interest rate loan)3% of principal prepaid + Applicable taxes
Part/full prepayment by the individual borrowers/non-individual borrower, being applicant or co-borrower (Fixed interest rate loan)3% of principal prepaid + Applicable taxes
Loan pre-closure  statement or List of original property documents or Photocopies of original property documentsRs. 500 + Applicable taxes

Lease Rental Discounting Loan Interest Rate

The current PNB Lease Rental Discounting interest rates based on the borrower’s credit score are mentioned in the table below: 

Credit ScoreInterest Rate (p.a.)
>=8259.25% - 9.75%
>800 - 8259.35% - 9.85%
>775 - 79910.3% - 10.8%
>750 - <=77510.9% - 11.4%
>725 - < =75011.3% - 11.8%
>700 - <= 72511.75% - 12.25%
>650 - <= 70011.95% - 12.45%
Up to 65011.95% - 12.45%
NTC CIBIL >=17011.95% - 12.35%
NTC CIBIL <17011.75% - 12.25%

PNB Housing Finance Loan Against Property EMI Calculator

You can use the PNB Housing Loan Against Property EMI Calculator available on our website to instantly find how much you would be paying. Follow the steps given below to use the calculator:

  • Visit our portal and go to the Financial Tools page. 
  • Select ‘Loan Against Property EMI Calculator’.
  • Enter the required loan amount, interest rate, and tenure to get instant results.

Below is an example using our Loan Against Property EMI Calculator:

Loan amount to be availed ofRs. 50 Lakhs
Loan tenure opted20 years
Applicable interest rate9.25% - 12.45% p.a.
Monthly EMIRs. 51,460

You can also calculate your PNB loan against property EMI using the formula mentioned below:

EMI amount = [P x R x (1+R) ^N]/[(1+R) ^N-1], which uses three inputs i.e., Principal loan amount (P), tenure (N), and rate of interest (R).

How to Apply for PNB Housing Finance Loan Against Property

The process to apply for a loan against property at PNB Housing Finance Ltd. is quite easy and online. You just have to fill out the application form available online or offline by mentioning a few basic details about yourself, property details and the purpose of the loan along with KYC.

PNB Housing Loan Against Property Customer Care

You can contact PNB Housing Finance to get any query answered through the following ways:

Phone number: 1800 120 8800

Email Address: customercare@pnbhousing.com

Corporate Office Address:

PNB Housing Finance Ltd, 9th Floor, Antriksh Bhavan, 22 Kasturba Gandhi Marg, Near Connaught Place, New Delhi 110001

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Pre-Approved Loan Against Property @9% p.a 

Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.

PNB Housing Finance Loan Against Property - FAQs

✅ How long does it take to get the Loan Against Property?

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It takes around 5-8 days from the day you submit your documents till the loan disbursement, subject to positive reports from the technical and legal department.

✅ How is the disbursement of the loan made?

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The total loan amount will be directly paid to the customer's bank account. The disbursement will be made only after the proper appraisal and legal documentation.

✅ How old should I be to get the loan?

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The minimum age to apply for a PNB Housing Loan Against Property is 21 years while the maximum age is 60 and 65 years for salaried and self-employed applicants respectively.

✅ Are there any charges for prepayment of the loan?

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Prepayment (part/whole) of loan for individual borrowers and at floating interest is completely free of charge.

✅ Can I change the way I pay the monthly EMIs?

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Yes, but you will have to provide an application at the office of the PNB Housing Finance regarding your request for the change of the payment method.

✅ What is the credit score I require?

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The bank requires a minimum credit score of 650+to approve the loan application.

✅ How long is the maximum repayment tenure of the loan?

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The maximum loan tenure permitted by the financial institution is 20 years.

✅ What is eligibility for loan against property?

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Loan against property eligibility is calculated based on the borrower’s income, age, CIBIL score, existing debt obligations, and other factors.

✅ How much loan is given against property?

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PNB offers loan amount of up to 70% of the market value of the property under loan against property.

✅ What is the interest rate on a PNB loan against property?

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PNB loan against property interest rates vary between 9.25% - 12.45% p.a. depending on the borrower’s category, credit score, and other eligibility factors.

✅ How much loan will I get against property?

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PNB Housing Finance offers up to 70% of the mortgaged property’s market value as loan amount under loan against property.

✅ What is loan against property rate of interest?

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The loan against property interest rate at IDFC First Bank ranges from 9.00% - 20.00% p.a.

✅ Can a loan be taken against property?

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Yes, you can get a loan against commercial properties/ residential and also against plots or special properties.

✅ Why should I calculate my PNB Housing Finance LAP EMI before taking a loan?

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Calculating your PNB Housing Finance LAP EMI before taking the loan helps you decide the most affordable EMI that you can repay conveniently for a long tenure.

✅ Is there a top-up on loan against property from Punjab National Bank Housing Finance?

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Yes, Punjab National Bank Housing Finance also provides top-up on loan against property to the eligible borrowers.

✅ Can I get PNB loan against the property without income proof?

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No. Submitting your income proof is mandatory to secure a loan against property at PNB.

✅ Can I get PNB overdraft against property?

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Yes, you can get a PNB overdraft against property facility under PNB My Property Loan. Individual/joint owners are also eligible for PNB OD against property who have an immovable property and sufficient income to repay the loan.