You need money, and your savings will not suffice. Your extended family is of no help. And friends have suddenly become remote! What do you do? It’s a life and death situation. Taking a loan against property is an option. The problem is that there are many options when it comes to loans against property. Which one suits you best?
Go online and Compare
PNB housing loan against property comes with a comfortable repayment schedule. Want to know more about a loan? Going online will help. First and foremost, what’s the PNB interest rate? See if there are any attractive discounts. Then, compare the interest with that of other loans against property.
Get hold of an EMI Calculator
Of course, you are looking for a loan that suits each one of your specific needs. An EMI Calculator will help calculate a borrower’s capacity to repay the loan within the specified period. Does PNB housing loan against property come with no hidden costs; is it hassle-free?
What to Do in Procuring a Loan
Here’s what a potential borrower should do.
- Compare the different loans against property to select the one that suits his needs.
- Calculate the loan you are eligible for.
- Calculate EMI.
- Apply online.
- Use the bank’s customer service to the fullest.
Enlist customer service to help
Potential borrowers will be banking on friendly customer service. Nobody wants a grumpy introduction to the bank. Customer service may help the borrower by making a comparison for him of the various loans against property in the market. And how the PNB housing loan against property interest rate compares with the best of them.
Steps to secure a PNB loan Against Property
- Visit a PNB branch to apply or download an application form online.
- Complete the application form with the required personal details and required details for the loan.
- While doing so, keep in mind the best offers from other banks.
- Apply. Wait for a loan representative of the bank to call on you. This happens when the bank finds you are eligible for the bank’s loan against the property.
- The bank representative will drop in to check and verify that you indeed own the property against which you want the loan.
- After verification, the bank will issue a sanction letter.
- Next, the sanctioned amount for loan Against the property will be transferred to your bank account after submitting the original property documents.
PNB housing loans are against residential and commercial immovable property. The end use of the loan against property can be for business purposes or for overseas travel, for personal requirements, such as to pay for a child’s education or medical expenses. The only caveat is that the loan should be used for a legitimate purpose. Guaranteed EMI suited with your repayment capacity. Approvals and disbursement of the loan are hassle-free, and the customer service will never give an excuse to complain.
Leave a Reply