Punjab National Bank – a leading public sector bank in India, has launched an embedded home loan scheme.
An embedded home loan is a kind of financial service which is integrated directly with non-financial platforms such as real estate search websites, property listing apps, or builders’ websites. This allows users to apply for and secure a loan for their dream home immediately within the same digital environment where they are booking the house, rather than having to visit a bank separately.
Customers can apply for home loan digitally via the Digi Home Loan portal of PNB. After logging into the portal, customers can select the builder’s project and enter details like Flat Number, Area, etc. Once the data is entered, an SMS/mail will be sent to the builder for confirmation.
Builder shall approve the confirmation within 48 hours. After that customer will login in Digi Home Loan portal and continue the loan application.
If a customer visits the builder’s website for booking flat, he/she can initiate the embedded housing loan journey from there itself. Customer will get an option of ‘Apply for Loan with PNB’ and submit loan application to PNB.
For this purpose, Bank has created a portal for builders also. Builders will update the unsold inventories for their projects and confirm the booking by customers.
PNB will also provide Payout to Marketing Associates for providing home loan leads to the Bank. The payout will be as follows:
| Business per Month | Payout (% of loan) |
|---|---|
| Upto Rs.0.25 Cr | 0.35% |
| More than 0.25 Cr to Rs.0.50 Cr | 0.40% |
| More than 0.50 Cr to Rs.0.75 Cr | 0.60% |
| More than Rs. 0.75 Cr to Rs.2.00 Cr | 0.70% |
| More than Rs. 2.00 Cr to Rs.5.00 Cr | 0.75% |
| More than Rs. 5.00 Cr to Rs.10.00 Cr | 0.80% |
| More than Rs. 10.00 Cr | 0.90% |
| Max cap | Rs.10.00 lakhs per proposal |
