| Parameter | Details |
|---|---|
| Loan Type | Composite Home Loan |
| Purpose | Purchase of residential plot + construction of house |
| Eligible Borrowers | Individuals or group of individuals/co-borrowers |
| Income Requirement | Assured source of regular income |
| Eligible Categories | Salaried, professionals, self-employed, businessmen, farmers, etc. |
| Staff Members | Eligible under public scheme |
| Loan Amount | Need-based |
| Assessment | Project cost and repayment capacity |
| Maximum Plot Component | Plot purchase loan cannot exceed 60% of eligible loan amount |
| Minimum Construction Component | At least 40% of total eligible home loan amount |
| Margin up to ₹30 lakh | 20% / 15%* |
| Margin >₹30 lakh to ₹75 lakh | 20% |
| Margin >₹75 lakh | 25% |
| Land/Plot Margin | 25% |
| Special Composite Margin Rule | Margin to be ensured separately on plot purchase amount and construction cost |
| Security | Equitable/registered mortgage |
| Maximum Repayment | 30 years, including moratorium |
| Moratorium | 18 months from first disbursement for purchase of residential plot and construction of house |
| Interest Rate | As per applicable PNB rate |
| Processing Charges | As per applicable PNB charges |
| Documentation Charges | As per applicable PNB charges |
Most Important Point
If the eligible composite home loan is ₹50 lakh, the plot-purchase component cannot exceed ₹30 lakh (60%), while at least ₹20 lakh (40%) must be towards construction.
This 60:40 condition is one of the most important points to highlight in the third article