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PNB Housing Finance
Let’s take a brief overview of PNB Housing Finance Home Loan:
| Loan Amount | Up to 90 % of the property cost |
|---|---|
| Rate of interest | 8.50% onwards |
| Tenure | Up to 30 Years |
| Lowest EMI possible | Rs. 769 Per Lakh |
| Processing fee | Up to 0.50% of the loan amount |
| Prepayment/ Foreclosure Charges | Nil for floating home loan |
PNB Housing Loan Features and Benefits
The Key features of PNB Housing Finance are:
- PNB Housing Loan interest rates start from 8.50% per annum.
- Loan amount: Up to 90% of property value.
- Repayment tenure: Up to 30 years
- PNB Home Loan Processing Fees is nominal. It can go up to 0.50% of the loan amount. Minimum processing fees is Rs 10000.
- Lowest EMI possible: Rs.769 per Lakh
- Floating interest rates, linked to PNBHFR benchmark.
- Customised PNB Housing Home Loans for renovation, Home loan for Construction, extension, and purchase of home.
Table of Contents: PNB Housing Home Loan [Show]
PNB Housing Home Loan Interest Rates
PNB Housing Finance Home loans are available at floating rates and vary as per the borrower's credit score. The PNB Housing Home Loan Interest Rates are linked to its benchmark rate PNBHFR.
With effect from 10th Apr 2024, the rate of interest for PNB Housing are as below:
For Home Loans up to Rs 35 lakhs
| Credit Score | Salaried or Self-employed professional (SEP) | Self-employed non-professional (SENP) |
|---|---|---|
| 800 or above | 8.50% to 9.25% | 8.80% to 9.30% |
| 775 - 799 | 9.10% - 9.60% | 9.55% - 10.05% |
| 750 - 775 | 9.25% - 9.75% | 9.70% - 10.20% |
| 725 - 750 | 9.55% - 10.05% | 10.15% - 10.65% |
| 700 - 725 | 9.85% - 10.35% | 10.45% - 10.95% |
| 650 - 700 | 10.25% - 10.75% | 10.65% - 11.15% |
| Up to 650 | 10.25% - 10.75% | 10.65% - 11.15% |
| Low credit or no history | 10.15% - 10.65% | 10.55% - 11.05% |
For home loans greater than Rs 35 Lakh
| Credit Score | Salaried or Self-employed professional (SEP) | Self-employed non-professional (SENP) |
|---|---|---|
| 800 or above | 8.50% to 9.25% | 8.80% to 9.30% |
| 775 to 799 | 9.20% - 9.70% | 9.70% - 10.20% |
| 750 to 775 | 9.35% - 9.85% | 10.05% - 10.55% |
| 725 to 770 | 9.70% - 10.20% | 10.20% - 10.70% |
| 700 to 725 | 10.05% - 10.55% | 10.65% - 11.15% |
| 650 to 700 | 10.45% - 10.95% | 10.85% - 11.35% |
| up to 650 | 10.45% - 10.95% | 10.85% - 11.35% |
| less than zero | 10.35% - 10.85% | 10.75% - 11.25% |
Grid rates for different Types of PNB Housing Finance Home Loans
| Unnati Home Loan | 11.75% - 13.00% |
| Home Loans under special programs | Banking + 0.25% to applicable rate LIP + 0.50% to applicable rate Rental Income Program + 0.50 to applicable rate % |
| Plot purchase (not Purchase + Construction) | + 1% to HL Grid rate |
| Home Improvement Loan |
|
| Top-up Loans | As per Non Home Loan i.e LAP |
PNB Housing Home Loan Comparison with Other Lenders
| Lender | Maximum Loan Amount | Interest Rate | Processing Fee |
|---|---|---|---|
| PNB Housing Finance | Up to 90% of the property | 8.50% | Up to 0.50% (Minimum Rs. 10,000) |
| HDFC Home Loan | Up to 90% of property cost | 8.75% - 9.65% | Up to 0.50% or Rs. 3,000 (whichever is higher) + applicable taxes |
| ICICI Home Loan | Up to 90% of the property | 8.75% | 0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
| SBI Home Loan | Up to 90% of property cost | 8.50% - 10.05% | Up to 0.35% + applicable GST |
PNB Housing Finance Loan Schemes
PNB Housing Finance offers the following types of Home Loans to customers:
PNB HFL Home Purchase Loan:
- PNB Housing Home Loan for purchase, construction and extension of residential units.
- Apply online or offline as per your choice
- doorstep services for quick processing
- Great post disbursement services
- Home Loan Top up available
- Multiple repayment options
- Insurance option available too.
PNB HFL Home construction loan:
- PNB Loan for self-construction of a residential unit.
- Best option for customers looking out for financing for Home Construction Loan on pre-owned land.
- All regular benefits of PNB HFL Home Loan available.
