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

 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