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PNB Housing Finance Home Loan Balance Transfer

Home Loan Transfer to PNB Housing Finance: Details

Last Updated 26th Nov 2021

Interest Rate6.99%
Processing FeeNil
Lowest EMI per lakh₹ 665
Loan Tenure30 years
  • PNB Housing Finance offers a home loan balance transfer facility at low interest rates starting at 6.99% for a tenure of upto 30 years.
  • You can transfer your home loan to PNB Housing Finance to reduce EMIs and save more on interest.
  • Avail home loan top up from PNB Housing Finance at the time of loan balance transfer to fulfil additional fund requirements.
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PNB Housing Finance Home Loan Transfer

PNB Housing Finance, the largest HFC in India, offers the facility to transfer your home loans from the existing scheduled commercial, private and foreign banks and housing finance companies to PNB Housing Finance at the lowest interest rates. To transfer your housing loan to PNB Housing Finance, you must have regularly paid the EMIs for a minimum tenure of 6-12 months and fulfil other eligibility criteria of PNB Housing Finance.

PNB Housing Finance Home Loan Balance Transfer Charges

Before you decide to transfer your home loan to PNB Housing Finance, compare and calculate all the costs of loan transfer. The table below mentions PNB Housing Finance home loan transfer interest rate and other home loan transfer charges of PNB Housing Finance.

PNB Housing Finance Home Loan Transfer Rates 6.99%
Processing Fees Upto 1.00%
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of PNB Housing Finance Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: PNB Housing Finance offers lower home loan rates starting at 6.99% along with Nil processing on home loans. Thus, you can save on your home loan by transferring your loan to PNB Housing Finance.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of PNB Housing Finance, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this PNB Housing Finance home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for PNB Housing Finance Home Loan Transfer

To transfer your home loan to PNB Housing Finance, you must fulfil the following eligibility criteria:

  • First, you must have an existing home loan with any bank except for PNB Housing Finance.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to PNB Housing Finance.
  • You must be an Indian resident within the age criteria of PNB Housing Finance. The minimum & maximum age to avail a PNB Housing Finance home loan takeover is 21 and 70 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use PNB Housing Finance home loan balance transfer calculator to estimate the best balance transfer offers and costs associated with it.

Process to Transfer Your Existing Home Loan to PNB Housing Finance

The home loan balance transfer process to PNB Housing Finance is smooth and quick. To transfer your existing home loan to PNB Housing Finance, you need to follow the steps as mentioned below:

  • Submit the request to transfer your home loan to your existing bank by addressing a loan transfer letter. To place a request, you would also need to ask about the transfer of title deeds and other securities to PNB Housing Finance upon receipt of the loan amount.
  • On the review of your application, your bank will issue a No Objection Certificate (NOC).
  • Submit the NOC to PNB Housing Finance and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • PNB Housing Finance will then validate the NOC, sanction your loan and pay off your dues to the existing bank.
  • Your existing bank will issue a confirmation letter stating the equitable mortgage over the property.
  • Your existing bank will close your loan account and cancel all cheques or standing instructions related to your loan.
  • Finally, your home loan transfer to PNB Housing Finance will be completed.

Document Required for PNB Housing Finance Home Loan Transfer

To avail of home loan balance transfer from PNB Housing Finance, you need to submit the following documents to PNB Housing Finance.

Documents Required Accepted Valid Documents
Application Form with Photo Application Form of Primary Borrower and Co-borrower(s)
Identity Proof
  • Valid Passport
  • Aadhaar Card
  • Driving License
  • Photo Identity card issued by Govt. body
  • Letter from a recognized public authority
Residential Proof
  • Valid Passport
  • Voter Card
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Life Insurance Policy
  • Residence address Certificate by an employer on company letterhead
Age Proof
  • Primary Borrower
  • Co-borrower(s)
Income Proof
  • Last 3 years’ Form 16
  • Last 6 months salary slip
  • Last 6 months’ bank account statement showing salary credit
Other Documents
  • Loan statement
  • List of property documents (LOD) in possession of the existing lender.
  • Last 12 months' statement of the bank account from which loan EMI is paid

FAQs

Is it good to transfer a home loan to PNB Housing Finance?

Yes, transferring your home loan to PNB Housing Finance is a good idea for home loan borrowers as PNB Housing Finance provides lower home loan rates starting at 6.99%, and minimal processing fee is Nil.

How can I transfer my PNB Housing Finance home loan from one branch to another?

To transfer your PNB Housing Finance home loan from one branch to another, you can request through net banking/mobile banking. PNB Housing Finance also allows the home loan transfer facility through phone banking by calling the home loan customer care.

Are there any charges while applying for PNB Housing Finance home loan balance transfer?

Yes, PNB Housing Finance charges home loan transfer fees. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank. As the amount will be transferred to a new bank, the processing fee will also be levied accordingly.

What are the benefits of taking a PNB Housing Finance home loan balance transfer?

If you apply for a home loan transfer to PNB Housing Finance, you can clear off your existing home loan at lower rates and save more on interest. Besides that, it can also help you avail top-up on your existing home loan.

How can I check the status of my PNB Housing Finance home loan balance transfer?

To know your PNB Housing Finance home loan status, you can call PNB Housing Finance home loan customer care number or visit PNB Housing Finance official website to check the status.


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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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