Tag Archives: pnb pradhan mantri awas yojna home loan

PNB Pradhan Mantri Awas Yojna Home Loan, Interest Rate and EMI Calculator 2019

(Updated on 19.03.19) PNB Pradhan Mantri Awas Yojna Home Loan March 2019 – Get Instant Quick & Easy Approval on PNB Pradhan Mantri Awas Yojna Home Loan. Loansninsurances.com provide a simple tool to calculate your Pradhan Mantri Awas Yojna Home Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure ✓ Processing Fee ✓ Eligibility ✓ Best Offers & more.

QUICK, EASY & INSTANT APPROVAL ONLINE

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

PNB Pradhan Mantri Awas Yojna Home Loan

Punjab National Bank Home Loan is offered to every class of people at its reasonable and affordable rates of interest, with varied Home Loan EMI options, easiest application process, flexible repayment options and lots more customized benefits. Punjab National Bank Home Loan is tailor-made to help the beneficiaries of Pradhan Mantri Awas Yojna with a ‘Pucca’ dwelling unit of their own. To have this dream turn into reality Punjab National Bank made the process of home loan application total hassle free with minimum documentation, less processing fee and without any foreclosure charge.

PNB Pradhan Mantri Awas Yojna Home Loan Interest Rates

Interest Rate 8.45%+0.05(Floating)
Processing fee range 0.25% to 0.50% Subject to Minimum of Rs.5750
Loan Amount Maximum 30 Lakhs
Tenure 1 to 15 Years

PNB PMAY Home Loan EMI Calculator

PNB PMAY Home Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Main Features of the PNB-PMAY Home Loan

  • To provide customized Housing Loan to Individuals from Economically Weaker Section (EWS) & Low Income Group (LIG) category at the most affordable rate of interest and to ensure a beautiful home for all.

  • Highest Loan amount can be availed.

  • Individuals from all 4041 statutory towns as per Census 2011 will get the benefit of PNB-PMAY home loan

  • Interest Subsidy of 6% can be availed up to loan amount of 6 lakhs.

  • NO documentation charges.

PNB PRADHAN MANTRI AWAS YOJANA HOME LOAN ELIGIBILITY

  • People belonging to Economically Weaker Section (EWS) & Low Income Group (LIG) category are eligible for this loan.

  • Property jointly owned by individuals of the same family are also eligible for this.

  • EWS households with a minimum annual income of Rs. 3 lakhs are eligible for PNB-PMAY home loan.

  • LIG households with an annual income from Rs. 3 lakhs to Rs. 6 lakhs are eligible for this Loan.

Beneficiary of the Loan

The beneficiary family comprised of husband, wife and unmarried children should not own any ‘pucca’ house or a weather conditioned dwelling unit in the name of any member of his/her family in any part of India . You need to submit an affidavit to be part of this scheme.

Security

Equitable/registered mortgage of the property is acceptable by the bank.

PNB PRADHAN MANTRI AWAS YOJNA HOME LOAN AMOUNT ELIGIBILITY

Loan amount depends on the individuals’ annual income and his/her capacity to repay the loan. A minimum loan amount of 1 lakh and a maximum loan amount of Rs. 30 lakhs which is subject to Loan to Value Ratio can be availed by individuals belonging to EWS and LIG category.

PNB PRADHAN MANTRI AWAS YOJNA HOME LOAN DOCUMENTS REQUIRED

  • Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)

  • Duly filled Application Form with Photograph

  • 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

  • Certificate & Proof of business existence along with Business Profile

  • Form 16 for last 2 years

  • Last 6 months Bank Statements(salary account)

  • Last 12 months Bank Account Statements (self & business)

  • Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’

PNB Pradhan Mantri Awas Yojna Home Loan Prepayments

Loan can be repaid up to the age of 70 years or up to 15 years with inclusion of moratorium period, whichever is earlier. The Bank does not levy any fee on foreclosure of the outstanding loan amount.The income of the spouse or earnings of children and joint owners of the property can be added e for a higher repaying capacity.

PNB Pradhan Mantri Awas Yojna Home Loan Margin (Borrower’s Contribution)

Loan Amount Margin

For Loan up to Rs. 20 lacs

                    10%

For Loans above Rs. 20 lacs & up to Rs. 30 Lacs

                     20%

PNB Pradhan Mantri Awas Yojna Home Loan Amount Disbursement

Loan amount disbursement will be made in accordance with housing loan scheme to public. The loan amount will be disbursed in not more than 4 installments in compliance with the progress of construction because Subsidy on home loan will be released to the bank in four installments by the NHB.

PNB Pradhan Mantri Awas Yojna Home Loan Repayment Holiday or Moratorium

For Construction/Additions of House/Flat

Moratorium Period of 18 months or till the completion of construction from the date of first installment of the loan amount disbursement, whichever is earlier.

For carrying out repairs/ renovation / alterations to the house/flat

A moratorium period of 6 months or till the completion of repairs/renovation/alternations from the date of disbursement of the first loan installment, whichever is earlier.

PNB Pradhan Mantri Awas Yojna Home Loan Credit Linked Subsidy

  • Subsidy for home loan amount is available at the rate of 6.5% for a loan tenure of 15 years or during the whole loan tenure, whichever is earlier.

  • Loan subsidy is allowed only for loan amounts up to 6 lakhs and no subsidy is allowed for loan amounts above 6 lakhs.

  • The net value of the interest subsidy will be calculated at a discounted rate of 9%.

  • A maximum loan subsidy of Rs. 2,20,187/- can be availed.

Also check for PNB Personal Loan which has been creatively designed to the cater to the diverse financial needs of all customers for their genuine personal needs. Explore our loansninsurances.com web pages for any kind of loan you are looking for.