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| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 49,005 | ₹ 3,189 | ₹ 52,194 | ₹ 50,995 | 49.00 % | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
| ₹ 50,997 | ₹ 1,197 | ₹ 52,194 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||
In today’s world, owning a house is a dream for everyone. But managing the expenses that come with it is not everyone’s cup of tea. So, to overcome such situations, financial institutions have come up with the facility of Home Loans. One such Home Loan is provided by the Government-run bank Punjab National Bank. PNB Housing Loan is specially curated to help applicants who want to own a home and expand and renovate their property.
With this secured loan, the borrowers just need to make a down payment; the lender will cover the remaining balance (up to 90%* on loans under Rs. 30 lakh) entirely. The complete amount borrowed plus interest is subsequently paid back to the lender in equal monthly payments (EMIs). PNB Housing Loan is affordable with low-interest rates. The hassle-free housing loan from PNB Housing can assist you in achieving your goals, whether you're trying to buy, expand, or renovate a home.
If you are planning to apply for a home loan at PNB HFL Housing Loan there are certain details that you should be aware of, Let’s discuss
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Yes, but only if the owner wants to sell the property to a new buyer. A formal procedure must be followed in order to transfer a mortgage from a seller to a buyer. A letter of foreclosure must be given to the buyer by the seller. If the buyer's loan moves inside the bank, they will need to reapply for a home loan and pay the associated expenses.
The customer has the option to change the loan term voluntarily. To shorten the loan term, one can always prepay the loan's principle. To reevaluate the proposed loan term, PNB Housing will check your loan statement and most recent income documents.
Any home loan, including a PNB housing home loan, has a 30-year maximum term limit. This means, if you apply for a home loan with a 15-year term, you have the option of extending it by talking to your financial institution.
You might choose to go through a pre-approval loan process with a home financing organisation to get a house loan sanction. Typically, the loan is disbursed in 5-7 days. However, delays in the sanction procedure are frequently brought on by borrowers' failure to produce property or income documents.
An interest rate of 8.25% is applicable on the PNB HFL Housing Loan. However, don’t consider it as the sole eligibility criteria for getting a home loan. Other factors, such as age, salary, CIBIL score, etc., will also be considered.
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