PNB Housing Finance Home Loan for Self Employed

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PNB Housing Finance offers a bespoke home loan service specifically for self-employed individuals. Looking into the unique financial needs of entrepreneurs, PNB Housing provides flexible and accessible financing solutions. Known for its reliable service and customer-focused approach, PNB Housing ensures that the loan application process is straightforward and efficient. This allows self-employed professionals to easily secure the necessary funds for buying, building, or renovating their homes, supported by competitive interest rates and adaptable repayment options suited to their financial situations.

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Table of Content

1. PNB Housing Finance Home Loan for Self-Employed Highlights

2. PNB Housing Finance Home Loan for Self-Employed Fees and Charges

3. PNB Housing Finance Home Loan for Self-Employed Documents Required

4. PNB Housing Finance Home Loan for Self-Employed Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

PNB Housing Finance Home Loan for Self-Employed – Highlights

Feature	Description
Flexible Tenure	Up to 30 years, depending on age at loan maturity.
High Loan to Value	Financing up to 90% of the property’s value.
Competitive Rates	Attractive interest rates tailored for self-employed
Minimal Prepayment Fees	No charge on floating rate loans, low on fixed rates
Quick Processing	Efficient application and approval process

PNB Housing Finance Home Loan for Self-Employed – Fees and Charges

Fee Type	Description
Processing Fee	Charged as a percentage of the loan amount varies by loan size
Prepayment Charges	Applicable for fixed-rate loans; none for floating-rate loans as per RBI guidelines
Legal Fees	Charged for legal verification of the property documents
Technical Valuation Fee	Charged for the technical assessment and valuation of the property
Late Payment Charges	Penalties for delayed EMI payments
Document Retrieval Charges	Charged for retrieving property documents post-loan closure
Conversion Charges	Fees for switching between fixed and floating interest rates

PNB Housing Finance Home Loan for Self-Employed – Documents Required

To expedite the processing of your home loan application, please ensure you have the following documents readily available:

Identity Proof: A government-issued photo identification document such as an Aadhaar Card, PAN Card, Passport, or Voter ID Card.
Residence Proof: Documentation verifying your current address, which may include recent utility bills (past three months), an Aadhaar Card, a Passport, or a registered Rental Agreement.
Income Verification: Proof of income for the past years, including salary slips (past three months), Form 16 (for salaried individuals), or a certified Employer’s salary certificate. Self-employed individuals may need to submit Income Tax Returns and financial statements.
Employment Verification: Documentation confirming your current employment status, which may include a government-issued ID card, a Service certificate issued by your employer, or an official employment letter.
Financial Information: Bank statements for the past six months to provide a comprehensive view of your financial standing.
Property Documents: Documentation related to the property for which you are seeking a loan, including the Sale Deed, Agreement to Sell, Builder-Buyer Agreement, or Allotment Letter (depending on the property type).

PNB Housing Finance Home Loan for Self-Employed – Eligibility Criteria

Age: Must be 21 years of age at application and under 70 years of age at loan maturity.
Income: Requires proof of stable income through the last three years of Income Tax Returns.
Business Stability: Business should be established and operational for at least three years.
Credit Score: A credit score of 650 or higher is preferred.
Property Valuation: Loan amounts are based on the property’s appraised value.
Documentation: Essential documents include business proof, financial statements, and KYC.

Frequently Asked Questions (FAQs)

What is the repayment term for a PNB Housing Finance home loan for the self-employed?

The repayment term for PNB Housing Finance home loans for self-employed individuals can extend up to 30 years, depending on the borrower's age at maturity.

What is the minimum age for a PNB Housing Finance home loan for a non-salaried person?

The minimum age requirement for PNB Housing Finance home loans for non-salaried persons is 21 years at the time of application.

What is the tenure limit for PNB Housing Finance home loans for non-salaried people?

The maximum tenure for PNB Housing Finance home loans to non-salaried individuals is typically up to 30 years.

What is the minimum and maximum PNB Housing Finance home loan amount for a non-salaried person?

The minimum home loan amount for non-salaried persons at PNB Housing Finance is ₹5 lakhs, with the maximum amount depending on the applicant's repayment capacity and the property's value.

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