Punjab National Bank (PNB) Home Loan
We at Oasis aspire to make your experience easy & comfortable. Having a tie up with all leading Banks & NBFC companies we do doorstep delivery of your home loan.Choose a Home Loan which is Flexible & easy on your finances.
TYPES OF HOME LOAN
- Fresh Home Loan
- Ready to move in
- Home Loan Balance Transfer
- Balance Transfer Plus Top-up
- Plot Loan
- Construction Loan
Home loans are generally granted to individuals who are looking at buying an under constructed, new or resale residential property, actual construction of the house including interiors, purchase a plot, renovation etc.
- Being a resident/non-resident Indian, over 21 years of age, your profile could be:
- Self employed
Your eligibility criteria will depend on the following factors:
- Your monthly income (Includes the gross salary. Regular Bonus Incentive & any other side income)
- Income of your parents, spouse and siblings can be clubbed to increase your eligibility.
- Total value of the property
- Loan Tenure
- Current Age
- Up to retirement age of 60 years
- Pension time will be taken into account.
As a general practice, the lender finances 80-90% of the total amount of the residential property. However, exceptions do apply to the above stated rule. The net loan amount is dependent on several factors like monthly income, previous/existing loans, track record etc.
Please note- As per the RBI ruling, financial institutions do not fund registration and stamp duty fee as part of the net loan amount.( This is an ambiguous area as the amount can be refinanced.
The rate of Interest of Home Loans can be fixed/floating.
All Banks & NBFC’S have to follow guidelines of the Reserve Bank of India as per the margin money in the case of Banks & discount in case of NBFC.
The Home loan floating rate fluctuates as per the PLR of the RBI, which in turn is dictated by the market economy.
Customers wanting to opt for a fixed rate of Interest can avail of our expertise to Find out the options best suited to their need.
Fixed ROI are offered for tenure of 5 to 10 years. (At the current rate or with an additional margin.)
Currently, it is uncommon for financial institutions to provide a fixed rate of interest which remains common throughout the loan tenure. Many prefer dual rate of interest which remains fixed only for certain duration.
Processing time could be up to 15 days to a month, the approval can be divided into personal details & eligibility, approvals with reference to the Property.
FEES & REPAYMENT
A cheque in the name of the Bank or NBFC needs to be included with the home loan application.All Banks & NBFC’s have varied processing fees which depends on the loan amount & property in question.
As per their rules & regulations some Banks allow a token amount to be charged at the time of Log in .Whilst others could take an advance cheque for the total amount ,which could range from 10000/-plus service tax upto 0.25%.
Normally lenders offer an upper limit of 30 years; however this may vary keeping in account several deciding factors like age etc.
- Passport-size photographs
- Latest three months’ Salary Slips (indicating break up of Gross salary, i.e Basic Pay, House rent and Net Salary after deductions)
- Six months’ bank statement, reflecting salary credits updated within the 15 days before the loan application
- Identity Proof (Any One ): Pan Card, Passport, Driving License or Voter’s ID card, employee identity card as identity proof and signature proof in case of government employees
- Residential proof
- If you are a self-employed professional or businessperson, you need to provide documents proving the existence of your business (for businesspersons) and academic qualifications (for professionals) and financial statements for both.