Punjab National Bank (PNB) has recently announced attractive offers on home loans for customers this festive season. PNB took to its official Twitter handle to announce the various benefits associated with PNB Home Loans. PNB has recently tweeted about the various benefits associated with PNB Home Loan from its official Twitter handle. The tweet read, ‘PNB Home Loan brings happiness.
The objective for Housing Loan
Ensuring availability of housing loans at attractive rates and ensuring housing for all.
For the construction of house/flat;
For purchase of manufactured house/flat.
For purchase of under-construction houses/flats from housing boards/development authorities/co-operative societies/approved private builders/projects.
For making additions to the house/flat.
For the cost of repair/renovation/transformation/furnishing of the house/flat.
To meet the cost escalation in case of under-construction flats to the existing housing loan borrowers.
For purchase of land/plot for construction of the house.
Individuals or groups of persons (co-borrowers) who have an assured source of regular income. Salaried employees, professionals, self-employed persons, businessmen, farmers etc. Staff members are also eligible under the public scheme.
Documents required for PNB Home Loan
- Proof of Identity
- Proof of Residence
- Proof of Age
- Proof of educational qualification
- Proof of Income
- Property documents
- Bank Statement for the last six months
- ITR for the last 3 years
- Assessment order and computation of income statement
- For Salaried Class – Bank statement of salary account for the previous 6 months
- Is there any penalty for prepayment of home loan?
Is there any penalty on prepayment of home loan?
While there is no prepayment fee on an adjustable rate home loan, on a fixed rate home loan, lenders usually charge a penalty of 2 percent of the amount to be prepaid through refinancing, i.e. when you borrow to prepay your home loan. take.
2. Can I withdraw money from my home loan account?
If you have paid more than the minimum amount required on your home loan, you can re-request to withdraw the extra money that you have paid. You can use your redrawn money for any purpose at any time and continue to pay your loan without extending the original tenure of your loan.
3. What is the minimum amount for prepayment of home loan?
To prepay more than 25% of the principal, you will have to pay a prepayment fee of 2%. Also, for home loans at fixed interest rates, there is no charge on prepayment through own funds. In case of refinance, HDFC home loan foreclosure charges are 2% of the outstanding amount for individual borrowers.
4. Can I close my home loan before tenure?
A borrower can also pre-close the housing loan to save on interest. Closing the loan early allows the borrower to avoid a portion of the interest. Whatever interest he had to pay after preclosure, would be automatically forgiven on closure of the loan.
5. What is the best time to close on a home loan?
When buying a new home, it’s best to close as late as possible at the end of the month if low closing costs are your goal. You don’t make your first home payment at closing, but the lender wants you to pay interest for each day you own the home.