PNB Housing Finance Limited

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Why Choose 

PNB Housing Home Loan?

Flexibility
in Documentation
High Tenure
Loan
Fund upto 90%
of Property Value
Quick Sanction
and Disbursement
Customised
Eligibility as per Income
Doorstep
Service

Customer Testimonials

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Find

The Right Solution for your Needs

Home Loan can be confusing. Got questions? No problem! We are here to help you every step of the way. At PNB Housing Finance, We strive to provide speedy solution for all your home finance queries.

First Time Buyer

Existing
PNB Housing Customer

Refinance / Balance Transfer to PNB Housing

Looking for a Roshni Home Loan

Loan Against Property

What is your
Current Income Status?
I am Salaried
I am Non-Salaried/Self Employed
Valued PNB Housing customers

You can now enjoy the convenience and ease of our customer care solutions at your fingertips. You can get a variety of services, such as rate conversion and part payment, all online and without visiting a branch. With our safe and secure online services, you may do maximum of your transactions with confidence and without stress. So prepare to benefit from hassle-free home loans with PNB Housing.

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Make Online Payment
FAQ's on Interest Rate reduction
Apply for a Top-up
Seeking financing for a second home

A second house loan is an excellent choice for those wishing to invest in real estate or produce additional income. We provide affordable interest rates and more flexible eligibility requirements, and borrowers can receive up to 90% of the house's construction or purchase price. Furthermore, tax breaks on second home loans are available under Sections 80C and 24 of the Income Tax Act. Section 80C allows for a maximum deduction of 1.5 lakh on principle payments, whereas Section 24 allows for a maximum deduction of 2 lakh on interest payments. Before applying for a second home loan, it's critical to understand the intricacies of these perks and utilise an EMI calculator to determine eligibility.

I am Salaried
I am Non-Salaried/Self Employed
Get a Home Loan approved in just
3 minutes, hassle-free!
Home loan balance transfer

A home loan balance transfer seeks to transfer your outstanding balance to PNB Housing with a favourable interest rate. You can save money on monthly payments and overall interest by having a solid credit score, a consistent income, and papers such as a repayment track record and property paperwork. The procedure consists of applying, submitting paperwork, paying fees, and receiving approval.

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Loan Against Property

We offer loans against the mortgaging of existing residential/commercial properties in our branch locations for legitimate purposes such as business expansion, education, medical expenses, etc. We have a wide range of non-home loan products, a pan-India branch network, door-step services, excellent post-disbursement services, ethical practices, and various repayment options. Our experienced team ensures customer satisfaction and loan amount enhancement in case of cost escalation.

Document Checklist
Processing Fees
Eligibility Criteria
Loan Against Property Insurance/Customer Safety
Contact us for Loan against property
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Get a Home Loan approved in just
3 minutes, hassle-free!

PNB Housing

Home Loan Calculators

EMI calculator
Calculate your EMIs with our easy and intuitive Home Loan EMI calculator
Eligibility calculator
We evaluate your eligibility by considering income, tenure, other sources of monthly revenue, pre-existing debts, and EMIs.
 Home Loan Affordability
calculator 
A calculator which helps you gauge the value of the property you can buy and your eligible home loan amount.
Stamp duty & upfront costs calculator
Estimate the other costs of buying a property, including government costs, stamp duty, and fees.
Credit check 
Check your credit score and determine if you can get the best loan rates in the market.

Have Questions!

We are happy to assist you.

Sanjay Varma

Sales Manager, PNB Housing

Instant Home Loan approvals with 

PNB Housing's ACE Platform

  • Superfast on-boarding
  • Complete Loan application within minutes
  • Faster Sanctions and Disbursements
  • Fully secure and encrypted application

How to apply for a Home Loan on the ACE platform

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How to Apply for a Home Loan on the ACE platform

PNB Housing 

Home Loan Products

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PNB Housing Blogs

PNB Housing News & Updates

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Frequently Asked Questions

What is the procedure for applying the home loan?

Step 1:Submit your loan application along with required set of documents.

Step 2:Your application would be assessed on the basis of various eligibility and funding norms.

Step 3:A property valuation and title check may be carried out by the company representative to determine the property value and    legal clearance of the property to arrive at the loan amount.

