pnb housing
July 30th, 2015

A Step by Step Procedure to Get Home Loan in India

Owning a home isn’t just a keystone of wealth, it’s what gives us and our families, stability and emotional security. If you’re hesitant about buying a home because you feel that getting a home loan is a daunting task. Don’t worry! Applying for a home loan is an incredibly simple process.

If you take care of a few important details at the very beginning, securing a home loan is easy.

3 Steps of PNB Housing Loan Process

Step 1: Applying for a Home Loan

  • Place an Inquiry: To being with, you can place an inquiry on the company website which is the easiest way and the company rep will get in touch with you. You can also call on the toll-free number(1800 120 8800) or if a branch is nearby, visit the branch and fill out the home loan application.
  • Documents Required: It’s always helpful if you can keep a few required basic documents handy that will be required for your home loan processing Checklist. Below are the documents required for a home loan which form a basic set of requisites:
    • Age & Identity Proof
    • Residence Address proof
    • Income Proof i.e. salary slips, form 16, income tax return
    • Obligation Details with the statement of accounts
    • Property Documents, if the property is finalized i.e. Allotment letter of agreement of sale & previous property chain link documents if the property is being resold
  • Doorstep Service – Documents Pick Up: The branch rep will make a visit to the place of your convenience, collect the documents and will submit them along with the processing fee.

Must Read: How to Increase Home Loan Eligibility?

Step 2: Home Loan Sanction

  • Determining the Financial Eligibility: The lender will use the information provided by you to determine your financial eligibility based on your income, age, existing loans, and their repayment track, and the same will be subject to the positive residence and office verification.
  • Property valuation: Once your financial eligibility is determined, the lender will also assess the property value to arrive at the final eligibility.
  • Legal Valuation: The lender would carry out Legal verification to ensure your property is clear from any legal encumbrances.
  • Pre-Finalized Home Loan: You can also go for a pre-approved home loan even before you have the property.

Step 3: Home Loan disbursement

  • Signing the Home Loan Agreement: You are now ready to sign the home loan agreement. All that’s left is for you to submit your original property documents, a few postdated cheques, and the loan agreement.
  • Disbursement: That’s it! The lender will issue a cheque in the favor of the seller/builder and your dream home is a reality now. Your EMI commences from the day of disbursement.

Top-up / Loan Enhancement

Hang on, there is more – If at any time during your loan tenure, you need a top-up or enhancement on your home loan, you can avail of that too. Just call your representative or the toll-free number with your requirement and based on a few checks, a loan enhancement or a top-up loan will be issued.

It takes around 5-8 days to complete the entire process from the day you submit your documents to avail of disbursement.

Must Read: What is a Home Loan Top-Up?


We at PNB Housing Finance Limited make this easy process even easier with customer-friendly features like instant loan approval & doorstep services that help you complete this home loan process while you lean back on your recliner and witness the journey to your permanent dream house become an easy accomplishment.

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