PNBHFL NRI Home Loan – Interest Rates 2024, Eligibility, Documents, Apply
Apply for NRI Home loans with Punjab National Bank housing finance ltd. Get free instant quotes on eligibility, Fees, Charges, Documents & Repayment Schedule. With over two decades of specialised experience in housing finance, PNBHFL offers a wide range of home loan products to NRIs (Non Resident Indians) and PIOs (Person of Indian Origin) for purchase, construction, repair and renovation of a residential property in India. Ease of applying for a loan with branches spread across India, robust service delivery model and mark to market credit & financial policies help customers build a long term relationship of trust and commitment.
| Read More About |
| Documents List |
| Eligibility |
| Repayment |
Advantages of taking NRI Home Loan from PNBHFL
- Pan India branch network
- Robust service delivery model – door step services ensuring easy and fast approval & disbursal of loans
- Excellent post disbursement services
- Facility of enhancement in loan amount in the event of escalations in cost
- Dedicated team of well-experienced employees who work on best-in-class information systems & network to deliver and provide customer satisfaction
- High standards of ethics, integrity and transparency
- Various repayment options
Click to Know – PNB Housing Loan Interest Rates
Post the fixed rate period, interest rate would automatically get converted into floating rate prevailing at that time for the residual loan amount.
*Rates of interest are subject to change at the sole discretion of PNB Housing.
Eligibility Criteria for PNBHFL NRI Home loans:
- You should be an Indian citizen or a Person of Indian Origin (PIO) holding an Indian passport with status of NRI on deputation/ employment/ assignment.
- You should be working for atleast one year in a foreign country before seeking a house loan. The condition of minimum service over one year shall not apply to people going abroad on deputation.
- Your age should not be more than 60 years at the time of loan maturity.
Loan Amount:
- Maximum Loan amount would be 80% of the purchase price of property or loan eligibility whichever is lower.
- Loan eligibility shall be determined by PNBHFL taking into account income, age, qualification and occupation etc.
- Income of borrower(s)/ co-borrower(s) may be clubbed together for calculation of loan eligibility.
Security:
Security for the loan is a first charge by way of an equitable mortgage of the property to be financed and/or such other collateral securities as may be deemed fit by PNBHFL.
Additional/ interim security may be required as acceptable to PNBHFL.
Loan Repayment:
Loan repayment is in Equated Monthly Installments (EMI) comprising of principal and interest through Post Dated Cheques/ Electronic Clearance System over a maximum period of 15 years in case of home purchase/ construction and 10 years in case of home improvement.
Documents Requirement for Punjab National Bank Housing Finance Ltd NRI Home Loans
| Salaried Employees |
|---|
| Duly filled Application Form with Photograph |
| Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) |
| Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) |
| Education Qualifications – Latest Degree |
| Copy of Passport/ PIO Card |
| Copy of Work Permit if applicable |
| Latest three Salary-slips |
| Appointment letter of current employer |
| Last two year’s income statement from employers |
| Last 6 months Bank Statements (evidencing salary credits) |
| Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’ |
| Photocopy of Title Documents of the Property, Approved Plan etc. |
| Detailed Cost Estimate from an Architect/ Valuer in case of Construction/ Renovation |
All documents need self-attestation.
