PNB offers loans against property @ 10.40% p.a. onwards for loan amounts up to INR 5 crore and for a period of up to 10 years. The loan proceeds cannot be used for real estate investments and speculative purposes like shares, stocks, commodities, bullion, securities, etc.
| Punjab National Bank Loan Against Property Highlights | |
| Interest Rates | 10.40% – 12.75%p.a. |
| Loan Amount | INR 2 lakh- INR 5 crore |
| LTV Ratio | Up to 65% of property value |
| Tenure | Up to 10 years |
| Processing Fee | 0.75% of the loan amount (Max. INR 1 lakh) |
| Minimum Income | For Salaried: INR 25,000 p.m.Other than Salaried: INR 3 lakh p.a. |
Processing Fees & Charges
| Processing Fee | 0.75% (Max INR 1 lakh) |
| Documentation Charges | For loans up to INR 50 lakh – INR 2500/-For loans above INR 50 lakh – INR 5,000/- |
Eligibility Criteria
- Individuals and joint owners have an immovable property and loan repayment capacity.
- Minimum Income: INR 25000 p.m. for salaried applicants
- Minimum Income: INR 300000 p.a. for applicants other than salaried.
Advantages of PNB Loan against Property
Below mentioned are the advantages of PNB Loan against Property
- Personalized doorstep service
- Up to 20 years of loan tenure
- Funding up to 70% of property cost
- Accessible network & decades of experience
- Customized eligibility program
- High standards of ethics, integrity, and transparency
- Numerous repayment options
Documents Required
- In the case of Salaried Employees:
- Duly filled application form with photograph
- Age Proof (PAN Card, Passport, Any other certificate from Statutory Authority)
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other certificate from Statutory Authority)
- Education Qualifications- Latest Degree
- Latest Salary Slips for 3 months
- Form 16- Last 2 years
- Last 6 months Bank Statements
- Processing Fees Cheque in favor of “PNB Housing Finance Ltd”.
- Photocopy of Title Documents of the property, Approved Plan
- In the case of Self Employed/ Professionals:
- Duly filled application form with photograph
- Age Proof (PAN Card, Passport, Any other certificate from Statutory Authority)
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other certificate from Statutory Authority)
- Education Qualifications- Latest Degree (For Professionals)
- Certificate & Proof of Business existence along with a business profile
- Last 3 years ITR (self and business) with P & L Account & Balance Sheets duly audited by CA
- Last 12 months Bank Account Statements (Self & Business)
- Processing Fees Cheque in favor of “PNB Housing Finance Ltd”.
- Photocopy of Title Documents of the property, Approved Plan, etc.
Interest Rates
An applicant is required to check the interest charges for PNB Loan against the property before applying for the same despite the fact whether he/ she has to apply for LIC Loan against property or PNB.
Let us now go through the interest charges to be incurred to apply for PNB Personal Loan:
FLOATING RATE
| Credit score (any loan amount) | Loan Against Commercial Property | Loan Against Residential Property (LAP) | Loan against Plot/ Loan against Special Property* (Residential/Commercial) |
| >=800 | 9.25% to 9.75% | 9.25% to 9.75% | 9.75% to 10.25% |
| >775 to 799 | 10.2% to 10.7% | 10.2% to 10.7% | 10.7% to 11.2% |
| >750 to <=775 | 10.8% to 11.3% | 10.8% to 11.3% | 11.3% to 11.8% |
| > 725 to < =750 | 11.2% to 11.7% | 11.2% to 11.7% | 11.7% to 12.2% |
| > 700 to <= 725 | 11.65% to 12.15% | 11.65% to 12.15% | 12.15% to 12.65% |
| > 650 to <= 700 | 11.85% to 12.35% | 11.85% to 12.35% | 12.35% to 12.85% |
| Up to 650 | 11.85% to 12.35% | 11.85% to 12.35% | 12.35% to 12.85% |
| NTC Cibil >=170 | 11.85% to 12.35% | 11.85% to 12.35% | 12.35% to 12.85% |
| NTC Cibil <170 | 11.75% to 12.25% | 11.75% to 12.25% | 12.25% to 12.75% |
*Special property is defined as Educational Institutes/Hotels/Schools/Hospitals/Industrial sheds.
*Rates of interest are subject to change at the sole discretion of PNB Housing.
**NTC: New to credit
* The above rates of interest are subject to change at the sole discretion of PNB Housing
PNB Housing offers a floating rate of interest, linked to its benchmark rate PNBHFR
PNBRRR (Retail reference rate) for all New Loans (Housing/Non-Housing) – on-boarded after 9th May 2022 – 12.65% p.a.
Previous PNBHFR Series
• PNBHFR Base Rate 2020 for new customers (loan disbursed) acquired on and after 25th September 2020: 13.15% p.a.
• PNBHFR Series 4 for new customers (loan disbursed) acquired on and after 16th March 2020: 11.65% p.a.
• PNBHFR Series 3 for new customers (loan disbursed) acquired on and after 01st June 2019: 11.70% p.a.
• PNBHFR Series 2 for new customers (loan disbursed) acquired on and after 6th March 2019: 12.05% p.a.
• PNBHFR Series 1 for new customers (loan disbursed) acquired on and after 1st July 2018: 12.15% p.a.
• PNBHFR Series 0 for existing customers (loan disbursed) from 1st March 2017 – 30th June 2018: 12.30% p.a.
• PNBHFR for existing customers (loan disbursed) before 1st March 2017: 16.72% p.a.
Comparison of Interest Rates on Loan against Property for Top Banks
Name of the Lender | Interest Rate (% p.a.) |
| State Bank of India | 10.60-11.30 |
| Bank of Baroda | 10.85-16.50 |
| PNB Housing Finance | 9.65-13.00 |
| IDFC First Bank | 8.75-16.25 |
| HDFC | 8.95-10.25 |
| L&T Housing Finance | 9.60 onwards |
| LIC Housing Finance | 9.50-11.55 |
| Godrej Housing Finance | 9.75 onwards |
| ICICI Bank | 10.85-12.50 |
| Tata Capital | 10.10 onwards |
| Bajaj Housing Finance | 8.50-18.00 |
| Axis Bank | 9.90-10.35 |
| Kotak Mahindra Bank | 9.15 onwards |
Amount of Loan against Property
- The maximum amount of loan would be 70% of the market value of the property i.e. amount certified by PNB Housing’s approved valuer or repayment capacity or the customer, whichever is lower.
- Loan eligibility shall be determined by PNB Housing taking into account income, age, qualification, occupation, etc.
- The income of the borrower(s)/ co-borrower(s) may be clubbed together for the calculation of loan eligibility.
Types of PNB Loan against Property
- My Property Loan:
- Purpose: For personal purposes except for speculation.
- Loan Amount:
INR 2 lakh- INR 5 crore
In the case of salaried: 36 times gross monthly salary based on the latest salary certificate
In the case of non-salaried: 36 times the average gross monthly income for the past 3 years
- LTV Ratio: Up to 65% of property value
- Tenure: Up to 10 years
- Security: Equitable/registered mortgage of non-encumbered property and self-occupied residential/commercial property with a minimum residual life of 25 years
