PNB Housing Finance Home Loan for Women and Housewife

Homeownership is not just about having a place to live; it symbolises stability, security, and a big step towards empowerment for women. Whether you're earning or taking care of your home, this loan supports you by offering favourable terms like lower interest rates and extended repayment periods, making home buying affordable and stress-free.

PNB Housing Finance, a trusted part of the Punjab National Bank Group, is committed to empowering women by making home loans more accessible. This program considers various financial backgrounds, allowing those without regular income proof to apply with co-applicants. This initiative enhances women's role in family and societal decision-making and strengthens their financial independence and security.

PNB Home Loan for Housewife / Women – Highlights

Here are some of the important features of the PNB Home Loan for Women for your better understanding:

PNB Home Loan Benefits For Women

PNB Home Loan offers several benefits for women applicants, designed to make the dream of owning a home more accessible and affordable. Here are some of the key benefits:

• Discounted Interest Rates: Women applicants enjoy lower interest rates on home loans, which can significantly reduce the cost of borrowing.
• Processing Fee Concessions: Women can receive concessions on processing fees, lowering the upfront costs when applying for a loan.
• Flexible Repayment Options: PNB provides flexible repayment options, making it easier for women to manage their finances and repay the loan according to their convenience.
• Insurance Coverage: Some home loan schemes for women also include additional benefits like insurance coverage, adding an extra layer of security for the borrower.
• Special Schemes: PNB has special schemes like the Roshni scheme, which offers loans specifically for home buying, expansion, renovation, and more, catering to the needs of women borrowers.

PNB Home Loan for Housewife / Women – Fees and Charges

Here’s a summary of potential charges you might encounter:

• Stamping Charge: This fee is for legal documents executed on stamp paper, and the cost varies based on the actual expenses.
• Income Tax Certificate Charge: Some banks may charge up to ₹500 for each certificate issuance.
• Interest Certificate Charge: A fee of up to ₹500 per request for a certificate detailing the interest paid during your loan repayment.
• NOC/NDC Charge: Obtaining a No Objection Certificate (NOC) or No Dues Certificate (NDC) may involve a fee ranging from zero to ₹500 per request.
• Duplicate NOC or NDC Charge: If you need a duplicate copy, the fee typically ranges from ₹100 to ₹500 per instance.
• Agreement Copy Fee: Requesting a copy of your loan agreement may entail a fee of up to ₹500.
• Issuance Charge for Photocopy of Title Documents: To obtain a photocopy of your property’s Title Documents, you might need to pay a fee of up to ₹1,000 per request.
• Duplicate Statement Issuance Charge: A fee of up to ₹250 per request for a duplicate statement of your loan account.
• Amortisation Schedule Issuance Fee: To obtain a detailed amortisation schedule, you may be required to pay up to ₹250 per request.
• Document Retrieval Charge: At loan closure, retrieving all original property documents from the bank may cost between ₹500 to ₹5,000.
• CIBIL Report Fee: Obtaining a copy of your CIBIL credit report may come with a fee, typically from zero to ₹1,000.

Additionally, women applicants may benefit from more favourable interest rates at 8.60% p.a. 

PNB Home Loan for Housewife / Women – Documents Required

To apply for a PNB Home Loan for housewives or women, you’ll need to provide a set of documents that typically include:

• Proof of Identity: This could be your Passport, PAN Card, Driving Licence, etc.
• Address/Residence proof: Documents like Aadhar card, Passport, Driving License, Telephone Bill, Ration Card, Election Card, or any other certificate from a Statutory Authority.
• Age Proof: PAN Card, Passport, or any other certificate from a Statutory Authority.
• Educational qualification proof: If applicable.
• Income Proof: For salaried individuals, this includes the latest salary certificate issued by the employer indicating gross and net salary, Income tax Return/Form16 for the last 2 years, and bank statement of salary accounts for the last 6/12 months. For self-employed individuals, proof of income for business and ITR are required.

PNB Home Loan for Housewife / Women – Eligibility Criteria

To be eligible for a PNB Home Loan for housewives or women, applicants must meet the following criteria:

• Age: The applicant must be between 18 to 70 years old.
• Residency: The applicant should be an Indian resident or a Non-resident Indian.
• Income: The minimum monthly income required is ₹15,000.
• Co-applicant Income: If there is a co-applicant, they must earn at least ₹10,000 per month.

Additionally, for salaried applicants:

• Work Experience: A minimum of 3 years in the current occupation.
• Loan Amount: The loan amount can start from ₹8 lakh onwards.
• Tenure: The loan tenure can be up to 30 years.
• Loan to Value (LTV): Up to 90% of the property value.

Types of PNB  Home Loans for Women

PNB offers a variety of home loan products tailored to meet the needs of women borrowers. Here are some of the types of home loans available for women:

• PNB Max Saver: This home loan scheme allows borrowers to deposit their savings and reduce the interest burden on their home loans while still being able to withdraw their savings when needed.
• PNB Gen-Next Housing Finance: Aimed at the next generation of homebuyers, this loan offers competitive interest rates and terms for purchasing a new home.
• PNB Pride Housing Loan: Specifically designed for government employees, this loan provides attractive interest rates and benefits.
• PNB Power Ride: A scheme for financing two-wheelers for women, which can be considered if you want to purchase a two-wheeler and a home.