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PNB Housing Finance Loan Against Property

PNB Housing Finance Mortgage Loan Interest Rates 2021

Last Updated 09th Jul 2021

PNB Housing Finance is one of the largest HFC in the country that offers the lowest rates on loan against property. Currently, the bank offers loans starting from 9.50% with quick approval and online process. The bank offers special features and attractive rates for different income and occupation groups. Some of the key features of PNB Housing Finance Loan against property are mentioned below: Check Best Offers

Processing Fee Upto 0.75%
Max Tenure 20 years
Lowest EMI ₹ 932 per lakh
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed

    Online sanction facility in lockdown

    Apply for Loan Against Property @ 7.20%* Get upto ₹ 1,000* Cashback Get Online Sanction in Lockdown Period

    PNB Housing Finance Loan Against Property

    PNB Housing Finance offers loan against property to meet your business as well as personal needs against the mortgage of your existing residential or commercial property. Taking a loan from PNB Housing Finance has the following benefits:

    • Online sanction facility in lockdown
    • High loan amount eligibility
    • PAN India presence
    • Affordable interest rates
    • Online sanction facility in lockdown

    PNB Housing Finance Loan Against Property Fees and Other Charges

    Along with PNB Housing Finance Loan against Property Rates, PNB Housing Finance also charges various fees and charges when a borrower takes a loan against property:-

    • Processing Fee on PNB Housing Finance LAP Loan is 0.75%. This fee is charged by PNB Housing Finance to maintain the applicant’s loan account and to process the loan application.
    • Advocate's fee for property search and title investigation report.
    • Valuer's fee for valuation report.
    • Stamp duty payable for Loan agreement and mortgage.
    • Property insurance premium.
    • CERSAI Registration Fee of ₹ 50 + GST up to ₹ 5 Lakh limit and ₹ 100 + GST for limits above ₹ 5 Lakh.

    Loan Against Property Interest Rates in PNB Housing Finance for Salaried Employees

    The mortgage loan interest rates in PNB Housing Finance for salaried employee are listed in the table:-

    Interest Rate for Salaried for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 9.50%
    ₹ 30 Lakh - ₹ 75 Lakh 9.50%
    ₹ 75 Lakh - ₹ 1 Cr 9.50%
    Above ₹ 1 Cr 9.50%

    Interest Rate for Salaried for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 9.50%
    ₹ 30 Lakh - ₹ 75 Lakh 9.50%
    ₹ 75 Lakh - ₹ 1 Cr 9.50%
    Above ₹ 1 Cr 9.50%

    PNB Housing Finance Property Loan Interest Rate for Business Man or Self Employed Person

    The interest rate for mortgage loans for Self-employed people are listed in the table:

    Interest Rate for Self-Employed for Residential Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 9.50%
    ₹ 30 Lakh - ₹ 75 Lakh 9.50%
    ₹ 75 Lakh - ₹ 1 Cr 9.50%
    Above ₹ 1 Cr 9.50%

    Interest Rate for Self-employed for Commercial Property

    Loan Amount Rate
    Upto ₹ 30 Lakh 9.50%
    ₹ 30 Lakh - ₹ 75 Lakh 9.50%
    ₹ 75 Lakh - ₹ 1 Cr 9.50%
    Above ₹ 1 Cr 9.50%

    Steps to Apply for PNB Housing Finance Loan Against Property

    You can apply for PNB Housing Finance Loan against property through online as well as offline modes. To apply for a loan through offline mode, you need to visit the official PNB Housing Finance bank branch and fill the application form along with the required documents for loan against property. The bank will then complete the verification process and will sanction the loan on loan approval. Once the loan is approved, you will receive the amount in your bank account.

    To apply online for PNB Housing Finance Loan against Property online, you need to follow these steps:-

    • Visit the official website of PNB Housing Finance and navigate to Loan Against Property.
    • Before applying, now check your eligibility for PNB Housing Finance Loan against Property.
    • Check various details about the loan, such as interest rates and other charges.
    • If you are satisfied and have cross verified all the details, fill the application form and upload the required documents.
    • On successful verification, the bank will sanction the loan amount in 10-15 days.

