6 Ways to Make Sure PNB’s Home Loan Approved Faster

Are you facing pressure for a new, bigger home for your growing family? A safe, spacious and comfortable place to settle is one of the greatest accomplishments you can achieve.

However, owning your dream home can be a challenge due to the huge cost of a home. But with a home loan, you can build or buy a turnkey home of your choice.

Today, it has become easy to apply online and get your loan approved in the shortest possible time. Once you meet the eligibility criteria and submit required documents like proof of income, address and proof of identity, your loan will take a few days to be processed.

Remember that any mistakes can delay the processing of PNB housing loans or lead to rejection, which hurts you in the long run. You can use the steps below to improve home loan approval and disbursement.

6 Effective Tips to Guarantee Faster Home Loan Approval

Build your credit score before you apply

Each institution offering a credit facility will consider your CIBIL score. A high credit score gives your lender confidence in your ability to repay. Your loan is likely to be approved faster when you have an impressive credit score than a low CIBIL score. Remember that the interest rate also differs depending on your credit score.

You will get the PNB housing loan at the lowest interest rate with a credit score of 800 and above, which reduces the payable cost of the loan. So if you’re planning on getting a home loan soon, start building your credit score by paying off an existing loan on time.

Also, never default on credit card bills to keep your CIBIL score high. Also, avoid too many outstanding loans. You can also close a few loans before applying for a home loan, which speeds up approval.

Erase Credit Report Errors

When did you last review your credit health report? Credit bureaus generate your credit report and may have errors reported by lenders. Get the latest copy of your credit report and scan it to make sure there is no missing or incorrect information.

Contact the credit bureau for corrections if you find credit report errors. Remember that PNB Housing Loan Corporation verifies the applicant’s credit rating and credit history before approving home loans. Therefore, keep your credit report error-free to speed up loan approval.

If you are confused, you can look PNB Housing Reviews to make a better decision.

Opt for a long-term loan

If you apply for a home loan with a long repayment period, the monthly payment assimilated to pay decreases, which reduces the pressure on your monthly budget.

Additionally, a small EMI and longer loan term minimizes the risk of default on monthly EMIs. You can apply for a long-term loan and make partial repayments if you get excess money to close your loan before the repayment period.

Make the right and correct documentation

Your loan application will be rejected or delayed if you do not have the required documents. PNB Housing Finance Company expects you to submit proof of income, identity and address when applying for a home loan.

You can provide PAN card, driver’s license, bank statements, payslips, and IT statements to confirm your address, identity, and income, which speeds up loan approval.

Obtain a co-applicant

You have a higher chance of loan approval if you apply jointly with your spouse or a family member. One co-applicant means two incomes to service the loan, hence low risk of repayment failure.

You will also be eligible for a higher loan amount when you opt for a joint loan, as this indicates a higher repayment capacity.

Choose a reputable property developer

If you’re not buying a ready-made home, choosing a trusted developer can lead to quick loan approval. PNB Housing Finance Corporation deals with registered and reliable developers.

A good developer increases the chances of the project being completed on time, without legal entanglements.


Owning a home is an emotional investment other than a financial transaction. Before you submit your home loan application, use the tips above to speed up your loan approval and processing. Include a co-applicant, establish your credit score, and secure a reputable developer and proper documentation to avoid any delays or rejections to your application.

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