PNB Housing Finance Limited

NSE:

BSE:

Last update:

Frequently Asked Questions

Home Loans Asset

What is the process of applying for a Home Loan?

Step 1:Submit your loan application along with required set of documents.

Step 2: Your application would be assessed on the basis of various eligibility and funding norms.

Step 3: A property valuation and title check may be carried out by the company representative to determine the property value and legal clearance of the property to arrive at the loan amount.

Step 4: Based on the internal and regulatory guidelines, PNB Housing may approve or reject the loan application.

Step 5: Submission of the original property documents are required along with signing of agreements, handing over of registered property papers and submission of post-dated cheques/ECS.

Step 6: Upon finding all the documents in order, PNB Housing will disburse the loan amount to the developer/contractor based on the progress of construction. The EMI/Pre-EMI will commence after the disbursement.

Am I eligible for a Home Loan?

You are eligible for a loan if you are an Indian citizen or a person of Indian Origin and are a salaried/ self- employed professional/ a businessman. Your loan eligibility will be determined by PNB HFL on the basis of professional income, age, qualifications, number of dependents, co-applicant’s income, assets, liabilities, stability and continuity of occupation, savings and prior credit history. Further, the loan eligibility will also be dependent on the value of property selected by you.

What percentage of property value can be funded?

We can fund up to 90% of the property value in case of Home Loan and up to 60% in case of Loan Against Property. However, PNB HFL funding norms may change from time to time and from property to property or based on the loan amount.

I purchased a property 3 months back; can i get a Home Loan?

Yes, you can avail re-finance at applicable Home Loan rate within 6 months from the date of property purchase.

What is EMI and Pre-EMI?

Your loan is repaid through Equated Monthly Instalments (EMI), which includes principal and interest component. EMI repayment starts from the month subsequent to the month of final disbursement. Pre-EMI Interest is the simple interest, payable every month till the time loan amount is not fully disbursed.

In case of change of floating rate of interest, will my EMI change or tenure?

Keeping the borrower’s convenience in consideration, EMI is kept constant and residual loan tenure is adjusted. Under exceptional situations, the EMI is changed to support the principal repayment, within a time frame.

What security do I need to provide?

The prime security for the loan is by way of deposit of title deeds and/or such other collateral security as may be decided by PNB HFL. The title of the property should be clear, marketable and free from any encumbrances.

Can I prepay my Home Loan? Are there any charges applicable?

Yes, home loan can be prepaid. Part payment is to be made vide a cheque at any of your nearest PNB Housing branches. The cheque should be in favour of “PNB Housing Finance Limited ”, from any of the loan applicants bank account only. Part prepayments are to be made between Monday to Friday, from 2nd  till 20th of the month. For applicable loan pre-payment fee, kindly refer to the Schedule of Charges under “ Fair Practice Code” section on our website www.pnbhousing.com

What does fixed rate of interest mean?

PNB Housing offers a pure fixed rate of interest from the day of first disbursement for a specified period as per the extant loan scheme, prevailing at the time of availing the loan. Thereafter, for the residual loan tenure, the outstanding principal loan amount automatically moves to a floating rate of interest at the then prevailing rates of interest.

When can the customer avail of the disbursement of his home loan?

Customer’s loan will be disbursed after he has selected the property, applied for his Home Loan, submitted the requisite income and property documents, the property is technically and legally sound and customer has paid his own Contribution towards the purchase of the property. The disbursement would be in Indian Rupees and made at the PNB Housing branch in India, as specified by him.

The cheque for the loan amount is drawn in favour of the Developer or the Seller (in case of a resale property) as the case may be. In case of an under-construction project, PNB Housing disburses the loan amounts proportionate to the stage of construction.

Customer’s loan will be disbursed after he has selected the property, applied for his Home Loan, submitted the requisite income and property documents, the property is technically and legally sound and customer has paid his own Contribution towards the purchase of the property. The disbursement would be in Indian Rupees and made at the PNB Housing branch in India, as specified by him.

The cheque for the loan amount is drawn in favour of the Developer or the Seller (in case of a resale property) as the case may be. In case of an under-construction project, PNB Housing disburses the loan amounts proportionate to the stage of construction.

How do I get my Income Tax certificate?

Income Tax certificates can be availed from:

1. Our IVR Services by calling at 1800 120 8800
2. Our Mobile Application
3. Our website https://customerservice.pnbhousing.com/myportal/pnbhfllogin

How do I replenish exhausted PDCs?

1. Kindly submit the Post Dated Cheques to your nearest PNB HFL branch before the EMI due date to avoid any late payment charges.
2. Repayment of loan is preferred through ECS.

What is the meaning of NPA?

As per the regulatory guidelines, a loan account is classified as Non Performing Asset if the interest/EMI due to be repaid is not paid for 90 days.

What is the implication of the loan account being classified as NPA?

Recovery proceedings under SARFAESI Act 2002 will/can get initiated by PNBHFL for NPA accounts. Proceedings include taking possession of the underlying collateral/security ,for disposal to recover dues.

How can a NPA account be regularised?

As per the RBI circular RBI/2021-2022/125 DOR.STR.REC.68/21.04.048/2021-22 of 12th November 2021, customer will need to pay the complete/entire overdue amount (all unpaid EMI+ interest) for the account to be reclassified as ‘standard’. Partial payment will not regularise the account.

Home Loan Asset – NRI

What is the definition of a NRI?

NRI definitions under FEMA:

The most relevant definition concerning an NRIs various bank accounts and investments in movable and immovable properties in India is the one provided under FEMA, which has replaced the Foreign Exchange Regulation Act , 1973-(FERA) with effect from 1st June,2000. Person Residing outside India is the term used for an NRI, being a person who has gone out of India or who stays outside India for the purpose of employment or carrying on business or vocation outside India or any other circumstances which indicate his intention to stay outside India for an uncertain period.

How can customer repay the loan?

PNB Housing offers various modes for repayment of the loan. Customer may either issue post-dated cheques or standing instructions to his banker to pay the instalments through ECS (Electronic Clearing System) from your Non-Resident (External) Account / Non-Resident (Ordinary) Account in India. Cash payments will not be accepted.

