| Loan Name | PNB Loan Against Mortgage |
| Purpose | For all personal purposes, except speculative purposes |
| Not Allowed For | Investment in real estate business, speculation in stocks, shares, securities, commodities, bullion, etc., and other purposes prohibited by law |
| Eligible Borrowers | Individual borrowers and joint owners |
| Property Requirement | Borrower should have an immovable property to be mortgaged and sufficient income to repay the loan |
| Minimum Net Monthly Salary – Salaried | ₹25,000 |
| Minimum Net Annual Income – Non-Salaried | ₹3 lakh |
| Minimum Loan Amount | ₹2 lakh |
| Maximum Loan Amount | ₹5 crore |
| Nature of Facility | Term Loan or Overdraft |
| Loan Assessment – Property Value | Up to 65% of the realizable value of the property |
| Loan Assessment – Salaried | 36 times gross monthly salary, based on the latest salary certificate |
| Loan Assessment – Non-Salaried | 36 times average gross monthly income of the last 3 years, based on the last 3 ITRs |
| Maximum Loan | The applicable loan amount will be the lower of the property-value-based limit and income-based limit |
| Repayment Capacity – Income up to ₹1 lakh/month | Total deductions should not exceed 60% of gross monthly salary/income |
| Repayment Capacity – Income above ₹1 lakh/month | Total deductions should not exceed 70% of gross monthly salary/income |
| Deductions Considered | Proposed mortgage-loan instalment, existing deductions except statutory deductions, existing loan instalments, actual interest on term loans and notional interest on full sanctioned limits of CC/OD, etc. |
| Income Assessment – Salaried | Based on latest salary slips; regularity of salary/income is also considered |
| Income Assessment – Non-Salaried | Based on average income of the last 3 years as per ITRs |
| Security | Equitable or Registered Mortgage of the property |
| Property Type | Non-encumbered, built-up and self-occupied residential house/flat, commercial or industrial property |
| Property Residual Life | Minimum 25 years |
| Repayment – Overdraft | On reducing DP basis, to be liquidated within 15 years or up to age 70, whichever is earlier |
| Repayment – Term Loan | Maximum 180 months (15 years) or up to age 70, whichever is earlier |
| Prepayment Charges | Nil |
| Rate of Interest | As per PNB’s prevailing rate applicable to Loan Against Mortgage; PNB’s scheme page directs borrowers to its current interest-rate table |
| Upfront Fee | As per PNB’s prevailing applicable charges |
| Documentation Charges | As per PNB’s prevailing applicable charges |
| Key Feature | Borrowers can raise funds against an eligible immovable property while choosing either a Term Loan or Overdraft facility |
| Important Note | These are the salient features published by PNB. Final eligibility, loan amount, rate and charges are subject to PNB’s applicable rules and assessment. |
| Page Last Updated | 07 February 2025 |
