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Punjab National Bank Home Loan

Home Punjab National Bank Home Loan

Punjab National Bank offers home loans @ 7.90% p.a. onwards for tenures of up to 30 years. The bank offers home loan overdraft facility and various special home loan products for defence personnel, government employees and gen-next salaried individuals working with IT concerns or Government/PSUs upto the age of 40 years.

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हिंदी में पढ़े
Updated: 23-09-2022 06:57:11 AM
PNB Home Loan 2022 Highlights 
Interest Rate7.90% – 9.35% p.a.
Loan AmountAs per the borrower’s eligibility
TenureUp to 30 years
Processing Charges0.35% of loan amount (Rs 2,500 – Rs 15,000)

(NIL up to 30th September 2022)

Note: Rates as of 12th September 2022

Apply for PNB Home Loan at Attractive Interest Rates Click Here

Punjab National Bank Home Loan Interest Rates

Housing Loan

For Loan Amount of Rs 50 lakh and above (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride7.90%NA7.95%NA
750 and above7.90%8.00%7.95%8.05%
700-7498.10%8.20%8.15%8.25%
650-6998.20%8.30%8.25%8.35%
>=550-6498.70%8.80%8.75%8.85%

Apply for PNB Home Loan at Attractive Interest Rates Click Here

For Loan Amount of less than Rs 50 lakh (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride7.95%NA8.00%NA
750 and above7.95%8.05%8.00%8.10%
700-7498.15%8.25%8.20%8.30%
650-6998.25%8.35%8.30%8.40%
>=550-6498.75%8.85%8.80%8.90%

Apply for PNB Home Loan at Attractive Interest Rates Click Here

For Loan Amount of up to Rs 30 lakh (For LTV Ratio more than 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.25%NA8.30%NA
750 and above8.25%8.35%8.30%8.40%
700-7498.45%8.55%8.50%8.60%
650-6998.55%8.65%8.60%8.70%
>=550-6499.05%9.15%9.10%9.20%

Also Read: How a Step UP Credit Card helps in building/improving your credit score

PNB Max Saver (Term Loan Component)

For Loan Amount of Rs 50 lakh and above (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.05%NA8.10%NA
750 and above8.05%8.15%8.10%8.20%
700-7498.25%8.35%8.30%8.40%
650-6998.35%8.45%8.40%8.50%
>=550-6498.85%8.95%8.90%9.00%

Apply for PNB Home Loan with OD Facility at Low Interest Rates Click Here

For Loan Amount of less than Rs 50 lakh (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.10%NA8.15%NA
750 and above8.10%8.20%8.15%8.25%
700-7498.30%8.40%8.35%8.45%
650-6998.40%8.50%8.45%8.55%
>=550-6498.90%9.00%8.95%9.05%

For Loan Amount of up to Rs 30 lakh (For LTV Ratio more than 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.40%NA8.45%NA
750 and above8.40%8.50%8.45%8.55%
700-7498.60%8.70%8.65%8.75%
650-6998.70%8.80%8.75%8.85%
>=550-6499.20%9.30%9.25%9.35%

PNB Max Saver (Overdraft Component)

For Loan Amount of Rs 50 lakh and above (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.05%NA8.10%NA
750 and above8.05%8.15%8.10%8.20%
700-7498.25%8.35%8.30%8.40%
650-6998.35%8.45%8.40%8.50%
>=550-6498.85%8.95%8.90%9.00%

Apply for PNB Home Loan with OD Facility at Low Interest Rates Click Here

For Loan Amount of less than Rs 50 lakh (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.10%NA8.15%NA
750 and above8.10%8.20%8.15%8.25%
700-7498.30%8.40%8.35%8.45%
650-6998.40%8.50%8.45%8.55%
>=550-6498.90%9.00%8.95%9.05%

For Loan Amount of up to Rs 30 lakh (For LTV Ratio more than 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.40%NA8.45%NA
750 and above8.40%8.50%8.45%8.55%
700-7498.60%8.70%8.65%8.75%
650-6998.70%8.80%8.75%8.85%
>=550-6499.20%9.30%9.25%9.35%

Check the home loan interest rates of other banks and HFCs

PNB Home Loan EMI Calculator

Home Loan EMI Calculator
₹
%
Year(s)
Home Loan EMI Calculator

Monthly EMI ₹ 15,622

Total Amount Payble ₹ 5,62,395(Principal + interest)

Principal Amount ₹ 5,00,000

Total Interest Payble ₹ 62,395

Apply for PNB Home Loan at Attractive Interest Rates Click Here

Compare PNB Home Loan Interest Rates vs Other Lenders
Punjab National Bank Home Loan Fees and Charges
Types of Punjab National Bank Home Loan
Eligibility Criteria for Punjab National Bank Home Loan
PNB Home Loan Documents Required
FAQs