Step 4:Based on the internal and regulatory guidelines, PNB Housing may approve or reject the loan application.

Step 5:Submission of the original property documents are required along with signing of agreements, handing over of registered property papers and submission of post-dated cheques/ECS.

Step 6:Upon finding all the documents in order, PNB Housing will disburse the loan amount to the developer/contractor based on the progress of construction. The EMI/Pre-EMI will commence after the disbursement.

Am I eligible for a Home Loan?

You are eligible for a loan if you are an Indian citizen or a person of Indian Origin and are a salaried/ self- employed professional/ a businessman. Your loan eligibility will be determined by PNB HFL on the basis of professional income, age, qualifications, number of dependents, co-applicant’s income, assets, liabilities, stability and continuity of occupation, savings and prior credit history. Further, the loan eligibility will also be dependent on the value of property selected by you.

What percentage of property value can be funded?

We can fund up to 90% of the property value in case of Home Loan and up to 60% in case of Loan Against Property. However, PNB HFL funding norms may change from time to time and from property to property or based on the loan amount.

I purchased a property 3 months back; can i get a Home Loan?

Yes, you can avail re-finance at applicable Home Loan rate within 6 months from the date of property purchase.

What is EMI and Pre-EMI?

Your loan is repaid through Equated Monthly Instalments (EMI), which includes principal and interest component. EMI repayment starts from the month subsequent to the month of final disbursement. Pre-EMI Interest is the simple interest, payable every month till the time loan amount is not fully disbursed.

Who can open a FD account with PNB Housing?

Fixed Deposit will be accepted from Resident Individual/ HUFs /Public/Private companies /Non-Resident Indians/ Co-operative Societies / Co-operative Banks/ Trust / Association of person, PF Trust etc.

How is a deposit made?

A prospective depositor has to fill prescribed “Deposit Application Form” along with all KYC documents and an accounts payee cheque/ Demand Draft/ NEFT/ RTGS in favour of PNB Housing Finance Limited. Deposit applications are available at all PNB Housing branches and with its authorized brokers. Deposit forms could be downloaded from company’s website –www.pnbhousing.com.

Does the property need to be insured?

Property insurance is mandatory in order to protect your property against uncertainties like earthquake, fire or any damage and destruction due to natural and man-made calamities, during the tenure of the loan.

What is the minimum amount to place a FD with PNB Housing?

Cumulative Deposit – INR 10000
Non-Cumulative Deposit –
Monthly Income Plan – INR 100000
Quarterly Income Plan – INR 50000
Half yearly Income Plan– INR 20000
Annual Income Plan – INR 20000

What is the range of tenure for which a customer can have a FD account?

If a customer is a resident Indian individual/entity/trust the minimum tenure is 1 year and maximum tenure is 10 years.

Will a customer get any receipt of deposit with PNB Housing?

Yes, PNB Housing will issue FD receipt of the money deposited by a customer with us.

Are Know Your Customer (KYC) documents required for all depositors?

Yes.

Checklist of Know your Customer (KYC) Compliance?

In terms of the Prevention of Money Laundering Act, 2002, the rules notified there under and KYC guidelines issued by the Reserve Bank of India (RBI), every depositor is required to comply with the KYC requirements by submitting the following document:

  • Latest photograph.
  • Certified copy of proof of identity such as Pancard, Aadhar Card, Passport etc.
  • Certified copy of proof of address, for Corporate it is certificate of incorporation, Pancard Registration no. / trust deed.
Can a loan be obtained from PNB HFL against the security of a PNB HFL Fixed Deposit?

Yes, loan facility is available at the discretion of PNB Housing, which can be availed only after three months from the date of deposits and up to 75% of the deposit amount subject to certain terms and conditions. Interest rate on such loans will be 2% higher than the rate of interest on the deposit being paid to depositor.

What is meant by moratorium period?

Moratorium means a payment holiday. This means that during the period of moratorium no payment has to be made by the customer to the lending institution (PNBHFL). The interest which is accrued for the moratorium period shall become payable after the end of moratorium period. Thus this is like a deferment of payment.

What is the material impact of the extension of moratorium?

