Buying a dream home isn’t something you do every day. The same goes for your home loan. It’s a big financial decision, and will affect your wallet for a long time after the purchase is over. Which brings us to the matter of choosing the lending institution. How do you go about it?
It is important to give it careful consideration. After all, there’s much more to a home loan than the rate of interest. Let’s check out the features and factors to keep in mind when picking a home loan institution.
Choose a Lender Who Has Reputation and Experience
Choose an institution with a good brand and vintage which enjoys consumer trust and confidence, and has the experience to offer a tailored solution. PNB Housing is in the business of housing finance for more than 25 years.
We are promoted by Punjab National Bank, the second largest public sector bank in the country. We work on the dual concept of providing trust levels of a PSU wrapped up in service standards of an MNC. It helps being an expert in home finance to better understand customer requirements and to provide customized solutions according to their needs.
Choose the Lender Who is Economical in the Long Run
Home Loan being a long term relationship, one should not make decision just by looking at initial offerings. Floating rates are anyway prone to change many times during the loan tenure therefore it may hold true that institutions offering low rates initially would not be economical in the long run. One should look at the overall rate movement scenario in last few years to decide upon the lender.
We at PNB Housing, ensure that we pass on minimum rate hikes to our existing customers and thus turn out to be more economical.
Choose the Lender Who has Pan India Branch Network
You could be in Delhi today, but in Chennai tomorrow. Your lending institution should have a pan-India network to deliver the same levels of service, wherever you are.
PNB Housing finance has nationwide presence across all major locations. In case customers shifts to other location during loan tenure, he/she won’t face any issues with respect to post disbursement services.
Must Read: What is Down Payment for a Home Loan?
Choose the Lender Who Gives you Access to Customer Friendly Features
Make sure your lending institution has features and conveniences like instant online loan approvals, doorstep service, dedicated relationship managers and robust after sales service to help you just sail through.
PNB Housing not only specializes in providing all the above services but also offers value additions like optional insurance facility to protect its customers in case of any unfortunate mis-happening.
Choose the Lender Who Provide you Flexibility and Versatility
You have every right to demand high levels of flexibility and versatility from your lending institution – be it working out the maximum home loan eligibility, providing customized EMI Options, the choice to switch over from Fixed Rate to Floating Rate and vice-versa, and more.
Our endeavour is to work out maximum loan eligibility for our customers, we have devised various surrogate programs to work out higher loan eligibility than otherwise possible.
Choose the Lender Who Gives you Higher loan tenure
Go for an institution willing to give you a relatively higher Loan Tenure –– which not only makes you eligible for a higher loan amount, but also reduces the EMI burden. So that you can fulfil all your dreams.
Must Read: What is the Repayment Tenure for Home Loan?
With PNB Housing home loan, you have the option to choose up to 30 years tenure for your home loan. Longer tenure options help reduce the EMI burden and also makes you eligible for higher loan amount
Choose the Lender Who provide you Home loan Prepayment options
A home loan is about freedom, not limits. You deserve a repayment clause that lets you repay as many times as you want.
At PNB Housing Customers are free to repay their loan any time without any prepayment penalty*
Always Choose a Reliable Lender
Last but not the least, this being a long term relationship, it is important that customer documents are in safe custody and the lending institution provide access to all information in a transparent manner.
PNB Housing is known for its fair dealing, and ethical conduct, easy access to loan account information or any kind of post disbursement service requirement, customers can easily rely upon.
*conditions apply
