Product Details
LOAN FOR COMMERCIAL PROPERTY
New delhi
A Quality Product from
PNB Housing Finance Limited [View Profile]
New Delhi - India
Description :
We provide loans to individuals against mortgage of their existing residential immovable property situated in urban/semi-urban/metro centres.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 RATE: (With effect from 1.07.2006)
Interest rate both for individuals and builders will be 12.00%.
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 lumpsum through his bank account. Disbursement will be made after the property has been technically and legally appraised and legal documentation has been completed.
LOAN REPAYMENT: The loan would be repaid by way of Equated Monthly Instalments (EMIs) consisting of principal and interest within a maximum period of 10 years. Repayment will commence in the month subsequent to the month in which loan has been disbursed.
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FUTURE RENTAL SECURITISATION: For the convenience of our borrowers, we have started innovative scheme wherein we provide loan against assured rental receivable for their owned property which has been let out to reputed/govt. comapnies.
ELIGIBILITY: Property owners having properties at Metro/Urban/Semi-urban areas who have let out their properties to Public Sector Undertakings/Government/Semi-government and reputed corporates, banks, financial institutions and multi-national companies can avail loan against future rental receivable.
LOAN AMOUNT: Maximum Loan Amount would be 80 % of the total future rent receivable within the un-expired period of lease deed subject to a maximum period of 10 years. Loan amount will be restricted to a maximum of 80% of the market value of the property.
INTEREST RATE: (With effect from 1.07.2006)
The rate of interest will be 11.50%.
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PNB Housing Finance Limited deals in :
We provide services of housing finance Our services: - Loan against Property - Loan for Commercial Property - Loan for Future Rental Securitisation - Line of Credit Facility - Property for sale
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