Interest Rate
PNB Housing offers floating rate of interest, linked to its benchmark rate PNBHFR: 14.35% p.a.
Processing Fees
0.5 - 1% of the loan amount
₹3000 will be retained in case of non-sanction of the loan
Max Tenure
30 years
Credit Score
Excellent (725+)
Never Bounced any EMIs but have missed card payments over a year ago
Minimum Downpayment Required
Upto 30 lacs - 10% of the property value (inclusive of stamp duty and registration charges in case of purchase of ready or under construction property
From 30 lacs to 75 lacs - 20% of the property value
Above 75 lacs - 25% of the property value
Loan Approval Before Property Selection
Yes
Documents Required
Salaried
Application with photograph
Age proof
Residence proof
Latest salary slip for 3 months
Form 16 for last 2 years
Bank statements for last 6 months
Self-employed/Professionals
Application with photograph
Age proof
Residence proof
Education qualification
Certificate & Proof of business
Last 3 ITRs along with computation of income and Profit & Loss account by a CA
Last 12 months bank statements
Property Insurance Mandatory
Yes
Typical Property Insurance Costs
0.50% of the loan amount
Pre-Payment Conditions
2% of principal prepaid for part/ full pre-payment of loan by non-individual under floating rate interest subject to source being own funds.
2% of principal prepaid fo
Loan Closure Charges
Nil
Loan Closure Conditions
Loan can be closed anytime after 6 months of first disbursal.
Rate change over Last 4 Years
-1
Closure Process
In case of death of Loan Account holder:
Request letter from the Legal Heir/ Claimant/ Nominee(s) for handover of Property documents
Letter of relinquishment for relinquishing r
Features
3, 5 and 10 years Fixed rate loans if you wish to avoid interest fluctuations.
ILLUSTRATION FOR $3,000,000 HOME LOAN for 30 Years
EMI
₹24,766
PRINCIPAL PAID
₹3,000,000
INTEREST PAID
₹4,429,891
PROPERTY INSURANCE COST
₹15,000
PROCESSING FEES
₹15,000
TOTAL FEES + INSURANCE
₹30,000
TOTAL EMI PAID ₹ 7,429,891 over 30 Years
Reason: