Home Construction Loan

The experience of constructing your dream home is unparalleled. After all, who does not want to be the architect of their dreams? But rising construction costs can cause uncertainty in your home construction plans. 

This is where we, at PNB Housing, bring you an affordable, hassle-free and convenient home construction loan offering at the most competitive home loan interest rates and nominal fees – So that you can plan your construction and your finances better. Use our EMI calculator and get in touch with us today!

What is Home Construction Loan?

A home construction loan is a type of home loan that allows customers to obtain the necessary funds to finance the construction of residential house property on a piece of land. 

We bring over 30 years of expertise in home loans and our customers have been able to expedite their home construction at competitive construction home loan interest rates, affordable EMIs and a hassle-free online application process.

Features & Benefits of Home Construction Loan

  • Customised Construction Loan Offerings – We tailor our offer to suit your budget, home loan eligibility and construction requirement. Kickstart your home construction process with an ample construction home loan amount and a flexible tenure of up to 30 years. This way, you can construct your dream house within the optimum time frame and cost.
  • Quick and Smooth Construction Loan Disbursal – With PNB Housing, say goodbye to delays and obstacles in your construction loan approval and disbursal. Our doorstep services and the online application process ensure easy and swift approval and disbursal of loans.
  • Easy Top-Up Loan Option for all Construction Needs – Home construction costs escalating? You can rely on easy top-up loan options and refinance your existing loan to your needs.
  • World Class Post Disbursement and Customer Services – We offer an excellent pan-India branch network so that our customers are always within arm’s reach. We provide a dedicated team of experienced employees, state-of-the-art information systems and coverage for ultimate customer satisfaction – all tuned to the highest standards of ethics, integrity and transparency. With the PNB Housing Customer care portal & mobile app, customers can register themselves for a hassle-free online post disbursement service.
  • Multiple Repayment Options – Pay your EMIs or pre-payments using multiple repayment options.

Eligibility Criteria for Construction Loan

At PNB Housing, we have relaxed eligibility criteria for construction home loans. You can also check your eligibility using the home loan eligibility calculator.

  • Indian citizenship
  • Minimum 3 years work experience for salaried applicants and 5 years business continuity for self-employed
  • Minimum CIBIL score 611

Documents Required for Home Construction Loan

KYC Documents 

KYC documents are mandatory for obtaining a housing loan unless you are already an existing customer. These provide essential information about the applicant, such as age, address, income, employment, income tax, etc. Remember that the home loan document requirements differ slightly for salaried and self-employed applicants.

List of Documents Required for Salaried

  • Address Proof –  Aadhar card, Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority 
  • Age Proof – PAN Card, Passport, Any other Certificate from Statutory Authority
  • Income Proof – Includes salary slips for last 3 months, Form 16 for the previous 2 years, and the latest 6 months bank statement

List of Documents Required for Self Employed

  • Address Proof – Aadhar card, Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority
  • Age Proof – PAN Card, Passport, Any other Certificate from Statutory Authority
  • Income Proof – Pertaining to business and ITR, such as proof of business existence, last 3 years income tax returns, accountant-certified balance sheets, and last 12 months bank account statement. For a Home construction loan, Financial institutions also require an approved sanction plan from the authority.

4 Steps to Apply for PNB Housing Home Construction Loan

  1. Visit the website and click on ‘Contact Us for Home Construction Loan’. 
  2. Enter details such as name, contact number, email, location and requested loan amount.
  3. Tick the agreement to allow our representatives to get in touch.
  4. Our representative will connect with you to further your application.

Alternatively, you can also apply for an instant home construction loan here. 

Instant Loan in 3 minutes – Apply now