PNB Home Loan | Interest Rate | Eligibility | Documents Required

PNB Housing with the slogan ‘Ghar ki Baat’ is an initiative by PNB (Punjab National Bank) for the purpose of providing home loans to the people in need to purchase a home of their own. PNB, being recognized among the Big four banks of India along with the State Bank of India, Bank of Baroda, ICICI Banks is one of the most preferred banks of India.

PNB Housing is a registered Housing finance company with NHB and was incorporated under the Companies Act, 1956. The Subsidiary of PNB, holding a capital share of 51% in the company, the PNB Housing has been involved in the facility of providing financial needs like loans and deposits to the people of India.

Housing Loan through PNB Housing

There are several features or so called facilities offered by the PNB Housing. Under the Home loans section of PNB Housing, the facilities like Home purchase, home construction, extension, improvement, for the purpose of residential plots and other such are offered by the bank. With customized Home loan solutions to the people with all important simplified loan processes, and transparent loan sanctioning process, the bank is indeed one of the favorite choices of the people who are seeking home loans.

Home Loan Benefits thorough PNB Housing

PNB Housing is known for affordable housing loan schemes to the people and some of the benefits are as follows:

Huge range of Home loan products are available just as mentioned above in the form of Home purchase, home construction, extension, improvement, for the purpose of residential plots, The other benefits are,

• Huge network of branches spread across the country

• Doorstep facility

• Easy and quick loan disbursement facility

• Enhancement facility in loan amount as an added feature (in case, the prices rose up)

• Transparency in the process of Home loans

• Huge range of repayment options

Home Loan Eligibility Criteria

Regarding age, the home loan criteria is the person should not exceed above the age of 70 at the time of maturity of loan.

Home Loan Interest Rate

Just as in case of other banks, the PNB Housing has two different types of Rates of interest for home loans. One is fixed rate of interest while the other is floating rate of interest. The floating rate of interest for salaried and self employed professionals varies from 9.50% to 9.75%. The self employed non professionals has to pay an interest rate of around 9.75% to 10.45% depending on the loan tenure. While in the case of fixed rate of interest, it varies from 9.55% (as fixed for salaried and self employed professionals), while 9.80%-10.30% for self employed non professionals.

PNB Housing provides some of the additional features which help the loan seekers in better judgment of theirs. The features like Home loan calculator and legibility calculators are one of them. With the quick and easy option to use, these calculators, gives an insight on the Home loan and its approvals. Just visit PNB Housing for the better deals for Home loans.