PNB Housing

PNB Housing

PNB Housing is a public sector Housing Finance Company incorporated under the Companies Act, 1956 and was founded on 11 November 1988. It is head1quartered in New Delhi, India and has its presence in only India. It parent bank is Punjab National Bank and is registered with National Housing Bank. The company basically offers home loans, home improvement loans, plot loans, home construction loans, land loans, loan against property, fixed deposits. Etc. The company has its presence in 31 locations in India through a wide network of 38 branches employing over 600 employees.

Home Loans

PNB Housing offers a wide range of services relating to housing loans to buy a new house, construct a new home, repair an old house and upgrade the house. The process of loan application is easy as the company has many branches. The following are the different types of PNB Housing Home Loans:
 

  • Home Purchase Loans
This type of home loan is provided if the customer wishes to buy a new house Construct a house or extend a house.
 
  • Home Construction Loans
This loan is offered to construct a new home on a plot of land.
 
  • Home Extension Loans
This loan is provided if the customer wishes to make changes like extend their house.
 
  • Plot Loans
Loans offered in order to buy a plot of land to build a new house is called plot loans.
 
  • Home Improvement Loans

The type of loan that is provided to improve the current condition of loan is called home improvement loan.

Home Loan Interest Rates

  • Interest rate for salaried individuals is 8.90%
  • Interest rate for self employed professionals is 8.90% to 9.40%
  • Interest rate for self employed non professionals is 9.10% to 9.60%
Fixed Interest Rates
 
  • Salaried and Self Employed Professionals
  • Fixed interest rate for 3 years is 8.80% to 9.30%
  • Fixed interest rate for 5 years is 8.80% to 9.30%
  • Fixed interest rate for 10 years is 9.10% to 9.60%
     
  • Self employed non professionals
     
  • Fixed interest rate for 3 years is 8.99% to 9.49%
  • Fixed interest rate for 5 years is 8.99% to 9.49%
  • Fixed interest rate for 10 years is 9.30% to 9.80%

Documents Required

In order to take home loans from PNB Housing, the customer is required to provide a list of documents to the company. These documents should be self-attested. They are as follows:
 

  • Duly filled application form with photograph.
  • Age proof
  • Residence proof
  • Education qualification
  • Certificate and proof of the existence of business
  • Business profile
  • Previous 3 years Income Tax returns
  • Last 12 months Bank Account Statement
  • Processing Fee Cheque
  • Xerox of Title documents of the Property and Approved Plans
The home loans have very distinctive features of their own. They are as follows:
 
  • Branch network is spread throughout India.
  • Loans are offered for salaried employees and self-employed professionals.
  • Easy approval of loans
  • Easy disbursal of loans
  • Service enjoyed at door step.
  • Spectacular after loan distribution service
  • Facility to increase loan amount in case of a rise in cash.
  • Eligible and well-experienced employees delivering best-in-class services.
  • A host of repayment options available.
  • Transparency and ethics in loan process are highly adopted.

Commercial Property Loan

PNB Housing also offers a host of loans other than home loans. These loans are provided for buying and constructing a property having a commercial value in permitted areas. These types of loans are provided on offices, shops, spaces. The following are the benefits of Commercial Property Loans offered by PNB Housing:
 
  • Branch network is spread across India.
  • Door step service provided.
  • Loan enhancement facility in case of cost appreciation.
  • Good after loan distribution service
  • Good and experienced employees offering best-in-class services.
  • Several repayment options.
  • Follows high standards of ethics and transparency.
 Commercial Property Loans offers a host of different non-home loan products. They are as follows:
 
  • Loan for Purchase and Construction of Commercial Property
  • Loan against Residential and Commercial Property
  • Lease Rental discounting
Interest Rates
  • Commercial Property Purchase Loans offers floating rate of interest to the customers. For Commercial Property purchases, the rate of interest ranges from 10.25% p.a. to 10.75% p.a.
     
Fixed Interest Rates
 
  • Fixed interest rate for 3 years is 10.25% to 10.75%
  • Fixed interest rate for 5 years is 10.25% to 10.75%
  • Fixed interest rate for 10 years is 10.50% to 11.00%
Documents Required for Commercial Property Loan


In order to take commercial property loans, the customer is required to provide a list of documents to the company. These documents should be self-attested. They are as follows:
 
  • Duly filled application form with photograph.
  • Age proof
  • Residence proof
  • Education qualification
  • Certificate and proof of the existence of business
  • Business profile
  • Previous 3 years Income Tax returns
  • Last 12 months Bank Account Statement
  • Processing Fee Cheque
  • Xerox of Title documents of the Property and Approved Plans

Fixed Deposits

PNB Housing offers a wide range of fixed deposit schemes for secure investments to the customers at a very competitive rate of interest. The company provides financial services like loans and deposits through their widely spread network of operating branches. The following are the advantages of fixed deposits of PNB Housing:
 
  • No TDA charged for income up to Rs. 5000 per financial year
  • Facility of loan provided up to 75% of the deposit amount
  • Cash encashment possible
  • Repayment of deposits possible
  • Premature cancellation offered after 3 months
  • Facility of nomination also available
  • FAAA rating by CRISIL
  • Provides assured safety 
Interest Rates

For regular deposits up-to Rs. 5 crore, the rate of interest remains constant at 7.25% p.a. for tenures ranging from 12 months to 120 months. On the other hand, for special deposits up-to Rs. 5 crore, the rate of interest ranges from 7.35% p.a. to 7.40% p.a. for tenures ranging from 15 months to 44 months.

 
Interest Rates for Senior Citizens

Senior citizens are citizens above 60 years of age. For senior citizens, the fixed deposits rates are applicable for deposits up-to Rs. 1 crore only. The rate of interest in case of senior citizens increases by 0.25% as compared to non-senior citizens.
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