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PNB Housing Finance Home Loan

PNB Housing Finance Housing Loan 2021

Last Updated 26th Nov 2021

PNB Housing Finance is a large HFC with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 6.99% with quick approval and online process. Home Loan in PNB Housing Finance is quite popular with its special features and attractive rates under various PNB Housing Finance home loan schemes for different income and occupation groups. Some of the key features of PNB Housing Finance housing loan are:

  • PNB Housing Finance also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.
  • PNB Housing Finance has an online application process where the KYC, income and property documents submission can be done digitally.
  • You can easily check the status of your PNB Housing Finance home loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback Get Online Sanction in Lockdown Period

PNB Housing Finance Home Loan Details

PNB Housing Finance offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan PNB Housing Finance

Age Min 21 and Max 70 years for Salaried
Min 21 and Max 70 years for Self Employed
Repayment Tenure 30 years
Interest Rate 6.99%
Interest Rate Linked To PLR
Processing Fee Upto 1.00%, Minimum ₹ 10,000
Lowest EMI Per Lakh ₹ 665
  • Purpose of Loan: PNB Housing Finance house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of PNB Housing Finance Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 70 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 70% to 90%.
    • Loan Tenure can range from 5 to 30 years.
    • Interest rates in the range of 6.99% to 10.75%.
    • PNB Housing Finance home loan EMI per lakh starts from ₹ 665. However, you can calculate your home loan EMI using PNB Housing Finance home loan calculator 2021.
  • Special schemes: PNB Housing Finance offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

Features & Benefits of PNB Housing Finance Home Loans

Some of the features and benefits of PNB Housing Finance Home Loans are listed as follows:-

  • PNB Housing Finance Home Loan Interest Rate starts from 6.70%.
  • PNB Housing Finance charges a processing fees of Upto 1.00%, Minimum ₹ 10,000.
  • Loan Tenure of Home Loan ranges from 5 years to 30 years.
  • Lowest EMI per lakh on home Loan from PNB Housing Finance is per lakh offered at the lowest interest rate of 6.70% at the longest loan tenure of 30 years.
  • PNB Housing Finance allows prepayment of home loans with Nil charges on floating rate loans.
  • PNB Housing Finance has an average customer rating of 4.3/5.0 from customers who have taken a home loan from the bank.

How to Get Easy Home Loan from PNB Housing Finance?

Getting a home loan from PNB Housing Finance is fairly easy with an online application process. 5 Steps for PNB Housing Finance Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of PNB Housing Finance and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of PNB Housing Finance or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a PNB Housing Finance’s representative will visit your home or office to collect your documents.
  • Step 4: PNB Housing Finance will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from PNB Housing Finance and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

PNB Housing Finance Home Loan Documents Required

To apply for a home loan in PNB Housing Finance, the bank asks you to submit the following PNB Housing Finance Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or PNB Housing Finance account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

PNB Housing Finance Home Loan EMI Calculator

PNB Housing Finance home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. PNB Housing Finance Home loan calculator helps the loan borrower pre-plan their home loan in advance.

PNB Housing Finance Home Loan Eligibility Calculator

PNB Housing Finance Home loan eligibility calculator is an online tool that helps the PNB Housing Finance home loan borrowers estimate their home loan eligibility. The eligibility calculator considers various factors such as the income of the applicant, age, work experience, employment and credit score. Therefore, the eligibility helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare PNB Housing Finance Home Loan with Other Banks

FAQs

What are the documents required for home loan PNB Housing Finance?

To apply for PNB Housing Finance Home Loan, you will be required to submit PNB Housing Finance home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from PNB Housing Finance ?

Below-mentioned is the reason why you must avail a home loan from PNB Housing Finance

  • Online sanction facility in Covid
  • PAN India branch network
  • Quick processing of loan applications
  • Multiple repayment options

Can I apply for an PNB Housing Finance home loan online?

Yes, you can apply for a PNB Housing Finance home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best PNB Housing Finance home loan scheme?

Choosing the best PNB Housing Finance home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best PNB Housing Finance home loan scheme is based on one’s needs.

Is PNB Housing Finance good for a home loan?

PNB Housing Finance is one of the best home loan lenders in the country. Currently, PNB Housing Finance home loan interest rate 2021 starts at 6.50%.

How can I check my PNB Housing Finance home loan status?

One can check their PNB Housing Finance home loan status on PNB Housing Finance’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the PNB Housing Finance mobile app

What is the eligibility for a Home Loan of PNB Housing Finance?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is PNB Housing Finance Home Loan procedure?

There are two methods to complete the application for PNB Housing Finance Home Loan Process online:

  • Apply online at PNB Housing Finance official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

What is the maximum loan tenure I can opt under PNB Housing Finance house loan?

PNB Housing Finance offers you a longer tenure of 30 years to repay your loan with the benefit of paying less EMI per month.

Does PNB Housing Finance check CIBIL for home loan?

Yes, to avail home loan from PNB Housing Finance, you must fulfill PNB Housing Finance Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

Can I transfer my house loan from another bank to PNB Housing Finance?

Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Availing loan transfer to PNB Housing Finance can allow you to save interest, pay lower EMIs, and save money.

Can I club the income of my spouse with mine and apply for joint Home Loan?

You can club the income of your spouse to increase your Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in PNB Housing Finance is PLR . PLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In PLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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PNB Housing Finance Home Loan News - Dec 2021
  • 2021-09-27 : PNB Housing Finance Revises Home Loan Rates
    PNB Housing Finance has revised home loan rates for borrowers. A borrower can get an interest rate of 7.20% with a credit score above 800. A self employed can get loan at 7.40%, there is no change in rates of Unnati Home Loans.
  • 2021-07-09 : PNB Asks PNB Housing Finance To Restructure Fundraising Plan
    Government-owned Punjab National Bank has written to PNB Housing Finance Ltd, asking it to consider restructuring the Rs 4,000-crore fundraising plan which involves Home Loan and Loan Against Property. The fundraising plan announced on May 31, would have pruned PNB stake in the housing finance company to around 20% from 32.6% currently and raised the shareholding of private equity firm Carlyle to over 50%.
  • 2021-04-30 : PNB Housing Finance posted ₹127-cr net profit in Q4
    PNB Housing Finance reported a consolidated net profit of Rs 127 crore in Q4 backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during January-March was down at Rs 1,834 crore from Rs 1,952 crore in the same period of 2019-20. Interest income dropped over 7% at Rs 1,670 crore during the quarter as against Rs 1,803 crore a year earlier.
  • 2021-03-01 : PNBHFL cut its home loan rates to 7.35%
    PNBHFL reduced its home loan rates to 7.35%. The revised rates for home loan will be effective from 25th February 2021.
  • 2020-07-31 : PNB Housing Finance introduced online application and verification platform
    PNB Housing Finance launched Ace - an innovative digital customer onboarding platform. The move is aimed at facilitating easier, safer approval and disbursal of home loans with a minimal physical interface.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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