| PNB reaches out to you with fast, friendly and most convenient
home loans for:
 |
Construction
or purchase of house/ flat. |
|
Purchase of house/ flat on First Power of Attorney
basis from the original allottee. |
|
Carrying out
repairs/ renovations/ additions/ alterations to
existing house/ flat. |
| |
Special Feature- To cover the loan outstanding,
life Insurance cover is also available on payment
of one time premium which can also be financed by
the Bank. |
| Extent of loan |
|
 |
Individual
For construction/purchase of house/ flat:- 75% of the
cost of construction of house or purchase of house/ flat
.
For carrying out repairs/ renovation/ additions/ alterations:
- 75% of the estimated cost subject to maximum of Rs. 20lacs.
Loan upto Rs.20 Lacs for purchase of Land/Plot.
Loan is available maximum upto Rs.2 Lacs for furnishing.
| Security |
|
|
|
Mortgage of
property for which finance is being given.
|
|
In
case of purchase of house/ flat from housing board/
society where mortgage cannot be created immediately,
a tripartite agreement shall be executed amongst
the housing board/ society, borrower and the Bank. |
|
In case of
purchase of house/ flat on first power of attorney,
additional security equal to 125% of the loan
amount by way of mortgage of some other property
or pledge of bank's FDR/ LIC policy/ Govt. Securities,
NSCs, KVPs, IVPs, / PSU Bonds etc. has to be provided.
|
| Rate of Interest |
|
|
RATE
OF INTEREST (as on 01.03.2008):
| TENOR
For loans repayable in/upto |
Rate of Interest @ percent p.a. |
Loan
Amt. upto Rs.20 lac |
Loan Amt. above Rs.20 lac |
| i) Upto 5 years-
floating |
9.00 |
9.50 |
|
10.25 |
10.75 |
ii) Above 5 years & upto 10 years- floating |
9.25 |
9.75 |
|
11.00 |
11.50 |
| iii) Above 10 years &
upto 20 years- floating |
9.50 |
10.00 |
|
11.25 |
11.75 |
| iii) Above
20 years & upto 25 years- floating |
10.00 |
10.50 |
|
11.75 |
12.25 |
Fixed Rate of Option is
subject to Reset Clause of Five Years.
Extra rate of interest of 0.50% on Card Rates to be charged
in respect of persons already having one or more houses
and availing housing loan for subsequent house(s).
Option for Fixed or Floating Rate of Interest exercised by the borrower will not be allowed to be changed for a minimum period of 3 years, whereafter any change would be at the discretion of the Sanctioning Authority.
| Upfront Fee |
|
|
0.90% of the loan amount + Service Tax & Education Cess
| Documentation Charges |
|
|
Rs.1,350/- + Service Tax & Education Cess
| Repayment |
|
|
Loan is to be repaid in equated monthly installments
within a period of 25 years or before the borrower attains
the age of 65 years.
| Disbursement |
|
|
|
For outright
purchase of house/ flat, the loan amount will
be paid in lumpsum to the vendor. |
|
For
house/ flat under construction, the loan amount
will be disbursed in stages as per progress of construction/
demand by selling agency.
|
|
