Selecting the right financier for your home loan is very important because, with their help, you will fulfil your long-standing dream of owning a house. And, the financial relationship with a financier also lasts for years if not decades.
Therefore, you need the right financial partner with an impeccable reputation, good customer support, strong service delivery, and products that meet your requirements.
PNB Housing Finance stands strong on all these standards and has strong patronage of the country’s leading bank. It has served customers since 1988 and established itself as a preferred point for every housing finance requirement.
Why Choose PNB Housing?
Following are the points showcasing why PNB Housing should be your preferred financial partner for all your housing loan requirements.
- Home Loan Types Offered
PNB Housing focuses on meeting all types of housing loan needs through the following loan types:
- Home purchase loan
- Home construction loan
- Home extension loan
- Home improvement loan
- Residential plot loan
- Unnati home loans
- Pradhan Mantri Awas Yojana- Urban
- Eligibility Criteria
PNB Housing serves almost every category of people, including the salaried, self-employed professional and self-employed.
The home loan eligibility is determined by factors like the borrower’s age, income, occupation, employment status. Apart from all these, PNB Housing requires borrowers age should not be over 70 years at the time of loan maturity.
- Loan to Value (LTV) Ratio
PNB Housing offers the highest LTV ratio on home loans in the industry. For a loan amount of up to Rs 30 lakh, the LTV ratio is 90%. And, for a loan amount ranging between Rs 30-75 lakh and over Rs 75 lakh, the LTV ratio is 80% and 75% respectively.
The borrower needs to bring in a minimum contribution of 10% of the total cost of the property (inclusive stamp duty and registration charges).
- Service Delivery Model
PNB Housing has a robust service delivery model and provides services through its PAN-India network of branches. It offers door-step services to ensure quick approval and easy disbursal of the loan amount.
It also offers an excellent post-disbursement service. You can also enhance your loan limits in the event of escalations in cost.
- Tools & Calculators
PNB Housing offers three calculators, Eligibility Calculator, EMI Calculator and Affordability Calculator.
- Eligibility Calculator: The home loan eligibility calculator helps to determine your eligibility and the quantum of loan you can get
- EMI Calculator: It helps you to arrive at an ideal EMI amount and suitable loan tenure
- Affordability Calculator: It helps you to determine the value of the property you can afford and eligible loan amount based on your employment status and financial background.
- Rate of Interest and Repayment Options
It charges a floating interest rate on the loan issued, which is linked to the benchmark rate of PNBHFR.
The maximum loan tenure is 30 years, and the loan has to be repaid through EMIs, either through post-dated cheques/ electronic clearing system.
Final Words
PNB Housing is one of the leading financiers of the housing loan segment, and it works with the highest standard of ethics, integrity and transparency.
As it specialises in this category, it understands the needs of the borrower and working of this sector better.