GNP
Housing Finance
Limited is
a wholly owned
subsidiary
of Punjab
National Bank,
a major nationalized
bank of India.
GNP Housing
Finance offers
two types
of housing
finance for
customers.
Apna Ghar
Yojana is
the housing
finance provided
to individuals
for the construction
or acquisition
or purchase
of house /
apartment
development
authorities
such as DDA
/ Huda / Puda
RHB etc and
also manufacturers
of private
sector / groups
housing companies.
Another GNP
mortgage is
called Sudhar
Ghar Yojana
i.e. renovation
or repair
of house /
apartment.
Internal and
external repairs,
waterproofing,
roofing, flooring,
electricity,
carpentry,
all are included
in this system.
Those residents
or non-residents,
who are in
permanent
service or
having their
own businesses,
can benefit
both from
the GNP of
housing finance
schemes. The
age of the
applicant
should not
exceed 60
years in the
event of the
class of service
and 65 years
in case of
companies
or self-employed.
The amount
of the loan
is actually
determined
by the GNP
on housing
finance limited
after taking
into account
income, age,
qualifications
and occupation
of the applicant.
The minimum
loan is online.
50000 / -
where the
maximum loan
amount for
the Sudhar
Ghar Yojana
would be rupees.
10 lakhs.
The maximum
loan amount
for the Apna
Ghar Yojana
depends entirely
on the repayment
ability of
the borrower.
In case of
joint application,
income from
the borrower
and co-borrowers
(as spouse,
son, daughter
live together)
can be clubbed
together for
the calculation
of the burden
of eligibility.
Apna Ghar
Yojana, Minimum
contribution
of the applicant
would be 20%
of the total
project cost,
including
stamp duty
and registration
fee. The interest
rate varies
depending
on the loan
amount and
the repayment
period. For
loan amount
up to Rs 10
lakhs, the
interest rate
varies from
11.25 percent
to 11.50 percent
variable rate
of interest.
For 3-year
fixed rate
of interest,
the interest
rate is 12.75
percent. Amount
of loan over
10 lakhs,
the floating
interest rate
varies in-between
11 per cent
to 11.25 per
cent, while
the 3-year
fixed rate
of interest
remains on
12.50 percent.
In Sudhar
Ghar Yojana
GNP system
of housing
finance, the
interest rate
varies from
11 to 11.25
per cent.
Borrower’s
minimum contribution
should be
25% of the
estimated
cost of repairs
/ renovations.
To learn more
about housing
finance in
India navigate
the site.
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