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PNB Housing Finance Commercial Property Loan
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PNB Housing Finance commercial property loan is a type of financial product. Eligible applicants can secure funds to purchase or construct commercial properties. These may include office buildings, retail spaces, warehouses, industrial properties, and other types of real estate intended for business use. Unlike residential loans, provided to individuals to purchase homes, commercial loans are granted to companies, investors, or business entities and often come with different terms, interest rates, and underwriting processes. For more insight, continue to scroll down. Hereunder, we detail the PNB Housing Finance commercial property loan interest rate, eligibility, documentation, and more. Let’s dive in.
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Reviewed ByPNB Housing Finance Commercial Property Loan Features
Below are the expected features of a commercial loan from PNB Housing Finance:
- Lower interest rates
- Higher loan amount
- Longer loan tenure
- No hidden fees
- Quick loan disbursement
- Available doorstep services
PNB Housing Finance Commercial Property Loan Interest Rates
PNB Housing Finance commercial property loan rate of interest are as follows:
| Credit Score | Floating Rate of Interest (per annum) |
| Above 825 | 9.24% to 9.74% |
| 800 to 825 | 10% to 10.5% |
| 775 to 799 | 10.3% to 10.8% |
| 750 to 775 | 10.9% to 11.4% |
| 725 to 750 | 11.3% to 11.8% |
| 700 to 725 | 11.75% to 12.25% |
| 650 to 700 | 11.95% to 12.45% |
| Upto 650 | 11.95% to 12.45% |
Note: Fixed rate for commercial property loan – 15.25% per annum
PNB Housing Finance Commercial Property Loan Eligibility Criteria
Below are the eligibility criteria regarding a PNB Housing Finance commercial property loan:
- Age Limit: You must be below 65 years old.
- Income Requirement: You must have a sold source of income to cover the loan amount.
- Employment Duration: You must have at least 2 years of work experience or business continuity.
- Credit Score: You must have a good credit score and a positive repayment history.
- Residential Status: You must be an Indian citizen.
PNB Housing Finance Commercial Property Loan Documents Required
Below are the required documents regarding a loan for the purchase of commercial property PNB Housing Finance:
- Proof of Identity: Documents such as PAN Card, Aadhar Card, or Passport.
- Proof of Residence: Documents such as Ration Card, Driving License, or Telephone Bill.
- Proof of Education: The most recent degree or educational qualification.
- Proof of Income: Last 3-month salary slip, 2-year Form 16, 6-month bank statement, etc.
- Proof of Property: Property Tax Receipts, Title Documents of the property, No Objection Certificates, Approved Plan, etc.
- Additional Documents: Duly filled Application Form, 2 passport-size photographs, and processing fee cheque.
PNB Housing Finance Commercial Property Loan Fees and Other Charges
Below are the fees and charges associated with the commercial loan from PNB Housing Finance:
| Fee/Charge | Amount |
| Processing fee | Up to 2% of the loan amount |
| Documentation Charges* | ₹1350 |
| Prepayment charges | 3% of the repayment amount |
| Late payment charges | 2% per month, I.e., 24% p.a. on the overdue amount. |
| Security Inspection | ₹250 |
| Legal fee | At actuals |
PNB Housing Finance Commercial Property Loan – Terms and Conditions
The PNB Housing Finance commercial property loan is a secured credit option. Thus, you are required to pledge your commercial or residential property as collateral before accessing the funds. If you fail to repay the loan by the end of the tenure, the bank reserves the right to seize the pledged property to recover the borrowed amount. Hence, it’s crucial to carefully evaluate your repayment capability before making a final decision.
