PNB Housing Loan Against Property

PNB Housing Finance Loan Against Property Highlights
Interest Rate	8.99%-13.00% p.a.
Tenure	Up to 20 years
Processing Charges	2% of the loan applied for + GST

Note: Rates as of 31 January 2023

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	8.99% to 9.49%	8.99% to 9.49%	11.35%
>775 to 799	9.90% to 10.40%	9.90% to 10.40%	11.35%
>750 to <=775	10.50% to 11.00%	10.50% to 11.00%	11.35%
> 725 to <=750	10.90% to 11.40%	10.90% to 11.40%	11.35%
> 700 to <=725	11.35% to 11.85%	11.35% to 11.85%	11.35%
> 650 to <=700	12.35% to 12.85%	12.35% to 12.85%	11.35%
upto 650	12.40% to 12.90%	12.40% to 12.90%	11.35%
NTC Cibil >170	12.50% to 13.00%	12.50% to 13.00%	11.35%
NTC Cibil <=170	12.35% to 12.85%	12.35% to 12.85%	11.35%

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

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.35-11.05
Bank of Baroda	10.55-16.20
PNB Housing Finance	9.65-13.00
IDFC First Bank	8.75-16.25
HDFC	9.35-12.25
L&T Housing Finance	9.60 onwards
LIC Housing Finance	9.10-12.25
Godrej Housing Finance	9.75-14.50
ICICI Bank	9.75-10.90
Tata Capital	9.85 onwards
Bajaj Housing Finance	9.85-10.80
Axis Bank	9.90-10.35
Kotak Mahindra Bank	9.15 onwards

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