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Loan Details

Interest Rate

10.55% per annum onwards

Processing Fee

0.75% of the total amount of loan up to a maximum of Rs 1 lakh

Prepayment

Charges

Tenure

15 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest

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PNB Bank Loan Against Property
 

a. Age –

· 21 – 60 years (salaried)

· 21 – 65 years (non-salaried)

b. Credit Score – Higher the Credit score, the lower is the interest
rate.

c. Employment type: Salaried/Self-Employed Individuals/Companies or
Firms

d. Minimum net income

· For salaried: Rs 25000/- per month

· For non-salaried: Rs 3,00,000 per annum with latest ITR

e. Work Experience

· For salaried – Stable job with Payslip as proof

· For Non-salaried – Stable Income with ITR as proof


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All the applicants are required to submit the below-listed documents with the bank-

●      Filled-up application form

●      Recent Photographs

●      ITR of previous 2 years

●      Proof of Identity

●      Proof of Residency

●      Proof of Signature Authenticity

Self-employed candidates are required to submit the documents listed below along with the ones mentioned above –

●      Proof of business establishment

●      Address proof of Business

●      Income Tax Returns, Financial statements, Balance sheets, Profit and Loss accounts (CA certified) of the past 3 years as proof of business continuity

●      Copy of bank statement of the past 12 months

Salaried applicants are required to submit a copy of the following documents besides along with the ones mentioned above -

●      Last 6 months of bank statement showing your income or salary details

●      Copy of salary slip of the past 3 months

●      Copy of all relevant documents showing ownership of property that is to be mortgaged

●      Previous 2 years’ Form 16 and ITR details

●      Employer’s ID

●      Proof of work experience

Identity Proof (for all borrowers)

●      Driving License

●      Aadhar Card

●      Valid Passport

●      PAN Card

●      Voter ID

 Proof of Residential Address (for all borrowers)

●      Utility Bill

●      Receipt of Property Tax

●      Approved Building Plan

●      Valid Passport

●      Voter ID

●      Registered Rent Agreement

Birth Date Proof (for all borrowers)

●      Driving License

●      Valid Passport

●      Voter ID

●      Aadhar Card

Property documents (for all borrowers)

●      Registered Sale Deed

●      Lease Deed

●      Conveyance

●      Past Sale Deeds

●      Receipt of House Tax Return

Building Plan approved by Municipal Corporation


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The loan verification process is easy and requires less time in terms of approval, verification, and disbursal:

1. The borrower can apply for the loan directly by filling the online application form and submitting the supporting documents. In case you are unwilling to do it online, you can visit the bank and apply for a loan. Alternatively, signup at apnapaisa.com, fill the form, and one of our customer representatives will contact you in 24 hours to schedule a meeting to pick up the documents.

2. Once the bank receives the duly filled application and documents, it will be verified by the concerned authority of PNB Bank.

3. The loan will be approved if everything is correct. Once all the legal documentation is complete, the loan amount will be disbursed in the borrowers account as a lump sum.


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Punjab National Bank loan against property rate of interest starts from 10.55% onwards.