Write a review
 
  
Apply
Punjab National Bank
Punjab National Bank
3.0/5

About Punjab National Bank Home Loan

Punjab National Bank is one India’s largest public sector bank . Founded in 1894, the bank has over 6000 branches and close to 10,000 ATMs.

Specifically for retail customers, PUNJAB NATIONAL BANK offers a wide range of loans, cards and deposit schemes. PUNJAB NATIONAL BANK offers one of the best home loans including interest rates, pan India reach, swift and customer centric service and transparency.

Are you eligible for
Punjab National Bank Home Loan?


At least 21 years old

Less than 60 years old

Salaried with regular income

Self-employed with minimum income required

For what purpose can I avail loans from Punjab National Bank Home Loan?

One can avail home loans from Punjab National Bank Home Loan for the following purposes:

Construction of home
Home extension loans
Home improvement loans
Loan against property
New home
Plot loans
Resale home
Short term bridging loans
Top up loans
Transfer of home loan from another lender (Balance Transfer)

FAQs about Punjab National Bank Home Loan:

Am I allowed to prepay my loan? If so, what will be the prepayment penalty?

Yes, you can make prepayments on your housing Loan. However, penalty charges may be levied by some companies.

Can I structure my home loan as part fixed or part floating?

Yes, you have the flexibility to schedule your home loan as part floating or fixed in line with your own convenience and requirements.

How is my Home Loan eligibility determined?


Lenders compute your loan eligibility basis various factors including income, age, occupation, co-applicant’s income, number of dependents, assets & liabilities and savings history. 

Should I evaluate transferring my existing home loan to a new lender?

Not all home loan products are created equal. For long, it was inferred that signing up with a particular home loan provider was a commitment that would only end after the loan has been completely repaid. Also, this meant that the lender’s high interest rates had to be complied with, and that better loan options from other lenders that emerged at a later date were to be seen as missed opportunities. Not anymore!!

Following are compelling reasons for  you to evaluate moving your existing home loan

o    Simple transfer procedure, followed by a chance to gain an additional top-up loan offers.

o    Attractive and best in class interest rates that help you save money.

o    A bunch of customized repayment options to help you pay off the loan amount easily.


o    Absolutely 0% hidden charges.

What is a ‘Plot Loan’?

Plot Loan is a type of home loan that allows borrowers to purchase a plot of land wherein they can eventually build a house. The advantage with this is that the borrower can decide upon his/her requirements in terms of the design of the house and other such requirements. All the essential conditions associated with the standard home loan shall apply here as well.

What is a ‘Short Term Bridging Loan’?

As the name so aptly describes, a Short Term Bridging Loan is a financial ‘bridge’ that takes care of your needs before you move into your brand new home, and are still running through the process of selling your old house. This interim period could result in double the expenditure and compliance with a whole bunch of legal and personal issues- necessitating the need for an all-encompassing Short Term Bridging Loan.

    What is the processing fee for Punjab National Bank Home Loan?

    Starting at 0.5% of home loan with a maximum of Rs 20,000 for loans up to Rs 3 cr. Flat fee of Rs 50,000 for loans size more than Rs 3 cr

    What purpose do Home Improvement Loans serve?

    As the name clearly mentions, a home improvement loan helps you improve the aesthetic and functional qualities of your home. The Home Improvement Loan can be used for such varied purposes as painting the house, tiling and flooring, plastering, construction of a sturdy fence or border, etc. The borrower must however sufficiently prove that the disbursed loan will be used for the exact purpose for which it is intended.

    Who can I assign as co-applicant(s) for the home loan?

    When you are applying jointly for a housing loan, all proposed owners of the house must be co-applicants. But, all co-applicants need not necessarily be co-owners. Co-applicants are generally immediate family members.

    Know Your CIBIL Score: When considering your eligibility for the loan, all lenders will seek out your CIBIL score to confirm your reliability as a borrower.

    Competition

    Recent Review

    350 days   ago
    RATED 3.8 PNB housing loan process was excellent. Though they take time to process the request it takes a lot of time to fulfill the needs of the customer. The entire process was excellent. For the past 7 years

    Trending Reviews

    Recent reviews