Punjab National Bank

About Us

PNB Housing Finance Limited (PNBHFL) is a registered housing finance company with National Housing Bank (NHB). It was incorporated under the Companies Act, 1956 and commenced its operations on November 11, 1988. PNBHFL is a subsidiary of Punjab National Bank (PNB).
On December 9, 2009, it entered into a strategic financial partnership with Destimoney Enterprises Private Limited (DEPL). With over two decades of specialised experience in housing finance, PNBHFL has a robust network of branches spread across the country which help its customers avail financial services (loans and deposits) seamlessly.

Credit Rating of PNBHFL

Bank Loans Long Term Rating CRISIL AA+ (Stable Outlook)
Bonds CRISIL AA+ (Stable Outlook) & ICRA AA+ (Stable Outlook)
Commercial Paper Programme CRISIL A1+
Fixed Deposits Programme CRISIL FAAA (Stable Outlook)
PNBHFL provides housing loans to individuals and corporate bodies for construction, purchase, repair and upgradation of houses. It also provides loans for commercial space, loan against property and loan for purchase of residential plots.

Home Loan Process
Step 1: Submit your loan application along with required set of documents. For complete list please click here.
Step 2: Your Home loan application would be checked against various eligibility and funding norms. Some of them are listed on here.
Step 3: Post this, the housing finance company / bank does a property valuation and title check to determine the property value and legal clearance of the property to arrive at the loan amount.
Step 4: Based on the internal guidelines of bank / home loan company and regulatory guidelines by RBI, your loan application is approved or rejected.
Step 5: Once your application is approved, submission of the original property documents are required along with signing of agreements, handing over of registered property papers and submission of post-dated cheques/ECS mandate.
Step 6: Once all this is done, Bank will disburse the loan amount to the developer/contractor based on the progress of construction (in-case of under construction home) and to the seller in case of ready possession Home.
Note:The EMI/Pre-EMI will commence after the disbursement
• finalize property first, then apply for a loan
• Get your own credit report and report errors (if any). Individuals with CIBIL score above 700 stand a better chance of getting a home loan. The better the score, the better Interest rates would you get as you have a proven track record and in the eyes of the bank, you are less likely to default.
• Fixed rates are often fixed only for a certain part of tenure. You need to go in for a fixed rate home loan if you anticipate the rates to go up in the near term. If you anticipate the interest rates to decline (which right now most people are predicting), you are better on floating home loan as that would give you the benefit of reduced rates when rates decline. Also, interest rates on floating home loan are cheaper then fixed rate home loan.
• Understand charges like foreclosure fees and when they are waived. Prepayment penalty is waived on most of the home loans.
• Know you maximum loan eligibility which depends on factors like your income, previous loan and credit caard repayment record and the property value of your new home. (banks generally finance upto 80% of property value

Advantages :

Doorstep Service with a dedicated relationship manager High standards of ethics, integrity and transparency
3, 5 & 10 years Pure Fixed Rate options Numerous repayment options
No Prepayment or Foreclosure charges Customized eligibility programs
Funding up to 80%* of the property cost Accessible network & decades of experience

Eligible Loan Amount
The maximum loan amount you are eligible depends on:
Value of Property
Typically, banks will lend up to 80% of the agreement value of the property.
Net Monthly Take Home (and years to retirement)
If you are under 38 years of age, you can get a home loan of up to 50 times your net monthly take-home.
You are eligible for a loan if you are a salaried, self- employed professional or a businessman.
Apart from the Property value, your home loan eligibility will be determined by housing finance company / bank on factors such as income, age, assets, liabilities, number of dependents, qualifications, co-applicants income, stability and continuity of occupation and savings history

Get Enquiry Here

9594111161 / 9967111161
504, 5th Floor Suchita Business Park,
Raigad Chowk, Station Road, Ghatkopar (E), Mumbai 400 077

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