PNB Housing Home Loan – Application Process Simplified

housing home loan

Getting a housing loan approved can be one of the best experiences since it brings you closer to your dream of becoming a house owner. 

A PNB Housing loan can fulfill your housing aspirations conveniently. Besides listing all vital loan details on its website, PNB Housing also has a vibrant user community. You can read the PNB Housing Finance comments to make an informed decision.  

This article explains the procedure to apply for a PNB Housing loan and tips to ensure quick approval. 

What is PNB Housing Loan?

PNB Housing loan refers to a credit facility through which you can construct or purchase a house. The company evaluates the property status and the borrower’s financial profile to decide the loan amount and interest rate.

PNB Housing usually sends the borrower a loan agreement after finalizing the loan amount, interest rate, and loan terms. The borrower must read the document fully, sign it, and send it back to the company.

On receiving the loan agreement, PNB Housing disburses the loan amount to the borrower’s account. The borrower becomes free to use the loan amount mentioned in the loan agreement.    

What are the Salient Features of the PNB Housing Loan?

According to PNB Housing Finance comments, a PNB Housing loan offers the following benefits to borrowers:

Quick Approval

The processing time of PNB Housing loans is one of the fastest in the industry. 

As soon as you apply for a loan, the company sends a representative to your registered address. The representative helps you fill out the application form, collects the documents, and informs you of the property inspection date. 

After the property inspection, PNB Housing disburses the loan amount directly to your bank account.  

Low Rate of Interest

PNB Housing loan rates are some of the lowest in the industry. The rate of interest hovers between 7.50% and 9.80% for a loan amount below INR 35 lakh and between 7.60% and 10.00% for a loan amount above INR 35 lakh. 

The interest rate depends on the credit score. So, you can get the lowest rate if your credit score exceeds 800. 

Seamless Application Process

Applying for a PNB Housing loan is as easy as 1-2-3. You can visit PNB Housing’s official website, enter your details by clicking the ‘Apply Now’ tab, and wait for a loan officer’s call. 

Read More: Best Short-Term Loan in 2022

The loan officer schedules an appointment to visit your registered address and collect the documents. After verification, PNB Housing sends the loan amount to your bank account.

Minimal Documentation

Since the PNB Housing loan is a secured loan, you don’t need to submit too many documents. All you need to do is keep your PAN, Aadhar card, income proof, ITR, bank account statement, property papers, and processing fee cheque with you. The loan officer visiting your registered address will seek these documents from you and verify them with the original documents.

It is worth noting that the loan officer will take the original property papers with them and issue a receipt. The property papers are held as collateral security and are returned after the final EMI has been paid.     

Easy Eligibility

The eligibility criteria at PNB Housing is easy and convenient. Any Indian citizen between 18 and 60 can apply for a PNB Housing loan. 

Although a credit score of 800 increases your eligibility to get the best home loan interest rate, you can also apply if your credit score is lower. You can even check out PNB Housing finance comments to understand how the easy eligibility conditions have helped the applicants.

Long Duration

Once you apply for a PNB Housing loan, you get thirty (30) years to repay. A long-term home loan reduces the EMI and makes it more affordable. 

However, the lender may increase the interest rate slightly on such loans to minimize their risks. 

High Loan Amount

The loan amount of a PNB Housing loan can be as high as 90% of the property value. So, if the value of the property you wish to purchase or construct is INR 50 lakh, you can get a loan amount of up to INR 45 lakh. 

However, it is worth noting that you have to make a minimum downpayment of 10% of the loan amount. Some borrowers increase the down payment amount to reduce their outstanding debt.


PNB Housing loan is not only easy to get but also power-packed to give you the best benefits at an affordable cost. So, what are you waiting for? Visit PNB Housing online or offline to apply for a low-interest home loan.