PNB LOAN AGAINST PROPERTY

PNB Housing offers loans against property secured by your residential or commercial immovable assets. These loans come with a host of advantages, including flexible repayment options, and competitive interest rates.

ADVANTAGES

Wide Range of Non-Home Loan Products: Includes loans for the purchase and construction of commercial property, loans against residential and commercial properties, and lease rental discounting.
Experienced Team: A dedicated team ensures seamless service delivery using advanced information systems to enhance customer satisfaction.
Loan Enhancement Facility: Provision to increase the loan amount in case of cost escalations.
Ethics and Transparency: High standards of integrity, ensuring a trustworthy process.
Efficient Service Delivery: Doorstep services for quick approvals and loan disbursals.
Flexible Repayment Options: Multiple repayment plans to suit diverse financial needs.
Post-Disbursement Support: Excellent support services after loan disbursement.
Nationwide Accessibility: Extensive branch network across India for customer convenience.

LOAN AGAINST PROPERTY ELIGIBILITY CRITERIA

Applicants must be either salaried employees or self-employed professionals/non-professionals.
Age Limit:
- For salaried employees: Maximum age at loan maturity should not exceed 60 years.
- For self-employed professionals/non-professionals: Maximum age at loan maturity should not exceed 65 years.

LOAN AGAINST PROPERTY PROCESS

Loan Amount: You can avail up to 70% of the property’s market value. Loan eligibility is determined by considering factors like income, age, qualification, and occupation. The combined income of the borrower(s) and co-borrower(s) can also be taken into account.

Loan Disbursement: The loan is disbursed in a lump sum directly to the customer’s bank account after:

Technical appraisal of the property.
Completion of all legal documentation.

Insurance and Customer Safety: PNB Housing recommends insuring your property and loan repayments to safeguard against unforeseen events during the loan tenure. For added convenience, PNB Housing has partnered with leading insurance providers to offer tailored insurance solutions at your doorstep.

LOAN AGAINST PROPERTY INTEREST RATES

The interest rates for Loan Against Property (LAP) are based on floating rates and vary according to the applicant’s credit score and the type of property.

Credit Score	Commercial Property	Residential Property (LAP)	Plot/Special Property*
>= 825	9.24% – 9.74%	9.24% – 9.74%	9.24% – 9.74%
> 800 to 825	10.00% – 10.50%	10.00% – 10.50%	10.00% – 10.50%
> 775 to 799	10.30% – 10.80%	10.30% – 10.80%	10.30% – 10.80%
> 750 to <= 775	10.90% – 11.40%	10.90% – 11.40%	10.90% – 11.40%
> 725 to <= 750	11.30% – 11.80%	11.30% – 11.80%	11.30% – 11.80%
> 700 to <= 725	11.75% – 12.25%	11.75% – 12.25%	11.75% – 12.25%
> 650 to <= 700	11.95% – 12.45%	11.95% – 12.45%	11.95% – 12.45%
<= 650	11.95% – 12.45%	11.95% – 12.45%	11.95% – 12.45%
NTC CIBIL >= 170	11.95% – 12.45%	11.95% – 12.45%	11.95% – 12.45%
NTC CIBIL < 170	11.85% – 12.35%	11.85% – 12.35%	11.85% – 12.35%

Overall Interest Rate Range: 9.24% – 12.45%
Fixed Rate for Non-Home Loans: 15.25%

Notes:

- Special properties include educational institutes, hotels, schools, hospitals, and industrial sheds.
- The rates are subject to revision at the sole discretion of PNB Housing.
- NTC: New-to-Credit customers.

PNB HOUSING COMMERCIAL PROPERTY LOAN

PNB Housing Finance offers loans of up to 70% of the commercial property purchase price, providing financial support for buying or constructing commercial properties like office spaces and shops in approved areas.

Key Features and Benefits

Extensive non-home loan options, including loans for the purchase and construction of commercial property, lease rental discounting, and loans against residential/commercial property.
Nationwide branch network for accessibility across India.
Doorstep services for quick loan approvals and disbursals.
Loan enhancement facility for escalating property costs.
High ethical standards, transparency, and integrity.
Flexible repayment options and excellent post-disbursement services.

Interest Rate and Loan Amount

Interest Rate: Starting at 9.25% for non-residential property purchases.
Loan Amount: Up to 70% of the property’s purchase value or the eligible loan amount, whichever is lower. Eligibility is calculated based on income, age, qualifications, and occupation. Co-borrower income can also be considered.

Customer Contribution

A minimum contribution of 30% of the total property cost, including stamp duty and registration charges, is required from the borrower.

