PNB Home Construction Loan

Everyone aspires to own a home. When it comes to materializing this aspiration, a shortage of funds can be a roadblock. However, the PNB Bank house construction loan can help you out. The renowned bank offers loans up to 5 crores at competitive rates to facilitate the building of your house right from laying the foundation stone.

PNB Bank construction loan can be tailored according to your budget, sanctioned design, and construction requirements. You can learn more about the PNB Bank home construction loan, eligibility criteria, interest rate, and other relevant aspects below.

PNB Bank Construction Loan Interest Rates

Take a quick look at the interest rate and other features offered by this loan.

PNB Bank Construction Loan Fees and Charges

Apart from the PNB Bank home construction loan interest rate, you will have to pay 0.35-1% of the loan amount as processing fees. A GST of 18% is applicable on loan-related services.

PNB Bank Construction Loan Eligibility Criteria for Salaried

Salaried applicants must fulfil the following criteria for securing a home construction loan from PNB Bank.

1. Eligible Candidates: Salaried Employees/ Professionals
2. Age Limit: 21-70 years*
3. Minimum Monthly Income: As specified by the lender
4. Minimum Work Experience: 3+ years
5. Residential Status: Indian

* The specified age limit may differ

PNB Bank Construction Loan Eligibility Criteria for Self-Employed

For self-employed applicants, the eligibility criteria for a house construction loan from PNB Bank are as follows:

1. Eligible Candidates: Self-Employed/ Business Owners (May Differ)
2. Age Limit: 21-70 years*
3. Minimum Income: As specified by PNB Bank
4. Minimum Business Age: 3+ years
5. Residential Status: Indian

*The specified age limit may differ

PNB Bank Construction Loan Documents Required for Salaried

Salaried applicants are required to submit the following documents:

1. Identity Proof: Aadhar Card/ Valid Passport/ Driving License/ Telephone Bill/ Ration Card/ Election Card
2. Address Proof: Utility Bills/ Voter’s ID/ Aadhar Card
3. Income Proof: Salary Slips/ Form 16/ Bank Statements for the last 6 months
4. Property Documents: Proof of land ownership/ Approved Plan copy/ Other documents

PNB Bank Construction Loan Documents Required for Self-Employed

Self-employed applicants need to furnish the following documents:

1. Identity Proof: Aadhar Card/ Valid Passport/ Driving License/ PAN card
2. Address Proof: Voter’s ID / Aadhar Card/ 
3. Income Proof: 3 Years of Income Tax Returns/ Accountant Certified Balance Sheet/ Bank Statements for the last 12 months
4. Property Documents: Approved Sanction Plan copy/ Land Ownership Document

Features of PNB Bank Construction Loans

Plot plus construction loan of PNB Bank offers the following features:

• High Loan Amounts up to 5 Cr.
• Accepts Joint Loan Applications
• Available for applicants with CIBIL scores >=825 to <170
• Hassle-free, online loan sanction facility 
• Multiple repayment options