PNB Housing Finance Limited offers loans against properties to its customers helping them financially in planning and making substantial financial investments. These loans may be against residential or commercial properties. The loan value depends on the property value considering 50% of the property cost as per certification of PNBHFL or the repayment capacity, whichever is lower.
At loanbaba.com, you can access free-to-use PNB Housing Finance loan against property EMI calculator, check your PNB Housing loan against property eligibility, compare loan against property interest rates in PNB Housing Finance. You can apply for loan against property online at our website.
These loans can be opted for by both the salaried, professional and non-professional self-employed people.
During the maturity of the loan, the applicants should be not more than 60 years of age in case of salaried class and not more than 65 years of age in case of professional or non-professional class.
The interest rates of PNB loans against properties may be floating or fixed as per the type of loan. The floating rate is generally associated to the benchmark rate that is, 14.35% p.a. The classification is as follows:
| Loan opted against the type of Property | Floating Interest Rate |
|---|---|
| Commercial property | 11 % - 11.5 % |
| Residential property | 10.75 % - 11.25 % |
| Commercial or residential plot | 12 % - 12.5 % |
The fixed rate scheme is applicable for a 3, 5 or 10-year loan where the interest rates for loans opted for more than these tenures automatically are applicable at floating interest rates. The rates applicable are:
| Loan opted against the type of Property | Fixed interest for 3 years | Fixed interest for 5 years | Fixed interest for 10 years |
|---|---|---|---|
| Commercial property | 11.25 % - 11.75 % | 11.25 % - 11.75 % | 11.5 % - 12 % |
| Residential property | 11 % - 11.5 % | 11 % - 11.5 % | 11.25 % - 11.75 % |
| Commercial or residential plot | 12.00% - 12.50% | 12.00% - 12.50% | 12.50% - 13.00% |