    Apart from that, you can also visit online marketplaces like MyLoanCare to apply for a PNB Housing Finance Loan against property. Here, you can compare offers PNB Housing Finance with other top banks and can use the EMI and Eligibility calculators to plan your expenses and loan repayments. PNB Housing Finance Loan against property application process at MyLoanCare is hassle-free and transparent.

    Compare PNB Housing Finance Loan Against Property Interest Rate with Top Banks

    PNB Housing Finance offers multiple schemes for loan against property at affordable interest rates. However, you must compare SBI and other bank’s home loan rates before applying:-

    Interest Rate 9.50% - 10.65% 8.80% - 9.30% 8.75% - 9.90%
    Processing Fees Upto 0.75%
    Upto 1.00%
    Max ₹ 50,000
    Upto 0.75%
    Loan Tenure 20 Years 15 Years 15 Years
    Maximum Loan Amount ₹ 5 Cr ₹ 7.50 Cr ₹ 5 Cr
    Age Min 21 and Max 65 years Min 18 and Max 70 years Min 24 and Max 65 years
    Benchmark Rate PLR RLLR PLR
    Lowest EMI Per Lakh ₹ 932 per lakh ₹ 1,002 per lakh ₹ 999 per lakh
    PNB Housing Finance Floating Rate on Loan Against Property

    As on 24 Jul, 2021, PNB Housing Finance offers the lowest rate starting at 9.50%. PNB Housing Finance Loan against property rates have been dropped by 0.3%, from the earlier rate of 9.80% with effect from 05 Jul, 2021.

    PNB Housing Finance Mortgage Loan Interest Rates
    PNBHFL Loan Against Property Floating 9.50%
    PNBHFL Loan Against Property Floating
    Loan AmountCurrent LAP Rates
    Upto ₹ 30 Lakh 9.50%
    ₹ 30 Lakh - ₹ 75 Lakh9.50%
    ₹ 75 Lakh - ₹ 1 Cr9.50%
    Above ₹ 1 Cr 9.50%

    PNB Housing Finance Fixed Rate Loan Against Property

    Product Interest Rates
    PNBHFL Loan Against Property Fixed 9.50%

    PNB Housing Finance Loan Against Property Rate Trends of Last 1 Year

    Last Updated Date Interest Rates
    05 Jul, 2021 9.50%
    01 Apr, 2021 9.50%
    31 Mar, 2021 9.50%
    02 Mar, 2021 9.50%

    Factors Affecting PNB Housing Finance Loan against Property Interest Rates

    Some of the factors that impact PNB Housing Finance Loan Against Property rates are listed as follows:

    • Loan amount: Property loan rates in PNB Housing Finance depend upon the loan amount you apply. You can get a minimum loan of ₹ 20 Lakh from PNB Housing Finance.
    • Your Net Monthly Income: Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.
    • Type of loan opted for: PNB Housing Finance offers differential rates for customers different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.
    • Type of property: Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.
    • Your profession: PNB Housing Finance may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman. A self employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

    PNB Housing Finance Loan Against Property Eligibility Criteria

    PNB Housing Finance has detailed criteria to determine a potential borrower’s eligibility for mortgage loans. Some of the key criteria are:

    Eligibility Criteria Details
    Age 21 to 60 years
    Minimum Income ₹ 20,000
    Loan Amount ₹ 20 Lakh to ₹ 0 Cr
    Minimum years of business existence 2 years
    Minimum work experience 3 years
    Minimum Credit Score 650 and above
    Loan to Value Ratio Upto 50%
    FOIR (Fixed Obligations to Income Ratio) 0.65

    PNB Housing Finance Mortgage Loan Interest Rate and EMI Calculator

    You can also use an online PNB Housing Finance Loan against property EMI Calculator to calculate loan EMIs. EMI is a fixed amount that you are required to pay each month towards the repayment of your loan till the end of tenure

