PNB Home Construction Loan

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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.

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Table of Content

1. PNB Bank Construction Loan Interest Rates

2. PNB Bank Construction Loan Fees and Charges

3. PNB Bank Construction Loan Eligibility Criteria for Salaried

4. PNB Bank Construction Loan Eligibility Criteria for Self-Employed

5. PNB Bank Construction Loan Documents Required for Salaried

6. PNB Bank Construction Loan Documents Required for Self-Employed

7. Features of PNB Bank Construction Loans

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

PNB Bank Construction Loan Interest Rates

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

Loan Name	PNB Housing Home Construction Loan
Interest Rate	8.50% p.a.-10.75% p.a. for salaried employees (on loan amounts up to 35 lakhs) 8.80% p.a.-11.05% p.a. for non-salaried people (on loan amounts up to 35 lakhs) 8.50% p.a.-10.95% p.a. for salaried employees (on loan amounts above 35 lakhs) 8.80% p.a.-11.45% p.a. for non-salaried people (on loan amounts above 35 lakhs)
Loan Tenure	20 years for self-employed/ business owners 30 years for salaried
LTV Ratio	Up to 90% of the property value

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.

Eligible Candidates: Salaried Employees/ Professionals
Age Limit: 21-70 years*
Minimum Monthly Income: As specified by the lender
Minimum Work Experience: 3+ years
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:

Eligible Candidates: Self-Employed/ Business Owners (May Differ)
Age Limit: 21-70 years*
Minimum Income: As specified by PNB Bank
Minimum Business Age: 3+ years
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:

Identity Proof: Aadhar Card/ Valid Passport/ Driving License/ Telephone Bill/ Ration Card/ Election Card
Address Proof: Utility Bills/ Voter’s ID/ Aadhar Card
Income Proof: Salary Slips/ Form 16/ Bank Statements for the last 6 months
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:

Identity Proof: Aadhar Card/ Valid Passport/ Driving License/ PAN card
Address Proof: Voter’s ID / Aadhar Card/
Income Proof: 3 Years of Income Tax Returns/ Accountant Certified Balance Sheet/ Bank Statements for the last 12 months
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