1. Construction Finance or Project Finance |
Object | : | Construction Finance or Project Finance is a unique offering under which Banks directly finances real estate developers for projects they are developing. This product comes with customized offerings built around real estate developer’s project acquisition and construction cost basis a detailed evaluation of the project by PNB Housing. Our focus in Construction Finance is primarily on financing residential projects which give fillip to retail mortgage business. | ||
Loan term | : | Minimum-6 Months Maximum-5 years | ||
Security & Title | : | Mortgage of the land over which the building is proposed along with super structure. Personal Guarantee of the Partners / Promoters Corporate Guarantee (if required) | ||
Disbursement of loan | : | Installments depending on the progress of work in the project, its funding requirements and availability of sufficient security cover. | ||
Repayment of loan | : | Through Escrow Account. | ||
2. Term Loan | ||||
Object | : | To Builders/Developers for business purpose. |
Loan term | : | Minimum – 6 Months Maximum – 3 years |
Security & Title | : | Mortgage of the Security of adequate Value acceptable to Banks as may be deemed necessary. The Receivables from various ongoing Projects to be assigned in favour of Banks. Personal Guarantee of the Promoters of the Company. Any other security as may be considered necessary by Banks |
Disbursement of loan | : | In single tranche or in Installments based on the requirement of the Applicant Company as agreed mutually. |
Repayment of loan | : | Through Escrow Account. |