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PNB Home Loan

PNB Home Loan

 

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Member's Recomendation

10   2

10 review(s)
Expert Review | Write a Review

  • Interest Rate
  • 11% Floating rate, >30 lakh to< 75 lakh for 20 yrs
  • Pre payment charges
  • 2%
  • Balance Transfer Charges
    (incase of refinance)
  • 2%
     
  • Part-payment Charges
  • Nil
  • Switching Charges
    (Fixed to Floating or vice-a-versa)
  • Nil
     
  • Loan to Value ratio
  • 75%
  • Speed of Sanction
  • 7 working days
  • Ease of documentation
  • Pre- Approved projects only. Less Documentation
  • Customer Service
  • Good
  • Franking Charges
  • 0.2%

Features and Benefits of PNB Home Loan

 

Features

  • Bank offers home loan under both Floating & Fixed category.
  • Housing finance facility is available for construction or purchase of new/old house/flat/plot
  • Maximum loan repayment period for construction/purchase of house/flat is 25 years or when borrowers attain the age of 65 years whichever is earlier.
  • Maximum moratorium period to start home loan EMIs is 18 months
  • Maximum amount for home loan available is 75% of the value in purchase of house/flat.
  • Maximum loan available up to Rs 20 lakh for purchase of land/plot

 

 Eligibility

  • Any individual having regular source of income with age 18 to 65 year is eligible to apply for a home loan.
  • Income of spouse or children can also be added.

Charges:

  • Loan processing charges: For loan amount up to 3 crore is 0.50% of the loan amount max. of Rs 20000 + taxes & for loan above 3 crore 0.90% of the loan amount + taxes
  • Documentation charges:Rs 1350/- + taxes
  • Prepayment charges: Nil when loan is repaid by the borrower on his own from his own funds, or when the borrower shifts to some other bank after increase in interest rate within 30 days.2% in case of when the loan is repaid by some other financial institution or banks

Interest Rate

  • Lending rate structure is that interest rate for home loan can be fixed or floating. Floating rate varies with BPLR & Base Rate.
  • Currently the base rate is 10% and BPLR is 13.50% with effect from 05.05.2011
  • Currently loan is available as per floating rate

 

Loan Amount

Upto 5 yrs

Above 5-10 yrs

Above 10-15 yrs

Above 15-20 yrs

Above 20-25 yrs

Upto 30 lakh

10.5

10.75

10.75

11

11

Above 30 lakh to < 75 lakh

11.25

11.5

11.5

11.75

11.75

75 lakh & Above

11.5

11.75

11.75

12

12

 

 

 

 Documentations:

 Salaried Individual

  • Application form with recent photograph
  • Salary slip of last 3 months
  • Latest Form 16
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • Proof of age (any one) : Passport/Voter's ID/PAN card/' Birth certificate/life insurance policy or premium receipt Signature verification proof
  • Repayment track record of existing loans/Loan closure letter

   Self-Employed

  • Application form with recent photograph
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of age (any one) : Passport/Voter's ID/PAN card/'Birth certificate/life insurance policy or premium receipt
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • P&L and balance Sheet for last 2 years certified/audited by CA
  • Qualification proof of the highest professional degree
  • Proof of existence
  • Income Tax return/Computation of total income/Auditor's Report Balance sheet/Profit and loss account for last 2 years certified by CA
  • Repayment track record of existing loans/Loan closure letter
  • Proof of office address
  • Board Resolution in case of company

Documents Required for PNB Home Loan

Salaried Individual
  • Application form with recent photograph
  • Salary slip of last 3 months
  • Latest Form 16
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • Proof of age (any one) : Passport/Voter's ID/PAN card/' Birth certificate/life insurance policy or premium receipt Signature verification proof
  • Repayment track record of existing loans/Loan closure letter
Self Employed
  • Application form with recent photograph
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of age (any one) : Passport/Voter's ID/PAN card/'Birth certificate/life insurance policy or premium receipt
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • P&L and balance Sheet for last 2 years certified/audited by CA
  • Qualification proof of the highest professional degree
  • Proof of existence
  • Income Tax return/Computation of total income/Auditor's Report Balance sheet/Profit and loss account for last 2 years certified by CA
  • Repayment track record of existing loans/Loan closure letter
  • Proof of office address
  • Board Resolution in case of company

Expert Review of PNB Home Loan

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User Reviews

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Average user rating

  • Pricing
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  • Member's Recomendation

Impressive loan from Punjab National Bank

By: Anand, Chandigarh | 11 November 2009

punjab national bank interest rates for home loans are vey impressive. The bank is really good but they need to improve on one thing for sure is the time taken for approving your home loan. you need t...[Read]

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Trust PNB

By: Tapan, Kolkata | 09 November 2009

The most successful Bank in INDIA in tems of service, dependibility, faith what not and what not. I have shifted my home loan from ICICI to PNB and feel like I am saved from the clutches of Demon. Tha...[Read]

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interest rates are less and thanks to customer friendly staffs

By: Vikas Kamra, Mumbai | 19 April 2010

interest rates are less and thanks to customer friendly staffs i was able to complete the formalities and get the sanction in a very short time. ...[Read]

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I feel these public sector banks are really improving

By: priya, Kolkata | 18 April 2010

Very good bank. Punjab National Bank has staff which is very courteous and treat customers nicely. They have solved all my queries with regards to home loan. I feel these public sector banks are reall...[Read]

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their staff is rude and are themselves ignorant about their products

By: Manjeet, Mumbai | 17 April 2010

Plz dont take home loans from punjab national bank. their staff is rude and are themselves ignorant about their products. i went to apply for home loan and seeing that i am a potential customer they s...[Read]

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Their interest rates are really impressive.

By: neeta, Mumbai | 15 April 2010

Punjab national bank is a good bank. Their interest rates are really impressive. also their processing charges are less compared to other private banks. I feel public sector banks like punjab national...[Read]

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owner

By: mohinder, India | 27 October 2010

if we pledge the property for home loan the age is 78 years is this ok for quailyfy the loan in the age matter please e mail methank you ca usa...[Read]

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devendra prasad ojha

By: devendra prasad ojha, India | 18 June 2010

for home lone...[Read]

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good bank for home loan

By: papeji, India | 23 September 2010

good bank for home loan...[Read]

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worst service

By: john, India | 27 September 2011

worst service...[Read]

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