How is my loan reassessed if there is a change in status from Non-Resident Indian to Resident Indian?

In the event of customer getting re-located back to India, PNB Housing reassesses the repayment capacity of the applicant(s) based on Resident status and a revised repayment schedule is worked out. The new rate of interest will be as per the prevailing applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. A letter is given to the customer confirming the change of status.

Is the Customer required to be physically present in India at the time of availing loan?

Customer need not be present in India to avail of your Home Loan. In case customer is posted abroad at the time of submission of the loan application and disbursement of the loan, he/she can avail the loan by appointing a Power of Attorney as per PNB Housing’s format. The Power of Attorney holder can apply and carry out the formalities on his behalf.

What is a Power of Attorney?

A power of attorney is a resident Indian appointed to act on behalf of all the applicants through an execution of the Specific Power of Attorney (SPOA) deed. It is mandatory for both the applicant and co-applicant execute the SPOA in favour of the person concerned. If the co-applicant is a resident Indian, he / she can also be the SPOA through the execution of the SPOA by the applicant.

Fixed Deposits

Who can open a FD account with PNB Housing?

Fixed Deposit will be accepted from Resident Individual/ HUFs /Public/Private companies /Non-Resident Indians/ Co-operative Societies / Co-operative Banks/ Trust / Association of person, PF Trust etc.

How is a deposit made?

A prospective depositor has to fill prescribed “Deposit Application Form” along with all KYC documents and an accounts payee cheque/ Demand Draft/ NEFT/ RTGS in favour of PNB Housing Finance Limited. Deposit applications are available at all PNB Housing branches and with its authorized brokers. Deposit forms could be downloaded from company’s website – www.pnbhousing.com.

Does the property need to be insured?

Property insurance is mandatory in order to protect your property against uncertainties like earthquake, fire or any damage and destruction due to natural and man-made calamities, during the tenure of the loan.

What is the minimum amount to place a FD with PNB Housing?

Cumulative Deposit – INR 10000
Non-Cumulative Deposit –
Monthly Income Plan – INR 100000
Quarterly Income Plan – INR 50000
Half yearly Income Plan– INR 20000
Annual Income Plan – INR 20000

What is the range of tenure for which a customer can have a FD account?

If a customer is a resident Indian individual/entity/trust the minimum tenure is 1 year and maximum tenure is 10 years.

Will a customer get any receipt of deposit with PNB Housing?

Yes, PNB Housing will issue FD receipt of the money deposited by a customer with us.

Are Know Your Customer (KYC) documents required for all depositors?

Yes.

Checklist of Know your Customer (KYC) Compliance?

In terms of the Prevention of Money Laundering Act, 2002, the rules notified there under and KYC guidelines issued by the Reserve Bank of India (RBI), every depositor is required to comply with the KYC requirements by submitting the following document:

  • Latest photograph.
  • Certified copy of proof of identity such as Pancard, Aadhar Card, Passport etc.
  • Certified copy of proof of address, for Corporate it is certificate of incorporation, Pancard Registration no. / trust deed.
Can a loan be obtained from PNB HFL against the security of a PNB HFL Fixed Deposit?

Yes, loan facility is available at the discretion of PNB Housing, which can be availed only after three months from the date of deposits and up to 75% of the deposit amount subject to certain terms and conditions. Interest rate on such loans will be 2% higher than the rate of interest on the deposit being paid to depositor.

Can a deposit customer redeem his FD amount before the contracted term? If so, are there any conditions applicable to the same?

Yes, FD amount can be withdrawn before the original term (pre-mature withdrawal) of the FD. In accordance with the provisions of the Housing Finance Companies (NHB) Directions 2010, and on request being made by a depositor, premature withdrawal of the deposit may be allowed subject to the following conditions:

Period completed from date of deposit Individuals Non – Individuals
(a) Minimum lock in period 3 Months 3 Months
(b) After three months but before six months 4% p.a. No Interest
(c) After six months but before the date of Maturity For Individuals and Non – Individuals the interest payable shall be 1% percent lower than the interest rate applicable to a public deposit for the period for which the deposit has run.

In case a deposit is made through an authorized deposit broker – the excess brokerage paid will be recovered from the deposit amount. Excess brokerage is the difference between brokerage for original contract period minus brokerage for the period for which deposit has run.

When does a customer become liable for TDS?

If the aggregate interest income a customer is likely to earn for all deposits is greater than Rs.5,000/- in a financial year, depositor becomes liable for TDS. A customer can submit Form 15G (For Individuals and HUF) /15H (For Senior Citizen who is of the age of 60 years or more) or a certificate for lower/nil deduction of TDS issued by Income Tax Authorities u/s 197 of the Income Tax Act, 1961.

In case of NRIs, any amount of interest paid/credited during the financial year shall attract TDS.

Can Non Resident Individuals open Fixed Deposit A/C?

Yes, Non Resident Individuals can open a fixed deposit with PNB Housing and provide funds from their NRO accounts only. Minimum tenure is 1 year and maximum tenure is 3 years.

Can a depositor open multiple accounts?

Yes, but for the purpose of computation of tax liability all the accounts will be clubbed.

Can a Trust deposit money with PNB Housing?

Yes, Deposit with PNB HFL are eligible investments under Sec 11(5) (vii) and 11 (5) (ix) of the Income Tax Act, 1961.

Is a Trust liable for TDS on interest earned?

Yes, unless a trust produces a certificate of exemption issued by a competent authority.

Is nomination facility available?

Yes, nomination facility is available with PNB Housing FD.

Can a deposit be accepted from minor?Can a deposit be accepted from minor?

Yes, a minor can apply under a guardian.

Is it mandatory to give fresh application form on renewal?

Yes, as per the directions of National Housing Bank, depositor has to provide a duly discharged deposit receipt along with an application form at the time of renewal.

How can change in demographic details of an individual be informed?

Change in demographic details can be informed to PNB Housing branch office through an e-mail from the registered e-mail id or placing a request on the Company’s website, under Customer Care> Write to Us section.

What is the procedure for re issue of lost/mutilated deposit receipt?

In case a deposit receipt is lost/ mutilated a depositor has to give an application and an indemnity form for issue of duplicate deposit receipt.

