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We provide housing finance to individuals for construction or for acquisition/
purchase of house/ flat from development authorities such as DDA/HUDA/ PUDA/RHB
etc. and also from private builders/groups housing societies. We consider
enhancement in loan amount in the event of escalations in cost.
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ELIGIBILITY:
a) Individuals in permanent service or having their own business (Resident or
non-resident).
b) Age of the applicant should not be more than 60 years in case of service
class and 65 years in case of businessman or self employed.
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LOAN AMOUNT:
a) Minimum loan amount would be Rs.50,000/- and maximum loan amount depends
entirely on the repayment capacity of the borrower(s).
b) Actual loan eligibility shall be on the basis of repayment capacity as
determined be PNBHFL taking into account income, age, qualification and
occupation.
c) Income of borrower(s) / co-borrower(s) shall be clubbed together for
calculation of loan eligibility / the level of finance in case of joint
application
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MARGIN:
The borrower's contribution shall be minimum 20% of the total cost of project,
including stamp duty and registration charges.
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INTEREST RATES: (Effective from
1.8.2011) (Present PNBHFR 14.25%)
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BUILDERS AND BODIES CORPORATE (Non Housing):
15.25% |
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BUILDERS AND BODIES CORPORATE (Housing):
14.75% |
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SECURITY:
Security for the loan is first charged by way of equitable/registered mortgage
of the property to be financed and/or such other collateral securities as may
be necessary. Loans to allot tees of flats/houses of development authorities or
members of co-op. housing societies or reputed private builders can be
considered on the basis of tripartite agreement and/or interim security. With
respect to property under construction, interim security may be required.
Collateral/interim security may be assignment of Life Insurance Policies,
guarantees from sound and solvent guarantors, pledge of marketable shares and
such other investments acceptable to PNBHF.
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LOAN DISBURSEMENT:
For outright purchase of house/flat, the loan amount will be paid in lump-sum to
the vendor at the time of registration after satisfying that the borrower has
paid/provided for the balance amount. For houses/flats under construction, the
loan amount will be disbursed in stages based on the progress of construction.
Disbursement will be made after the property has been technically appraised and
all legal documentation has been completed. The borrower has to invest his
proportionate share of the cost, prior to disbursement of loan.
The loan can be disbursed either in lump sum or
installments according to the requirement of the development
authority/ society/ private builder.
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LOAN REPAYMENT:
Loan repayment shall normally be in Equated Monthly Installments
(EMI) comprising of principal and interest over a maximum period of 20 years.
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For Complete EMI Chart
Click Here |
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SPECIAL REPAYMENT PLANS:
In deserving cases, Installmentsmay
be fixed in increasing/decreasing order or in lump sum or even linked to Life
Insurance Policies, under PNB Housing Finances’ special repayment plans like :
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Graduated repayment plan
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Decreasing repayment plan
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LIC linked repayment plan
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Balance payment facility
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For more information, Contact our
Nearest Branch |
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For Applying online
Click Here |
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For downloading
loan application form
Click Here |