All loan customers can now avail the moratorium on EMIs payable till August 2020. If customer chooses, he will not be required to pay the EMIs of June, July, August 2020. The repayment will re-start from September 2020 onwards :

  • Those customers who had availed of moratorium during Moratorium 1.0  and not paid the EMIs of March and/or April and/or May, may choose to extend the moratorium and not pay the EMIs of June, July, August 2020 ;
  • Those customers who did not avail the Moratorium 1.0 till 20th May 2020 can avail fresh moratorium, whereby they will not pay EMIs of June, July and August 2020 ;

Please note that like in Moratorium 1.0, the extension of moratorium does not mean “EMI Waiver” as the interest will continue to accrue on the unpaid principal. The accrued interest will be added to the principal outstanding and revised EMI will be payable on the increased principal from September 2020.

What is the impact of moratorium on the terms of the loan?

The impact on terms of the loan is explained below:

  • The Interest for the period of moratorium will be added to the Principal ;
  • The balance tenor of the loan will increase by the period of moratorium availed. Customers who had availed of 3 month moratorium earlier and now extend it by another 3 months, the balance tenor will get extended by 6 months.  Customers who take the moratorium now – the morat will be for 3 months and tenor will also get extended by 3 months ;
  • New EMI will be calculated on the increased POS (point (a) above) and balance tenor (point (b) above).  The New EMI will be payable from September 2020 onwards ;

What is the “Interest on Interest Refund” guideline as released by IBA & RBI?

Supreme Court has pronounced a judgement in March 2021 wherein it has directed that compound / penal interest charged on loans during the moratorium period be refunded. Accordingly RBI directed financial institutions to refund difference between compound and simple interest charged on loan accounts which availed moratorium period of March 2020 to August 2020. Indian Banks Association (IBA) laid down the detailed guidelines in April 21 which are to be followed by institutions.

As part of the COVID-19 package announced by RBI in March 2020 (and extended in May
2020), customers who had a loan outstanding as on 29th February 2020 which was less than 90 DPD as on 29th February 2020 were given a relief of one time moratorium of repayment for a cumulative period of6 months i.e. from March 2020 to August 2020. During the moratorium period, the customers were exempt from making any payment to the lender. During moratorium, the lenders compounded the interest due on a monthly basis. Thus, the loan outstanding at the end of moratorium period included the outstanding principal at the beginning of the moratorium and the compound interest thereon for the months for which moratorium was availed, termed as “Interest on Interest”- difference between the simple interest and the compound interest charged during moratorium period.

PNBHFL had also compounded the interest for the moratorium period for the customers who availed the moratorium. Accordingly the Interest on interest will be refunded.

Which all loans/facilities are eligible for refund under the RBI Circular?

All “standard accounts” have to be given the benefit of relief. The determination date for this purpose is 29th Feb., 2020. That is, the days past due (DPD) status should be less than 90 DPD as on 29.02.2020 (“Eligible Accounts”).
Accounts not eligible for Relief under RBI Circular:

  • Accounts classified as NPA as on 29 February 2020 ;
  • Loan facilities which were charged with simple interest ;
  • Accounts already refunded interest on interest under ex-gratia scheme of Nov’20* ;

Thus,

  • Refund will now be given in those loan accounts (standard as on 29.02.2020) which were left out in the Ex-Gratia 1 scheme of Oct-Nov 2020. This will include ;
    • All Loans* (standard as on 29.02.2020) where the exposure (disbursement) was > INR 2 crore.
    • All Loans* (standard as on 29.02.2020) where the exposure (disbursement) was<= INR 2 crore but the market exposure (basis CIBIL) was > INR 2crores.

    * Both retail and corporate finance loans will be eligible

  • Loans irrespective of whether they availed the moratorium or not will be eligible. However, interest on interest is to be refunded only if it was charged. Not applicable on PNBHFL since no interest on interest was charged in such cases.
If an exposure was standard on 29 Feb 2020 but became NPA in the next few months, will we process refund?

Yes, As loan was standard (not a NPA) on 29/02/2020 and had availed the moratorium, it will be eligible for refund of interest on interest irrespective of the fact that it became a NPA later on.

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