What is the procedure for payment of deposit proceeds in case of death of a depositor?
  • In case of death of depositor, the proceeds will be paid to nominee or joint holder, if the repayment option is either or survivor.
  • In other cases, the legal heir(s) have to produce either a succession certificate/ probate of a will and an indemnity bond (in a prescribed format). Claim will be settled by PNB Housing, if the Company is otherwise satisfied.
Are Company’s deposit rated?

Yes, Company’s deposit programme has been rated by CRISIL. The rating is FAA+/Negative.

At what frequency will a deposit customer receive interest on PNB HFL FD?

Interest will be payable on the fixed deposit from the date of realization of cheque or fund transfer to PNB HFL’s bank account. Interest on deposit is paid as per the FD plan selected by a customer.
Non-Cumulative Deposit:

Scheme Interest Payment Date

Monthly Income Plan

Last day of each month

Quarterly Income Plan

June 30, September 30, December 31st and March 31st

Half Yearly Plan

September 30th and March 31st

Annual

March 31st

Cumulative Deposit: Interest will be compounded annually on 31st March of every year after deducting the tax, wherever applicable. The principal along with interest will be paid on maturity once the discharged deposit receipt is received by us.

Loan Against Deposits

What is Loan against Fixed Deposit?

Loan against Fixed Deposit is a loan, wherein you can pledge your FD as a collateral, in return for
the loan amount. PNB Housing offers easy Loan against Fixed Deposits at fixed interest rates, with quick
processing, flexible repayment options and minimal documentation.

Loans may be granted against public deposits upto 75% of the principal deposit amount carrying @2% per
annum above the deposit interest rate and other additional charges applicable on such deposit, provided
the deposit has run for a minimum period of 3 months.

On maturity, the outstanding loan together with interest shall be settled in one lump sum by the depositor
or shall be adjusted on maturity of the deposit.

What is the rate of interest on Loan against Fixed Deposit?

The rate of interest applicable on Loan against Fixed Deposit is 2% more than the effective FD rate
of interest.

What all documents are required if I have to apply for Loan against Fixed Deposit?

You require to submit the following set of documents at your base branch:
a. Application form
b. Original signed and revenue stamped FDR.

Is my CIBIL score checked as a part of processing of loan?

No, the CIBIL score is not checked the loan is given on the basis of existing Fixed Deposit

Is there any processing fee applicable for Loan against Fixed Deposit?

There is no processing fee applicable for a case of Loan against FD.

Are there any foreclosure or pre-payment charges?

No, there are no foreclosure or pre-payment charges applicable on your Loan against Fixed
Deposit.

What is the maximum loan amount that can be availed?

You can avail loan amount up to 75% of the fixed deposit amount.

Who all are eligible to avail Loan against FD?

Below mentioned are eligible to avail loan against Fixed Deposit :

  • Resident citizens of India
  • Hindu Undivided Family (HUF)
  • Sole Proprietorships, Partnership Firms,
  • Associations
  • Trusts
What is the eligibility for applying Loan against FD request?

You can take Loan against FD after completion of 90 days from the effective date of deposit.

When can I repay the Loan against FD?

The loan amount can be re-paid either in part or in full at any time before the date of maturity of
deposit.

What is the processing time for a loan against FD request?

It takes T + 1 working day to process, the loan after the application and FDR is submitted / e
mailed.

In case I have made a part payment for loan and some part of the loan is still unpaid, then how the closure of loan process be done at the time of maturity of deposit?

In such a scenario, the entire due loan amount will be recovered either by the way of interest or
principal or TDS will be recovered from the deposit amount payable at maturity.

Will pre-mature of deposit be allowed, if I have taken loan against deposit?

Yes, It can be pre-closed.

FAQs on Refund of Interest on Interest – V1.0.0

What is the “Interest on Interest Refund” guideline as released by IBA & RBI?

Supreme Court has pronounced a judgement in March 2021 wherein it has directed that compound / penal interest charged on loans during the moratorium period be refunded. Accordingly RBI directed financial institutions to refund difference between compound and simple interest charged on loan accounts which availed moratorium period of March 2020 to August 2020. Indian Banks Association (IBA) laid down the detailed guidelines in April 21 which are to be followed by institutions.

As part of the COVID-19 package announced by RBI in March 2020 (and extended in May
2020), customers who had a loan outstanding as on 29th February 2020 which was less than 90 DPD as on 29th February 2020 were given a relief of one time moratorium of repayment for a cumulative period of6 months i.e. from March 2020 to August 2020. During the moratorium period, the customers were exempt from making any payment to the lender. During moratorium, the lenders compounded the interest due on a monthly basis. Thus, the loan outstanding at the end of moratorium period included the outstanding principal at the beginning of the moratorium and the compound interest thereon for the months for which moratorium was availed, termed as “Interest on Interest”- difference between the simple interest and the compound interest charged during moratorium period.

PNBHFL had also compounded the interest for the moratorium period for the customers who availed the moratorium. Accordingly the Interest on interest will be refunded.

Which all loans/facilities are eligible for refund under the RBI Circular?

All “standard accounts” have to be given the benefit of relief. The determination date for this purpose is 29th Feb., 2020. That is, the days past due (DPD) status should be less than 90 DPD as on 29.02.2020 (“Eligible Accounts”).
Accounts not eligible for Relief under RBI Circular:

  • Accounts classified as NPA as on 29 February 2020 ;
  • Loan facilities which were charged with simple interest ;
  • Accounts already refunded interest on interest under ex-gratia scheme of Nov’20* ;

Thus,

  • Refund will now be given in those loan accounts (standard as on 29.02.2020) which were left out in the Ex-Gratia 1 scheme of Oct-Nov 2020. This will include ;
    • All Loans* (standard as on 29.02.2020) where the exposure (disbursement) was > INR 2 crore.
    • All Loans* (standard as on 29.02.2020) where the exposure (disbursement) was<= INR 2 crore but the market exposure (basis CIBIL) was > INR 2crores.

    * Both retail and corporate finance loans will be eligible

  • Loans irrespective of whether they availed the moratorium or not will be eligible. However, interest on interest is to be refunded only if it was charged. Not applicable on PNBHFL since no interest on interest was charged in such cases.
If an exposure was standard on 29 Feb 2020 but became NPA in the next few months, will we process refund?