Commercial Property Loan Disbursement

The loan disbursement process for commercial property involves the following steps:

Property Appraisal and Documentation: Disbursement is initiated after a thorough technical appraisal of the property and completion of all required legal documentation.
For Resale Properties: In the case of a resale property purchase, the loan amount is disbursed in a lump sum directly to the seller at the time of transfer, provided the customer has contributed their share of the cost.
For Under-Construction Properties: For properties under construction, the loan amount is disbursed in stages, based on the progress of construction.
Customer Contribution: The customer must invest their proportionate share of the property cost before the loan is disbursed.
Disbursement Options: The loan amount can be disbursed either in a lump sum or in instalments, depending on the requirements of the development authority, society, or private builder.

Loan Repayment

Repayment is made through Equated Monthly Installments (EMI) over a maximum period of 15 years. EMIs consist of principal and interest, payable via post-dated cheques or the Electronic Clearance System (ECS).

Insurance and Customer Safety

PNB Housing encourages borrowers to insure their property and loan repayments for added security during the loan tenure. PNB Housing has partnered with leading insurance providers to offer customized insurance plans tailored to borrower needs.

LEASE RENTAL DISCOUNTING (LRD)

PNB Housing offers loans against assured rental income from properties leased to banks, corporations, and government entities. This rent securitization scheme provides financial flexibility for property owners.

Key Features

Eligibility: Properties in metro/urban/semi-urban areas rented to reputed lessees like banks, PSUs, and corporates.
Loan Amount: Up to 80% of future rent receivables for a maximum tenure of 10 years or the lease period.
Interest Rate: Starting from 9.25% (floating rates).
Guarantor: For corporate borrowers, personal guarantees from promoters/directors are required.

Advantages

Doorstep service for quick approvals and disbursals.
Nationwide branch network for convenience.
Facility to enhance loan amounts for cost escalations.
Transparent processes and flexible repayment options.

Loan Disbursement and Repayment

Loan disbursed after property appraisal and documentation.
For under-construction properties, disbursed in stages based on progress.
Repayment through an escrow account over 120 EMIs or the lease period, with rental income directly credited to PNB Housing.

Insurance

PNB Housing recommends insuring properties and loan repayments for added security. Partnerships with top insurance providers ensure tailored solutions at your convenience.

Lease Rental Discounting: Interest Rate

Credit Score	Interest Rate (Lease Rental Discounting – LRD)
>= 825	9.24% – 9.74%
> 800 to 825	10.00% – 10.50%
> 775 to 799	10.30% – 10.80%
> 750 to <= 775	10.90% – 11.40%
> 725 to <= 750	11.30% – 11.80%
> 700 to <= 725	11.75% – 12.25%
> 650 to <= 700	11.95% – 12.45%
<= 650	11.95% – 12.45%
NTC CIBIL >= 170	11.95% – 12.45%
NTC CIBIL < 170	11.85% – 12.35%

Documents Required for Commercial Property Loans and LRD

Completed application form with a photograph.
Identity and address proof (PAN, Aadhaar, passport, etc.).
Income tax returns for the last three years.
Bank statements reflecting rental credits (for LRD).
Property title documents, approved plans, and lease deeds.
Processing fee cheque favouring PNB Housing Finance Ltd.

PNB Housing Finance’s commercial property loans and lease rental discounting solutions are designed to offer flexible financing, transparent terms, and seamless processing for all your commercial investment needs.

LOAN FOR REAL ESTATE DEVELOPERS

PNB Housing provides Construction and Project Finance to real estate developers, offering tailored solutions for project acquisition and construction costs. Focused on residential projects, these loans are designed to support growth in the retail mortgage sector with customized and efficient financing options.

Frequently Asked Questions

What is a Loan Against Property (LAP) offered by PNB Housing?

A Loan Against Property (LAP) allows you to secure a loan by pledging your residential or commercial property. The loan can be used for personal or business purposes, with financing up to 70% of the property’s market value.

What is the interest rate for a Loan Against Property with PNB Housing?

The interest rate starts at 9.24% and varies based on the property type, loan amount, and credit score. For example, customers with credit scores >=825 may qualify for the lowest rates, while scores <=700 may incur higher rates up to 12.45%.

What are the requirements to qualify for a Loan Against Property?

Eligibility depends on your employment type and age:

Salaried Employees: Maximum age of 60 years at loan maturity.
Self-Employed Professionals/Non-Professionals: Maximum age of 65 years at loan maturity.
Loan eligibility also considers factors like income, qualification, and occupation.

How is the loan disbursed, and what is the maximum loan amount?

The loan is disbursed after technical and legal appraisal of the property. The maximum loan amount is up to 70% of the property’s market value. Disbursement is made directly to your bank account, either in lump sum or instalments.

Does PNB Housing provide insurance options for Loan Against Property?

Yes, PNB Housing recommends insuring your property and loan repayments for added safety. They have partnered with leading insurance companies to offer convenient and comprehensive insurance solutions tailored to your needs.