PNB Home Loan for Self Employed

Wondering how to apply for a home loan as a self-employed individual? Look no further: the PNB home loan for self-employed applicants offers competitive rates, flexible terms and thorough guidance throughout the loan application process. 

PNB Home Loan for Self-Employed – Highlights

PNB Home Loan for Self-Employed – Fees and Charges

The processing fees and documentation charges equate to 0.35% of your loan amount, with a minimum of Rs. 2,500 and a maximum of Rs. 15,000. For a loan transfer, the fee is Rs. 2,500, while documentation costs Rs. 1,350.

If you are a part of the Pradhan Mantri Awas Yojna (EWS/LIG/MIG) scheme, the respective benefits apply. Customers who have paid upfront may be charged Rs 2,500 under the PNB Max Saver provision.

PNB Home Loan for Self-Employed – Documents Required

If you’re self-employed and considering a PNB home loan, the documentation is paramount. Documents required for the PNB home loan for self-employed applicants include: 

• Address proof – Aadhar card, passport, driving license, telephone bill, ration card, election card, or any other certificate from statutory authority.
• Age proof – PAN card, passport, or any other certificate from statutory authority.
• Income proof – For business and Income Tax Return (ITR).

PNB Home Loan for Self-Employed – Eligibility Criteria

If you are a self-employed person considering taking a home loan, it’s important to note the following eligibility criteria while opting for a PNB Home Loan for self-employed: 

• Age: Applicants must be 21 years or older at the time of applying for a home loan, the age should not exceed 70 years at the time of home loan maturity.
• Residency: You must be a permanent resident of India.
• Work experience: At least 3 years of business continuity is required.
• Loan Amount: Loan amounts can start from INR 8 lakh.
• Tenure: You can opt for a tenure of up to 20 years.
• LTV: You can get up to 90% Loan to Value.
• Additional: You must file Income Tax Returns.
• Credit Score: A minimum credit score of 611 is needed to apply for a home loan.