Yes, As loan was standard (not a NPA) on 29/02/2020 and had availed the moratorium, it will be eligible for refund of interest on interest irrespective of the fact that it became a NPA later on.

In case a Customer did not avail the moratorium in respect to the loan facility and defaulted on its EMI during the moratorium period, will he/she be covered under the RBI Circular?

The refund of interest on interest is available to the Borrower under RBI Circular, irrespective whether the moratorium has been availed or not by such Customer. However, as per the detailed guidelines of IBA, the interest on interest is to be refunded only if it has been charged.

PNBHFL does not charge compound interest on normal loans. Thus, no interest on interest was charged on loans which did not avail the moratorium. Hence, no refund is due on such accounts.

Will penal interest charge during this period will be refunded?

During moratorium period, charging of penal interest was suspended in all PNBHFL loan accounts for the moratorium period. Accordingly, no refund /waiver will be processed.

What calculation methodology has been used for arriving at the Interest on Interest amount?
  • The calculation of interest on interest has been done on daily balance. Any subsequent disbursement/ prepayment made during the moratorium period has been considered for calculation.
  • Actual interest rate prevailing as on a specific date has been considered for calculating interest on interest. Any change of rate taken place during moratorium period has been considered.
  • The interest on interest will be refunded only to the extent that it has been charged. For partial moratorium cases (customers who took moratorium for less than 6 months) and for the foreclosed cases (paid off during moratorium period), the interest on interest will be refunded only for the period of moratorium when the compound interest was charged and the loan was live.
What is the exact manner of passing on the benefit to the Borrower? Is it merely a credit to the account of the borrower, or does it lead to any cash benefit being transferred to the borrower?

In case of Live loan account, the benefit amount will be given in the form of pre-payment by adjusting the differential amount with the future payables by the borrower.

In case of Closed loan account, the benefit amount shall be refunded in the form of remittance to the borrower’s repayment account as updated in our records.

Part A. Resolution framework for Individual and Small Businesses

Who is eligible for restructuring under this scheme?

a) Individuals who have availed of personal loans, and which include loans given for creation/enhancement of immovable assets (e.g., housing, etc.).

b) Individuals who have availed of loans and advances for business purposes and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

c) Small businesses, including those engaged in retail and wholesale trade, other than those classified as micro, small and medium enterprises as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

Provided further that the credit facilities / investment exposure to the borrower was classified as standard as on March 31, 2021.

Whether borrowers covered under resolution framework 1.0 will be eligible for further restructuring under this scheme?

No, the borrower accounts which were restructured earlier will not be covered under the resolution 2.0. However, if the restructuring plan implemented under resolution 1.0 for personal loans, permitted no moratorium/moratorium of less than 2 years, the said account can be restructured under this scheme provided the overall moratorium allowed/tenor extended shall not be more than 2 years.

The overall caps on moratorium and / or extension of residual tenor granted under Resolution Framework – 1.0 and this framework combined, shall be two years.

What are the restructuring options that are available to me?

The resolution plans may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium, based on an assessment of income streams of the borrower, subject to a maximum of two year term.

FAQ’s on Resolution Framework 2.0

What is the purpose of Resolution Framework 2.0 announced by RBI?

The purpose of this framework announced on May 5, 2021 vide respective RBI circulars, is to provide relief to individuals, small businesses and entities registered as MSME whose operations have been adversely affected by the second wave of Covid-19 pandemic followed by lockdown in most of the states.

Part A. Resolution framework for Individual and Small Businesses

Who is eligible for restructuring under this scheme?

a) Individuals who have availed of personal loans, and which include loans given for creation/enhancement of immovable assets (e.g., housing, etc.).

b) Individuals who have availed of loans and advances for business purposes and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

c) Small businesses, including those engaged in retail and wholesale trade, other than those classified as micro, small and medium enterprises as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

Provided further that the credit facilities / investment exposure to the borrower was classified as standard as on March 31, 2021.

Whether borrowers covered under resolution framework 1.0 will be eligible for further restructuring under this scheme?

No, the borrower accounts which were restructured earlier will not be covered under the resolution 2.0. However, if the restructuring plan implemented under resolution 1.0 for personal loans, permitted no moratorium/moratorium of less than 2 years, the said account can be restructured under this scheme provided the overall moratorium allowed/tenor extended shall not be more than 2 years.

The overall caps on moratorium and / or extension of residual tenor granted under Resolution Framework – 1.0 and this framework combined, shall be two years.

What are the restructuring options that are available to me?

The resolution plans may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium, based on an assessment of income streams of the borrower, subject to a maximum of two year term.

Part B. Resolution framework for Micro, Small and Medium Enterprises (MSME)

Who is eligible for restructuring under this scheme?

a. Micro, Small or Medium Enterprise as on March 31, 2021 in terms of the Gazette Notification S.O. 2119 (E) dated June 26, 2020.

b. The borrowing entity is GST-registered on the date of implementation of the restructuring. However, this condition will not apply to MSMEs that are exempt from GST-registration to be determined on the basis of exemption limit obtaining as on March 31, 2021.

c. The aggregate exposure, including non-fund based facilities, of all lending institutions such borrowers does not exceed INR 50 crore as on March 31, 2021.

d. The borrower’s account was a ‘standard asset’ as on March 31, 2021. The borrower’s account was not restructured in terms of the circulars DOR.No.BP.BC/4/21.04.048/2020-21 dated August 6, 2020; DOR.No.BP.BC.34/21. 04.048/2019-20 dated February 11, 2020; or DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019 (collectively referred to as MSME restructuring circulars) or the circular DOR.No.BP.BC/3/21.04.048/2020-21 dated August 6, 2020 on “Resolution Framework for COVID-19-related Stress.”

What are the restructuring options that are available to me?

The resolution plans may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium, based on an assessment of income streams of the borrower via ITRs, GST returns bank statements and any other document submitted by the customer.

Part C. Common Points applicable on both the frameworks (A & B)

What are the timelines allowed under this scheme?

