#1
May 5th, 2016, 04:26 PM
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Eligibility for Home Loan in PNB
Hello sir I am planning for Home and for that I am thinking of applying for Housing Loan in Punjab National Bank and I am here as I want to know what is the eligibility criteria required for this Loan Scheme of this Bank??
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#2
May 5th, 2016, 04:29 PM
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Re: Eligibility for Home Loan in PNB
Punjab National Bank is an Indian multinational banking and financial services company. It is a state-owned corporation based in New Delhi, India. Founded in 1894, the bank has over 6,300 branches and over 7,900 ATMs As you want to apply for Housing Loan so below I am providing you information related to this Loan Scheme: Objective To ensure availability of Housing Loan at attractive rates and ensure a house for all Purpose -For construction of house/ flat; -For purchase of built house/flat. -For purchase of under construction house/flat from Housing Boards/ Development Authorities/ Co-operative Societies/ Approved Private Builders/ Projects -For carrying out Additions to the house/flat. -For carrying out repairs/ renovation / alterations/ cost of furnishing to the house/flat -For meeting cost escalation in the cases of under-construction flats to existing Housing Loan borrowers. -For purchase of land/plot for house building Eligibility Individuals or Joint owners. Quantum of Finance For Construction/Additions/Purchase of House/Flat: Need based loan depending upon the project cost and repaying capacity. For purchase of Land/ Plot for House Building: Maximum Rs.100 lacs for State Capitals and Metro and Rs. 50 lacs for other centers; (Higher amount may be considered on individual merit of case) For repairs / renovation / alterations: Maximum Rs.25 lac. Cost of furnishing may be included in the project cost with maximum upto 10% of eligible Housing loan with a maximum upto Rs.5.00 lac. Margin (Borrower’s contribution) Housing Loan Upto Rs.75 lac: 20% Housing Loan Above Rs.75 lac: 25% Purchase of Land/Plot for House Building: 25% Rate of Interest Under floating Rate option: @ Base Rate Under fixed rate option: @ Base Rate+0.50% Processing Charges/ Upfront fee Upto Rs 300 lacs: 0.50% of loan amount, max Rs 20000/- exclusive of service tax Above Rs 300 lacs: Rs 50000/- exclusive of service tax For getting more information here I am attaching an attachment: |
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