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5th March 2016, 04:29 PM
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Join Date: May 2012
Re: Overdraft Against Property Punjab National Bank

As you want I am here giving you detail about the Overdraft /Loan Against Property of Punjab National Bank.

Loan Against Mortgage of Immovable Property:

Eligibility

Personal Needs:
Employees of Central/ State Govt./ Schools/ Colleges/ Public Sector Undertakings (PSUs).

Employees of Reputed Corporates and Other Income Tax Assesses.

Age : Below 60 years.

Business Enterprise :
Existing customers with a satisfactory track record of three years .

Income Criteria
For salaried and other income tax assesses:
Minimum net monthly salary of Rs.10,000/- for last three years (salaried class)
or
Minimum net annual income of Rs.1,20,000/- (for other income tax assesses).

For Business Enterprises:
Minimum Net annual income/ Net Profit of Rs.120000/- and above.

Quantum of Finance
For Personal needs:
Rs 1.00 lac to Rs 5.00 lac.

For Business needs :
Rs. 5.00 lac to Rs. 500.00 lac.

Documentation Charges
Rs 1500.00 exclusive of Service tax & Education Cess

Security
Equitable Mortgage of the unencumbered residential House/Flat or
Commercial or Industrial property self occupied or vacant.


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