PNB MAX Saver Housing Finance Scheme for Public in Detail

Objective:
This home loan scheme’s objective is to attract home loan borrowers, particularly from the high-income group, who prefer to utilize their surplus funds in their loan account for interest savings. Borrowers which are falling under Commercial Real Estate (CRE) will not be eligible under this scheme.

Purpose:
Loans under this variant may be utilized for all purposes specified in the “PNB Home Loan Scheme,” except for the purchase of land or plots, which is not permitted under this scheme.

Eligibility:

  • Prospective Borrowers: As per the criteria outlined in our existing home loan scheme.
  • Existing Borrowers:
  • Must have received complete loan disbursement.
  • The home loan account must be regular, with no outstanding inspection issues.
  • Repayment should have already started.
  • All terms and conditions of this variant must be fulfilled.

Existing home loan borrowers interested in this option can avail of the benefits provided they meet the above criteria. Conversion to this facility will be permitted upon the borrower’s written request and payment of the required upfront fee and documentation charges.

  1. For customers who have paid Upfront Fees and Documentation Charges at the time of securing a Home Loan: A one-time fee of Rs 2,500 + GST applies.
  2. For customers who have not paid Upfront Fees and Documentation Charges when availing of a Home Loan (e.g., loans sanctioned under Bonanza Offers or when fees have been waived by authorized personnel): Charges will be as per the current guidelines applicable to “PNB Home Loan.”

Loan Amount Limits

  • Minimum Loan Amount: Rs. 10.00 lakh
  • Maximum Loan Amount: Based on needs as per the “Home Finance Scheme for Public”

For existing housing loan borrowers, the current outstanding loan amount will be considered for conversion to this variant.

Nature of Facility

An overdraft facility based on a monthly reducing Drawing Power (DP) basis.

Repayment

As per the existing housing finance scheme for the public.

Scheme Code

  • Scheme Code for Term Loan : TLMAX
  • Scheme Code for Overdraft : ODMAX