PNB provide loans to individuals against mortgage or property. Finance would be made available for personal requirements of borrowers such as education, marriage of children, family function, foreign travel, medical expenses, furnishing the house, buying a computer or other consumer durables, etc. by mortgaging their existing immovable property.
ELIGIBILITY:
Any individual having regular source of income can apply for the loan. Age of the applicant should not be more than 55 years.
LOAN AMOUNT:
Minimum loan amount would be Rs. 50,000/-. Maximum Loan Amount would be 50 % of the market value of the property as certified by PNBHF's approved valuer OR actual loan eligibility as determined on the basis of repayment capacity of the borrower, whichever is less. In case other earning family members are offered as co-borrowers, their income can also be clubbed with that of the borrower for computation of eligible loan amount.
INTEREST RATES: (Individual) (Present PNBHFR 14.25%)
SECURITY:
We shall require Equitable/Registered Mortgage of property against which loan is being sought. Guarantee of one/ two persons will be required as per existing guidelines of the company.
LOAN DISBURSEMENT:
The loan would be disbursed directly to the borrower in lump sum through his bank account. Disbursement will be made after the property has been technically and legally appraised and legal documentation has been completed.