PNB HFL Home extension loan:
- PNB Loan for adding more space to an existing house.
- Apply if you need to build an extra room or floor for your home.
- Tailored loan option as per the financing requirement.
PNB HFL Home improvement loan:
- Apply for a customised home improvement loan to upgrade your home.
- You can apply for complete renovation or repair as well as modification work.
- Apply for a PNB home improvement loan for:
- External and/ or internal repairs
- Renovations & Paint work
- Water-proofing & roofing
- Tiling and flooring
- Plumbing & electrical work
- False ceiling & woodwork & more
PNB HFL Residential Plot Loan:
- PNB Home Loan for the construction or purchase of residential plot.
- The plot should be located in an urban area.
PNB HFL Home Loan for NRIs:
- Customised PNB home loan for NRIs (Non-Resident Indians) & PIOs (Person of Indian Origin).
- Financing available for purchase, construction, extension etc.
- Excellent customer support & services for overseas customers.
PNB Unnati Home Loans:
| Floating Scheme | UNNATI Home Loans | |
|---|---|---|
| Loan Amount>> | Salaried/ | Self-employed |
Any Cibil Score/ Any Loan Amount | 11.75% | 13.00% |
- PNB Unnati home loan is an affordable PNB housing loan scheme for first time home owners.
- LTV is up to 90% of the market value of the property.
- Affordable EMI plans
- PNB Home Loan Maximum loan amount of Rs 35 lakh.
- Doorstep services for easing borrowing journey.
- Pan India branch network
- Any salaried, self-employed professional/ non-professional, individual with a Professional Degree/ Diploma/ Post Graduate Degree/ ITI and a minimum salary of Rs 10,000 per month can apply.
- The maximum age capping for a salaried borrower is placed at 70 years, and for a self-employed individual, it is 65 years.
PNB Pradhan Mantri Awas Yojana:
Pradhan Mantri AwasYojana (PMAY) is a credit-linked subsidy scheme for EWS (Economical Weaker Section), LIG (Lower Income Group), MIG (Middle Income Group). This scheme was announced by our honourable Prime Minister Sh. Narendra Modi. This scheme is meant for first time home buyers and comes with an interest subsidy of up to Rs 2.67 Lakh.
How to Calculate PNB Housing Finance Home Loan EMI?
You can use MyMoneyMantra Home Loan EMI Calculator for assessing the load of EMI for PNB Housing Finance Home Loan. It is the best tool for assessing Home Loan EMI. You can effortlessly estimate the cost of a home loan and plan your monthly budget accordingly.
Using EMI calculator is very easy. You can use MMM calculator as an instant PNB Housing Home Loan Calculator. Just enter the loan amount along with the time period of the loan and the rate of interest. EMI calculator gives you bifurcation of the entire loan tenure, which helps you plan your EMI and tax obligation accordingly.
PNB Housing Finance Home Loan EMI Calculation
Let’s use EMI Calculator and find out EMI for PNB Housing Loans with different combinations of Home Loan Amount and tenor. Below we have calculated EMI for Rs. 10 Lakh, 20 Lakh, 30 Lakh, 40 Lakh, 50 Lakh and 60 Lakh PNB Housing Finance Home Loans for 10, 20 & 30 years respectively.
| Loan Amount | 10 years | 20 years | 30 years |
|---|---|---|---|
| 10 lakh Home Loan EMI | Rs. 12,399 | Rs. 8,678 | Rs. 7,689 |
| 20 lakh Home Loan EMI | Rs. 24,797 | Rs. 17,356 | Rs. 15,378 |
| 30 lakh Home Loan EMI | Rs. 37,196 | Rs. 26,035 | Rs. 23,067 |
| 40 lakh Home Loan EMI | Rs. 49,594 | Rs. 34,713 | Rs. 30,757 |
| 50 lakh Home Loan EMI | Rs. 61,993 | Rs. 43,391 | Rs. 38,446 |
| 60 lakh Home Loan EMI | Rs. 74,391 | Rs. 52,069 | Rs. 46,135 |
*For purpose of EMI calculation, flat rate of Interest @ 8.50% p.a. is considered. The calculation is indicative only and will change as per effective rate of interest offered to you
Looking for Rs. 1 Crore Home Loan EMI? Check EMI & Apply Now.
PNB Housing Loan Eligibility Criteria
Salaried as well as self-employed residents as well as non-resident Indians can apply
Eligibility for PNB Housing Finance Home loan is assessed basis following criteria:
- Market value of the property
- Repayment capacity
- Personal details such as income, age, qualification & occupation
To improve the PNB housing loan eligibility income of borrowers and co-borrowers can be considered cumulatively.
Other PNB Housing Home loan eligibility requirements-
Borrower's age: 21 to 70 years
Loan amount: Subject to property value & repayment capacity.
