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Loan Against Property - PNB Housing advantage
Loan Against Property
Interest Rate
Loan Against Property
Eligibility Criteria
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You should either be a salaried employee or a self-employed professional/non-professional.
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Your age should not be more than 60 years if you are a salaried employee, and not more than 65 years if you are a self-employed professional/non-professional, at the time of loan maturity.
Loan Against Property
Documents Required
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Duly filled Application Form with Photograph
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Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
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Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
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Education Qualifications – Latest Degree
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Latest Salary-slips for 3 months
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Form 16 for last 2 years
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Last 6 months Bank Statements(salary account)
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Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’
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Photocopy of Title Documents of the Property, Approved Plan
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Duly filled Application Form with Photograph
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Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
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Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
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Education Qualifications – Latest Degree (for professionals)
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Certificate & Proof of business existence along with Business Profile
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Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
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Last 12 months Bank Account Statements (self & business)
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Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’
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Photocopy of Title Documents of the Property, Approved Plan etc.
Big Milestone of my life has been achieved. It took collective efforts of 2 generations, young and old. However, it still wasn't enough to acquire the home by ourselves. Yourself, Vivek and PNBHF team's timely entry to the situation helped us complete our home buying mission. You reached me immediately when I logged a request on your portal, documents were collected, process was explained very well and disbursement was also very convenient. Seller side was also not expecting this to be a smooth affair, but even they were surprised how smooth everything was done. I must admit, another competing bank also reached out to me offering lower ROI, however, looking at the relationship we built and your response impressed me and hence, as a reciprocal gesture, I had to get the home loan from your bank. Thank you once again. Hope to have a pleasant experience during the EMI and prepayment journey for my home loan.
“Thanks for providing excellent support and exhibiting swiftness in getting my Home Loan approved and disbursed in 5 working days. Really appreciate the efforts in making this happen in such a short time span! Hats off to the PNB HFL team.”
Thank you for the support extended for sanctioning my loan for purchase of Plot in a swift and smooth manner. Really appreciate the way things were handled and in a short span of time. I will definitely recommend you to any of my friends/well wishers looking for a home loan.
This is to place on record my appreciation for highly prompt and efficient service provided by PNB Housing Finance in not only sanctioning House loan for a property but also in timely disbursal of the first part of the loan. I would like to compliment the entire team.
Thank you very much for helping me to get a home loan and for a rapid action. I really appreciate the prompt responses and immediate delivery. I like the services and will refer to my friends who might need a home loan
I wish to express my sincerest thanks and heartiest appreciation for your great customer orientation, supportive nature and diligence which I experienced during my home loan processing.
I must say that such professionalism makes public confidence soar high in favour of PNB HFL in today’s world of stiff competition.
I would like to take this opportunity to thank you for all for your help during the loan sanctioning process across the last two weeks.
Based on my experience interacting with you over the past few weeks, I can confidently state that PNB Housing has certain unique qualities that will surely propel you forward. The strongest one being your ability to be a trusted business advisor to your customer. You have an emotional quotient that enables you to go beyond transactional relationships and this will stand you in good stead in your current job.
I especially appreciate the fact that you understood that I was travelling tomorrow and you were open to coming home so late in the night tonight to collect the required documents. In doing this, not only do you improve the bonds with your potential customer, but also you project a superior image of PNB Housing Finance
Thanking you once again for all your help and wishing you all the best in your future endeavours.
Recently I had applied for Home Loan from PNB Housing Fin. Ltd., Nagpur to purchase a flat. My case was processed very speedily & to everybody’s surprise I got the sanction letter from your company in less than two weeks.
Generally customers have a perception of PSU institutions where they feel that delay is inbuilt part of the process, but your team has negated the misconception. I want to place on record the effort taken by your team & particularly Sh. Rajesh Belsare, who even at odd hours visited my office & residence to collect the documents etc., and also helped to sort out various legalities so to process the case faster. I also saw that everybody in your office was more than eager to provide information relevant to my case and guide accordingly.
