Quick Guide on Home Loan Process at PNB Housing (Terms & Conditions)

Purchasing a home is one of the major accomplishments in life, which helps attain a sense of freedom and security. 

However, the thought of buying a permanent residence is a scary one for many people due to insufficient funds and a lack of information about availing of a home loan. 

Obtaining a home loan from PNB Housing is a cakewalk, and one can easily apply for it without stepping outside. Upon successful submission and proper verification, the money is instantly disbursed without any hassle, thereby making you a proud homeowner. 

Scroll down to learn more about the PNB Housing Home loan Process.

Obtaining a home loan from PNB Housing is a simple and easy task if you know the essential stages associated with it. Hence, to transform your dream of perfect abode into reality through PNB Housing Home Loan, follow the below-mentioned steps:

Step 1: Placing your home loan request 

• Start with an inquiry

An ideal way to begin the home loan proceedings would be to inquire about it through the official PNB Housing website or toll-free customer care number, free of charge. Subsequently, a bank executive will contact you with the details regarding submitting the home loan application. 

You can apply online for a home loan or visit your nearest branch for the same.

• Keep the documents handy

While filling out your loan application form, you should keep the basic supporting documents ready at hand, essential for your home loan processing. The pre-requisites include:

1. Age & identity proof, i.e. Pan Card, Aadhaar Card 
2. Residence address proof, i.e. Passport, Voter Card 
3. Income proof, i.e. salary slips, Form 16, ITR statement
4. Bank account statement
5. Property documents 

Subsequently, a PNB Housing representative will connect with you to collect the required documents and submit them along with the loan processing fee to start the next stage of home loan processing.

Step 2: Home loan approval

• Assessment of loan application

In the next step, the loan department will evaluate your financial status and credibility with a home loan calculator based on your monthly income, remaining years of service, credit score, nature of employment, and existing loan EMIs.

• Property Valuation

Once your financial eligibility is determined, the PNB Housing will evaluate the property value to decide the final loan amount you are eligible for.

• Legal Authorizations

In the last step of this stage, the loan department will check and confirm the legal certifications associated with the property to avoid any discrepancies later.

Upon successful completion of the above steps, your home loan is sanctioned by the PNB Housing and will present you with a loan agreement/offer stating all the terms and conditions related to it.

Step 3: Loan amount disbursement

• Signing the loan documents

With your loan agreement ready, all you have to do is read and understand all the terms before signing it to avoid any confusion later regarding the loan parameters and various associated expenses. Once signed, submit it along with original property documents and a few post-dated cheques to complete the process.

• Funds disbursal

Subsequently, the lender will issue a cheque in favor of the builder/seller. Remember to deposit your EMIs regularly. You are all set to live in your dream home.