PNB Housing Home Loan Documents Required
Here is a list of documentation required for PNB Housing Home Loans:
| Type of document | List of self-attested documents |
| Loan application |
|
| Age proof (any one) |
|
| Residence proof (any one) |
|
| Educational qualifications |
|
| Income proof | Salaried Individuals
Self-employed individuals
|
| Others | Processing fee cheque in favour of PNB HFL Photocopy of title documents of the property, Approved Plan etc. |
PNB Housing Finance Home Loan Processing Fees & Charges
Fees and charges associated with PNB Housing Finance Home Loan are:
| DESCRIPTION OF CHARGES | APPLICABLE CHARGES |
|---|---|
| Loan Processing Charges (Non-refundable) | Up to 0.50% of loan + applicable service tax |
| Foreclosure charges | Zero prepayment/ foreclosure charges |
Looking For 35 Lakh Home Loan EMI , Check EMI & Apply Online
PNB Housing Finance Customer Care
The customer care service at PNB Housing is very competent and responsive. Apart from the toll-free number, you can also drop your queries and complaints to their email id. Also, to check PNB housing finance Home loan status, you contact customer care.
Customer care executives can speak English and Hindi fluently. The toll-free number is active 24 x 7. If you have mailed your grievance, you should expect a reply or a call back within three working days.
Contact details:
PNB Housing Finance Ltd.
9th Floor, Antriksh Bhavan,
22 Kasturba Gandhi Marg,
Near Connaught Place,
New Delhi 110001
Phone Number: 1800 120 8800
Email Address: customercare@pnbhousing.com
CIN: L65922DL1988PLC033856
Trending Home Loans
Apply for Lowest Home Loan Online @ Rs. 769/Lakh* EMI
Apply for instant home loan online at Interest Rate starting from as low as 8.50% p.a. Pay EMI of just Rs. 769 per Lakh. Loan can be repaid in flexible tenure of up to 30 years. Apply now with minimal documentation. Check eligibility & get instant approval here.
PNB Housing Finance FAQs
✅ How do I get PNB Housing Finance Loan Statement?
You can get PNB home loan statement online. It is effortless & straightforward. Go to the online portal and log in with customer ID & password. Choose the 'Home loan provisional certificate' option under the enquiries tab. You can save, print or download the Housing finance statement as per the requirement.
✅ What is the maximum home loan amount I can borrow from PNB?
You can apply for PNB Housing Finance Home Loan up to 90% of the property value to purchase or construct a residential unit. The loan amount will vary as per your income, repayment capacity and market value of the property.
✅ How long does it take PNB Housing Home Loan to disburse?
As soon as the customer selects the property, applies for the loan and submits all required income & property documents , the processing for disbursement of the Home Loan begins. It will take 1-3 days. The property should be be technically and legally verifiable.
✅ Who is eligible for a PNB HFL Home Loan?
Eligibility for PNB Housing loan is determined on the basis of current income, continuity of business or employment, current obligations, credit history, CIBIL score, the value of the property, the legal position of the borrower and age of the borrower. Also, the borrower should be an Indian citizen or a person of Indian origin.
✅ What security do I need to provide for the PNB home loan?
The prime security for a home loan is by deposit of title deeds and/ or other collateral security as may be decided by PNB HFL. Also, the title of the property should be clear, marketable and free from any encumbrances.
✅ Is property insurance necessary?
Property insurance should be purchased to protect the property against unforeseen and unwanted events like earthquake, flood, fire or any man-made calamities for that matter.
✅ Can I get a home loan after purchasing a property?
Yes, you can get a home loan after purchasing a property at applicable loan rates. The property purchased should not be older than 6 months.
✅ A customer is not present in India. Can they still avail a PNB HFL home loan?
If a customer is posted abroad or not present in India at the time of application of loan and at the time of disbursement of loan amount, he/she can still avail the loan by appointing a power of attorney as per PNB HFL guidelines. The power of attorney holder can carry out the proceedings of the loan on behalf of the customer.
✅ How is a loan recalculated if an NRI becomes an Indian resident?
PNB reassesses the repayment capacity on the basis of resident status. Revised interest rate is calculated, and that new interest rate will be applicable on the outstanding loan amount.
✅ Can I deposit my PNB HFL fixed deposit as a security for PNB HFL home loan?
This facility is available at the discretion of PNB HFL. However, rate of interest on the home loan will be 2% higher than the rate of interest that the borrower is getting on the fixed deposit
✅ Is PNB and PNB Housing Finance same?
PNB Housing Finance Limited (PNB Housing) is promoted by Punjab National Bank (PNB). PNB Housing Finance is a registered Housing Finance Company (HFC) with National Housing Bank (NHB). Punjab National Bank (PNB), however is the public bank, governed under RBI. PNBHFL was incorporated under the Companies Act, 1956 and started its business operations on November 11, 1988.
