Product Details
Bank Name
PNB Housing Finance Limited
Maximum Loan Tenure
30 years
Maximum Loan Amount
Uncapped.
Interest Rate
For loans upto INR 35 Lakh. For salaried professionals: Interest rate ranges from 8.8% (Cibil 825 +) to 10.65% (Cibil less than 170). For self-employed: Interest rate ranges from 8.8% (Cibil 825 +) to 11.05% (Cibil less than 170). For loans above INR 35 Lakh. For salaried professionals: Interest rate ranges from 8.5% (Cibil 825 +) to 10.85% (Cibil less than 170). For self-employed: Interest rate ranges from 8.8% (Cibil 825 +) to 11.25% (Cibil less than 170).
Type
Floating
Down Payment
LTV Ratio depends upon the loan amount i.e. for lower value loans (upto 30 Lakhs) LTV Ratio may be allowed upto 90% of the estimate construction cost. Which means you need to make down payment of only 10% of the total cost.
Fees and Charges
Processing Fee: 1% + GST of the total loan amount.
Prepayment Charges: NIL in case the property is in the name of the individual.
Penal Interest: 24% on unpaid amount.
Legal Fee: At actual.
Stamp Duty And Registration Charges: At actual.
Minimum CIBIL Score
611.
Down Payment and Fees
Home Extention Loan
Special Features
No prepayment penalty.
Eligibility Criteria
For salaried professionals:
Age: All salaried applicants must be above the age of 21 years at the time of commencement of loan. Additionally, your age should not exceed 70 years at the time of the maturity of the loan.
Residency: You should be a permanent resident of India.
Work experience: You should have a minimum work experience of 3 years.
Salary: Minimum salary required INR 15,000 per month or more
Loan amount: INR 8 lakh onwards
Tenure: Up to 30 years
LTV: Up to 90%
Required Credit Score: 611+
For self-employed/ businessman
Age: Applicants should be 21 years or above at the time of applying for a home loan. Age should not exceed 70 years at the time of home loan maturity.
Residency: You should be a permanent resident of India.
Work Experience: You should have at least 3 years of business continuity.
Loan Amount: INR 8 Lakh onwards.
Tenure: Up to 20 years.
LTV: Up 90%
Additional: You apply for income tax returns.
Credit Score: *Minimum credit score of 611 is needed to apply for a Home Loan.
Special Concession
No special concession.
Home Saver Option
No.
Features, Eligibility and Concession
Pros
Nil prepayment charges
Low interest rate.
No upper cap on loan amount.
Low downpayment - for lower amount home extension loan upto 90% of the cost will be funded by PNBHFL.
Cons
No home saver option.
High penal interst in case of delay in EMP payment. 24%.
Pros & Cons
Application Procedure
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