PNB Housing Finance Loan Against Property Balance Transfer

Save on repayment costs by transferring the balance of your existing loan against property to PNB Housing Finance. Opt for this facility available on Bajaj Markets and benefit from low interest rates starting at 9.24% p.a. You can also repay the loan over extended tenures ranging up to 20 years. Through a seamless online process, transfer your loan to PNB Housing Finance and enjoy your property’s value at better terms.

The PNB Housing Finance Loan Against Property Balance Transfer interest rates and charges are as follows:

*Disclaimer: The mentioned details are subject to change at the lender’s discretion.

Charges like the processing fee and foreclosure charges affect the total loan cost. However, A change in interest rates significantly impacts your EMIs and loan repayment. Let’s understand this better with an example.

In this example, the tenure and loan amount do not change. They are kept constant at ₹25 Lakhs and 10 years, respectively. However, the current lender charges an interest rate of 15% p.a. Now assume that PNB Housing Finance enables you to transfer your loan at an interest rate of 9.24% p.a. Here, the EMI amount decreases drastically from ₹40,333.74 to just ₹31,994.57. This huge drop in interest charges and EMIs can help you save majorly over the remaining loan tenure.

Fulfil the following criteria to be eligible for a loan against property balance transfer from PNB Housing Finance:

• You must fall under the age bracket of 21 to 70 years

• You should have a net monthly income of at least ₹18,000

• If salaried, you must have a work experience of at least 3 years 

• If self-employed, you must have a business vintage of at least 5 years
   

The lender will check your credit score when assessing your loan eligibility. Also, you need  to furnish the documents listed below when applying for this facility:

• Identity Proof: Any one of the following

  • PAN card

  • Voter ID

  • Aadhaar card

• Address Proof: Any one of the following

  • Aadhaar card

  • Passport

  • Driving licence

• Income Proof:

  • For Salaried Applicants: Salary slips of the last 3 months and Form 16 of the last 2 years

  • For Self-employed Applicants: Certificate and proof of business, along with ITR filings of the last 3 financial years

• Latest degree to validate your educational qualification

• Self-attested copy of the title documents of the property and the approved plan