Thu. Nov 30th, 2023
The Top Benefits of PNB Housing Loan Against Property, Latest News Adda

Lenders in India are quite dynamic; they offer loans for various purposes. 

However, each loan is unique in its eligibility criteria, loan amount, repayment tenure, interest rates, and loan terms. If you are looking for one loan that serves all purposes, it is a loan against land property.

PNB Housing is a reputed housing finance company registered with the National Housing Bank (NHB) and incorporated under the Companies Act, 1956. It has been in operation since 1988 and has a legacy of three decades in housing finance.

What is Loan Against Property?

A loan against property, or loan against land property, is a loan you can avail by submitting your property documents. Lenders like PNB Housing accept the property documents and approve a loan against propertyamount according to your eligibility. While you continue to possess the property that you have mortgaged, the property’s legal rights remain with PNB Housing until you have repaid the loan principal and interest in full.

The Top Benefits of Loan Against Land Property By PNB Housing

Here are the top benefits of a loan against land propertyby PNB Housing:

No Restrictions on End Use of Loan Funds

When you avail a loan against property from PNB Housing by submitting the required documents, you are free to use the funds in any way you like. While some borrowers use the funds for business expansion, foreign travel, education, or children’s marriage, others use it to sponsor a family event, pay medical bills, renovating the house, buying a high-value electrical or electronic gadget, or even purchase a house. While you are free to use loan against property documents to avail a loan, ensure that you do not withdraw the funds to spend on speculative activities like stock trading. 

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Simple Documentation

The documents you need to submit with the loan against propertyapplication form are simple and straightforward. Any salaried professional with property ownership may apply for a loan against land propertyfrom PNB Housing by submitting documentslike age, identity, and address proof, income statement, bank account statement, photograph, and property papers. If you are a self-employed professional, you need to prove your source of income and may need to submit documents like proof of business and Income Tax statement.

Low Rates of Interest 

PNB Housing loan against land property interest rates start from 10.15%, and the maximum interest rate is 10.65%. The effective interest rate depends on your credit score and monthly income. The higher your credit score is towards 900, the better interest rates you may expect from a PNB Housing loan against land property.

Doorstep Service Delivery 

PNB Housing offers doorstep service delivery for all its customers. Hence, you do not have to move an inch from the comfort of your home. All you need to do is visit the PNB Housing website, enter details like phone number and email ID, upload loan against property documents, and hit the apply button. Alternatively, you may call the customer care number and place a request. As soon as a loan officer gets assigned to you, the officer will call you and schedule an appointment according to your convenience.


Besides doorstep service delivery, low rates of interest, flexibility in end-use, and minimal requirement of documents, PNB Housing loan against land property also offer benefits like a high loan amount of up to 60%, low downpayment, quick loan processing, and a loan term of twenty years. If you need money quickly, PNB Housing loan against land property everything you need.

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