    • The PNB Housing Finance Mortgage Loan EMI calculator helps you calculate your monthly EMI at different rates of interest and check and compare the lowest EMI per lakh on LAP.
    • You can compare the estimated EMI with your monthly repayment capacity to decide on a level of EMI you can comfortably service without creating financial burden.
    • Loan tenure matters equally as higher loan tenure reduces your EMI.
    • Another factor that affects your EMI is the loan against property interest rate. Higher the interest rate, higher will be the EMI. However, your cumulative interest outgo will be significantly higher in a longer tenure loan than a short tenure loan. Loan against property interest rate comparison of different banks will allow you to choose the cheapest loan and hence, improve your eligibility.
    Loan Against Property Top up, Transfer in PNB Housing Finance

    PNB Housing Finance offers mortgage loan balance transfer from another bank, subject to your meeting other eligibility criteria of PNB Housing Finance at an affordable interest rate, higher loan amount and convenient loan tenure. PNB Housing Finance loan against property balance transfer helps you make your loan repayment convenient and opt for a beer customer service. Current loan against property balance transfer rates in PNB Housing Finance are 9.50%. Along with that, you can also avail of additional top-up on your loan against property.

    Loan Against Property PNB Housing Finance Products

    PNB Housing Finance offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    Loan Against Lease Rental Discounting

    • Get up to 80% of the total future rent receivable as a loan against lease rental discounting.
    • Loan against lease rental discounting can be availed for business needs such as the expansion of business, working capital needs etc.
    • Property owners who have rented their property to Bank, Multinational Company, AA* or AAA* Rated Corporate and Government/ Semi-Government Undertakings are eligible to take a loan against rental discounting.
    • If you have a property in metro/ urban/ semi-urban areas and rented to someone, you can avail loan against future rent receivable.

    Mortgage Loan for Personal Use

    • Get upto 60% of the value of your property as approved by PNB Housing’s approved valuer or repayment capacity of the customer, whichever is lower.
    • You can avail mortgage against a commercial or residential property for personal needs such as travel, education, medical expenses, wedding etc.
    • A salaried employee should not be more than 60 years to avail a mortgage loan for personal use.
    • Self-employed professionals above the age of 65 years cannot take mortgage loan against property.
    • Salaried and self-employed professional/ non-professionals can avail a mortgage loan for personal use.

    Loan Against Property for Business Use

    • Get upto 70% of the value of the property as a loan against property based on your income, age, qualification and occupation.
    • You can take a loan against property for buying equipment for business, expanding business or for working capital needs.
    • Partnership firms and corporate bodies should have at least existence for three years.
    • Loan against property for business use can be availed by salaried employees/ self-employed professionals/ non-professionals.

    PNB Housing Finance Loan Against Property Documents Required

    For Self-Employed

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 3 years
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
    For Salaried employee
    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 0 years
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
    Property documents
    • Registered Sale Deed/ Conveyance/ Lease Deed
    • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
    • Latest House Tax Return/ Receipt
    • Approved Building Plan from Municipal Corporation

    FAQs

    What is PNB Housing Finances loan against property interest rate?

    PNB Housing Finance offers loan against property at a rate of 9.50% with the lowest EMI of ₹ 932. If you are currently paying a higher interest rate than PNB Housing Finance rate, you can opt for a balance transfer of loan to PNB Housing Finance.

    Did PNB Housing Finance Loan against property rates drop?

    Yes, PNB Housing Finance loan against property rates has decreased by 0.3% from the previous rate of 9.80% to 9.50%. The lowest mortgage rates of PNB Housing Finance are effective from 05 Jul, 2021.

    How to increase my eligibility on PNB Housing Finance Mortgage loan?

    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get a loan.

    Can I foreclose my Mortgage loan? What are the charges applicable?

    Yes, you can foreclose your PNB Housing Finance loan against property anytime you want with 3% foreclosure charges.

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

    PNB Housing Finance offers a maximum tenure of 20 years to repay your loan.You can choose the tenure for your LAP loan as per your convenience and repayment ability.

