Punjab National Bank is a nationalized bank of India and the Punjab National Bank Housing Finance and Home Loan is fully owned by the bank as a subsidiary. The Home Loan section of Punjab National Bank offers the most customer friendly housing finance and home loan schemes with flexible option for repayment at affordable and attractive interest rates. The Punjab National Bank Housing Loans ensure that the task of buying or constructing of house becomes comfortable and easy for the consumer.
When PNB Gives Loan And Its Loan Types
The Punjab National Bank provides two kinds of home loans — fixed as well as floating, they are available at different rate of interest depending upon the difference in tenure of repayment. The Punjab National Bank Housing Loan is the best option for buying your dream home. The most competitive home loan option in India is the Punjab National Bank Home Loans. It offers loans for various purposes like constructing and purchasing of house; renovation, extension, modification and maintenance of the present flat.
Upto 80% of the total cost of your house or renovation or repairing will be covered by Punjab National Bank Housing Finance. You can take loan upto 10 lacs for purchasing land form the Punjab National Bank. It can give you loan upto 2 lacs for furnishing your house.
Special Feature Of EMI Calculator & Life Insurance Cover
The website of Punjab National Bank offers EMI calculator to help customer calculate the rate of interest, tenure of repayment, amount of installment, etc. so that he can choose the scheme based on his requirement and capacity to pay back the loan. The best part is that Punjab National Bank offers best rate of interest in comparison with any other public sector commercial banks in India. The interest rate is fixed to suit the budget of every person who takes loan.
Punjab National Bank Home Loans offers insurance cover on life by taking an one time premium in order to cover the outstanding loan amount. This is an exclusive feature offered by Punjab National Bank. You just need to pay a lump sum for the payment towards the one time premium, which can be finance by Punjab National Bank as well.
Privileged Group Of People For PNB Housing Loan
The tenure of repayment of loan for Punjab National Bank Housing Loan is 25 years or the person taking loan must repay the loan before he turns 65 years of age which ever is earlier. People who are employed under BSNL, MTNL, OIL, ONGC, MUL, GAIL, IOC, BHEL, IBP, MROL, NTPC, Indian Airlines, Air India, etc. enjoy special benefit of paying lesser amount of interest on the loan.
Securities Needed For PNB Housing Loan
The things that works as security against Home Loan from Punjab National Bank are mortgage of properly which the bank is financing. In case of purchasing house by first power of attorney, one needs to provide security of 125% of the loan amount by mortgaging other properties, Government Securities, Fixed Deposit Receipts of Bank, Kisan Vikas Patras, LIC Policy, Public Sector Undertaking Bonds, National Savings Certificates, Indira Vikas Patras and other related things. If mortgage is not possible for any reason than a contract needs to be signed among the housing society/board, borrower and the bank.
More Information On PNB Housing Loan
If you want to get more information on the Punjab National Bank Home Loan and attractive loan rates, we, Indiahousing is providing you the website link of Punjab National Bank http://www.pnbindia.com. We would like to acknowledge the contribution of Punjab National Bank in the overwhelming growth of India’s Real Estates which happened due to the fact that it has a wide cover of branches and financial network in most of the parts in the country.