Mortgage of Property
For which activities loan can be raised under this scheme ?
Loans can be provided under this scheme to both individuals as well as business enterprises for the purpose of meeting business and personal needs. Personal needs would cover children`s higher education, travel, daughter`s marriage, medical emergencies, etc. Loans, however, are not available for speculative purpose.
Are loans available in rural/semi-urban areas ?
Loans are available anywhere in India from PNB branches.
What is the repayment schedule for this scheme ?
Loan together with interest is repayable in maximum 84 equal monthly installments.
What is the security to be provided for this loan ?
Loans can be provided under this scheme against non-encumbered residential house/flat or commercial or industrial property (in the shape of building/industrial shed) self occupied or vacant.
What is the rate of interest to be charged on loans under this scheme ?