PNB Housing’s Unnati home loan: A perfect tool for housing for all

As the effects of the global pandemic are tapering down, we are witnessing a steady uptick in the affordable housing segment seeding growth toward the rising demand for home ownership. In fact, many state governments have extended their support in terms of stamp duty reductions and housing finance companies are reaching out to potential customers, especially millennials, with easy and affordable home loans at attractive interest rates, friendly terms and conditions, and contactless service delivery.

For example, PNB Housing Finance is offering customer-friendly Unnati Home Loan of up to Rs. 35 lakh, or up to 90% of the property’s market value for salaried individuals and up to 80% of the property’s market value for self-employed individuals. The minimum home loan amount is as low as Rs. 8 lakhs for Tier-1 cities or Rs. 6 Lakhs for Tier-2 cities. Also, PNB Housing Finance provides such loans for a property of minimum size measuring 225 sq. ft. or 40 square yards in case of a construction loan within the city’s geographical limits.

This makes Unnati from PNBHFC a smart investment choice for young-entrepreneurs and aspirant salaried class of the millennial generation from mid-sized towns and cities of India who would like to invest in an asset class early on in their career life-span. Additionally, the extended 30-year repayment plan reduces the EMI burden on the borrowers.

PNB Housing Finance Managing Director and CEO Hardayal Prasad said, “We launched Unnati Home Loan as part of our constant effort to offer quick, affordable and customer-friendly financial solutions to those aspiring to buy their dream home and fulfil an important life goal. The loan is tailor-made for low and medium income groups, and will give a big push to the government’s broad vision of ‘Housing for All by 2022’. Unnati Home Loan will play a significant role in not only empowering individuals to own their homes but will also lift the socio-economic wellbeing of our Society.” 

Unnati Home Loan from PNBHFC comes along with competitive rates of interest for both salaried individuals, and self-employed with flexible repayment choices. PNB Housing has also collaborated with leading insurance companies to offer customers best-in-class options for insurance products and services right at their doorstep.

Spread over 65 cities with 94 branches, PNB Housing Finance has formed strategic alliances with multiple affordable housing builders across the country to assist in timely loan disbursals. As a step further, PNBHFC’s representatives hold awareness drives, run education-based campaigns and offer consultations on various loan products and its credit worthiness round the year. The underlying aim of these activities is to educate and help new home buyers realise their dream.

With a minimum contribution of as little as 10% of the total cost of a property (including stamp duty and registration charges in case of an outright purchase), buying a home has become lot easier and efficient than ever before. Unnati Home Loan brings with it a range of benefits such as quick and simple documentation, doorstep assistance to facilitate fast approvals and disbursals along with a scope for joint ownership. Simultaneously, an applicant for a home loan under Unnati is eligible for a subsidy under the Pradhan Mantri Awas Yojana (PMAY). With a pan-India presence, buying a home through PNB Housing Finance is both a smart decision and a dream come true.

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