PNB Housing Finance Commercial Property Loan

A PNB commercial property loan is for those keen to do business by investing in property. PNB offers different loan options for the purchase or construction of the approved property. You can opt for various options for a commercial loan from PNB, including loans against residential and commercial property and loans for the purchase and construction of commercial property. 

The loan application process is entirely paperless and is disbursed within a few days of verification. With different repayment options and a dedicated team to assist you, PNB ensures you get a commercial property loan without any hassle. Moreover, the PNB commercial property loan rate of interest starts at 9.25% PA, which is relatively low.

PNB Housing Finance Commercial Property Loan Interest Rates

The PNB interest rate for commercial property starts at 9.25% and is in floating form. Moreover, the bank considers the CIBIL score of the applicant, according to which the interest rate changes.

PNB Housing Finance Commercial Property Loan:  Fees and Charges

When seeking a commercial loan from PNB, you will need to pay processing fees. The borrower will need to pay 2% GST on the total loan amount. Other charges include:

• 3%+ GST if the property is in the name of the individual
• 3%+ GST if the property is in the name of a non-individual.

Eligibility Criteria for PNB Housing Finance Commercial Property Loan

The applicant must fulfill the following criteria to apply for a PNB commercial property loan:

• The minimum age must be 21.
• If running a firm, it should be more than 3 years old.
• Should have a minimum CIBIL score of 800.
• Must contribute 30% of the total property rate, including stamp duty and registration.

PNB Housing Finance Commercial Property Loan Documents Requirement

While applying for the PNB commercial property loan, the applicant needs to submit the following documents:

For Salaried Person

• Duly filled application form
• Form 16 for the last 2 years
• Bank Statements for the last 6 months
• Income Tax Returns (minimum 2 years)
• Complete property documents (if planning to construct on already purchased land)
• Salary slips for the previous 6 months.
• Address Proof: Utility Bills, Voter’s ID, Aadhar Card, or any other government-issued certificate
• Age Proof: Valid Passport, Aadhar card/Driving License, etc.

For Self-Employed Person

• Duly filled application form
• Bank Statements: For the last 12 months
• Income Tax Returns (minimum 3 years)
• Complete property documents (if planning to construct on already purchased land)
• Address Proof: Utility Bills, Voter’s ID, Aadhar Card, or any other government-issued certificate
• Age Proof: Valid Passport, Aadhar card/Driving License, etc.
• Certificate and proof of business existence

PNB Housing Finance Commercial Property Loan Benefits and Features

Getting a loan for the purchase of commercial property (PNB) brings some benefits. Some of these are:

• Flexible Tenure: The PNB Commercial Loan offers a repayment tenure of 15 years.
• Minimum Documentation: Income proof, property documents, ID, and address proof are some of the documents required.
• Quick Disbursal: The disbursal of the PNB Housing Finance Commercial Property loan is quick. If all your documents are perfect, the bank releases the loan instantly.