Compare PNB Home Loan Interest Rates vs Other Lenders

Interest Rates (% p.a.)
Name of LenderUp to Rs 30 LakhAbove Rs 30 Lakh & up to Rs 75 LakhAbove Rs 75 Lakh
Punjab National Bank7.95 – 9.357.90- 9.057.90 – 9.00
State Bank of India8.05-9.058.05-8.958.05-8.95
HDFC8.10-9.508.35-9.758.45-9.85
ICICI Bank8.10-9.008.10-9.008.10–9.10
Kotak Mahindra Bank7.99 onwards7.99 onwards7.99 onwards
PNB Housing Finance7.99-12.507.99-12.508.10-11.20
Bank of Baroda7.95-9.457.95-9.457.95-9.70
Union Bank of India7.90 – 9.657.90 – 9.857.90 – 9.85
IDFC First Bank7.95 onwards7.95 onwards7.95 onwards
L&T Housing Finance7.70-8.707.70-8.707.70-8.70
Bajaj Housing Finance7.70 onwards7.70 onwards7.70 onwards
Godrej Housing Finance7.54-10.997.54-10.997.54-10.99
Tata Capital8.10 onwards8.10 onwards8.10 onwards
LIC Housing Finance8.00-9.508.00-9.708.00-9.90
Federal Bank9.05-9.107.77-9.157.77- 9.20

Compare Home Loan Schemes Offered by Top Lenders Compare Now

Punjab National Bank Home Loan Fees and Charges

Fees and Charges of PNB Home Loan

Processing Fee0.35% of loan amount (Rs 2,500-Rs 15,000)

(NIL up to 30th September 2022)

Documentation ChargesRs 1,350

Pradhan Mantri Awas Yojna

Processing FeeUp to Rs 6 lakh- NIL
Up to Rs 9 lakh in MIG 1- NIL
Up to Rs 12 lakh in MIG 2- NIL
Documentation ChargesNIL

PNB Max Saver

In case the customer has paid upfront fees and documentation charges at the time of availing housing loanOne time charge of Rs 2,500
In case the customer has not paid upfront fees and documentation charges at the time of availing housing loanCharges as per housing loan

PNB Pride

Processing FeeNIL
Documentation ChargesNIL

Know more about the home loan processing fees of top lenders

Apply for PNB Home Loan at Attractive Interest Rates Click Here

Types of Punjab National Bank Home Loan

Housing Loan for Public

This is the Regular Home Loan scheme from PNB, which can be used for following purposes:

  • For financing house/flat construction and for built up house/flat purchase,
  • For funding addition/repair/renovation/alterations/furnishing cost to existing home,
  • For purchasing house/flat under construction from housing boards/co-operative societies/development authorities/projects/approved private builders,
  • For purchasing plot/land for construction of house,
  • For meeting cost escalation in under construction flats to existing housing loan borrowers

Loan Amount:

  • For Plot/land purchase for house construction: Up to Rs 50 lakh
  • For repair/renovation/alteration: Up to Rs 25 lakh
  • For addition/construction/purchase of house or flat: Need based loan depending upon the cost of the project and repaying capacity of the home loan borrower
  • Furnishing Cost: Included in the project cost with maximum up to 10% of housing loan with up to Rs 25 lakh

Tenure:

  • For repair/renovation/alteration of house/flat- Up to 15 years
  • For Others- Up to 30 years

LTV Ratio:

Home Loan (All variants) above Rs 75 lakh, CIC Score of 750 and above- 20%
Top-up Home Loan (CIC Score of 750 and above)/Term Loan/Overdraft- 20%

Apply for PNB Home Loan at Attractive Interest Rates Click Here

PNB Max Saver

  • Purpose: For all purposes as under housing finance scheme except for purchase of land/plot only with overdraft facility
  • Loan Amount: Rs 10 lakh onwards

PNB Pride Housing Loan for Government Employees

Purpose: This home loan scheme can be availed by permanent employees of State/Central Government/Defence Personnel/Paramilitary forces for the following purposes:

  • house/flat construction, for built house/flat purchase,
  • purchase of house/flat under construction from housing boards/co-operative societies/development authorities/projects/approved private builders,
  • purchase of plot/land for construction of house,
  • For making additions to existing home, repair purposes, carrying out renovation in existing home, and making alterations and furnishing the existing home property
  • meeting cost escalation in under construction flats to existing housing loan borrowers

Loan Amount:

  • For Plot/land purchase for house construction: Up to Rs 50 lakh
  • For addition/construction/purchase of house or flat: Need based loan depending upon the cost of the project and repaying capacity of the home loan borrower
  • For repair/renovation/alteration: Up to Rs 25 lakh
  • Furnishing Cost: Included in the project cost with maximum up to 10% of housing loan with up to Rs 25 lakh

Tenure:

  • For repair/renovation/alteration of house/flat- Up to 15 years
  • For Others- Up to 30 years

LTV Ratio:

Home Loan (All variants) above Rs 75 lakh, CIC Score 750 and above- 20%

Top-up Home Loan (CIC Score 750 and above)/Term Loan/Overdraft- 20%

Apply for PNB Home Loan at Attractive Interest Rates Click Here

Pradhan Mantri Awas Yojna

  • Purpose: For construction/purchase/additions of rooms, kitchen, etc.to existing home as incremental housing for house/flat construction with interest subsidy @ 6.5% to Economically Weaker Sections with annual income of up to Rs 3 lakh and Low Income Groups with annual income between Rs 3 lakh-Rs 6 lakh
  • Loan Amount: Up to Rs 30 lakh
  • Interest Subsidy: 5% for loan amount of up to Rs 6 lakh for tenure of up to 20 years
  • Tenure: Up to 30 years or 70 years of age

