Housing loans at Punjab National Bank

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 :-
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.
pfront Fee :- 0.5% of the loan amount - Minimum Rs. 1,000/- and Maximum Rs.15,000/-

Documentation charges:- Rs.1,500/-

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.

Contact yournearest branch office for more details.

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Priority Sector Lending and Rural development

Priority sector lending is aimed to ensure adequate credit flow of bank credit to those sectors of the society/ economy that impact large segments of population, the weaker section and employment sensitive sectors like agriculture and micro and small enterprises. Priority sector lending may be described in the following points:

More articles: Loans Punjab National Bank Housing Loans Bank


Author: Mala24 Nov 2007 Member Level: Gold   Points : 5

Loans for Women at Punjab National Bank.

Financial Independence for women is now within easy reach with support of PNB
Punjab National Bank provides the independent women of today a spectrum of financial facilities. The credit facilities provided by the Bank, exclusively to women for their empowerment are as under :

Scheme for women (including housewives)
Mahila Udyam Nidhi scheme
Mahila Sashaktikaran Abhivan

Besides the above schemes for women, the following additional facilities are provided to women entrepreneurs:
Priority Sector Schemes-

a) Credit assistance to women entrepreneurs in tiny and SSI sector
b) Credit Assistance to women beneficiaries in other Priority Sector Schemes
c) Credit facilities to women entrepreneurs under various Govt. sponsored

schemes like
-Prime Minister's Rozgar Yojana (PMRY)
-Swarnjayanti Gram Swarozgar Yojana (SGSY)
-Swarnjayanti Shahari Rozgar Yojana (SJSRY)
-Differential Rate of Interest Scheme (DRI)
-Micro Credit to Self-Help Groups (SHGs)

Personal Segment Schemes
Housing Loan
Car Loan
Personal Loan
Gold Loan
Education Loan

All Other Non-Priority Sector Schemes

Women borrowers get special relaxation in intrest rates, margins and upfront fees in all the above schemes (except DRI).

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