PNB Housing Finance Home Construction Loan

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PNB Housing Finance offers a helping hand to those aspiring to construct their dream home through their PNB Housing Finance Construction Loan, also known as the PNB Housing Finance Home Construction Loan. This loan is specifically designed to finance the construction costs of building a new residential property. Whether you have drafted your ideal house plans or are seeking financing for an upcoming project, understanding the aspects of the PNB Housing Finance Construction Loan can help you make informed decisions.

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Table of Content

1. PNB Housing Finance Home Construction Loan Highlights

2. PNB Housing Finance Construction Loan Interest Rates

3. PNB Housing Finance Construction Loan Fees and Charges

4. PNB Housing Finance Construction Loan Eligibility Criteria for Salaried and Self-Employed

5. PNB Housing Finance Construction Loan Documents Required for Salaried and Self-Employed

6. Features of PNB Housing Finance Construction Loans

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Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

PNB Housing Finance Home Construction Loan – Highlights

Charted below are the highlights of the PNB Housing Finance Home Construction Loan.

Interest Rate	8.5% to 11.45% p.a.
Maximum Loan Amount	Up to 90% of the house value
Maximum Loan Tenure	30-years
Processing Fees	Up to 1% for Home Loan

PNB Housing Finance Construction Loan Interest Rates

The interest rate for a PNB Housing Finance Construction Loan will depend on various factors, including your credit score, loan amount, and chosen repayment term. While exact rates can vary, PNB Housing Finance typically offers competitive interest rates within the market range for construction loans.

Here is a table outlining a general structure for PNB Housing Finance Construction Loan interest rates:

Credit Score Range	Salaried Interest Rate Range (Below 35 Lakh)	Non Salaried Interest Rate Range (Below 35 Lakh)	Salaried Interest Rate Range (Above 35 Lakh)	Non Salaried Interest Rate Range (Above 35 Lakh)
>=825	8.5% to 9%	8.8% to 9.3%	8.5% to 9%	8.8% to 9.3%
>800 to 825	8.8% to 9.3%	8.95% to 9.45%	8.8% to 9.3%	8.95% to 9.45%
>775 to 799	9.1% to 9.6%	9.65% to 10.15%	9.2% to 9.7%	9.8% to 10.3%
>750 to <=775	9.25% to 9.75%	9.8% to 10.3%	9.35% to 9.85%	10.15% to 10.65%
>725 to <=750	9.55% to 10.05%	10.25% to 10.75%	9.7% to 10.2%	10.3% to 10.8%
>700 to <=725	9.85% to 10.35%	10.55% to 11.05%	10.05% to 10.55%	10.75% to 11.25%
>650 to <=700	10.25% to 10.75%	10.75% to 11.25%	10.45% to 10.95%	10.95% to 11.45%
<=650	10.25% to 10.75%	10.75% to 11.25%	10.45% to 10.95%	10.95% to 11.45%
NTC Cibil >=170	10.25% to 10.75%	10.65% to 11.15%	10.45% to 10.95%	10.85% to 11.35%
NTC Cibil <170	10.15% to 10.65%	10.55% to 11.05%	10.35% to 10.85%	10.75% to 11.25%

PNB Housing Finance Construction Loan Fees and Charges

Certain fees and charges are associated with obtaining a PNB Housing Finance Construction Loan. These might include:

Fee/Charge	Amount
Processing Fee	Up to 1% for Home Loan

PNB Housing Finance Construction Loan Eligibility Criteria for Salaried and Self-Employed

To qualify for a PNB Housing Finance Construction Loan, here are the key eligibility requirements for salaried individuals:

Age: Minimum age: 21 years at the loan commencement; Maximum age: 70 years by the loan maturity date.
Residency: You must be a permanent resident of India.
Employment: Minimum work experience of 3 years with your current employer (or 5 years for fresh graduates).
Income: Minimum monthly salary of ₹15,000 or more.
Credit Score: A healthy credit score of 611 or above is preferred. Maintaining a good credit history demonstrates your financial responsibility and increases your chances of loan approval.

PNB Housing Finance Construction Loan Documents Required for Salaried and Self-Employed

The loan application process for a PNB Housing Finance Construction Loan requires you to submit specific documents. Below is the list of documents a salaried individual must submit.

PNB Housing Finance Construction Loan application form.
KYC documents (identity proof, address proof).
Salary slips for the past few months.
Income Tax Returns (ITR) for the past 3 years.
Bank account statements for the past 6 months.
Property ownership documents for the land.
Approved building plans.
Employment proof (experience certificate, etc.).

Features of PNB Housing Finance Construction Loans

PNB Housing Finance Construction Loans go beyond simply financing your construction costs. Here are some key features designed to support aspiring homeowners throughout the building process:

Financing for Construction Costs: The loan covers expenses associated with building your new home, including materials, labour, and construction fees.
Flexible Repayment Options: PNB Housing Finance understands that construction projects can have unforeseen circumstances. They offer flexible repayment options that can provide peace of mind.
Simplified Loan Process: PNB Housing Finance strives to streamline the loan application process. Their online application portal and minimal documentation requirements can save you time and hassle.
Expert Assistance: PNB offers guidance and support throughout the loan process. You may have access to dedicated relationship managers and technical expertise.
Competitive Interest Rates: PNB Housing Finance strives to offer competitive interest rates within the market range for construction loans.

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