PNB Flexible Housing Loan

What are the eligibility conditions required to apply for the Flexible Housing Loan scheme available at
Punjab National Bank ?

[Shaleen]

Punjab National Bank was founded in the year 1895. It is an Indian financial services company based in New Delhi, Delhi, India .

PNB Flexible Housing Loan details –

It offers the borrowers advantage of substantial savings on interest component on account of facility to:

I. Withdraw the same at their choice as per their needs and

II. Deposit their surplus funds in the overdraft account;

1. Eligibility

The age of applicants must be below 50 years and existing Housing loan borrowers under Housing Loan scheme for public subject to fulfillment of all terms & conditions of this variant :

2. Nature of Facility

Term Loan - 80% and overdraft 20%.

3. Extend of Loan

Extent of enchancement equal to reduction in Term Loan Amount.

First enhancement allowed after 3 years, Overdraft limit enchanced upto 50% of total loan amount sanctioned.

Borrowers are entitlement for 20% increase in original limit sanctioned after a lapse of five years.

4. Margin---20% and 25%:

Repayment--

Overdraft component:

- For 55 years and above: On monthly reducing drawing power maximum upto the age of 70 years.

- For Borrowers below 55 years: Servicing of Interest as and when charged i.e. on Monthly Basis.