PNB Housing Finance Plot Loans

A PNB Housing Finance plot loan is a feature-rich credit option. As the name suggests, you can use this loan to buy land intended to build a home. The bank ensures eligible applicants can expect competitive interest rates, personalised repayment plans, higher loan tenure, and fast fund disbursement, among many others. Urban Money offers a complete guide to PNB Housing Finance land loans to make your homeownership journey less difficult. We primarily cover details such as PNB Housing Finance plot loan interest rate, processing fees, available loan amount, loan tenure, documentation, etc. Let’s get started.

PNB Housing Finance Plot Loan – Highlights

The following are the key parameters of a PNB Housing Finance plot loan:

PNB Housing Finance Plot Loan Interest Rates

Let’s examine the detailed view of the PNB Housing Finance plot loan interest rate:

PNB Housing Finance Plot Loan Fees and Charges

Here are the associated fees and charges of a  PNB Housing Finance housing loan for plot purchases:

PNB Housing Finance Plot Loan Eligibility Criteria

PNB Housing Finance plot loan eligibility criteria are as follows:

• Profession: Borrowers should be Salaried individuals, Self-employed, or Business owners.
• Age: Borrowers should not be older than 70 at loan maturity.
• Income: Borrowers must have a regular source of income sufficient to cover the loan EMIs. 
• Credit Score: Borrowers’ credit scores should be at least 650 to qualify for attractive interest rates.
• Nationality: Borrowers should be Indian citizens. 

PNB Housing Finance Plot Loan Documents Required 

Following are the expected documents required for a plot loan in PNB Housing Finance:

• Proof of Identity: PAN Card, Aadhar Card, Passport, Driving License, etc. 
• Proof of Residence: Telephone Bill, Ration Card, Election Card, Passport, etc. 
• Proof of Income: Past 3 months’ salary slips, 6 months’ bank statements, and 2  years’ Form 16. 
• Proof of Property: Title documents of the property and approved plan for the home.  
• Additional Documents: Duly filled application form, your passport-sized photograph, and a cheque for processing fees in favour of ‘PNB Housing Finance Ltd.

Features of PNB Housing Finance Plot Loans

Here are the key features of a PNB Housing Finance land loan:

• Branches across India: PNB Housing Finance has a nationwide network of branches.
• Quick and easy loans: They provide a hassle-free loan application process with services at your doorstep.
• Attractive interest rates: The plot loans come with competitive interest rates starting from 9.50%.
• Lengthy tenor period: They offer long tenure for the loans, which can make the repayment process more manageable.
• Government applicable interest subsidy: If you begin construction on the purchased land, you may be eligible for government interest subsidies.
• Online post-payment services: PNB Housing Finance provides online services for post-payment, which can be convenient for managing your loan.
• Various repayment options: They offer multiple repayment options to suit different financial situations.

Things to Remember While Applying for a PNB Housing Finance Plot Loan

The following are certain tips you should keep in mind while applying for PNB Housing Finance plot loans:

• Check Eligibility: Ensure you meet the eligibility criteria, such as age, employment status, and credit score.
• Prepare Documents: Gather all the necessary documents beforehand, including proof of income, age, residence, and property details.
• Credit Score: A good credit score can get you better interest rates, so check your credit score before applying.
• Property Verification: Make sure the property you wish to purchase is verified, and all the legal titles are clear.
• Loan Amount: Understand how much loan you need and how much you are eligible for based on your income and the property’s cost.
• Interest Rates: Compare the interest rates and choose the best option that suits your financial plan via the official website of Urban Money.
• Repayment Plan: Choose a repayment plan that aligns with your financial stability and income flow.
• Read Terms and Conditions: Carefully read all the terms and conditions of the loan agreement before signing it.
• Ask Questions: If you have any doubts, don’t hesitate to ask questions or seek clarification by calling the Urban Money loan specialist.
• Apply Online: For convenience and reduced processing fees, consider applying through the Urban Money website.