| PNB Housing Finance Loan Against Property Highlights | |
| Interest Rate | 8.99%-12.85% p.a. |
| Tenure | Up to 20 years |
| Processing Charges | 2% of the loan applied for + GST |
Note: Rates as of 28 April 2023
Table of Contents
PNB Housing Finance Loan Against Property Interest Rates
| Credit score (any loan amount) |
Loan Against Commercial Property (p.a.) | Loan Against Residential Property (LAP) (p.a.) | Loan against Plot/ Loan against Special Property* (Residential/Commercial) (p.a.) |
| >= 800 | 9.25% to 9.75% | 9.25% to 9.75% | 9.75% to 10.25% |
| >775 to 799 | 10.20% to 10.70% | 10.20% to 10.70% | 10.70% to 11.20% |
| >750 to <=775 | 10.80% to 11.30% | 10.80% to 11.30% | 11.30% to 11.80% |
| > 725 to <=750 | 11.20% to 11.70% | 11.20% to 11.70% | 11.70% to 12.20% |
| > 700 to <=725 | 11.65% to 12.15% | 11.65% to 12.15% | 12.15% to 12.65% |
| > 650 to <=700 | 11.85% to 12.35% | 11.85% to 12.35% | 12.35% to 12.85% |
| upto 650 | 11.85% to 12.35% | 11.85% to 12.35% | 12.35% to 12.85% |
| NTC Cibil >170 | 11.85% to 12.35% | 11.85% to 12.35% | 12.35% to 12.85% |
| NTC Cibil <=170 | 11.75% to 12.25% | 11.75% to 12.25% | 12.25% to 12.75% |
Lease Rental Discounting Interest Rates
| Credit Score (any loan amount) |
Interest Rates (p.a.) |
| >=800 | 8.99% to 9.49% |
| >775 to 799 | 9.90% to 10.40% |
| >750 to <=775 | 10.50% to 11.00% |
| > 725 to < =750 | 10.90% to 11.40% |
| > 700 to <= 725 | 11.35% to 11.85% |
| > 650 to <= 700 | 11.35% to 11.85% |
| upto 650 | 11.35% to 11.85% |
| NTC Cibil >=170 | 11.35% to 11.85% |
| NTC Cibil <170 | 11.35% to 11.85% |
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) |
| State Bank of India | 10.60-11.30 |
| Bank of Baroda | 10.85-16.50 |
| PNB Housing Finance | 9.65-13.00 |
| IDFC First Bank | 9.00-16.50 |
| HDFC | 8.95-10.25 |
| L&T Housing Finance | 9.50 onwards |
| LIC Housing Finance | 9.50-11.55 |
| Godrej Housing Finance | 9.75 onwards |
| ICICI Bank | 10.85-12.50 |
| Tata Capital | 10.10 onwards |
| Bajaj Housing Finance | 8.50-18.00 |
| Axis Bank | 9.90-10.35 |
| Kotak Mahindra Bank | 9.15 onwards |
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Types of PNB Housing Finance Loan Against Property
Loan Against Property
Purpose: Prospective applicants can avail loan against property for meeting business and personal requirements
Loan Amount: Maximum loan amount (LTV): 60% of the market value of the property as certified by an approved valuer of PNB Housing or the repayment capacity of the customer, whichever is lower.
Security: The loan is secured by a first charge in the form of an equitable mortgage of the property to be financed and/or such other collateral securities as PNB Housing deems appropriate.
Additional or interim security can be required as acceptable to PNB Housing.
Loan Repayment: Upto 20 years
Lease Rental Discounting (LRD)
Loan Amount: Maximum loan amount (LTV): 80% of the future rent receivable (future) within the unexpired period of the lease deed
Security: The loan is secured by a first charge in the form of an equitable mortgage of the property to be financed and/or such other collateral securities as PNB Housing deems appropriate.
Loan Repayment: Upto 10 years
PNB Housing Finance Loan Against Property Fees & Charges
| Charges Type | Charges Applicable |
| Processing Fees | 2% of the loan applied for + GST |
| Part or Full Prepayment of loan (on Floating Rate of Interest) ** | a. NIL – In case property is in the name of Individual & loan is not a
Non-Housing / Business purpose loan b. 3% – of principal prepaid + GST – If property is in the name of Individual & Purpose is non housing/business c. In case of property is the name of a non-individual entity, it will be considered as business purpose loan and a charge of 3% of principal paid + GST will be applicable |
| Part or Full Prepayment of loan (on Fixed Rate of Interest) ** | 3% – of Principal Pre-paid + GST
|
| Cheque/NACH Mandate Form Return (Bounce Charges) | a. Rs 750/- + GST (1st Bounce)
b. Rs 1000/- + GST (2nd Bounce – Same Instrument Representation) 24% p.a on unpaid EM |
**The amount should be at least five times the prevailing EMI for a payment to be considered & applied as part payment of loan.
Eligibility Criteria for PNB Housing Finance Loan Against Property
- Maximum Age (for salaried applicants): 60 years at the time of loan maturity
- Maximum Age (for self-employed professional/non-professional): 65 years at the time of loan maturity.
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Documents Required for PNB Housing Finance Loan Against Property
The following stated documents required for loan against property require self-attestation
For Salaried Employees:
- Application Form with Photograph
- Age Proof (Passport, PAN Card, or any other Certificate from Statutory Authority)
- Residence Proof (Passport, Telephone Bill, Ration Card, Driving License, Election Card, or any other Certificate from Statutory Authority)
- Latest Education Qualifications – Degree
- Latest Salary-slips for 3 months
- Form 16 for last 2 years
- Bank Account Statements of last 6 months (salary account)
- Processing Fee Cheque required in favour of ‘PNB Housing Finance Ltd.’
- Photocopy of Title Documents of the Property, Approved Plan
For Self Employed/Professionals
- Application Form with Photograph
- Age Proof (Passport, PAN Card, or any other Certificate from Statutory Authority)
- Residence Proof (Passport, Telephone Bill, Driving License, Election Card, Ration Card, or any other Certificate from Statutory Authority)
- Education Qualifications – Latest Degree (for professionals)
- Certificate & Proof of business existence along with Business Profile
- Last 3 years Income Tax returns (self and business) with Profit & Loss Account and Balance Sheets duly certified or audited by a Chartered Accountant
- Bank Statements of last 12 months (self and business)
- Processing Fee Cheque required in favour of ‘PNB Housing Finance Ltd.’
- Photocopy of Title Documents of the Property, Approved Plan etc
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For Lease Rental Discounting Loan
- Application Form with Photograph
- Age Proof (Passport, PAN Card, or any other Certificate from Statutory Authority)
- Residence Proof (Passport, Telephone Bill, Driving License, Election Card, Ration Card, or any other Certificate from Statutory Authority)
- Income Tax returns for last 3 years (self & business) with Balance Sheets and Profit & Loss Account duly certified or audited by a Chartered Accountant
- Certificate & Proof of business existence along with Business Profile
- Processing Fee Cheque required in favour of ‘PNB Housing Finance Ltd.’
- Photocopy of Title Documents of the Property, Approved Plan etc
- Registered Lease Deed copy
- Bank Statements of last 6-12 months which reflect the Rental Credits in the account