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  #2  
22nd December 2015, 05:30 PM
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Re: Punjab National Bank Home Loan Interest Rate

What is the rate of interest which is charged for Housing loans by Punjab National Bank, as I am planning to avail one & like to know the details?
  #3  
22nd December 2015, 05:31 PM
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Join Date: Apr 2013
Re: Punjab National Bank Home Loan Interest Rate

Purpose of the Housing Loan for Public is based on following:

Construction of house/ flat;
To Purchase of built house/flat.
To Purchase of under construction house/flat from Housing Boards/ Development by authorities/ Co-operative Societies/ Approved Private Builders/ Projects.
To Carry out Additions to the house/flat.
To Carry out repairs/ renovation / alterations/ cost of furnishing to the house/flat.
Meeting cost escalation in the cases of under-construction flats to existing Housing Loan borrowers.
To Purchase of land/plot for house building.

Eligibility for loans is either Individuals or Joint owners.

Quantum of Finance
For Construction/Additions/Purchase of House/Flat: could do with loan depending upon the project cost and repaying capacity.
For purchase of Land/ Plot for House Building: upper limit of Rs.100 lacs for State Capitals and Metro and Rs. 50 lacs for other centers; (Higher amount may be considered on individual merit of case)

For repairs / renovation / alterations: utmost is Rs.25 lac.
Cost of furnishing may be included in the project cost with utmost upto 10% of eligible Housing loan with a maximum upto Rs.5.00 lac.

Rate of Interest

Under floating Rate option @ Base Rate

Under fixed rate option @ Base Rate+0.50%

BASE RATE is 9.60% w.e.f. 01.10.2015


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