Punjab National Bank Housing Loan Eligibility - 2018-2019 StudyChaCha

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Old January 13th, 2018, 09:45 AM
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Default Punjab National Bank Housing Loan Eligibility

I want to know the eligibility Criteria to apply for the Housing Loan in Punjab National Bank PNB so can you tell me?
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Old January 13th, 2018, 10:28 AM
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Default Re: Punjab National Bank Housing Loan Eligibility

The Punjab National Bank PNB offers Housing Loan for construction of house/ flat, purchase of built house/flat.

Housing Loan

Objective

To ensure availability of Housing Loan at attractive rates and ensure a house for all.

Purpose

For construction of house/ flat;

For purchase of built house/flat.

For purchase of under construction house/flat from Housing Boards/ Development Authorities/ Co-operative Societies/ Approved Private Builders/ Projects.

For carrying out Additions to the house/flat.

For carrying out repairs/ renovation / alterations/ cost of furnishing to the house/flat.

For meeting cost escalation in the cases of under-construction flats to existing Housing Loan borrowers.

For purchase of land/plot for house building.

Eligibility -


Individuals or Joint owners.

Quantum of Finance

For Construction/Additions/Purchase of House/Flat: Need based loan depending upon the project cost and repaying capacity.

For purchase of Land/ Plot for House Building: Maximum Rs.100 lacs for State Capitals and Metro and Rs. 50 lacs for other centers; (Higher amount may be considered on individual merit of case)

For repairs / renovation / alterations: Maximum Rs.25 lac.

Cost of furnishing may be included in the project cost with maximum upto 10% of eligible Housing loan with a maximum upto Rs.25.00 lac.

Margin (Borrower`s contribution)

Housing Loan Upto Rs.75 lac 20%

Housing Loan Above Rs.75 lac 25%

Purchase of Land/Plot for House Building 25%

Security -

Equitable/registered mortgage of the property in question.

Repayment -

Loan for carrying out repairs/ renovation / alterations to the house/flat: Max.15 years inclusive of moratorium period, if any.

Loan for Others: Max. 30 years inclusive of moratorium period, if any.

The income of the spouse and earning children (whether married or unmarried) and of the joint owners can be added for determining the income for the purpose of borrowers` repaying capacity. In such cases, they should be made co-borrower.

Contact-

Corporate Office:

PNB
7, Bhikhaiji Cama Place, New Delhi -110 607
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