PNB Housing Finance - Apply PNB Housing Loan @ 8.50% Interest Rate -23rd December 2024

Q: Why Choose PNB Housing Finance for Your Home Loan?

PNB Housing Loan interest rates start from just 8.50% p.a. Flexible loan amounts up to 90% of property value. Availability of PNB House Balance Transfer facility. Long repayment tenure of up to 30 years. Floating as well as fixed interest rates. Customised loans for home construction, purchase renovation, and extension.

Q: What are the interest rates for PNB Housing Home Loans?

The interest rates for PNB Housing Home Loans range from 8.50% to 11.45% p.a.

Q: What is the maximum home loan amount I can borrow from PNB?

You can borrow up to 90% of your property’s value as PNB Housing home loan amount.

Q: How much EMI for 20 lakh home loan?

The 20 lakh home loan EMI may vary depending on the tenure and interest rate on the loan. For instance, the EMI for a 20 lakh home loan for 8.50% p.a. interest rate and 30 years tenure will be 15,378, whereas the EMI for the same loan amount and tenure for 8.80% p.a. interest rate will be 15,805. Hence, it is important to use the Home Loan EMI Calculator tool to understand your EMI better.

Q: Which bank gives the lowest interest rate for a home loan?

Currently, the Bank of Maharashtra, Bank of India, Union Bank of India, and Central Bank of India UCO Bank offer the lowest home loan interest rates starting from just 8.35% p.a.

Q: Can I prepay or foreclose my PNB Housing Home Loan?

Yes, you can prepay or foreclose your PNB Housing home loan account. The following charges will be levied for the same: Part/ full prepayment charges (floating interest rate) Nil if the property is in the name of the individual & 2% of principal paid + GST if the property is in the name of the non-individual entity Part/ full prepayment charges (fixed interest rate) Nil, if the property is in the name of the individual & payment is made from own sources; 3% of principal prepaid + GST, if the property is in the name of the individual & payment is made by/from a third party/ if the property is in the name of non-individual entity

Q: What is the tenure of PNB home loan?

The borrowed amount can be repaid within a maximum tenure of up to 30 years or until the borrower turns 70 years of age.

Q: Can I get a home loan without income proof?

Yes, you can get a home loan without income proof. Here are some things to consider: Apply for a home loan with a co-applicant who has the required income proof and ITR documents. Consider a no-documentation mortgage or no-income verification loan option. It allows you to declare your income on the loan application without providing a plethora of supporting documents. Consider providing other income-related documents like salary slips, bank statements, or Form 16 to show your income. Some financial institutions are more flexible in accommodating diverse financial customer profiles than banks. You can speak to your banking relationship manager to get assistance with the loan application process.

Q: Can I transfer my existing home loan to PNB Housing?

Yes, you can transfer your existing housing loan to PNB Housing Finance to get the benefit of a low interest rate.

Q: Does PNB Housing Finance offer loan against property?

Yes, you can apply for a PNB Housing loan against property.

PNB Housing Finance Home Loan Highlights

The key features of PNB Housing Finance home loan are mentioned in the table below:

Loan amount	Rs. 8 Lakhs to 90 % of the property cost
Rate of interest	Starts at 8.50% p.a. for salaried & 8.80% p.a. for self-employed
Tenure	Up to 30 years or up to the borrower’s age of 70
Lowest EMI possible	Rs. 769 Per Lakh
Processing fee	Up to 1% of the loan amount + GST
Prepayment charges	Up to 2% of principal paid + GST for fixed interest rate loan & up to 3% principal paid + GST for floating interest rate loan
Required CIBIL score	Minimum 611
Monthly income	Rs. 15,000 or above

PNB Housing Loan Interest Rate

PNB Housing Finance home loans are available at floating rates and vary as per the borrower's credit score. The PNB Housing loan interest rates are linked to its benchmark rate PNBHFR.

The current rate of interest for PNB Housing is as below:

Interest rates for home loans up to Rs. 35 Lakhs

Credit Score	Salaried	Non-Salaried
>=825	8.5% to 9%	8.8% to 9.3%
>800 to 825	8.8% - 9.3%	8.95% - 9.45%
>775 to 799	9.1% - 9.6%	9.65% - 10.15%
>750 to <=775	9.25% - 9.75%	9.8% - 10.3%
>725 to < =750	9.55% - 10.05%	10.25% - 10.75%
>700 to <= 725	9.85% - 10.35%	10.55% - 11.05%
>650 to <=700	10.25% - 10.75%	10.75% - 11.25%
Up to 650	10.25% - 10.75%	10.75% - 11.25%
New to credit (NTC) CIBIL >=170	10.25% - 10.75%	10.65% - 11.15%
NTC CIBIL <170	10.15% - 10.65%	10.55% - 11.05%

