Home Loan Banks: Punjab National Bank
The added advantages of applying for a home loan from PNB Bank are minimal documentation, quick loan procedure, expert advice related to the various queries of the customers, minimal processing fees and nil prepayment charges.
Panjab National Bank Home Loan Interest Rate in Bangalore
| Base Interest Rate | 8.50% 9.50% |
| Maximum Tenure | 30 years |
| Processing Fee | Up to 0.35% of the loan amount, plus applicable taxes. |
| Prepayment and Foreclosure Charges | Allowed and no charges for floating rate loans |
| Age Limit | Min 21 years and Max 70 years |
Panjab National Bank Home Loan Checklist in Bangalore
| KYC Documents |
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| Income Documents and Bank Statement |
For Self-employed – for both applicant and co-applicant
For Salaried – for both applicant and co-applicant
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| Additional documents required in case of Balance Transfer of Home Loan |
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| Property documents |
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Why choose Panjab National Bank Housing Loan
PNB Housing is known for its fair dealing, and ethical conduct, easy access to loan account information or any kind of post disbursement service requirement, customers can easily rely upon.
Benefits of taking Panjab National Bank Housing Loan
When you opt for a Home Loan, you can enjoy the following benefits:
- Taxation: A Home Loan allows you to claim income tax deductions on the interest and principal amount due. Under the Income Tax Act, 1961, as per Section 80C, you can claim up to INR 1.5 lakh on principal repayments, and up to INR 2 lakh on interest repayments under Section 24B. You can avail of other tax benefits via a Home Loan, as well.
- Interest Rate: When compared to the various kinds of loans available, the interest rate on a Home Loan is relatively lower. Plus, in case of a cash crunch, you can also apply for a Top-Up Loan in addition to the existing Home Loan.
- Due Diligence: When you apply for a Home Loan, banks check the property from a legal standpoint and ensure that the documents are valid and the title is clear. This step can prevent you from being scammed and passing this due diligence can validate your property.
Different types of loan provided by Panjab National Bank
Home Loan For Purchase
A home loan can unlock your dreams of owning a spacious flat, row house, or bungalow. This loan gives financial aid to those wishing to purchase a new or a pre-owned home.
Home Construction Loan
As the name suggests, a Home Construction Loan is for individuals who want to construct their home rather than buy a pre-built one. PNB Housing offers Home Construction Loans tailored to applicants’ budgets and construction needs. With this loan, you can build your house with complete financial freedom and repay it within a flexible tenure of 30 years.
Home Improvement Loans
Home Improvement Loan is popular among different types of home loans as this can be taken for renovation, repairing, or refurbishing a house. This usually involves coverage for a complete renovation, upgradation, exterior and interior paint or repairs, tiling, flooring, plumbing, electrical work, woodwork, etc.
Home Extension Loans
As your family grows, you extend your love, time, and even your budget. But what about your home? You might need more space in your existing house for your child, their study room, or your library. You can take a Home Extension Loan to extend your house in such a case.
Plot Loan
Plot loans allow you to finance a residential plot. PNB Housing financed around 70-75% of the plot’s price. However, the interest rates on plot loans are slightly higher than house loans for purchase.
Panjab National Bank – Top up loans
Sometimes dreams need a little extra help. With PNB’s Top Up Loans you can celebrate your personal or professional milestones such as marriage, a dream vacation, business expansion, debt consolidation etc. with super ease and minimal new documentation. Let your dream fuel more dreams.
Panjab National Bank balance transfer of existing loan at lower interest rate
Panjab National Bank offers Balance Transfer Loans at attractive interest rates to lower your loan repayments. Move your Home Loan outstanding balances to Panjab National Bank, pay lower monthly instalments and enjoy the savings for the other things in life that really matter to you and your family.
Balance Transfer Benefits
- Duly filled application form.
- Home loan approval in 4 simple steps.
- Customized Repayment Options
- Tailor-made home loans to suit your requirements.
- Easy documentation
- Apply with minimal documents, save time and effort.
- 24×7 assistance
- Connect with us on Chat, WhatsApp anytime, anywhere
- Online loan account
- Login to your account to conveniently manage your loan
Panjab National Bank – NRI Home Loans
Your work might have taken you abroad but the yearning for the homeland remains unabated. With PNB Home Loans turning your dream home in India, into a reality, is convenient and easy.
- Loans to NRIs, PIOs and OCIs* for the purchase of a flat, row house, bungalow from private developers in approved projects in India
- Loans for the purchase of properties from Development Authorities such as DDA, MHADA etc.
- Loans for construction on a freehold / lease hold plot or on a plot allotted by a Development Authority in India
- Loans for purchase of properties in an existing Co-operative Housing Society or Apartment Owners’ Association or Development Authorities settlements or privately built up homes
- Attractive interest rates
- Avail of Home Loan Advisory Services in the country where you currently reside
- Property Search Advisory Services – expert legal and technical counselling to help you make the right home buying decision
- Valuable insights on developer projects, location, documentation and offerings
- Loan for purchase of property located anywhere in India**
- Loans also available for those employed in the Merchant Navy