When you apply for a PNB Housing Finance Home loan you need to take the following steps given below:

1. Fill up an application form digitally and apply for a home loan
2. Necessary documents like KYC, Financial, and Property documents need to be submitted
3. The PNB Housing Finance begins processing of the loan along that includes legal and technical verification
4. The loan eligibility of the applicant is determined. After which PNB Housing Finance will provide a sanction letter. It will include a few important details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions
5. After submitting all the required documents and raising a home loan disbursement request, PNB Housing Finance will initiate the process of issuing your home loan disbursement cheque

There are a few documents that you need to submit while applying for a PNB Housing Finance. They are given below:

A major reason why you should select PNB Housing Finance is that it provides you with affordable EMI’s, asks for minimal documentation, and also offers lowest interest rates.

Typically, after submitting all the required documents to secure a PNB Housing Finance Home Loan, it will take about 4-5 working hours to sanction a home loan.

To secure a PNB Housing Finance Home Loan you need to have a minimum CIBIL score of 611+ and above.

The maximum loan amount sanctioned by PNB Housing Finance is Rs 1 crore and the minimum is Rs 8 lakhs.

It is not necessary to have a co-applicant while applying for a PNB Housing Finance Home Loan. However, if you do have one then it helps in increasing your loan eligibility and proving to your lender your ‘Creditworthiness’ and chances to improve terms and conditions.

After you apply and secure PNB Housing Finance Home Loan then, the rate of interest (ROI) on it will change during tenure depending on the type of ROI you select. So if you opt for a floating interest rate then there will be frequent changes seen. However, if you select a fixed rate then there will be no change.

It is essential for you to understand that having IT returns for three financial years helps in enhancing your chances of securing a PNB Housing Finance Home Loan. Moreover, you can still secure a home loan from this NBFC despite not having IT returns for three financial years to show, provided you seek a low loan amount and possess a good score.

After you submit all the necessary documents, it is checked, and the PNB Housing Finance sends you a home loan sanction letter, it should take about 1 to 2 working days to get disbursed.

There are few additional details that you need to know about PNB Housing Finance Home Loan. They are given below: 

1. Types of PNB Housing Finance Home Loan:

   There are few types of PNB Housing Finance Home Loan (PNBHFHL) available. They are as follows: 

   1. PNBHFHL Home Purchase Loan:

      Typically, this is a home loan for purchase of property, construction, and improvement purposes. 

   2. PNBHFHL Home Loan Construction Loan:

       This type of home loan is specifically for construction of residential property. 

   3. PNBHFHL Home Improvement Loan: 

       As the name suggests this type of home loan is for carrying out renovation work. 

   4. PNBHFHL Home Extension Loan:

       This type of home loan is to help add more space to your existing home. 

   5. PNBHFHL Home Loan for NRI’s: 

      This home loan offers Non-Resident Indian or NRI to finance,purchase, or construct your home. 

   6. PNBHFHL Roshni Home Loan: 

       This is an affordable home loan catering specifically to self-employed individuals belonging to low/middle income groups.