New Delhi: Punjab
National Bank (PNB), one of India’s leading public sector banks, has introduced
“Tribal Plus Loan Scheme”, a customized Term loan product
aimed at facilitating access to housing finance for eligible borrowers residing
in tribal areas. The scheme has been designed to address challenges associated
with conventional home loan financing in regions where restrictions on mortgage
creation and land ownership often act as barriers to formal credit access.
The scheme will be applicable in tribal areas under PNB’s
Guwahati and Raipur Zones and is intended to support individuals in fulfilling
their housing aspirations through tailored financing solutions.
Under the scheme, eligible salaried individuals,
professionals, businessmen and self-employed persons can avail loans upto Rs.
40 Lakhs for the purchase, construction, repair, renovation or extension of
residential houses and flats.
Speaking on the occasion, Shri Subodh Kumar, General
Manager, PNB, saids: “At PNB, we remain committed to expanding the reach of
formal financial services to underserved part of the country through innovative
and need-based banking solutions. The PNB Tribal Plus Loan Scheme has been
developed to address the unique challenges faced by residents of tribal areas
in accessing housing finance. Through this initiative, we aim to support home
ownership and improve access to institutional credit while promoting financial
inclusion and socio-economic development in these regions.”
Key features of the PNB Tribal Plus Loan
Scheme include:
• Financing for purchase, construction, repair,
renovation and extension of residential houses/flats
• Loan amount ranging from Rs. 1 lakh up to Rs. 40 lakh for eligible salaried
borrowers and up to Rs. 25 lakh for eligible professionals, businessmen and
self-employed individuals
• Flexible repayment tenure of up to 15 years
• Competitive interest rates linked to borrower profile and credit assessment
• Tailored eligibility norms for salaried, professional, business and
self-employed borrowers
• Specially designed structure to facilitate housing finance in tribal areas
where conventional mortgage creation may be constrained
• Availability through designated PNB branches in eligible tribal regions
The Bank believes that the scheme will contribute towards
greater financial inclusion by enabling easier access to housing finance for
tribal areas while supporting their long-term socio-economic development.
For more information,
customers may visit nearest PNB branches or log on to pnb.bank.in.