PNB’s Regular Housing Finance Scheme for Public reaches out to people looking to make thei dream of owning a house true.
A person can avail this loan for following purposes:
- Construction or purchase of new/old house/ flat/ plot (Finance for purchase of plot is allowed only under Normal Scheme).
- Purchase of house/ flat on First Power of Attorney basis from the original allottee.
- Carrying out repairs/ renovations/ additions/ alterations/ furnishing.
- After 3 years loan for personal needs allowed only under Flexible variant.
Eligibility
Borrower should be having regular source of income. Income of spouse/children can also be added.
Loan Amount
For construction/purchase of house/flat - Need based.
Cost of car parking upto the maximum extent of 5 per cent of the cost of flat/house can be considered in the cost of the project.
For carrying out repairs/ renovations/ additions/ alterations: - Maximum of Rs. 20 lakh
For furnishing of house – Maximum Rs. 2 lakh
For purchase of Land/ Plot - Maximum Rs. 20 lakh
Margin
- Construction/ purchase/ repairs/ renovations/ additions/ alterations – 25 per cent
- Land/ Plot – 40 per cent
Repayment
For construction/purchase of house/flat - Maximum of 25 years or borrowers attaining age of 65 years whichever is earlier, to be repaid in equated monthly instalments inclusive of maximum moratorium period of 18 months.
For carrying out repairs/ renovations/ additions/ alterations - Maximum of 10 years inclusive of maximum moratorium period of six months.