PNBHFL Loan Against Property – Get Details on Property loan Interest rates, Documents, Eligibility and other charges by PNB HFL (Punjab National Bank Housing Finance). PNB HFL loans against property for end use of towards expansion of home, Foreign travels, Personal requirements, Education, Sister marriage, Daughter marriage, Family functions, Medical expenses, High cost consumer durables etc. PNB HFL offers instant 3 minutes approval deal on LAP.
Eligibility criteria for PNBHFL:
✓ You should either be a salaried employee or a self-employed professional/ non-professional.
✓ Your age should not be more than 60 years if you are a salaried employee and not more than 65 years if you are a self-employed professional/ non-professional, at the time of loan maturity.
PNBHFL Loan Against Property Interest Rates 2020
|Non Home Loan Product||Interest Rates|
|Loan against Residential Property||9.80%to 10.25%|
|Loan against Commercial Property||9.90% to 10.35%|
|Loan against Plot (residential/commercial)||10.75%|
|Loan for purchase of non-residential property||9.80% to 10.25%|
|NRPL – unnati||12.00%|
* The above rates of interest are subject to change at the sole discretion of PNB Housing
Maximum loan amount would be 50% of the market value of the property as certified by PNBHFL’s approved valuer or repayment capacity of the customer, 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 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 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 for the Loan Against Property.
|Salaried Employees||Self Employed/Professionals|
|Duly filled Application Form with Photograph||Duly filled Application Form with Photograph|
|Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)||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)||Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)|
|Education Qualifications – Latest Degree||Education Qualifications – Latest Degree (for professionals)|
|Latest Salary-slips for 3 months||Certificate & Proof of business existence along with Business Profile|
|Form 16 for last 2 years||Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant|
|Last 6 months Bank Statements(salary account)||Last 12 months Bank Account Statements (self & business)|
|Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’||Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’|
|Photocopy of Title Documents of the Property, Approved Plan||Photocopy of Title Documents of the Property, Approved Plan etc.|
All documents need self-attestation.