Punjab National Bank (PNB) has launched a new Tribal Plus Loan Scheme to make home loans easier for people living in tribal areas.
The scheme is designed to help eligible borrowers who often face difficulties in getting housing loans because of restrictions related to land ownership and mortgage creation.
With this initiative, PNB aims to improve access to formal housing finance and help more families achieve their dream of owning a home.
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Who Can Apply for the PNB Tribal Plus Loan Scheme?
The scheme is available in tribal areas covered under PNB’s Guwahati and Raipur Zones.
Eligible applicants include:
Salaried employees
Professionals
Businessmen
Self-employed individuals
The loan can be used for:
Buying a house or flat
Constructing a new home
Repairing an existing house
Renovating a home
Extending a residential property
Loan Amount and Repayment Details
Under the Tribal Plus Loan Scheme:
Salaried borrowers can get a home loan of up to Rs 40 lakh.
Professionals, businessmen and self-employed individuals can avail loans of up to Rs 25 lakh.
The repayment period is up to 15 years, making it easier for borrowers to manage their EMIs.
The interest rate will depend on the applicant’s profile and credit assessment.
Key Features of the Scheme
PNB has introduced several features to make the scheme more useful for borrowers in tribal regions.
Some of the key benefits include:
Home loans starting from Rs 1 lakh.
Maximum loan of Rs 40 lakh for eligible salaried applicants.
Funding for home purchase, construction, repair, renovation and extension.
Flexible repayment tenure of up to 15 years.
Customized eligibility criteria for different categories of borrowers.
Special loan structure designed for tribal areas where regular mortgage-based financing may not be possible.
Available through selected PNB branches in eligible tribal regions.
PNB Aims to Improve Financial Inclusion
According to PNB, the Tribal Plus Loan Scheme has been introduced to improve access to institutional housing finance in underserved tribal areas.
The bank says the initiative will help eligible families overcome financing challenges, promote home ownership, and support financial inclusion and socio-economic development in these regions.