When you transfer your home loan to PNB Housing Finance, you can benefit from competitive interest rates that depend on your credit score and employment category. The applicable PNB HFL balance transfer interest rate and other charges are as follows:
Disclaimer: The mentioned details are subject to change at the lender’s discretion.
PNB HFL home loan balance transfer comes with additional charges on HLBT services, including processing fees, prepayment charges, and rate conversion fees. Some of the applicable charges are below:
| Particulars | Charges |
|---|---|
| Cheque/eNACH Bounce Charges |
₹750 to ₹1,000 + GST |
| Overdue Charges |
Up to 24% p.a. on unpaid EMI for the delayed period |
| List of Documents Fee |
Up to ₹750 + GST |
| Loan Pre-closure Statement Charges |
₹750 + GST |
Disclaimer: The mentioned details are subject to change at the lender’s discretion.
Low Interest Rates
With a high credit score, you can benefit from low interest rates starting from just 8.50% p.a. The lender might evaluate your overall financial profile before offering the interest and loan amount.
Flexible Repayment Options
The repayment tenure is extremely flexible and ranges up to 30 years. This will give you an ample amount of time to plan your repayment strategy and follow to maintain a good repayment history.
Easy Transfer Process
Transfer your loan balance conveniently with basic documentation. By submitting proper documents, you can make the approval process much quicker.
No Hidden Charges
There are no hidden charges involved in the home loan balance transfer process. This helps you create your financial strategy accurately by covering all the financial ground.
Borrowers can benefit from low interest rates starting from just 8.50%. p.a. with this balance transfer facility.
Yes. You can enjoy extended tenures of up to 30 years with this balance transfer facility.
With PNB HFL’s balance transfer facility, you can get more than your remaining loan amount by taking a top-up loan. Getting the loan will be easy if you meet the eligibility criteria.
The process of home loan balance transfer to PNB HFL generally takes 4 to 10 business days. It can vary as per document verification and approval timelines.
A home loan balance transfer is beneficial when the new lender offers a much lower interest rate. This helps reduce EMIs and total interest. The expected savings need to exceed the costs associated with the transfer.
According to RBI guidelines, banks cannot impose a penalty on the transfer of a floating-rate home loan. In the case of fixed-rate loans, the current lender may charge a fee ranging from 1% to 3% of the remaining loan amount.
Following the procedure will have two options. You can either retain the existing insurance policy by updating the nominee or opt for a fresh policy if the new lender requires it.
When you apply for a home loan balance transfer, the lender assesses your repayment history, outstanding loan amount, and the current value of your property. If you meet the eligibility criteria and demonstrate sufficient repayment capacity, a top-up loan may be approved along with the transferred amount.
PNB HFL provides loans for the purchase or construction of commercial properties, including offices and shops. This allows borrowers to manage their finances even during the construction phase.
Women borrowers may be eligible for reduced interest rates. You should check the current eligibility criteria and applicable rates before applying, as preferential offers are designed to encourage and support homeownership among women.
Through this transfer facility, you can lower the payable amount of the loan. This reduction will help you to repay other dues and will improve your credit score.
Yes, the lender requires income proof to initiate the balance transfer facility to determine your repayment capability. Documents such as salary slips or Income Tax Returns (ITR) will help to assess your repayment capacity.
Yes, PNB HFL offers joint home loan balance transfers. Borrowers can shift their loans from other lenders and benefit from lower interest rates, flexible EMIs, and easy repayment options.
Yes, NRIs can apply for a home loan balance transfer with PNB HFL. They must work abroad, hold an Indian passport or be a Person of Indian Origin, and meet the lender’s home loan eligibility criteria.
Yes. The fee is typically a small percentage of the loan amount, not exceeding 1%, plus applicable taxes.