Instantly check Punjab National Bank Home Loan Eligibility by accessing free Home Loan Eligibility Calculator. PNB Housing offers a range of home loans for different types of customers. Your income, age, credit score and property valuation are some of the factors that affect PNB home loan eligibility. Currently PNB housing home loans start at 6.99% p.a for maximum up to 30 years.
Punjab National Bank is a prominent commercial bank in the country. The head office of the bank is in Delhi. The bank provides banking products like savings account, deposits, personal loan, and much more. Individuals looking to buy or construct a house property can also avail PNB Home Loan at attractive interest rates.
Investment in house property is a critical decision considering the magnitude of the amount involved. Availing a Home Loan needs thorough research to get the best deal since even a small variation in the interest would mean a considerable saving. Punjab National Bank offers various types of Home Loan to cater to the requirement of every category of customer. Punjab National Bank is an ideal destination for an economical Home Loan.
Punjab National Bank has stipulated eligibility criteria for availing the housing loan, which has to be complied with to qualify for the loan.
The following are the features of Punjab National Bank Home Loan:
|Purpose||There are different types of Home Loans depending on the purpose. Home Loan for construction, Home Loan for the purchase of a house/flat, Home Loan for renovation and Home Loan for the purchase of a plot and construction of a house thereon, Home Loan for the repurchase of a house/plot.|
|Security||Equitable Mortgage of the property created out of the loan.|
|Balance Transfer||Punjab National Bank offers the facility of transferring the Home Loan balance with your existing lender at a comparatively low interest.|
|Interest subsidy||For a Home Loan under Prime Minister's Awas Yojana, you get the reimbursement of interest up to the extent of 2.67 Lakhs in the form of interest subsidy.|
|Documentation charges||The documentation charges of 1,350 will be collected. For balance transfer, the documentation charges collected will be 2,500.|
|Pre-closure/part pre-payment charges||Pre-payment charges at 2% of the outstanding loan balance and part pre-payment charges at 2% of the pre-paid amount will be collected.|
The documents required for the loan are as below:
|Type of document||Salaried||Self-Employed|
|Age Proof||Voter's ID, Passport, Aadhar Card, Pan Card, any other certificate issued by statutory authorities.|
|Proof of residence||Utility bills, Aadhar Card, Voter's ID, Driving Licence, Passport|
|Proof of qualification||Degree Certificate (latest)|
|Income Proof||3 months latest salary slip, Form 16 and IT Returns for the last 2 years|
Financial statements like audited balance sheet, Profit and Loss Account for the last 2 years along with ITwith income computation for the last 2 years
|Business Vintage proof||Not applicable||Certificate of incorporation or GST Certificate|
|Bank Statement||Statement of Bank Account for the last 6 months||Statement of Bank Account for the last 12 months|
|Property documents||Copies of the title documents of the property and approved plan.|
|Photograph||Two passport size photographs|
|Application form||The prescribed form for a Home Loan|
The following are the factors affecting Punjab National Bank Home Loan Eligibility:
The following are some of the tips to increase the Home Loan eligibility:
Using an EMI Calculator before applying for a Home Loan has the following benefits:
The EMI constitutes of both the interest and the principal component. The EMI value will be constant, but the adjustment of the interest and principal component vary as the tenure progresses. Initially, a higher amount will be adjusted towards the interest component which will reduce as the tenure progresses. Similarly, the adjustment towards the principal component will be lower initially which will increase as the tenure progresses.
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The following is the stepwise procedure for applying for a Home Loan at PNB.
Yes. PNB provides a Home Loan to NRIs. If the status of the customer changes to a resident on account of re-location, the Home Loan repayment will also be reassessed based on the changed status. A revised repayment scheduled will be worked out. The rate of interest will be revised to the prevailing rate of interest for the particular product. This interest will be applicable to the outstanding balance that is being converted. A communication will be sent to the customer regarding the change in status from NRI to a resident.
Yes. Refinance will be provided at the prevailing interest if the loan is applied for within 6 months from the date of purchase of the property.
It is not mandatory for the NRI customer to be physically present at the time of submission of the application and the disbursement of the loan. The application and execution of loan documents can be done by the power of attorney holder on behalf of the customer. The appointment of the power of attorney should be as per the Housing Format of the Bank.
Collateral security can be by way of deposit of title deeds or any other collateral security as required by the bank. Property with marketable title and without any encumbrance only will be accepted.