Interest rates for home loans above Rs. 35 Lakhs

Credit Score	Salaried	Non-Salaried
>=825	8.5% to 9%	8.8% to 9.3%
>800 to 825	8.8% - 9.3%	8.95% - 9.45%
>775 to 799	9.2% - 9.7%	9.8% - 10.3%
>750 to <=775	9.35% - 9.85%	10.15% - 10.65%
>725 to < =750	9.7% - 10.2%	10.3% - 10.8%
>700 to <= 725	10.05% - 10.55%	10.75% - 11.25%
>650 to <=700	10.45% - 10.95%	10.95% - 11.45%
Up to 650	10.45% - 10.95%	10.95% - 11.45%
NTC CIBIL >=170	10.45% - 10.95%	10.85% - 11.35%
NTC CIBIL <170	10.35% - 10.85%	10.75% - 11.25%

Interest rates for other home loans

Roshni home loan	10.5% to 14.25% p.a. for salaried employees & 11.50% to 14.50% p.a. for self-employed
Fixed rate for home loan	14.75% p.a.

PNB Housing Home Loan Comparison with Other Lenders

Below is the comparison table of PNB Housing home loan interest rates with some other top lenders:

Bank/NBFC	Rate of Interest
PNB Housing Finance Ltd.	8.50% to 11.45% p.a.
South Indian Bank	8.70% to 11.70% p.a.
State Bank of India	8.50% to 9.65% p.a.
Bajaj Finserv	8.50% p.a.
Kotak Mahindra Bank	8.75% p.a. onwards
HDFC Bank	8.75% to 9.95% p.a.
IDFC First Bank	8.85% p.a. onwards
Axis Bank	8.75% to 12.85% p.a.
ICICI Bank	8.75% p.a. onwards
Tata Capital	8.75% p.a. onwards
Federal Bank	8.80% p.a. onwards

PNB Housing Finance Home Loan Processing Fee & Charges

Processing fee	1% of the loan amount + GST
Part/ full prepayment charges (floating interest rate)	Nil if the property is in the name of the individual & 2% of principal paid + GST if the property is in the name of the non-individual entity
Part/ full prepayment charges (fixed interest rate)	Nil, if the property is in the name of the individual & payment is made from own sources; 3% of principal prepaid + GST, if the property is in the name of the individual & payment is made by/from a third party/ if the property is in the name of non-individual entity
Cheque/ NACH mandate form return/ bounce charges	Rs. 750 + GST on 1st bounce & Rs. 1,000 + GST from 2nd bounce
Overdue charges	24% p.a on unpaid EMI for the delayed period
Statement of account	Rs. 500 + GST (if ad hoc request received at branch/on e-mail)
Repayment schedule fee	Rs. 500 + GST (if ad hoc request received at branch/on e-mail)
List of documents fee	Nil if requested within 6 months from 1st disbursement & Rs. 750 + GST after that (if the request is received at branch/ on e-mail)
Loan pre-closure statement	Rs. 750 + GST
Provisional interest certificate	Rs. 500 + GST per instance after 2 provisional & 1 final interest sent through e-mail every year
Final interest paid certificate	Rs. 500 + GST per instance after 2 provisional & 1 final interest sent through e-mail every year
Copy of property documents	Rs. 500 + GST if received through an e-mail, Rs. 1,000 + GST for printed copies & Rs. 1,500 + GST, for more than 50 pages
Swap of repayment instructions	Rs. 750 + GST (for physical PDC/NACH mode)
Change of ROI from fixed to floating & from fixed/floating to fixed	3% of POS + GST
Change of ROI from floating to floating (reduction in rate)	0.5% of POS + GST
Swap of property fee	Rs. 25,000 + GST
Cash/single cheque EMI payment fee	Rs. 1,000 + GST
Custody charges (for property documents not taken back after loan maturity/ foreclosure)	Rs. 1,000 + GST p.m. (after 1 month of loan closure/ maturity)
Original property documents retrieval on request	Rs. 1,000 + GST
CERSAI fees	Rs. 100 + GST for loans disbursed after January 31, 2016 & Rs. 500 + GST for loans disbursed before that
CERSAI validation fees	Rs. 50 + GST
MODT/ registration of charge creation/ cancellation	Rs. 500 + GST
Non-submission of documents related to loan condition/ security	Rs. 1,000 p.m.
Title search fees	As per actual
Legal fee for loan appraisal	As per actual
Legal recovery fees	As per actual

PNB Housing Finance Home Loan Eligibility

Anyone who meets the following PNB Housing home loan eligibility criteria can apply for the home loan at PNB Housing:

PNB Housing home loan eligibility criteria for salaried employees

Age: The applicant must be above the age of 21 years at the time of loan application and should not exceed 70 years at the time of loan maturity.
Residency: The applicant should be a permanent resident of India.
Work experience: The applicant should have a minimum work experience of 3 years.
Occupation: The applicant should be working in permanent service at a reputed company.
Salary: The minimum salary required for a PNB Housing home loan is Rs. 15,000 per month or above.
LTV: Up to 90% of the property’s cost.
Credit Score: Minimum 611.

