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Home » Punjab Property Dreams: Your complete home loan guide for every part of the state – everything you need to know.

Punjab Property Dreams: Your complete home loan guide for every part of the state – everything you need to know.

INTRODUCTION

 

Punjab which is famous for its rich culture as well as an active social life is witnessing steady rise in real estate business. This is evident due to the rising development witnessed in cities such as Chandigarh, Ludhiana and Amritsar among others in the country which has created a demand for home loans.PNB gives home loans 8. Interest rates of 50% p a. onwards for tenures of up to 30 years and loan amounts of up to 90% of the property’s value. Roshni home loans are there in PNB Housing Finance that gives affordable housing loan schemes for low-income applicants having adequate home loan repayment capacity, with or without valid proof of income.

 

PNB Housing Finance offers Home Loan that can be classified into the following categories.

 

PNBHFL Home Purchase Loan

  • Purpose: It provides the standard home loans for purchase of land, construction, renovation and even extension of dwelling units
  • LTV Ratio: Up to the 90% of the property’s value
  • Tenure: for up to thirty years

 

PNBHFL Home Construction Loan

  • Purpose: It means consumers can get access to housing finance from PNB Housing Finance so that they can build their houses – Home Construction Loan.
  • Tenure: Depending on the soil depth the structures can remain undisturbed for up to 30 years.

 

PNBHFL Home Extension Loan

  • Purpose: Candidates interested in Home Extension Loans can contact PNB Housing Finance as the company provides such services to those for expanding the house.

 

PNBHFL Home Improvement Loan

  • Purpose: Home Improvement Loan is provided by PNB Housing with an aim to do upgradation/repair/tiling/flooring/roofing/water-proofing/plumbing/false-ceiling/electrical work/wood work of existent residential home.

 

PNBHFL Residential Plot Loan

  • Purpose: PNB Housing Home Loan applicants can avail Plot Loan to raise funds for the purchase of residential plot in urban areas.
  • LTV Ratio: Up to 70-75% of plot’s market value 

 

PNBHFL Home Loan for NRIs – PNB HFL

  • Purpose: NRI Home loans is a beautifully designed financial plan from PNB Housing for NRIs and PIOs to fulfill their dream of buying, building, extending, renovating or repairing a house in India.

 

PNBHFL Roshni Home Loan

  • Purpose: PNB Housing Roshni Home Loan is offered to the new income tax assessees who are first-time borrowers or self-employed individuals with informal income and income from a Low/Middle-income group and having a minimum monthly household income Rs. 10000/-.
  • Loan Amount: Starting from 5 lakhs and going up to 50 lakhs.
  • LTV Ratio: In many cases, the utilization of ED can range as high as 90%.
  • Tenure: he insisted on between 15 to 30 years.

 

Options for Loans / Banks / NBFCs

 

Banks / Nbfc R.O.I Processing Fees Loan Amount Cibil Score Apply Now
HDFC Bank Home Loans 8.45% – 10% (Reducing Per Annumn) 0.5% – 1% 5.00 Lacs and above 650 or above https://referloan.in/loans/hdfc-bank-home-loan
Bajaj Housing Finance Home Loan 8.45% – 10% (Reducing Per Annumn) 0.2% – 0.5% 5.00 Lacs – 75.00 cr 650 or above https://referloan.in/home-loan/bajaj-housing-finance
PNB Housing Home Loan 8.75% – 14% (Reducing Per Annumn) 0.25% – 0.5% 5.00 Lacs – 20.00 cr 625 or above https://referloan.in/loans/pnb-hfl-loan-home-loan
Mahindra Finance Home Loan 9% – 15% (Reducing Per Annumn) 1% – 3% 3.00 Lacs – 75.00 Lacs 650 or above https://referloan.in/loans/mahindra-finance-home-loan

 

General Eligibility and Document Required for This Type of Loan 

 

Eligibility

 

  • Age: These ailments seem to have affected the aged population which is between the ages of 21 and 65 years.
  • Income: Sufficient for the Repayment of loan EMIs and administratively stable to mitigate any internal ineffectiveness.
  • Credit Score: A good credit rating which is above 700.
  • Employment: Continuous, long term and secure source of income for a wage earner or a satisfactory business returns for a wage earner.
  • Property: This particular kind of property should meet the standard set by the lender insofar as valuation as well as legal and compliance reviews are concerned.

 

For PNBH NRI Home Loans

  • Applicant should be Indian citizen or Person of Indian Origin holding an Indian passport with status of NRI on employment, deputation and assignment.
  • Maximum age: Up to 70 years at the time of loan maturity
  • Work experience: At least 1 year in a foreign country (the condition of minimum service over one year is not applicable to applicants going abroad on deputation)

 

Documents Required:

  • Proof of Identity: PAN card, Aadhaar card.
  • Address Proof: any utility bill or rent agreement.
  • Business Proof: Registration certificate, the business license.
  • Bank Statements, Income Tax Returns, and Profit & Loss

 

How Referloan Can Help 

 

 ReferLoan is among the rapidly advancing businesses of the Indian nation. It serves all sorts of financial needs through banking and non-banking segments where it interconnects the clients as per the need.

 

This is how ReferLoan can help!

 

  • Comparison of Multiple Lenders: It is important to compare interest rate, processing fees and other charges of the loan offered by different lenders.
  • Expert Guidance: Consult with financial experts to go for the best loan product to apply for.
  • Quick Processing: Instantly expedite your loan process while you provide little to no papers.
  • Customer Support: Special service to help you during the whole process of borrowing.

 

Frequently Questions 

  • What is the least credit score that PNB Housing expects one to have any time one is applying for home loans?

 

It was also identified that the applicants who approached the PNB Housing Finance to avail the home loan should have a credit score of at least 611 so as to avail the loans.

  • Is it possible to have two home loans, at the same time from PNB Housing Finance?

 

On an average, it may take about 5-7 days for approving home loan applications of PNB Housing. However, if an applicant declined to produce the documents of income or the property then it will take time to approve.

  • What is the average time that is taken for the home loan approval?

 

It normally regulates 5-7 days to approve home loans for the people who apply for home loans in PNB Housing. But in case the applicant does not attach or produce the income or property documents then it may take some time for approval.

  • Do you offer joint home loans for purchase?

 

Yes, you can apply for a joint home loan with any of your immediate relatives with PNB Housing Finance readily approving your application. Joint home loans are preferred and many a time get approval much easier than many individual home loans. joint home loan can also increase the maximum possible income tax deduction possible while availing the loan.

  • What is the best way to apply for home loan in PNB Housing?

 

Those who seeking a home loan for their prospective home can use PNB Housing Home Loan via online portal of the company. The concerned persons can also contact through phone or sms on the toll free number of PNB Housing Finance. However, those interested can contact the PNB Housing Home Loan or can choose the Home Loan after comparing the interest rates provided by different companies.

 

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