PNB Home Loan
About Punjab National Bank (PNB)
Punjab National Bank (PNB) was established in the year 1894. The bank has been operating as state-owned corporation. The bank is headquartered in the capital of the country which is New Delhi. The bank is rated as the Big four banks operating in the country. The bank operates through a solid grid of around 6300 branches and 7900 ATMs that are spread across 764 cities in India. The bank is serving and meeting the financial needs of more than 80 million happy and contented customers. Of late the bank has been awarded IBA Banking technology award and has been rated as the 248th largest bank in the world by Bankers' Almanac. The bank has constantly aimed at providing home loans to a number of Indian Lives settled across India as well as abroad.
About Home Loans at Punjab National Bank
- The bank offers home loans with fixed rate of interest therefore there is no hassle about the fluctuation in overall cost of the loans due to variation in the rate of interest with Home Loans at PNB.
- The Minimum and Maximum Home Loan that can be availed at PNB is
- 1. Minimum Home Loan: 2 Lakhs
- 2. Maximum Home Loan: 50 Crores
- EMI for the loan availed is around Rs.837 per lakh
- Apart from fixed rate of interest that the bank offers the bank also offers EMI options that are consistent for the period of 3, 5 or 10 years
- Home loans at PNB are customized as per your preference and eligibility to avail the loan.
- Home loans at PNB can not only be availed easily without a trouble but also can be paid back through number of repayment options available at PNB.
- You can avail a loan amount up to 90% of the total cost of your property.
- Attractive rate of interest upto 9.60% makes your home loan scheme even more attractive.
- You can avail services of PNB right at your doorstep by making use of Doorstep Services available at PNB.
- You can avail a home loan for a period of 30 years which is the re-payment tenure.
- PNB charges no penalty towards Pre-payment charges of your Home Loan. There are “NIL” Pre-payment charges to make a fore-closure of the home loan availed at PNB.
- You can also consider taking a Home Loan at PNB if you are tired of paying exaggerated EMIs at other banks by revisiting your home loan scheme at PNB through Balance Transfer.
- You can avail a “Home Loan Holiday Period” at PNB which means you can avail a loan for construction of your home, renovation, expansion, etc. or for whichever purpose you want to obtain home loan and payback after the completion of the purpose for which you have availed home loan or pay after 18 months from the date of sanction of the loan; whichever is earlier.
PNB Home Loan Products
- Home Purchase Loan: For purchase of a new home.
- Home Construction Loan: For obtaining finance required to construct your home on your loan.
- Home Improvement Loans: Loans for carrying out repairs, painting, tiling to provide your home a new and modern look.
- Home Extension Loans: Loans for expansion of your existing home which can be anything from adding on a room, washroom, or even a floor.
- Residential Plot Loan: For purchase of a plot bought for the purpose of construction of a home on top of the plot.
- Commercial Property Loan: For purchase of a commercial property.
- Loan against Property: Mortgaging your existing commercial or residential property for business or personal purpose.
- Lease Rental Discounting: Loan obtained against the future rent receivable.
- Loan for Real Estate Developers: loan for purchase of a land followed by the construction of house by a property developer.
Know your Eligibility to avail PNB Home Loan
- All salaried as well as self employed individuals having a regular source of income and bear a valid income proof are eligible for availing home loan at PNB.
- Eligibility to avail a home loan can be enhanced by adding on your partner or spouses, children or parents income.
- Minimum monthly of the borrower should be Rs.12,500 per month which can also be enhanced by adding on an income of your immediate relative such as children, parents, or even spouse.
Documents required to avail PNB Home Loan with ease
- Application form with photograph.
- Residence proof – Voter ID, Ration Card, Adhar Card
- Identity Proof - Voter ID, Ration Card, Adhar Card, Pan Card
- Last three months salary slip/ ITR certificate
- Proof of employment/ Business continuity proof
- Last 6 months bank statements where the salary is being deposited
- Processing fee cheque
Where can you apply for PNB Home Loans?
PNB Home loans can be applied at Letzbank. Letzbank offers best deals on Home Loans loans in town, all put together on a single window. It is easy for customers to understand various deals on Home Loan by just looking at the website. You would come to know of home loan parameters such as Loan amount, loan tenure, loan interest, advance pre-payments, fore-closure charges, processing fee and a lot more features for the ease of understanding. Apart from knowing various features of Home Loans available on website, you can also access Home Loan Eligibility Calculator for Free. Home Loan eligibility calculator will acquaint you with following features.
- Loan amount Eligibility
- Loan tenure
- Rate of interest
- Loan stages
Making use of Home Loan Eligibility Calculator will help you plan your home loan in a better manner. Once you are aware of all the key features and factors effecting your home loan submit your applications online and get a waiver on Service Fee for online applicants.