The request under this scheme shall be invoked by 30th September, 2021 and the same should implemented within 90 days of invocation.

What is the criteria for restructuring and do I need to submit any documents to avail of the restructuring benefit?
What is the criteria for restructuring and do I need to submit any documents to avail of the restructuring benefit?
Will opting for the restructuring package have an impact on my credit bureau report?

As per regulatory guidelines, loan/credit facility will be reported to the credit bureau as “Restructured due to COVID-19”.

Please note that as per regulatory guidelines, restructuring has to be reported at a Borrower level to the credit bureaus and hence all the facilities / loans of the borrower with the bank will be classified and reported as “Restructured” even if the borrower has taken restructuring for only one loan.

Will there be any additional cost of availing loan restructuring?

As clarified in Question #6 above restructuring may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium each of which has additional cost implication.

I hold multiple loans/credit facilities with PNBHFL. Do I have to apply separately for each of these loans?

No, A single application form will suffice the restructuring request depending upon single / all linked loan accounts selected by the Customer. The assessment of the application will be done basis the regulatory guidelines on the COVID-19 impact and the viability of the repayment plan before arriving at any decision.

I have applied for restructuring, how will I come to know the status of my application?

The decision taken by the Company shall be communicated to the customer within 30 days of receipt of application.

Are all the Co-Borrower/s of the original Loan agreement required to sign the revised restructuring agreement?

As per regulatory and legal requirements, all Borrowers/Co-borrowers of the original loan need to agree and sign on any changes in the loan structure including the restructuring agreement.

FAQs on Refund of Interest on Interest – V1.0.0

What is the “Interest on Interest Refund” guideline as released by IBA & RBI?

Supreme Court has pronounced a judgement in March 2021 wherein it has directed that compound / penal interest charged on loans during the moratorium period be refunded. Accordingly RBI directed financial institutions to refund difference between compound and simple interest charged on loan accounts which availed moratorium period of March 2020 to August 2020. Indian Banks Association (IBA) laid down the detailed guidelines in April 21 which are to be followed by institutions.

As part of the COVID-19 package announced by RBI in March 2020 (and extended in May
2020), customers who had a loan outstanding as on 29th February 2020 which was less than 90 DPD as on 29th February 2020 were given a relief of one time moratorium of repayment for a cumulative period of6 months i.e. from March 2020 to August 2020. During the moratorium period, the customers were exempt from making any payment to the lender. During moratorium, the lenders compounded the interest due on a monthly basis. Thus, the loan outstanding at the end of moratorium period included the outstanding principal at the beginning of the moratorium and the compound interest thereon for the months for which moratorium was availed, termed as “Interest on Interest”- difference between the simple interest and the compound interest charged during moratorium period.

PNBHFL had also compounded the interest for the moratorium period for the customers who availed the moratorium. Accordingly the Interest on interest will be refunded.

Which all loans/facilities are eligible for refund under the RBI Circular?

All “standard accounts” have to be given the benefit of relief. The determination date for this purpose is 29th Feb., 2020. That is, the days past due (DPD) status should be less than 90 DPD as on 29.02.2020 (“Eligible Accounts”).
Accounts not eligible for Relief under RBI Circular:

  • Accounts classified as NPA as on 29 February 2020 ;
  • Loan facilities which were charged with simple interest ;
  • Accounts already refunded interest on interest under ex-gratia scheme of Nov’20* ;

Thus,

  • Refund will now be given in those loan accounts (standard as on 29.02.2020) which were left out in the Ex-Gratia 1 scheme of Oct-Nov 2020. This will include ;
    • All Loans* (standard as on 29.02.2020) where the exposure (disbursement) was > INR 2 crore.
    • All Loans* (standard as on 29.02.2020) where the exposure (disbursement) was<= INR 2 crore but the market exposure (basis CIBIL) was > INR 2crores.

    * Both retail and corporate finance loans will be eligible

  • Loans irrespective of whether they availed the moratorium or not will be eligible. However, interest on interest is to be refunded only if it was charged. Not applicable on PNBHFL since no interest on interest was charged in such cases.
If an exposure was standard on 29 Feb 2020 but became NPA in the next few months, will we process refund?

Yes, As loan was standard (not a NPA) on 29/02/2020 and had availed the moratorium, it will be eligible for refund of interest on interest irrespective of the fact that it became a NPA later on.

In case a Customer did not avail the moratorium in respect to the loan facility and defaulted on its EMI during the moratorium period, will he/she be covered under the RBI Circular?

The refund of interest on interest is available to the Borrower under RBI Circular, irrespective whether the moratorium has been availed or not by such Customer. However, as per the detailed guidelines of IBA, the interest on interest is to be refunded only if it has been charged.

PNBHFL does not charge compound interest on normal loans. Thus, no interest on interest was charged on loans which did not avail the moratorium. Hence, no refund is due on such accounts.

Will penal interest charge during this period will be refunded?

During moratorium period, charging of penal interest was suspended in all PNBHFL loan accounts for the moratorium period. Accordingly, no refund /waiver will be processed.

What calculation methodology has been used for arriving at the Interest on Interest amount?
  • The calculation of interest on interest has been done on daily balance. Any subsequent disbursement/ prepayment made during the moratorium period has been considered for calculation.
  • Actual interest rate prevailing as on a specific date has been considered for calculating interest on interest. Any change of rate taken place during moratorium period has been considered.
  • The interest on interest will be refunded only to the extent that it has been charged. For partial moratorium cases (customers who took moratorium for less than 6 months) and for the foreclosed cases (paid off during moratorium period), the interest on interest will be refunded only for the period of moratorium when the compound interest was charged and the loan was live.
What is the exact manner of passing on the benefit to the Borrower? Is it merely a credit to the account of the borrower, or does it lead to any cash benefit being transferred to the borrower?

In case of Live loan account, the benefit amount will be given in the form of pre-payment by adjusting the differential amount with the future payables by the borrower.

In case of Closed loan account, the benefit amount shall be refunded in the form of remittance to the borrower’s repayment account as updated in our records.