I congratulate you & your team who has shown that PSU institutions are as efficient as any professionally managed private financial institutions, to serve the customers.Abhishek Srivastava
I would like to take a few minutes to appreciate the quality of service provided by PNB HFL during our recent home loan application. There were tight deadlines with the developer and it had been a lengthy process in the past as a NRI. But, from the outset PNB HFL- Mr Devendra Singh and his team were very prompt and moved things quickly. Many documents were required and reviewed during the home loan application. But everything was done in a speedy and transparent manner. The status updates right from initial application through the underwriter’s query were helpful. While signing the final documents, branch Manager Mr Nilay Bhargava, courteously assured us of the first disbursement within a short time frame. It was a pleasure to see that his team were committed to their word and delivered the first cheque to the builder within the schedule, as promised. Mr Devendra Singh’s customer service through the whole process was quite exemplary.
I have worked with many mortgage lenders in India and the UK. The level of service and diligence experienced with PNB HFL is among the top few and it has continued through the 3rd disbursement. I will gladly recommend this team at PNB HFL to friends and colleagues.
I wish your team continued success at PNB HFL.
I would have sent this mail to the Chairmen or CEO’s of PNB Housing if I would have known their email ids’. I just want to convey my regards and thank to the entire Chandigarh PNB HFL team for their customer centricity. I am short of words while writing this email, but it will be my advocacy to recommend PNB HFL.
The bridge to connect myself to PNB Housing was Mr. Rahul Taneja and it was my first ever instance to experience any kind of loan, but Mr. Rahul Taneja took away my worries, which I used to have. His polite, polished and professional way to deal with every client is awesome and I will describe him as a true asset to the organization.
During my all interactions with the organization I could always sense a feeling of respect and value for the customer and the same was remarkable with all of my interactions with Ms. Ruchi Gupta. I really appreciate her timeliness and cooperative way to deal with a customer.
A true customer service expert Ms. Sonia, her welcoming gesture is more than a demand draft. She is undoubtedly more than prompt in replying to any email, resolving an issue or reverting any query of the customer.
Above all, Mr. Sanjai Singh guided like a guardian and not like a professional. I remember the instance when I asked him to pre-close my loan, rather than offering me lucrative deals he guided me like an elder brother
“YOU ALL HAVE HELPED ME TO MAKE MY HOME”
You are a wonderful Team. Best of Luck!!!
Loan Against Property
Frequently Asked Questions
1. What is a Loan Against Property (LAP)?
A Loan Against Property is a secured loan where you pledge your residential or commercial property as collateral to raise funds for personal or business needs. You retain ownership and usage of the property while repaying the loan.
2. How does a Loan Against Property work?
The lender evaluates your property’s market value and offers a loan amount based on a percentage of that value (Loan-to-Value ratio). The property remains mortgaged until the loan is fully repaid.
3. What purposes can a Loan Against Property be used for?
Funds can be used for business expansion, education, medical expenses, debt consolidation, weddings, or any other legal purpose. There are generally no restrictions on end-use except for speculative or unlawful activities.
4. Who is eligible for a Loan Against Property?
Eligibility typically includes:
• Salaried individuals: Stable income, age 21–60 years.
• Self-employed/business owners: Age 25–65 years, business continuity of 3+ years.
• Clear property title and acceptable credit profile.
5. What types of properties are accepted as collateral/security/mortgage?
Most lenders accept:
• Residential property (self-occupied or rented)
• Commercial property
• In some cases, industrial property (subject to policy)
6. How much loan can I get against my property?
Loan amount usually ranges from 50% to 70% of the property’s market value, depending on property type, location, and lender policy.
7. What is the Loan-to-Value (LTV) ratio for LAP?
LTV ratio is the percentage of property value that the lender finances. For residential properties, it’s typically between 60–70%, and for commercial properties, LTV ratio generally stands around 50–60%.
8. What is the tenure for Loan Against Property?
Tenure usually ranges from 5 to 20 years, depending on lender policy and applicant age.
9. What documents are required for LAP?
PNB Housing requires the following documents for a Loan Against Property:
For Salaried Applicants
• Duly filled application form with photograph
• Age proof: PAN Card, Passport, or any certificate from a statutory authority
• Residence proof: Passport, Driving License, Telephone Bill, Ration Card, Election Card, or similar statutory certificate
• Education qualification: Latest degree
• Income proof: Last 3 months’ salary slips and Form 16 for the last 2 years
• Bank statements: Last 6 months (salary account)
• Processing fee cheque in favor of “PNB Housing Finance Ltd.”
