GHAR SUDHAR YOJNA
	Under "Ghar Sudhar Yojna", we make available housing finance to individuals for up gradation, renovation or repair of house/flat. It includes among others, internal & external repairs, water proofing, roofing, flooring, electrical, woodwork etc.
	ELIGIBILITY: Individuals who are in permanent service or self employed or have their own business. Age of the applicant should not be more than 60 years
	LOAN AMOUNT: Minimum amount of loan is Rs. 50,000. Maximum amount of loan shall not exceed Rs. 10,00,000. Borrower’s minimum contribution will be 25% of the estimated cost of repairs/renovations. Actual loan amount shall be calculated on the basis of repayment capacity of the borrower as determined by PNBHFL.
	INTEREST RATES: (Effective from 1.08.2008) For loan up to Rs.10 Lakhs
	Period Rate of Interest (%) Up to 15 years 12.00
	For the loan above Rs.10Lakhs
	Period Rate of Interest (%) Up to 15 years 11.75
	SECURITY: Normally, the security for the loan shall be first charge by way of Equitable/Registered mortgage of the property. However, PNB Housing Finance at its discretion, can sanction a loan on the basis of: pari-passu/second charge in the case of Central/State Govt./Public Sector/Nationalized Bank employees and other similar bodies or Other securities such as assignment of LIC policies (surrender value at least equivalent to the amount of loan), pledge of marketable shares and such other investments acceptable to PNBHF. Besides this, personal guarantee from sound and solvent guarantors may be asked for.
	LOAN DISBURSEMENT: A loan will be disbursed in lump sum or in stages (not more than three) based on the progress of renovation/repair. Disbursement will be made after the property has been technically appraised and all legal documentation and other formalities have been completed. The borrower has to invest his share of the cost in full prior to disbursement of the loan. The borrower is expected to complete the repair/renovation within six months.
	LOAN REPAYMENT: Loan repayment shall normally be in Equated Monthly Installments (EMI) comprising of principal and interest over a maximum period of 10 years. The table below shows EMI for a loan of Rs. 1,00,000/-(Effect from 01.05.2007)
	Monthly Reducing Balance (%) No. of Years 11.00% 11.25% 11.50% 11.75% 12.00% 12.25% 12.50% 12.75% 13.00% 13.25% 01 8839 8850 8862 8874 8885 8897 8909 8921 8939 8944 02 4661 4673 4685 4696 4708 4720 4731 4743 4755 4766 03 3274 3286 3298 3310 3322 3334 3346 3358 3370 3382 04 2585 2597 2609 2622 2634 2646 2658 2671 2683 2696 05 2175 2187 2200 2212 2225 2238 2250 2263 2276 2289 06 1904 1917 1930 1943 1956 1969 1982 1995 2008 2021 07 1713 1726 1739 1752 1766 1779 1793 1806 1820 1833 08 1571 1585 1598 1612 1626 1640 1653 1667 1681 1695 09 1463 1477 1491 1505 1519 1533 1547 1562 1576 1590 10 1378 1392 1406 1421 1435 1450 1464 1479 1494 1508
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