Documents Required for PNB HFL Home Loan
1. Loan Application Form and Photographs
- • Fully completed PNB HFL home loan application form.
- • Recent passport-sized color photographs of the applicant and co-applicants.
2. Proof of Identity (Any One)
- • PAN Card (essential for all applicants)
- • Aadhaar Card
- • Passport
- • Voter ID Card
- • Driving License
- • Ration Card or any other certificate issued by statutory authorities.
3. Proof of Residence (Any One)
- • Aadhaar Card
- • Passport
- • Voter ID Card
- • Driving License
- • Utility bills (electricity, water, telephone bill; not older than 3 months)
- • Registered rental or lease agreement (if applicable).
4. Proof of Age
- • PAN Card
- • Passport
- • Birth Certificate
- • School certificate or 10th marksheet.
5. Income Documents
For Salaried Individuals:
- • Latest 3 months’ salary slips
- • Form 16 or Income Tax Returns for the last two financial years
- • Bank statements for the last 6 months showing salary credits
- • Appointment or employment letter, if required
For Self-Employed Professionals and Business Owners:
- • Proof of business existence (business registration, GST certificate, trade license)
- • Audited financial statements, including Profit & Loss account and Balance Sheet for the last 2-3 years, certified by a Chartered Accountant
- • ITR (Income Tax Returns) for the last 2-3 financial years
- • Bank statements for the last 6 months (business and personal accounts)
- • Partnership deed (if applicable)
For Pensioners:
- • Latest pension slip
- • Bank statement showing pension credits.
6. Property Documents
For New or Under-Construction Properties:
- • Allotment letter from the developer.
- • Sale or builder buyer agreement.
- • Payment receipts to the builder.
- • Approved building plans and layout sanctioned by competent authorities.
- • Encumbrance certificate to establish a clear property title.
- • Occupancy certificate or possession letter (where applicable).
- • No Objection Certificate (NOC) from the builder or housing society permitting mortgage.
For Resale Properties:
- • Agreement to sell signed by buyer and seller
- • Sale deed or conveyance deed proving clear ownership
- • All previous sale deeds and the ownership chain.
- • Property tax receipts.
- • NOC from the society/building association.
- • Latest approved property map.
7. Other Supporting Documents
- • Canceled cheque or proof of bank account owned by applicant/co-applicant.
- • Processing fee cheque payable to PNB Housing Finance Limited.
- • Declaration of no pending litigation on the property.
- • Loan statements of any existing loans, if applicable.
- • Identity and address proof of guarantors, if any.
- • Power of attorney (in case of applications filed via authorized representative).
8. Documentation for NRI Applicants
- • Passport and a valid visa/residence permit.
- • Overseas address proof.
- • Latest employment contract or appointment letter.
- • Last 6 months’ salary slips and bank statements.
- • Power of attorney if applying through a local representative.
Major Details About PNB HFL Home Loans
1. Eligibility Criteria
- • Applicant must be between 18 and 70 years at loan maturity
- • Salaried individuals, self-employed professionals/business owners, and pensioners are eligible.
- • NRIs and Persons of Indian Origin (PIOs) can also apply
- • Good credit history and stable income are necessary
- • Co-applicants can include spouse, parents, children, and siblings to increase eligibility.
2. Loan Amount & Tenure
- • Loan amounts range from ₹5 lakh up to ₹5 crores, depending on the applicant’s profile and property
- • The maximum tenure available is up to 30 years, considering the applicant's age and preference.
3. Interest Rate & Charges
- • Competitive floating and fixed interest rates depending on the applicant’s credentials and loan type.
- • Processing fees are usually up to 0.50% to 1% of the loan amount, along with legal and technical charges
- • No prepayment penalty in most cases on floating rate loans
4. Repayment & Disbursement
- • EMIs are payable monthly through ECS/NACH or post-dated cheques
- • Loan disbursement depends on property status: full amount for ready-to-move properties or staged for under-construction.
- • Flexibility with step-up and step-down EMIs in some plans.
- • Balance transfer and top-up loans are available for existing borrowers.
5. Tax Benefits
- • Principal repayment is eligible for deduction under Section 80C up to ₹1.5 lakh/year.
- • Interest payment deduction is allowed under Section 24(b) up to ₹2 lakh/year
- • Tax advantages significantly reduce the net cost of the home loan
6. Advantages of Opting for PNB HFL Home Loan
- • Wide range of home loan products tailored for different customer needs, including rural housing and affordable segments
- • Strong nationwide presence with many branches for personalized service
- • Quick loan processing facilitated by digital tools and dedicated relationship managers
- • Transparent interest rates and fee structures to avoid hidden costs
- • Special schemes and reduced interest rates for women applicants and government employees
7. Tips for a Smooth Application Process
- • Collect and verify all documents prior to submission to avoid delays
- • Maintain a good credit score for better approval chances and attractive rates
- • Double-check all income certificates and bank statements for accuracy
- • Verify the property title and legal status before initiating the loan process
- • Use PNB HFL’s online tools to check loan eligibility and EMI estimates
- • Connect with official representatives or authorized dealers for any clarifications
Applying for a home loan with Punjab National Bank Housing Finance Limited requires a
thorough document checklist encompassing identity proof, income verification, detailed property
documentation, and additional supporting paperwork as applicable. Meeting these documentation
requirements diligently ensures an expedited sanction and disbursement process. With competitive
rates, flexible tenures, and extensive offerings, including special schemes for various borrower
categories, PNB HFL presents a dependable financing solution for prospective homeowners across
India.
Understanding the requirements and preparing your documentation in advance is the best way to
ensure a smooth, hassle-free journey towards realizing your dream home with PNB Housing Finance
Limited.