PNB Bank Application Form for PMAY MIG Loan
PNB Bank Application Form for PMAY MIG Loan from Download
Based on the provided document, the PNB Housing for All Application Form (PNB 1215) is Punjab National Bank’s dedicated form for securing a Home Loan under the Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) for the Middle Income Group (MIG) (pp. 1, 6-7).
The key points, eligibility rules, and documentation criteria from this packet include:
1. Essential Eligibility & Exclusions (Pages 5 & 7)
- Property Ownership Restraint: Borrowers must officially declare that neither they nor any member of their family owns a pucca house (all-weather dwelling unit) anywhere in India (pp. 5, 7).
- No Dual Benefits: The applicant must certify that they have never availed of central housing assistance under any other Government of India housing scheme (p. 5).
- Defined Beneficiary Family: A beneficiary family is strictly defined as a husband, wife, and their unmarried children (p. 7).
2. Category Criteria & Subsidy Limits (Page 7)
The loan parameters are divided into two distinct financial categories based on household annual income (p. 7):
| Particulars | MIG-I Category | MIG-II Category |
|---|---|---|
| Household Annual Income | Above ₹6.00 lakh up to ₹12.00 lakh | Above ₹12.00 lakh up to ₹18.00 lakh |
| Max Loan Amount Eligible for Subsidy | Up to ₹9.00 lakh | Up to ₹12.00 lakh |
| Interest Subsidy Rate | 4.0% p.a. | 3.0% p.a. |
| Max Dwelling Unit Carpet Area | Up to 160 sq. meters | Up to 200 sq. meters |
| Maximum Subsidy Tenure | 20 Years | 20 Years |
- Processing Fee Waiver: The bank cannot charge processing fees on the loan amounts up to the exempted subsidy limits (the Government pays ₹2,000 per application to the bank instead) (p. 7). Standard fees apply only to loan amounts crossing those limits (p. 7).
3. Financial & Property Disclosures (Pages 3, 4 & 5)
- Income & Banking Statements: Requires a granular breakdown of gross monthly pay, professional/income taxes, PF deductions, and existing EMIs (p. 3). Last 6 months of bank account statements must be appended (p. 3).
- Financing Dynamics: The form requires an absolute balance statement pairing the total estimated uses of funds (purchase cost, registration, stamp duty, insurance) against the sources of funds (requested bank loan, personal savings, other investments) (pp. 4-5).
- Repayment Plan: Applicants select between a Fixed or Floating interest rate and nominate their preferred automated repayment mode (ECS, Standing Instruction, or Post-Dated Cheques) (p. 5).
4. Mandatory Document Checklist (Page 8)
To support the application, the borrower must submit a comprehensive document kit (p. 8):
- Affidavits: A self-declaration MIG income certificate and a signed affidavit verifying that the beneficiary family does not own a pucca house anywhere in India (p. 8).
- Property Technical Papers: Approved construction plans, an Architect/Engineer’s certificate detailing exact construction/extension costs, and an execution agreement with the builder (p. 8).
- Authorized Area Undertaking: An affidavit-cum-undertaking explicitly stating that the construction resides in an authorized area and strictly complies with local building bye-laws (p. 8).
5. Timelines & Third-Party Permissions (Pages 5 & 6)
- Processing Turnaround: PNB issues an official acknowledgement receipt upon submission. The bank guarantees that the application will be disposed of and a final acceptance/rejection notification issued within 15 days of receiving a completed form (p. 6).
- Data Sharing Authorization: The declaration legally empowers PNB to share the borrower’s repayment history, financial data, and loan details with credit bureaus (like CIBIL), the RBI, or third-party support agencies without needing further specific consent (p. 6).
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