Due to the availability of various lenders in the financial sphere, obtaining a home loan seems to be a difficult task for many aspiring homeowners. However, one could easily acquire substantial funds at an affordable interest rate and flexible repayment terms from a PNB Housing home loan.
One of the most reliable housing finance companies, PNB Housing follows a secure and transparent loan process. Packed with fast processing and quick disbursal feature, the bank offers a wide array of home loans to its customers such as:
- Home Purchase loan
- Home Construction loan
- Home Improvement loan
- Home Extension loan
- Residential Plot Loans
- Loan for NRIs
- Unnati Home Loans
Features of a PNB Housing Home Loan
- PNB home loans are offered up to 90% of the market price of the property.
- The maximum tenure of a home loan can be 30 years along with a flexible repayment structure.
- PNB Home loan is offered at an attractive interest rate based on the borrower’s income, credit score, loan amount, and loan type.
- PNB Housing also provides instant home loans which can be availed in 3 minutes.
- One can also calculate the EMI amount easily and accurately through the PNB Housing Home loan calculator freely available on its official website.
- The borrower can also avail of Income Tax benefits on the home loan.
Eligibility for a PNB Housing home loan
While PNB home loan is offered to both salaried as well as self-employed individuals, one must fulfill certain eligibility conditions for availing the loan such as:
- Age – The applicant’s age should be between 21 and 70 years.
- Monthly income – The candidate should possess a steady source of income to repay the loan through EMIs without any hassle.
- Credit score – The candidate should possess a healthy credit score of 750 or above as it validates their excellent debt repayment history.
Documents required for a PNB housing home loan
- Duly filled application form along with a photograph.
- Identity proof
- Address proof
- Income proof
- Educational qualification proof (Latest degree for self-employed professionals)
- Bank account statements
- Property documents (title deed, approval of the plan, etc.)
Steps to apply for a PNB Housing home loan
- Place an inquiry online about the home loan through the official PNB Housing website or by visiting your nearest branch. Subsequently, an executive will connect with you and explain the home loan process along with discussing your eligibility.
- Then, you should download the concerned application form and fill it with the relevant personal, work, and bank details.
- Submit the duly filled-in application form along with the required documents and the processing fee to complete the first stage of the home loan.
- Subsequently, the loan department will evaluate your financial eligibility to confirm the repayment capacity. Additionally, PNB Housing will also assess the property value and the legal authorizations associated with it before giving final approval.
- Upon completing the verification process, the department will make you a customized offer. After going through all the terms and conditions, you should sign the contract.
- Once the agreement is signed, the loan amount is disbursed through a cheque issued in favor of the builder/ seller.