Do you intend to move into a new and bigger house but are unsure about using your savings to make that investment? Or does your house require an expensive renovation, and you don’t want to use a sizeable amount of your savings on the repair work?
No matter the reason, it’s not an exaggeration to say that funding is crucial to getting the work done using the best possible resources.
Solution? Get a PNB Housing Home Loan and finance your home purchase. You can use the loan amount to build a new house from scratch or renovate your existing house.
The home loan process at PNB Housing is guaranteed to be smooth, especially since you can apply online. To help you understand why opting for a PNB Housing home loan is a great idea, below are several benefits you enjoy from this loan.
Benefits of Availing of a PNB Home Loan
Loan Repayment Flexibility
When you get a home loan, you repay within the set time. PNB Housing’s home loans come with a flexible repayment period.
You can sign up for a loan and repay within 30 years.
You repay a small EMI monthly when you apply for a loan with maximum tenure. And since you pay small EMIs, you won’t experience financial pressure.
Friendly Interest Rates
Interest rates determine the cost of your loan. Every little percent you save on the borrowing cost can greatly impact your finances by the end of your loan repayment.
You can get a PNB Housing home loan at the most friendly rates, thus reducing borrowing costs.
A PNB home loan to buy or build your home earns you tax benefits. The law allows tax deductions on the interest and the principal amount you pay for your home loan.
However, your house construction should be complete to make tax deduction claims.
A Co-Applicant Is Allowed
You’re free to add a co-applicant to your PNB home loan application. If you co-borrow a loan, you get a bigger amount since a co-applicant pays EMIs. Chances of loan approval also increase when you add a co-applicant.
Ensure your co-applicant has a good credit score. The income of your co-applicant also matters a lot. A good income and credit score give your lender confidence that you will repay your loan without defaulting, which increases your eligibility.
You can include a parent or your spouse as co-loan applicants. Ensure your co-applicant is registered as a co-owner of the property to access tax benefits.
An Easy Method of Financing
Though you can save and build or buy a ready-to-move-in house, raising that amount might take a long time.
PNB Housing can help with the funding by financing up to 90% of the house value, depending on the loan amount, so you only need to arrange 10% of the funds.
Minimal Home Loan Processing Fee
A loan processing fee can increase the cost of your loan. You should check how much a lender charge before applying for a loan.
PNB Housing charges a minimal amount of up to 1% of your home loan amount as a processing fee.
Customer-Friendly Features During and After the Loan Process
PNB Housing offers customized programs to meet your specific needs. You can also have all doubts cleared one-on-one with the representative, thanks to the personalized doorstep services during the application process.
There is also an online customer portal on the website that makes it easily accessible for all and ensures a hassle-free loan experience.
Go through PNB Housing Finance reviews and apply for a home loan today to fulfill your dreams of living in a posh house!
To Wrap Up
Get a PNB housing loan to buy or build your dream home. The process of getting a PNB home loan is simple and faster. In addition, PNB housing loans come with longer repayment periods and affordable interest rates, making it one of the best financial institutions to avail of a loan from.
PNB Housing Finance reviews will help you in getting an idea of the service provided by PNB
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