Punjab National Bank

Punjab National Bank was founded in 1894. With over two decades of specialised experience in housing finance, PNB has a robust network of branches spread across the country which help its customers avail financial services (loans and deposits) seamlessly. PNB was ranked #717 in the Forbes Global 2000 List.

PNB HOMELOANS
Interest rate* 8.35-8.45%
Options of interest rate Floating
Processing fees 0.5% ( Max 20000)
Repayment period Max 30 years
Prepayment penalty NIL
Balance transfer facility Available
Top up facility  Not Available
Overdraft Facility Available

MONEYBAZAAR’S ANALYSIS ON PNB HOMELOANS:

PROS:

  • Low rate of interest esp. for high loan amounts.
  •  Large branch network

CONS:

  • Processing charges applicable.
  •  Documentation charges (Rs 1350) applicable.
  •  Borrowers below the age of 50 are only eligible.

DOCUMENTS REQUIRED FROM THE LOAN SEEKER:

1. KYC (Know You Customer) Documents

  • Pan card
  •  Address proof ( any one ):
    •  Adhaar card
    •  Voter id card
    •  Passport
    •  Driving license
    • Rent agreement supported by permanent address proof

2. Income Proof:

  •  For salaried
    •  Latest salary slips for last 3 months.
    •  Form 16 for last 2 years.
  •  Self employed or professionals
    •  ITR’s for last 3 years with computation, profit & loss and balance sheets

3. Other Documents:

  • 6 months bank statement for salaried.
  •  12 months current and savings account statement for self employed or professionals (self & business)
    • Education Qualifications – Latest Degree (for professionals)
    •  Sanction letter of existing loans (if any).

4. Property Documents:

  • Allotment letter and payment receipts for Bank’s approved projects
  •  Complete chain of property starting from allotment letter if the sale or lease deed has been executed
  •  Sanctioned map of property (not required in approved projects)

CHARGES OTHER THAN PROCESSING FEES:

Actual charges for the following will be payable by the customer in addition to the processing fees:

  • Advocate’s fee for property search and the title investigation report.
  •  Valuer’s fee for valuation report.
  •  Stamp duty payable for Loan agreement & mortgage.
  •  Property insurance premium.

CERSAI Registration Fee of Rs 50/- + GST up to Rs 5 lacs limit and Rs 100 + GST for limits above Rs 5lakhs