Punjab National Bank Home Loans

Punjab National Bank a friendly bank of India offers convenient home loans as per the repayment capacity of the home buyers either on Construction or purchase of individual house or flat.

Home loans are available in PNB for purchasing a house/ flat on First Power of Attorney basis from the original allottee. Housing finances are available in PNB for carrying out repairs/ renovations/ additions/ alterations to existing house/ flat. The loans are available for Individual applicants as well as the group or joint applicants.

Following are some of the feature of the PNB Home Loans:

For carrying out repairs/ renovation/ additions/ alterations: 80% of the estimated cost subject to maximum of Rs. 20lacs
Loan up to Rs.10 Lacs for purchase of Land/Plot
Loan is available maximum upto Rs.2 Lacs for furnishing

Security:

Mortgage of property for which finance is being given.
In case of purchase of house/ flat from housing board/ society where mortgage cannot be created immediately, a tripartite agreement shall be executed amongst the housing board/ society, borrower and the Bank.

In case of purchase of house/ flat on first power of attorney, additional security equal to 125% of the loan amount by way of mortgage of some other property or pledge of bank's FDR/ LIC policy/ Govt. Securities, NSCs, KVPs, IVPs, / PSU Bonds etc. has to be provided.

For the Rate of Interest, repayment and related details please click on the link: Punjab National Bank Home Loans