Part A. Resolution framework for Individual and Small Businesses

Who is eligible for restructuring under this scheme?

a) Individuals who have availed of personal loans, and which include loans given for creation/enhancement of immovable assets (e.g., housing, etc.).

b) Individuals who have availed of loans and advances for business purposes and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

c) Small businesses, including those engaged in retail and wholesale trade, other than those classified as micro, small and medium enterprises as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

Provided further that the credit facilities / investment exposure to the borrower was classified as standard as on March 31, 2021.

Whether borrowers covered under resolution framework 1.0 will be eligible for further restructuring under this scheme?

No, the borrower accounts which were restructured earlier will not be covered under the resolution 2.0. However, if the restructuring plan implemented under resolution 1.0 for personal loans, permitted no moratorium/moratorium of less than 2 years, the said account can be restructured under this scheme provided the overall moratorium allowed/tenor extended shall not be more than 2 years.

The overall caps on moratorium and / or extension of residual tenor granted under Resolution Framework – 1.0 and this framework combined, shall be two years.

What are the restructuring options that are available to me?

The resolution plans may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium, based on an assessment of income streams of the borrower, subject to a maximum of two year term.

FAQ’s on Resolution Framework 2.0

What is the purpose of Resolution Framework 2.0 announced by RBI?

The purpose of this framework announced on May 5, 2021 vide respective RBI circulars, is to provide relief to individuals, small businesses and entities registered as MSME whose operations have been adversely affected by the second wave of Covid-19 pandemic followed by lockdown in most of the states.

Part A. Resolution framework for Individual and Small Businesses

Who is eligible for restructuring under this scheme?

a) Individuals who have availed of personal loans, and which include loans given for creation/enhancement of immovable assets (e.g., housing, etc.).

b) Individuals who have availed of loans and advances for business purposes and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

c) Small businesses, including those engaged in retail and wholesale trade, other than those classified as micro, small and medium enterprises as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than Rs.50 crore as on March 31, 2021.

Provided further that the credit facilities / investment exposure to the borrower was classified as standard as on March 31, 2021.

Whether borrowers covered under resolution framework 1.0 will be eligible for further restructuring under this scheme?

No, the borrower accounts which were restructured earlier will not be covered under the resolution 2.0. However, if the restructuring plan implemented under resolution 1.0 for personal loans, permitted no moratorium/moratorium of less than 2 years, the said account can be restructured under this scheme provided the overall moratorium allowed/tenor extended shall not be more than 2 years.

The overall caps on moratorium and / or extension of residual tenor granted under Resolution Framework – 1.0 and this framework combined, shall be two years.

What are the restructuring options that are available to me?

The resolution plans may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium, based on an assessment of income streams of the borrower, subject to a maximum of two year term.

Part B. Resolution framework for Micro, Small and Medium Enterprises (MSME)

Who is eligible for restructuring under this scheme?

a. Micro, Small or Medium Enterprise as on March 31, 2021 in terms of the Gazette Notification S.O. 2119 (E) dated June 26, 2020.

b. The borrowing entity is GST-registered on the date of implementation of the restructuring. However, this condition will not apply to MSMEs that are exempt from GST-registration to be determined on the basis of exemption limit obtaining as on March 31, 2021.

c. The aggregate exposure, including non-fund based facilities, of all lending institutions such borrowers does not exceed INR 50 crore as on March 31, 2021.

d. The borrower’s account was a ‘standard asset’ as on March 31, 2021. The borrower’s account was not restructured in terms of the circulars DOR.No.BP.BC/4/21.04.048/2020-21 dated August 6, 2020; DOR.No.BP.BC.34/21. 04.048/2019-20 dated February 11, 2020; or DBR.No.BP.BC.18/21.04.048/2018-19 dated January 1, 2019 (collectively referred to as MSME restructuring circulars) or the circular DOR.No.BP.BC/3/21.04.048/2020-21 dated August 6, 2020 on “Resolution Framework for COVID-19-related Stress.”

What are the restructuring options that are available to me?

The resolution plans may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium, based on an assessment of income streams of the borrower via ITRs, GST returns bank statements and any other document submitted by the customer.

Part C. Common Points applicable on both the frameworks (A & B)

What are the timelines allowed under this scheme?

The request under this scheme shall be invoked by 30th September, 2021 and the same should implemented within 90 days of invocation.

What is the criteria for restructuring and do I need to submit any documents to avail of the restructuring benefit?
What is the criteria for restructuring and do I need to submit any documents to avail of the restructuring benefit?
Will opting for the restructuring package have an impact on my credit bureau report?

As per regulatory guidelines, loan/credit facility will be reported to the credit bureau as “Restructured due to COVID-19”.

Please note that as per regulatory guidelines, restructuring has to be reported at a Borrower level to the credit bureaus and hence all the facilities / loans of the borrower with the bank will be classified and reported as “Restructured” even if the borrower has taken restructuring for only one loan.

Will there be any additional cost of availing loan restructuring?

As clarified in Question #6 above restructuring may include rescheduling of payments, conversion of any interest accrued, or to be accrued, into another credit facility, additional term facility or, granting of moratorium each of which has additional cost implication.

I hold multiple loans/credit facilities with PNBHFL. Do I have to apply separately for each of these loans?

No, A single application form will suffice the restructuring request depending upon single / all linked loan accounts selected by the Customer. The assessment of the application will be done basis the regulatory guidelines on the COVID-19 impact and the viability of the repayment plan before arriving at any decision.

I have applied for restructuring, how will I come to know the status of my application?

The decision taken by the Company shall be communicated to the customer within 30 days of receipt of application.

Are all the Co-Borrower/s of the original Loan agreement required to sign the revised restructuring agreement?

As per regulatory and legal requirements, all Borrowers/Co-borrowers of the original loan need to agree and sign on any changes in the loan structure including the restructuring agreement.

FAQs on Waiver of interest on interest V1.2.0

What is the “Waiver of interest on interest” scheme approved by RBI?

It has been decided by the Government of India to waive “interest on interest” charged on consumer loans for the period 1st March 2020 to 31st August 2020. This will give a big relief to retail and MSME borrowers. A scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months of loans up to Rs 2 crore has been rolled out by Department of Financial Services through its notification dated 23rd October 2020

Borrowers who availed the moratorium will be compensated for the compound interest they would be charged by the banks while those who paid on time will get as cashback the notional interest on the interest that they paid.

