PNB Housing Loan Against Property

Updated: 18-07-2022 07:36:36 AM

PNB Housing Finance Loan Against Property Highlights 2022
Interest Rate	8.25%-11.50% p.a.
Tenure	Up to 20 years
Processing Charges	2% of the loan applied for + GST

PNB Housing Finance Loan Against Property Interest Rates

Credit score (any loan amount)	Loan Against Commercial Property	Loan Against Residential Property (LAP)	Loan against Plot/ Loan against Special Property* (Residential/Commercial)
>= 800	8.25%-8.75%	8.25%-8.75%	11.00%-11.50%
>775 to 799	8.40%-8.90%	8.40%-8.90%	11.00%-11.50%
>750 to <=775	9.00%-9.50%	9.00%-9.50%	11.00%-11.50%
> 725 to <=750	9.40%-9.90%	9.40%-9.90%	11.00%-11.50%
> 700 to <=725	9.85%-10.35%	9.85%-10.35%	11.00%-11.50%
> 650 to <=700	10.85%-11.35%	10.85%-11.35%	11.00%-11.50%
upto 650	10.90%-11.40%	10.90%-11.40%	11.00%-11.50%
NTC** Cibil >170	11.00%-11.50%	11.00%-11.50%	11.00%-11.50%
NTC** Cibil <=170	10.85%-11.35%	10.85%-11.35%	11.00%-11.50%

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	9.80-10.20
Bank of Baroda	9.65-15.30
PNB Housing Finance	7.99-11.00
IDFC First Bank	7.40-14.90
HDFC	8.50-11.40
L&T Housing Finance	10.30-10.90
LIC Housing Finance	8.35-11.10
Godrej Housing Finance	9.25-10.99
ICICI Bank	9.75-10.90
Tata Capital	10.10 onwards
Bajaj Housing Finance	8.60-18.00
Axis Bank	8.90-9.10
Kotak Mahindra Bank	9.50-11.70

Types of PNB Housing Finance Loan Against Property

Loan Against Property

Purpose: For meeting business and personal requirements
Loan Amount: Maximum loan amount (LTV): 60% of the market value of the property as certified by approved valuer of PNB Housing or 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 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 property is name of 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.

Documents Required for PNB Housing Finance Loan Against Property

All documents mentioned below 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

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