PNB Housing offers loans at affordable rates for customers who wish to buy their own home or piece of land. The loan can also be availed for facilities such as the purchase of a home, renovation, furnishings and repairs. These loans are given at an interest rate of 8.70%-12% for a period of up to 30 years. These have to be paid back through Equated Monthly Instalments (EMIs) till the entire loan has been paid back.
The applicants can apply for a loan for a specified period according to their requirements. Then, they can plan the repayment accordingly. It must be noted that loans taken for a long duration have a much higher interest when compared with shorter duration loans as the interest adds up. Therefore, it is best to try out all combinations through the EMI calculator to ascertain the best loan option possible.