Who is eligible for under this scheme?

a) Borrowers who have loan accounts having sanctioned limits and outstanding amount of not exceeding Rs 2 crore (aggregate of all facilities with lending institutions) as on February 29 shall be eligible for the scheme

b) Housing loan, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans are covered under the scheme

c) The loan account should be standard account as on February 29, 2020. By Standard Asset, it means that the loan should be less than 90DPD as on 29/02/2020

d) The payment will be made to the borrower’s loan account irrespective of whether the borrower has fully availed, partially availed or not availed the moratorium. Thus, even if you have not opted for the moratorium, then also you are eligible under the scheme.

The basic eligibility criteria is that total loan outstanding of the customer (all lenders) should be less than 2 crores. How will the total outstanding be arrived at?

The loan outstanding will be arrived at by checking the Bureau data i.e CIBIL data. If the CIBIL score shows total outstanding > 2 crores then benefit of ex gratia will not be available.

How will interest on interest waiver scheme work?

As per the scheme, the lending institutions shall credit the difference between compound interest and simple interest with regard to the eligible borrowers in respective accounts for the said period irrespective of whether the borrower fully or partially availed the moratorium on repayment of loan announced by the RBI on March 27, 2020.

Under the scheme, the difference between the compound interest and simple interest will be credited to the borrower’s loan account for the period between March 1, 2020 and August 31, 2020 (Six months/ 184 days).

How is the interest amount calculated?

If you have opted for the six-month moratorium, then the interest portion of your EMI will be added to the outstanding principal component and the new EMI is calculated for the remaining loan tenure. Normally, the interest is calculated using a compounding formula, which means you pay interest on accrued interest as well. However, under the waiver scheme, a borrower is required to pay simple interest instead of compound interest on the outstanding loan amount during the moratorium period which means a lower interest burden on the borrower. The difference between the simple interest (which is offered under the scheme) and compound interest (a normal banking practice) will be borne by the government irrespective of whether the borrower has availed moratorium or not. This essentially also benefits the borrower who were able to service their EMIs diligently even during the moratorium period.

Example:

Suppose the Loan outstanding as on 29/02/2020 : Rs 50,00,000
Rate : 9% p.a

Simple interest for 1 month : 50,00,000 x 9% / 12 = Rs 37,500
Simple interest for 6 months : 37,500 x 6 = Rs 2,25,000

Compound interest for 6 month :{5000000 x (1 + (9%/12)) ^ 6} – 5000000
= Rs 2,29,262

Difference (B-C) = Rs 2,29,262 – Rs 2,25,000
= Rs 4,262

What is the Principal on which the interest benefit is to be calculated? What if I have made a part payment in the intervening period? What if I have taken a subsequent disbursement?

The guidelines from government of India have made the scheme very simple. The amount on which the ex gratia benefit will be calculated is the principal outstanding as on 29th February 2020. Any part payment / subsequent disbursement done in the account post 29th Feb 2020 will not be considered in the base amount used for calculations.

Am I eligible, if my loan is closed (after Feb 2020)?

Those who have foreclosed/ preclosed/closed their loan dues during the moratorium between March and August 2020 will also be eligible for the benefit. The period for which the interest benefit will be calculated will be restricted to time between 01st March 2020 till the date of closure of loan.

What will be the rate of interest on which the benefit will be given?

The interest rate on which the computation (differential between Simple interest and compound interest) would be worked out (as shown in example in answer to Question no 4) will be the rate which was prevailing as on February 29, 2020.

When will the amount be credited?

The amount will be credited to the borrower’s loan account by November 5, 2020. In case the loan account is closed, the amount will be credited to the borrower’s savings bank account by November 05, 2020.

What will be the mode of credit of the ex gratia (interest on interest) payment?

For the Live loan accounts, the ex gratia payment will be credited as a prepayment into the loan account of the customer.

For the loans which have been closed, the payment will be credited as NEFT/Cheque into the repayment bank account of the customer

What will be the impact of this payment on the EMI of the loan?

The EMI of the loan will remain unchanged to the existing (Post August 2020) EMI. The credit of ex gratia payment to the loan account will lead to reduction in balance tenor.

Customer Portal & Mobile Application

How can I access my account details online?

Deposits and Loan account details are available online on Customer Portal and on Mobile Application. The web version can be accessed through the website by clicking  “Customer Login”  and mobile application can be downloaded from Google Play store (for Android) and App Store (for iOS). Users can create their user id and password to enjoy hassle free online services. It is a single window interface to provide important information at a click of a button, like IT Certificates, EMI payment status etc.”

Link Customer login to  https://customerservice.pnbhousing.com/myportal/pnbhfllogin

What all services can a home loan customer avail from the Mobile Application?

Customers can anytime anywhere access the following:

1. Download Statement of account
2. Download IT Certificates
3. View Transaction history
4. Update email address
5. Raise & Track Service Requests
6. Apply for subsequent disbursements

What all services can a deposit customer avail from the Mobile Application?

Customers can anytime anywhere access the following:

1. Download Statement of account
2. Download Interest Certificates
3. Submit Form 15G/H online
4. Update email address
5. Raise & Track Service Requests

Frequently Asked Questions :: Pradhan Mantri Awas Yojna (PMAY)

Who Can Avail Subsidy Under Credit Linked Subsidy Scheme (CLSS) under Pradhan Matri Awas Yojna (PMAY)?
  • A beneficiary family not owning a house in any part of the India is eligible for this subsidy subject to income criteria as defined for the family under various schemes for EWS/LIG/MIG-1 and MIG-2.
  • Through this scheme, the beneficiary is eligible to avail interest subsidy on the purchase/construction of a house/enhancement of a dwelling unit.
  • For more details please refer to the section on PMAY.
How can a customer track his PMAY Application online?

Customers may track the status of their PMAY application through the link https://pmayuclap.gov.in/ by using their Application id.

Frequently Asked Questions :: Customer Service

Loans
Can I prepay my Home Loan? Are there any charges applicable?

