PNB Housing Finance 
Loan Against Property

Here are the key details for the PNB Housing Finance Loan Against Property (LAP):

Here are some of the key benefits of PNB Housing Finance loan against property:

• High-value loans: PNB Housing Loan Against Property loan amount is substantial and directly linked to the value of the property. Depending on your credit profile, you can get a loan amount as high as 70% of the value of the property.
• Low interest rates: PNB Housing Finance loan against property interest rates range from 9.24% to 12.45% p.a. depending on the borrower’s CIBIL score and the type of property.
• High chances of approval: Generally, people who don't have a conventional job or a credit history often find it harder to get conventional loans. In such cases, opting for a PNB Housing LAP increases one's chance of getting the required financial assistance.
• Flexible repayment tenure: The borrowed loan amount can be easily repaid in a maximum tenure of 20 years.
• Other benefits: Personalised doorstep service, various repayment options, customised eligibility program.

PNB LAP interest rates are floating. Below is the table for the current PNB loan against property interest rates:

Depending on the type of property mortgaged by the customer as collateral, PNB Housing Finance Loan Against Property can be further classified into the following three types:

• Loan against commercial property
• Loan against residential property
• Loan against plot (residential/commercial)
• Reverse mortgage loan

Since the cost and the value of different property types are different, the amount of loan provided will also differ. The general policy of PNB Housing Finance is that the maximum loan amount approved will be up to 70% of the property's value. Additionally, depending on the type of loan applied for, the interest rates will also change.

The processing fees and other charges charged for the PNB Housing Finance Loan Against Property are as follows:

PNB Housing Finance Ltd. has specified the following basic eligibility criteria for a LAP:

• The applicant should be a salaried employee, a self-employed professional or a self-employed non-professional.
• The age of a salaried applicant should be at most 60 years at the time of loan maturity. 
• The age of a self-employed professional/ non-professional should be at most 65 years at the time of loan maturity.

Following is the required list of the PNB loan against property documents:

Documents required for salaried employees

• Duly filled loan application form with photograph
• Age Proof (any one): PAN Card, Passport, or any other Certificate from Statutory Authority
• Residence Proof (any one): Passport, Driving License, Election Card, Telephone Bill, Ration Card, or any other Certificate from Statutory Authority
• Education Qualifications: Latest degree
• Income Proof: Latest salary slips for 3 months, Form 16 for last 2 years, last 6 months Bank Statements of salary account
• Property documents: Photocopy of Title Documents of the Property, Approved Plan, etc.
• Processing Fee Cheque: In favour of ‘PNB Housing Finance Ltd.’

Documents required for self-employed/professionals

• Duly filled loan application form with photograph
• Age Proof (any one): PAN Card, Passport, or any other Certificate from Statutory Authority
• Residence Proof (any one): Passport, Driving License, Election Card, Telephone Bill, Ration Card, or any other Certificate from Statutory Authority
• Education Qualifications: Latest degree (for professionals)
• Business Proof: Certificate and Proof of Business Existence along with Business Profile
• Income Proof: Last 3 years' Income Tax Returns (self & business) with Profit & Loss Account and Balance Sheets (duly certified/audited by a Chartered Accountant), last 12 months' Bank Account Statements (self & business)
• Property documents: Photocopy of Title Documents of the Property, Approved Plan, etc.
• Processing Fee Cheque: In favour of ‘PNB Housing Finance Ltd.’