Pnb Flexible Housing Loan Scheme

This variant provides the borrowers advantage of substantial savings on the interest component on account of facility to:

• Deposit their surplus funds in the overdraft account; and
• Withdraw the same at their choice as per their needs

Eligibility

Customers who are below the age of 50 years and existing Housing loan borrowers who have availed loan under our Housing Loan scheme for public subject to fulfillment of all terms & conditions of this variant :

Purpose

For all purposes as per details described under Housing Finance scheme except for purchase of land/plot.

Nature Of Facility

Term Loan – 80% and overdraft 20%

Extent Of Loan

First enhancement allowed after 3 years, Overdraft limit can be enhanced maximum upto 50% of the total loan amount sanctioned. Extent of enhancement equal to reduction in Term Loan Amount.

Borrowers are entitlement for 20% increase in the original total limit sanctioned after a lapse of five years.

Enchancement(s) is/are for personal needs is/are allowed in the shape of a separate Overdraft limit.

Margin

Term Loan – 20% and Overdraft – 25%:

Repayment

Term Loan component: As per Housing Loan Scheme for Public.

Overdraft component:

• For Borrowers below 55 years: Servicing of Interest as and when charged i.e. on Monthly Basis.
• For 55 years and above: On monthly reducing drawing power maximum upto the age of 70 years.

Processing Fees for PNB Home Loan