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Punjab National Bank Home Loan Review

Company Profile

PNB is the second largest government-owned commercial bank in India. The bank s assets for financial year 2007 were about US$ 60 billion. PNB Housing Finance Ltd. is a subsidiary Company of Punjab National Bank which has been registered under Companies Act, 1956. It has 30 branches all over the country. Its function is to carry on the business of providing long term finance for construction/purchase/repairs/renovation etc. of any house/flat/commercial properties /loans against properties apart from providing project financing.

Prepayment Charges On prepayment of the loan, in part or full, a loan seeker is charged an early redemption charge of 2% of the amount being prepaid. This feature is very much comparable to IDBI and HDFC Bank s offering.

Also a commitment charge of 1% per annum on the undrawn amount of the Line of Credit facility sanctioned is payable commencing six months from the date of acceptance of offer.

Published on August 6, 2010 Filed under: PUNJAB NATIONAL BANK HOME LOAN ;

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