• Property documents: Photocopy of title documents and approved plan
For Self-Employed/Professionals
• Duly filled application form with photograph
• Age proof & residence proof (same as above)
• Education qualification: Latest degree (for professionals)
• Business proof: Certificate & proof of business existence along with business profile
• Income proof: Last 3 years’ Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
• Bank statements: Last 12 months
• Processing fee cheque
• Property documents: Title documents and approved plan
All documents must be self-attested.
10. How is EMI calculated for LAP?
EMI depends on loan amount, interest rate, and tenure. Use an online EMI calculator for accurate estimates before applying.
11. What happens if I default on LAP?
In case of default, the lender can initiate recovery proceedings and auction the pledged property under applicable laws. Always borrow within your repayment capacity.
12. Is my property ownership affected during the loan?
No, you continue to retain ownership of the property and may use it as usual. However, the lender holds a legal charge over the property as security for the loan, which remains in effect until the loan is fully repaid.
13. What is the difference between LAP and Home Loan?
Home Loan: Designed for the purchase or construction of residential property.
Loan Against Property (LAP): Enables you to raise funds by mortgaging an existing property. Unlike home loans, LAP offers flexible end-use and is not restricted to property-related purposes.
14. How long does it take to process a LAP?
Processing time varies by lender and documentation completeness. With proper documents, approval can take 3–7 working days.
15. Can I get a top-up on my Loan Against Property?
Yes, many lenders offer top-up loans on existing LAP accounts, subject to eligibility and property valuation.
16. What factors affect LAP eligibility?
Key factors include:
• Property value and legal status
• Applicant’s income and repayment capacity
• Credit score (preferably 700+)
• Age and employment stability
17. Can I transfer my existing LAP to PNB Housing (Balance Transfer)?
Yes, you can transfer your existing LAP from another lender to PNB Housing for better terms, subject to eligibility and documentation.
18. What is the minimum and maximum loan amount for LAP?
PNB Housing offers Loan Against Property up to 70% of the property’s market value. While the exact minimum amount isn’t explicitly stated, LAP typically starts from ₹8 lakh, depending on property valuation and eligibility.
19. Can I mortgage a jointly owned property for LAP?
Yes, jointly owned properties can be mortgaged, provided all co-owners agree and sign the loan documents.
20. Is insurance mandatory for LAP?
Insurance is not mandatory, but PNB Housing strongly recommends insuring both the property and the loan repayment for customer safety. They have tie-ups with multiple insurers to provide property and loan protection plans. Participation is voluntary and not linked to loan approval.
21. Can I apply for LAP without income proof?
Generally, income proof is required to assess repayment capacity. However, PNB Housing suggests alternatives if standard documents are unavailable:
• Apply with a co-applicant who has valid income proof.
• Maintain a strong banking history and relationship with the lender.
• Opt for a lower Loan-to-Value ratio to reduce risk. Approval without income proof is exceptional and subject to internal policy.
22. How to apply for Loan Against Property from PNB Housing Finance?
You can apply for a Loan Against Property through any of these convenient options:
• Online: Visit the PNB Housing website, go to the Loan Against Property section, and click on “Apply Now.” Fill in your details and submit the form.
• Branch: Visit the nearest PNB Housing branch with your documents.
• Customer Care: Call the toll-free number or request a callback through the website.
After submission, PNB Housing will verify your documents, assess property value, and process your application for approval and disbursal.
23. Why should you choose PNB Housing Finance’s Loan Against Property?
PNB Housing Finance offers several benefits:
• High Loan Amount: Up to 70% of property value.
• Competitive Interest Rates: Starting from 8.75*% p.a.
• Flexible Tenure: Up to 20* years.
• Quick Processing: Fast approval and disbursal.
• Transparent Charges: No hidden fees.
• Trusted Brand: Backed by decades of experience in housing finance.
- a. As regards deposit taking activity of the Company, the viewers may refer to the advertisement in the newspaper/ information furnished in the application form for soliciting public deposits.
- b. The Company is having a valid Certificate of Registration dated 31.07.2001 issued under Section 29A of the National Housing Bank Act, 1987. However, the Reserve Bank of India or the National Housing Bank does not accept any responsibility or guarantee about the present position as to the financial soundness of the Company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/ discharge of the liabilities by the Company.
- c. Terms and conditions apply. All loans are at the discretion of the Company. Other fees and charges are applicable. For further details, refer website of the Company, www.pnbhousing.com | CIN: L65922DL1988PLC033856.