PNB Gen-Next Housing Finance Scheme for Public

  • Purpose: For construction of flat/house, for purchase of under construction flat of approved private builder, for purchase of ready to move in flat/house, etc. to gen-next salaried class borrowers including employees of PSBs/PSUs/Government sectors and IT professionals aged up to 40 years.
  • Loan Amount: Rs 20 lakh onwards
  • Tenure: Up to 30 years

Eligibility Criteria for Punjab National Bank Home Loan

Housing Loan for Public

For individuals or group of individuals with regular income source such as salaried employees, professionals, businessman, farmers, self-employed persons

PNB Pride Housing Loan for Government Employees

For permanent employees of Central/State Government/Paramilitary forces/Defense Personnel

For PNB Gen-Next Housing Finance Scheme for Public

  • Age: Up to 40 years
  • Minimum Monthly Salary: Rs 35,000
  • All salaried employees with at least 3 years of experience

Apply for PNB Home Loan at Attractive Interest Rates Click Here

Pradhan Mantri Awas Yojna

Individuals from Economically Weaker Sections and Low Income Groups (joint owners from same family are also eligible)

Note that, Punjab National Bank may also consider the credit score of its home loan applicants, just like many home loan lenders do while evaluating the home loan eligibility of their applicants.

Check home loan eligibility of top 10 banks and HFCs

PNB Home Loan Documents Required

PNB Home Loan Documents for Salaried:

  • Duly filled in home loan application form along with a photograph
  • Proof of Identity such as Aadhaar Card, PAN Card, Passport, Driving License and Voter’s ID Card
  • Proof of Residence such as Aadhaar Card, Passport, Driving License and Voter’s ID Card
  • Proof of Age such as Aadhaar Card, PAN Card, Passport, Birth Certificate, Driving License and Voter’s ID Card
  • Proof of Educational Qualification
  • Proof of Income: Salary certificate issued by the employer (indicating gross and net salary)/Income Tax Return
  • Bank Statement of salary account of past six month

PNB Home Loan Documents for Self Employed:

  • Duly filled in home loan application form along with a photograph
  • Proof of Identity such as Aadhaar Card, PAN Card, Passport, Driving License and Voter’s ID Card
  • Proof of Residence such as Aadhaar Card, Passport, Driving License and Voter’s ID Card
  • Proof of Age such as Aadhaar Card, PAN Card, Passport, Birth Certificate, Driving License and Voter’s ID Card
  • Proof of Educational Qualification
  • Proof of Income for Agriculturist: Record of landholding & cropping pattern or any other proof of income
  • Proof of Income for Other Self Employed: Last 3 years’ Income Tax Return or Assessment Order & Computation of Income Statement
  • Bank Statement of account for the last six months

Additional documents:

  • Income proof of spouse/earning children/joint borrowers (if applicable)
  • Property documents as required

Know more about the Documents Required for home loans

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FAQs

1. Can I choose between fixed and floating rates of interest?
Ans. Punjab National Bank offers home loans at floating rates only.

2. Does PNB consider the income of the co-applicants while applying for home loans?
Ans. Yes, PNB considers the income of the co-applicants for determining the repayment capacity while applying for home loan.

3. Who can be the co-applicants to PNB Home Loan borrowers?
Ans. Punjab National Bank allows spouse and earning children (both married and unmarried) to be the co-applicants to home loan borrowers. Parents can also be the co-applicants in cases where the property is singly or jointly owned by son and daughter. Also clubbing their income can be permitted for eligibility or loan repayment purposes.

4. What is the minimum credit score required to avail PNB Home Loans?
Ans. PNB has not specified any cut-off credit score for home loan applicants. However, the applicants with credit scores of 750 and above usually have higher chances of availing home loans.

5. Does PNB offer preferential interest rates to home loan applicants having higher credit scores?
Ans. Yes, PNB offers lower interest rates to home loan applicants having higher credit score. The For example, the lowest home loan interest rates are offered to applicants having credit scores of 750 and above, followed by those having credit scores of 700-749, 650-699 and 550-649.

Click Here:- To know more about CIBIL Score Requirement for Home Loans

6. What is the moratorium period for PNB Housing Loans?
Ans. For home loans availed for home construction/addition of house/flat, the moratorium period can go up to 18 months from the date of disbursement of first loan instalment or till the completion of construction/addition, whichever is earlier. In case of home loans availed for carrying out repair/renovation/alterations of house or flat, the moratorium period can extend up to 6 months from the date when the first loan instalment was disbursed or until the completion of repair/alterations/renovation, whichever is earlier. For the purchase of already constructed house/flat or plot, the moratorium period can go up to 3 months from the date of loan disbursal or till the date of possession, whichever is earlier.

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