Yes, home loan can be prepaid. Part payment is to be made vide a cheque at any of your nearest PNB Housing branches. The cheque should be in favour of “PNB Housing Finance Limited ”, from any of the loan applicants bank account only. Part prepayments are to be made between 6th till 24th of the month. For applicable loan pre-payment fee, kindly refer to the Schedule of Charges under “Fair Practice Code”  section on our website  www.pnbhousing.com

Can I prepay my loan outstanding in full? Are there any charges?

Yes, loan outstanding can be pre-paid before the completion of the actual tenure. As a process you will need to submit a written application at the branch. Please note that the application is to be submitted by the borrower himself along with a service fee (refer schedule of charges). Full prepayments are to be made only between 6th till 24th of the month. For applicable loan pre-closure fee, kindly refer to the Schedule of Charges under  “Fair Practice Code”  section on our website  www.pnbhousing.com.

How do I get my Income Tax certificate?

Income Tax certificates can be availed from: 1. Our IVR Services by calling at 1800 120 8800 2. Our Mobile Application 3. Our website https://customerservice.pnbhousing.com/myportal/pnbhfllogin. The certificate from the above is not chargeable. If certificate is availed from any other source, a nominal service fee will be applicable. Kindly refer to the Schedule of Charges under “Fair Practice Code” section on our website www.pnbhousing.com

How do I get my Statement of Account?

Statement of Accounts can be availed from: 1. Our IVR Services by calling at 1800 120 8800 2. Our Mobile Application 3. Our website https://customerservice.pnbhousing.com/myportal/pnbhfllogin. The certificate from the above is not chargeable. If certificate is availed from any other source, a nominal service fee will be applicable. Kindly refer to the Schedule of Charges under “Fair Practice Code” section on our website www.pnbhousing.com

How do I get my Loan repayment Schedule?

Repayment Schedule can be availed from: 1. Our Mobile Application 2. Our website https://customerservice.pnbhousing.com/myportal/pnbhfllogin. The certificate from the above is not chargeable. If certificate is availed from any other source, a nominal service fee will be applicable. Kindly refer to the Schedule of Charges under “Fair Practice Code” section on our website www.pnbhousing.com

What are the visiting hours to your branches?

You may visit our branches from Monday to Saturday (except for 1st & 2nd Saturday) between 10:am to 2pm. Please ensure to book an appointment before visiting our branch through https://www.pnbhousing.com/book-an-appointment/.

How do I replenish exhausted PDCs?

1. Repayment of the loan is preferred through NACH. Forms for which are available at our branches. A cancelled cheque along with 2 PDCs will be required to be submitted at any of the PNB HFL branches for NACH registration. The registration usually takes 45 days.
2. Alternatively, if PDCs are to be replenished, then kindly submit the Post Dated Cheques to your nearest PNB HFL branch before the EMI due date to avoid any late payment charges

In how many installments can you disburse the loan to me?

Once we receive your request for disbursement, we will disburse the loan in full or in instalments, which usually do not exceed three in number. In case of an under construction property, we will disburse your loan in installments based on the progress of construction, as assessed by us and not necessarily according to the developer’s agreement.

Fixed Deposits
Can a deposit customer redeem his FD amount before the contracted term? If so, are there any conditions applicable to the same?

Yes, FD amount can be withdrawn before the original term (pre-mature withdrawal) of the FD. In accordance with the provisions of the Housing Finance Companies (NHB) Directions 2010, and on request being made by a depositor, premature withdrawal of the deposit may be allowed subject to the following conditions:

Period completed from date of deposit Individuals Non – Individuals
(a) Minimum lock in period 3 Months 3 Months
(b) After three months but before six months 4% p.a. No Interest
(c) After six months but before the date of Maturity

For Individuals and Non – Individuals the interest payable shall be 1% percent lower than the interest rate applicable to a public deposit for the period for which the deposit has run.

 

In case a deposit is made through an authorized deposit broker – the excess brokerage paid will be recovered from the deposit amount. Excess brokerage is the difference between brokerage for original contract period minus brokerage for the period for which deposit has run.

When does a customer become liable for TDS?

If the aggregate interest income a customer is likely to earn for all deposits is greater than Rs. 5,000/- in a financial year, depositor becomes liable for TDS. A customer can submit Form 15G (For Individuals and HUF) /15H (For Senior Citizen who is of the age of 60 years or more) or a certificate for lower/nil deduction of TDS issued by Income Tax Authorities u/s 197 of the Income Tax Act, 1961. In case of NRIs, any amount of interest paid/credited during the financial year shall attract TDS.

However if the PAN status is non-compliant at Income Tax website, then TDS will be deducted at double the rate of TDS, under the section 206AB of IT ACT, with no exemption.

Is nomination facility available?

Yes, nomination facility is available with PNB Housing FD.

Is it mandatory to give fresh application form on renewal?

Yes, as per the directions of National Housing Bank, depositor has to provide a duly discharged deposit receipt along with an application form at the time of renewal.

However, auto renewal is available for one-time renewal. For any further renewals, a fresh application is required.

How can change in demographic details of an individual be informed?

Change in demographic details can be informed to PNB Housing branch office through an e-mail from the registered e-mail id or placing a request on the Company’s website, under Customer Care Write to Us section.

What is the procedure for re issue of lost/mutilated deposit receipt?

In case a deposit receipt is lost/ mutilated a depositor has to give an application and an indemnity form for issue of duplicate deposit receipt.

What is the procedure for payment of deposit proceeds in case of death of a depositor?
  •   In case of death of depositor, the proceeds will be paid to nominee/joint holder, if the repayment option is either or survivor.
  • In other cases, the legal heir(s) have to produce either a succession certificate/ probate of a will and an indemnity bond (in a prescribed format). Claim will be settled by PNB Housing, if the Company is otherwise satisfied.
Checklist of Know your Customer (KYC) Compliance?

In terms of the Prevention of Money Laundering Act, 2002, the rules notified there under and KYC guidelines issued by the Reserve Bank of India (RBI), every depositor is required to comply with the KYC requirements by submitting the following document:

  • Latest photograph.
  • Certified copy of proof of identity such as Aadhar Card, Passport, Driving License etc.
  • Certified copy of proof of address, for Corporate it is certificate of incorporation, Registration no. / trust deed.