PNB Housing Finance Plot Loan

PNB Housing Finance, the leading HFC bank in the country, offers a unique home loan product. If you want to purchase a plot for investment purposes, construct a dream home, construct one's desired personal space, or conduct agricultural activities on that loan, PNB Housing Finance can provide you a loan for land purchase. PNB Housing Finance plot loans can be availed by you, even if you are salaried or self-employed, provided you have a good credit score. However, to avail of the plot loan PNB Housing Finance, you need to meet the required eligibility factors. You can avail of the loan for a maximum period of 30 years, which may differ based on the loan amount needs and repayment ability. Currently PNB Housing Finance plot loan interest rate ranges between 8.35% to 9.75%.

Lowest PNB Housing Finance plot loan rate is 8.35%, as applicable based on the PLR. Any change in repo rate will translate into a similar change in the bank’s land loan rate. PNB Housing Finance’s interest rates on loan for land purchase depend upon the loan amount, your salary and occupation and nature of the property.

Loan Amount	Rate	Rate for Female Borrower	Rate
Upto ₹ 20 Lakh	8.35%	N/A	N/A	8.35%
₹ 20 Lakh - ₹ 50 Lakh	8.70%	N/A	N/A	8.70%
₹ 50 Lakh - ₹ 75 Lakh	8.70%	N/A	N/A	8.70%
Above ₹ 75 Lakh	8.70%	N/A	N/A	8.70%

Features of PNB Housing Finance loan for plot purchase are listed as follows:

• Loan to Value Ratio: The LTV ratio or Loan to Value ratio in case of a PNB Housing Finance plot loan is comparatively lower. PNB Housing Finance offers a plot loan upto 70% of the cost of the property. However, your risk is also an important feature for the LTV ratio in the case of PNB Housing Finance plot loan.
• Property Type: Site loan in PNB Housing Finance exclusive to some properties. When you plan to opt for a PNB Housing Finance land loan, you need to ensure certain things, for instance, the land must be located within the municipal limits. Further, it should not be located in an area that is under conflicts regarding authorizations or previous ownerships.
• Loan Tenure: The time period for which you can avail a PNB Housing Finance land loan is comparatively lower than that of a home loan. It may be borrowed for a maximum amount of 30 years which may vary across your repayment ability.

Some of the benefits of availing PNB Housing Finance Land loan are:

• Tax Benefits: A plot loan may not provide any tax benefit when availed on its own. However, if you avail PNB Housing Finance plot and construction loan,you may enjoy a tax benefit on the construction loan.
• Specific to borrower's need: Through PNB Housing Finance land purchase loan, you can design and create your own space as per your needs. Thus, a plot loan caters to the needs of the borrowers in comparison to an already constructed home.PNB Housing Finance plot loan thus helps you fulfil your needs more than an already constructed home.
• Affordable: Another key benefit of PNB Housing Finance plot loans is that it is very affordable in nature.PNB Housing Finance charges NIL processing fee at plot loans. Further, the prepayment penalty is very low at Nil. It is even NIL in case of floating rate loans for individuals

• The age of the borrower should not exceed 70 years at the time of loan maturity.
• The loan can be taken by both salaried and self-employed people.

In order to avail of a PNB Housing Finance plot loan, you need to meet the documentation requirements. The required document for a plot loan PNB Housing Finance are:

• Identity and address proofs: PNB Housing Finance requires you to submit identity and address proofs such as Aadhar Card, PAN card, passport, driving license, Voter ID card, ration card, rent agreement.
• Utility bills: Telephone, electricity bill, water bill, etc are some utility bills required to avail PNB Housing Finance site loans.
• Bank documents: PNB Housing Finance requires copies of bank statement and passbook
• Salary documents: Salary slips, ITR returns and qualification certificates in case of self-employed professionals are also required.
• Others: In addition, PNB Housing Finance may ask for Sale Deed or Sale purchase agreements

The features of PNB Housing Finance Residential Plot Loans are mentioned below:

• PNB housing finance provides loans for the purchase of land in an urban area through its Residential Plot loan product.
• You can avail Plot Loan from PNB Housing Finance for upto 90% of the value of the property and LTV varies based on the loan amount. For instance, for a loan upto Rs 20 lacs, you can avail upto 90% of the property value. For loan amount ranging from 20 lakhs and above, upto 75 lakhs and above Rs. 75 Lakhs, LTV is 80% and 70% of the market value, respectively.

✅How long will it take for PNB Housing Finance land loan approval?

PNB Housing Finance land loan is approved after meeting the required eligibility conditions and fulfilling the documentation requirements.You can even get instant approvals on plot loans through the online application portal of PNB Housing Finance.

✅What is the interest rate of a plot loan in PNB Housing Finance ?

The interest rate of PNB Housing Finance plot loan ranges between 8.35% to 9.75 % . The rate may further vary between this range based on your eligibility and PNB Housing Finance plot loan requirements.

✅What is the processing fee for PNB Housing Finance land loans?

The processing fee for PNB Housing Finance land loan is Upto 0.50% . This however is subjected to change as per PNB Housing Finance’s terms and conditions.

✅Can I get a loan on land purchase from PNB Housing Finance ?

Yes, you can get a loan for land purchase from PNB Housing Finance through the Residential Plot Loans . PNB housing finance provides loans for the purchase of land in an urban area through its Residential Plot loan product.

✅Can self-employed people avail PNB Housing Finance Plot loan?

PNB Housing Finance plot loan can be availed by salaried and self-employed people who have a decent credit track record with a good credit score of above 650. Apart, you must show proof of a good income and occupation stability to avail land purchase loans PNB Housing Finance.

✅Can PNB Housing Finance Plot loan Interest rate be negotiated?

Yes, you can negotiate PNB Housing Finance Plot loan Interest rates 2021 if you have a good existing relationship with the Bank and fulfil other eligibility criteria such as good CIBIL Score, repayment capacity etc.

✅At what Interest rate does an PNB Housing Finance employee get a Loan for land purchase?

PNB Housing Finance employee can get a concessional rate on loan for land purchase, which is lower than the regular PNB Housing Finance Plot Loan Interest Rates of 8.35%.

✅Does PNB Housing Finance provide a specific PNB Housing Finance Agriculture Land Loan?

Yes, you can avail PNB Housing Finance Agriculture Land Loan for a maximum of 85% of the cost of the land as assessed by the Bank.