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28th June 2016, 06:08 PM
Super Moderator
Join Date: Aug 2012
Re: Punjab National Bank Housing Loan

Housing Loan of Punjab National Bank is the loan scheme to ensure availability of Housing Loan at attractive rates and ensure a house for all.

-For construction of house/ flat;
-For purchase of built house/flat.
-For purchase of under construction house/flat from Housing Boards/ Development Authorities/ Co-operative Societies/ Approved Private Builders/ Projects
-For carrying out Additions to the house/flat.
-For carrying out repairs/ renovation / alterations/ cost of furnishing to the house/flat
-For meeting cost escalation in the cases of under-construction flats to existing Housing Loan borrowers.
-For purchase of land/plot for house building

Individuals or Joint owners.

Quantum of Finance

-For Construction/Additions/Purchase of House/Flat: Need based loan depending upon the project cost and repaying capacity.

-For purchase of Land/ Plot for House Building: Maximum 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: Maximum Rs.25 lac.

Cost of furnishing may be included in the project cost with maximum upto 10% of eligible Housing loan with a maximum upto Rs.5.00 lac.

Margin (Borrower’s contribution)
Housing Loan Upto Rs.75 lac 20%
Housing Loan Above Rs.75 lac 25%
Purchase of Land/Plot for House Building 25%

Rate of Interest
Under floating Rate option: @ MCLR+0.05%
Under fixed rate option: @ MCLR+0.55%

Processing Charges/ Upfront fee
Upto Rs 300 lacs
0.50% of loan amount, max Rs 20000/- exclusive of service tax

Above Rs 300 lacs
Rs 50000/- exclusive of service tax

Documentation Charges
Rs 1350/- exclusive of service tax subject to change from time to time

Equitable/registered mortgage of the property


Loan for carrying out repairs/ renovation / alterations to the house/flat: Max.15 years inclusive of moratorium period, if any.

Loan for Others: Max. 30 years inclusive of moratorium period, if any.

-The income of the spouse and earning children (whether married or unmarried) and of the joint owners can be added for determining the income for the purpose of borrowers’ repaying capacity. In such cases, they should be made co-borrower.

- Father/Mother can also be made as co-borrower in cases where property is in the single name of his/her son and also clubbing of their income be permitted for the purpose of eligibility/repayment of loan.

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