    What is the benchmark rate applicable for Mortgage loan?

    The benchmark rate applicable for property loans in PNB Housing Finance is PLR

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

    Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to PNB Housing Finance offers you to pay lower EMIs and save money and enables you to choose better customer service, if you are not satisfied with your existing bank. Current Balance transfer rates in PNB Housing Finance are 9.50%.

    What is PNB Housing Finance mortgage loan processing fees?

    The loan processing fee charged is 0.75% of the total loan amount.

    What security do I need to provide for PNB Housing Finance Mortgage Loan?

    PNB Housing Finance requires a registered mortgage of the property against which the bank will provide you a loan.

    • Property on which you intend to take loan is not vacant land, has an approved map plan and is in a municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
    • Your total EMIs on all loans and credit cards (from PNB Housing Finance and other banks) are no more than 60 - 70% of your net monthly income.
    • You have not defaulted on loans or credit card dues to PNB Housing Finance and other banks and all EMI's have been paid. Note that PNB Housing Finance can see the record or status of your EMI defaults to all banks and NBFC’s in India and not just to PNB Housing Finance in your CIBIL report. Estimate your CIBIL score for free for free by using CIBIL score estimate calculator
    • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan application
    • If you are self employed, your business must have been in existence for at least three years and last three income tax returns with audited financial must be available

    Are prepayment or foreclosure charges applicable on PNB Housing Finance loan against property?

    You can prepay loan against property (LAP) without any penalty or charges in case:

    • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
    • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

    PNB Housing Finance Loan Against Property Reviews 4.2/5  by 19 customers
    MyLoanCare Service
    4.2/5.0
    Banks Service
    4.1/5.0
    M S Chakravarti, Hyderabad
    Reviewed on 25th Jan 2021
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Oct 2020

    My LAP loan sanctioned in super fast time. Excellent service.Read more...

    ravi verma, Ludhiana
    Reviewed on 17th Mar 2020
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Mar 2020

    Services were excellent and quick. I will surely recommend the same to my friends also.Read more...

    Gopinath M V, Chennai
    Reviewed on 03rd Feb 2020
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Jan 2020

    I applied for a loan through MyLoanCare. Mr.Nitin was my executive and I am happy with the overall eRead more...

    RAJ RANGARAJ, Bangalore
    Reviewed on 25th Nov 2019
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Sep 2019

    Thanks for helping me get a loan from PNB.Read more...

    Ranatosh Saha, Kolkata
    Reviewed on 04th Sep 2019
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Aug 2019

    The service was very satisfying, excellent response from both the side. Will refer to my friend.Read more...

    Shashank aggarwal, Delhi
    Reviewed on 08th Mar 2019
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Jan 2019

    Very helpful employees and they give proper guidance and loan was also given at very good interest rRead more...

    RESHMA K S, Bangalore
    Reviewed on 20th Dec 2018
    3 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Dec 2018

    It was a good experience. Bank staff was cooperative.Read more...

    katre ganesh, Surat
    Reviewed on 11th Dec 2018
    5 / 5 stars
    PNB Housing Finance Loan Against Property Availed in Nov 2018

    It is all excellent. The experience with the bank and banker was awesome. Excellent work MyLoanCare.Read more...

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    PNB Housing Finance Loan Against Property News - Jul 2021
    • 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%.
    • 2021-07-05 : PNB Housing Finance - LAP interest rates revised
      PNB Housing Finance revised its interest rates on Loan Against Property. With effect from July 01, 2021, the ROI is 9.50%-10.65%, while the processing fees is kept at 0.75% of the loan amount.
    • 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.
    • 2019-08-01 : PNB Housing Finance to focus on retail loans in FY20
      One of the leading housing loan providers, PNB Housing Finance is planning to focus on retail loans, including home loans and loans against property in FY20. As per the sources, their retail disbursements have shown a positive trend in Q1 and is further expected to witness steady growth ahead.
    *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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