PNB Home Loan for Government Employees

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PNB Home Loan is exclusively made to meet the housing needs of government employees, creating an opportunity to own a home with competitive interest rates.The purpose of the loan includes construction, the purchase of built or under-construction houses or flats, additions, repairs, renovations, alterations, furnishing costs, and land or plot purchases for house building.

The loan also addresses cost escalation for under-construction flats for existing Housing Loan borrowers.

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Table of Content

1. PNB Home Loan for Government Employees: Highlights

2. PNB Home Loan for Government Employees: Fees and Charges

3. PNB Home Loan for Government Employees: Documents Required

4. PNB Home Loan for Government Employees: Eligibility Criteria

5. PNB Home Loan Schemes for Government Employees

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

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Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

PNB Home Loan for Government Employees: Highlights

Interest Rates	Eligibility Criteria	Quantum of Finance	Repayment Period
Competitive rates	Govt employees, Para Military personnel, and pensioners	Varies by project	Up to 30 years

PNB Home Loan for Government Employees: Fees and Charges

Punjab National Bank (PNB) Home Loan for Government Employees features a processing fee of 0.35% to a maximum of Rs. 15,000, with documentation charges limited to Rs. 1,350.

The charged interest rate under the scheme for housing loans is 8.50% for a limit of 75 lakhs and 8.55% for a limit of more than 75 lakhs.

PNB Home Loan for Government Employees: Documents Required

To apply for a PNB Home Loan for Government Employees, you must submit the following documents:

Completed Loan Application Form with a photograph
Address Proof
Age Proof
Educational Qualification Proof
Income Proof: Salary certificate, income tax returns/form16 for the last 2 years
Salary Account Bank Statements for the last 6/12 months.

PNB Home Loan for Government Employees: Eligibility Criteria

Government employees, including those from Central Government, State Government, Para Military personnel, and pensioners, are eligible for PNB Home Loans.

PNB Home Loan Schemes for Government Employees

The Quantum of Finance under these PNB home loan schemes for government employees is designed to cater to diverse housing requirements.

For the Construction, Additions, or Purchase of a House/Flat, PNB offers a need-based loan, considering the project cost and the borrower’s repaying capacity.
In the case of purchasing land or plots for a House Building, the Home Loan extends support with a maximum limit of Rs. 50 lakh.
For those seeking funds for repairs, renovations, or alterations, PNB Home Loan Schemes for Government Employees offer a maximum loan amount of Rs. 50 lakh.
The scheme enables borrowers to include the cost of furnishing within the project, allowing them to allocate up to 15% of the Home Loan amount or Rs. 50 lakh, whichever is lower based on the prescribed loan-to-value (LTV) ratio.

Overall, PNB’s Home Loan for Government Employees stands out as a comprehensive and affordable solution, addressing the specific housing needs of those in government service.