PNB Bank Loan Against Property (LAP)
- Interest Rate is 10.55% to 14.30% per annum
- Loan Amount: Minimum of Rs.2 lakhs and Maximum pf Rs.5 crores
- Loan Tenure up to 10 years
- Processing Fee is 0.75% of the loan amount subject to a maximum of Rs.1 lakh
PNB Loan Against Property (LAP) starts at 10.55% interest rate per annum for a tenure of up to 10 years. It can be availed as a term loan or overdraft facility, and can be used for any financial requirement – be it personal or business-oriented. The maximum funds a borrower can avail is Rs.5 crores.
| PNB Bank Loan Against Property (LAP) Summary | |
|---|---|
| Interest Rate | 10.55% to 14.30% per annum |
| Loan Amount | Minimum: Rs.2 lakhs, Maximum: Rs.5 crores |
| Loan Tenure | Up to 10 years |
| Processing Fees | 0.75% of the loan amount, subject to a maximum of Rs.1 lakh |
Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Eligibility Criteria for PNB Loan Against Property
To avail of a PNB loan against property,
- be salaried or self-employed residents with a minimum age of 21 years and maximum age of 65 years.
- have a minimum net monthly income of Rs.25,000 if salaried and minimum net annual income of Rs.3,00,000 if self-employed.
Want to know how much mortgage loan you qualify for?
Find out with the Fincity loan against property calculator.
PNB Loan Against Property Interest Rate
The PNB Loan Against Property is linked with the RBI Base Rate, with the applicable interest rate being a combination of the base rate and a spread decided by the bank based on the applicant’s credit score, loan amount and overall risk profile. Currently, PNB Bank Mortgage rate starts at 10.55% and can go up to 14.30% per annum.
Note :The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
PNB Processing Fee and Other Charges
Here’s a list of the processing charges a borrower can expect when they apply for a PNB LAP.
| Particulars | Amount |
|---|---|
| Processing Fee | 0.75% of the loan amount, subject to a maximum of Rs.1 lakh |
| Documentation Charges |
|
| Inspection Charges | Rs.250 |
| Prepayment Charges | NIL |
| Statutory/Regulatory Charges | As per Actual |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
PNB Loan Against Property EMI Calculation
Fincity financial advisors highly recommend that you compare a number of LAP schemes before you decide on a particular one. Using a Loan Against Property EMI calculator gives you a detailed schedule of your EMIs and can help you decide faster.
Documents Required for a PNB Loan Against Property
Below is a list of documents required for a Mortgage Loan with PNB Bank.
| Salaried Individuals | Self Employed Individuals |
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Note : Required documents must be self-attested and may slightly differ.
PNB Loan Against Property (LAP) Benefits
PNB Mortgage loans come with no prepayment charges. The loan processing is quick and hassle-free, and the documentation process is simple.
Find the best mortgage loans with the best terms in no time with the help of our loan assistants.
Fincity helps you with unbiased, free guidance to ensure you crack the best mortgage deal suited to your circumstance. For immediate help, connect with an expert at lap@fincity.com.