FAQs

1. What are the types of home loans that PHFCL offers?

PHFCL provide home loan for construction of residential house or building, purchase of readymade flat or house, acquisition of plot and construction of house on the purchased plot, extension of existing house, and repairs, renovation and up-gradation of house or flat. The company also offers non home loan for personal use.

2. Who can avail loan from PHFCL?

Government employee/ Private employee/Self Employed/ Professionals who have attained the age of 22 years and less than 55 years can avail loan from PHFCL. The property of the applicant should have a clear and marketable title. The applicant should not be a defaulter for any loan from a bank or financial institution.

3. What are the interest rate offered to housing loan and non-housing loan?

PHFCL offers floating and fixed interest rate based on the market dynamics. Currently, the company offers housing loan at a floating rate of interest in between 8.36% to 16.50% . Non-housing loan is provided at a fixed interest rate in between 16% – 16.5%. Interest rate may change at the discretion of the company from time to time.

4. What are the required list of documents for availing loan from PHFCL?

The below are the list of documents required for availing loan from PHFCL:

  • Legal Document :- Title Investigation Report (TIR) issued by an Advocate who has verified the title of the property
  • Land Valuation Document :- Land valuation certificate from the approved Valuer
  • Property Documents
    • Title Deed (Gift or Sale deed)
    • Certified Order Copy (Mutation/Misc.)
    • Cancelled or Un-canceled Patta
    • Update Jamabandi/Patta
    • Trace map
    • Latest land revenue receipt
    • Non-encumbrance certificate (NEC) for the last 15 years
  • KYC Documents : PAN and Aadhaar and other KYC related documents

6. What are the repayment period options?

Repayment period options ranges from 5 years to 20 years.

7. How does PHFCL decide the loan amount?

Loan amount is decided based on the net salary/income of the individual, age, repayment capacity, and abstract cost of construction of the house.

8. Are securities required for home loans?

The property to be purchased itself or the property under which house to be build becomes the security and is mortgaged to the lending institution till the entire loan is fully repaid. Some institutions may ask for additional security such as life Insurance Policies, Fixed Deposit (FD) receipts and share a saving certificate. PHFCL does not ask additional securities. Securities would be asked by PHFCL only in few exceptional cases.

10. Can customers make joint applications for home loans?

PHFCL allows joint application (of spouse/parents/son) for home loans.

11. Is there tax benefit for home loan?

Under housing loan, a customer can avail tax benefits under three sections of Income Tax Act. Under the Section 24, for a self-occupied property, a customer can avail tax deduction of ₹ 2 Lakhs, however, there is no limit for non-self-occupied property. Under the Section 80C, for both self-occupied and non-self-occupied property, a customer can avail tax deduction of ₹ 1.5 Lakhs. Under the Section 80EE, for both self-occupied and non-self-occupied property, a customer can avail tax deduction of ₹ 50,000.

12. How do a customer raise grievances?

Grievances/complaints could be lodged by mailing the detailed matter at databank@phfcl.org.in. The company will address the issue with a solution within 2 working days. In case, the solution is not provided within two working days, the customer can escalate the issue to the concern person/authorities provided below:

 

Level 1 Level 2 Level 3 Level 4
Customers are requested to visit, call or write to the nearest branch of PHFCL with the following details

Name of branch head

Customer’s Contact details: phone, email and full address

 If not attended in 7 working days, lodge a complaint by mailing to us at rockyk@phfcl.org.in

Or visit our website http://phfcl.org.in/contact-us/ to lodge an online complaint

 If the complaint is not resolved satisfactorily in 15 working days, contact our Grievance Redressal Officer, at:

dhanabir@phfcl.org.in

or through letter to  T. Dhanabir Singh, Panthoibi Housing Finance Company Ltd., 3rd Floor, Uripok Tourangbam Leikai, Near Flyover Bridge, Imphal West, Manipur, Pin – 795001

 If the complaint is not redressed satisfactorily within 30 working days, customer may directly mail at crcell@nhb.org.in or write to

The General Manager

Complaint Redressal Cell, Department of Regulation and Supervision, National Housing Bank, 4th Floor, Core 5-A, India Habitat Centre, Lodhi Road, New Delhi – 110003

 

Grievance Redressal for ex-gratia payment

Customers are requested to contact our Grievances Redressal Officer Ms. Laishram Sylvia Devi, Panthoibi Housing Finance Company Ltd., 2nd Floor, Uripok Tourangbam Leikai, Near Flyover Bridge, Imphal West, Manipur, Pin – 795001 or write to sylvial@phfcl.org.in for any kind of Grievances Redressal related to ex-gratia payment of difference between Compound Interest and Simple Interest for six months to the borrowers.

Or visit our website http://phfcl.org.in/contact-us/ to lodge an online complaint.

Grievance Redressal for PMAY-CLSS

Customers are requested to contact our Grievances Redressal Officer Mr. Kiyam Rocky Singh, Panthoibi Housing Finance Company Ltd., 2nd Floor, Uripok Tourangbam Leikai, Near Flyover Bridge, Imphal West, Manipur, Pin – 795001 or write to rockyk@phfcl.org.in for any kind of Grievances related to Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme (PMAY-CLSS).

Or visit our website http://phfcl.org.in/contact-us/ to lodge an online complaint.

The grievances will be address within 7 working days.

13. What is the mode of repayment?

Borrower can make the repayment through electronic mode (NEFT/UPI/RTGS/NACH) or Cheque/PDC.

PHFCL also offers NACH mandate to make repayment.

14. What are the Due Dates for paying of EMI/PEMI?

PHFCL provides three different dates ie. 7th, 15th, & 22nd as due date for paying EMI/PEMI every month. Borrower/s are free to choose any of the date.

15. Can a borrower/s change Due Dates for paying of EMI/PEMI?

Yes, Borrower/s may also change their repayment due date (to 7th, 15th, or 22nd) by submitting a change request in written or email (phfcl.loan@gmail.com) before 5 working days of the repayment due date. Change of Repayment Due Date is permitted only twice in a financial year.

16. Can a borrower/s cancel their NACH mandate?

Yes, Borrower/s can cancel their NACH mandate before 5 working days from the opted NACH mandate date.

To Cancel NACH mandate, Please fill below form and Submit.

Your Name (required) 8 Digit Loan Account Number (required)
Your Email (required) Bank account No. provided in the Loan Application (Required)
Mobile Number (required)
 Subject
Your Message

 

 

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