PNB Housing home loan eligibility criteria for self-employed/ business owners

Age: The applicant must be above the age of 21 years at the time of loan application and should not exceed 70 years at the time of loan maturity.
Residency: The applicant should be a permanent resident of India.
Work experience: The applicant should have at least 3 years of business continuity.
Occupation: The applicant should be a self-employed professional (such as a doctor/ engineer/ chartered accountant/ architect/ management consultant/ etc.) or a self-employed individual (such as an entrepreneur/ businessman/ freelancer).
LTV: Up to 90% of the property’s cost.
Credit Score: Minimum 611.
Additional: The applicant must apply for income tax returns.

How to Calculate PNB Housing Finance Home Loan EMI?

You can easily calculate your PNG Housing Finance home loan EMI using an online tool called Home Loan EMI Calculator. PNB Housing home loan Calculator is also available on our website. To calculate your loan EMI using the calculator, you just need to enter a few basic details i.e. the loan amount, rate of interest, and loan tenure. This calculator provides the amortisation schedule for the entire tenure of the home loan.

PNB Housing Home Loan Document Required

PNB Housing home loan documents required for salaried employees

Application form: Duly filled and signed loan application form
Address proof: Aadhar Card/ Passport/ Driving License/ Telephone Bill/ Ration Card/ Election Card/ Any other certificate from Statutory Authority
Age proof: PAN Card/ Passport/ Any other certificate from Statutory Authority
Income proof: Salary slips for the last 3 months

PNB Housing home loan documents required for self-employed

Application form: Duly filled and signed loan application form
Address proof: Aadhar Card/ Passport/ Driving License/ Telephone Bill/ Ration Card/ Election Card/ Any other certificate from Statutory Authority
Age proof: PAN Card/ Passport/ Any other certificate from Statutory Authority
Income proof: Income proof for business and ITR

Property documents for developer property (direct Allotment from the developer)

Allotment letter
Builder buyer agreement
Payment receipt
Permission to mortgage from the respective authority
Regulatory guidelines

Property documents for Resale Property

Agreement to sell
All prior deeds from the property’s first allotment
Sale deed/ Conveyance deed in favour of the seller
Approved map of the property
Possession certificate & land tax receipt from relevant authorities
No Objection Certificate provided by the builder/ society

Flexible repayment tenure up to 30 years
Attractive rate of interest, calculated on daily reducing balance

PNB Housing Finance FAQs

Why Choose PNB Housing Finance for Your Home Loan?

PNB Housing Loan interest rates start from just 8.50% p.a.
Flexible loan amounts up to 90% of property value.
Availability of PNB House Balance Transfer facility.
Long repayment tenure of up to 30 years.
Floating as well as fixed interest rates.
Customised loans for home construction, purchase renovation, and extension.

What are the interest rates for PNB Housing Home Loans?

The interest rates for PNB Housing Home Loans range from 8.50% to 11.45% p.a.

What is the maximum home loan amount I can borrow from PNB?

You can borrow up to 90% of your property’s value as PNB Housing home loan amount.

How much EMI for 20 lakh home loan?

The 20 lakh home loan EMI may vary depending on the tenure and interest rate on the loan. For instance, the EMI for a 20 lakh home loan for 8.50% p.a. interest rate and 30 years tenure will be 15,378, whereas the EMI for the same loan amount and tenure for 8.80% p.a. interest rate will be 15,805. Hence, it is important to use the Home Loan EMI Calculator tool to understand your EMI better.

Which bank gives the lowest interest rate for a home loan?

Currently, the Bank of Maharashtra, Bank of India, Union Bank of India, and Central Bank of India UCO Bank offer the lowest home loan interest rates starting from just 8.35% p.a.

Can I prepay or foreclose my PNB Housing Home Loan?

Yes, you can prepay or foreclose your PNB Housing home loan account. The following charges will be levied for the same:

Part/ full prepayment charges (floating interest rate)	Nil if the property is in the name of the individual & 2% of principal paid + GST if the property is in the name of the non-individual entity
Part/ full prepayment charges (fixed interest rate)	Nil, if the property is in the name of the individual & payment is made from own sources; 3% of principal prepaid + GST, if the property is in the name of the individual & payment is made by/from a third party/ if the property is in the name of non-individual entity

What is the tenure of PNB home loan?

The borrowed amount can be repaid within a maximum tenure of up to 30 years or until the borrower turns 70 years of age.

Can I get a home loan without income proof?

Yes, you can get a home loan without income proof. Here are some things to consider:

Apply for a home loan with a co-applicant who has the required income proof and ITR documents.
Consider a no-documentation mortgage or no-income verification loan option. It allows you to declare your income on the loan application without providing a plethora of supporting documents.
Consider providing other income-related documents like salary slips, bank statements, or Form 16 to show your income.
Some financial institutions are more flexible in accommodating diverse financial customer profiles than banks.
You can speak to your banking relationship manager to get assistance with the loan application process.

Can I transfer my existing home loan to PNB Housing?

Yes, you can transfer your existing housing loan to PNB Housing Finance to get the benefit of a low interest rate.

Does PNB Housing Finance offer loan against property?

Yes, you can apply for a PNB Housing loan against property.

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