PNB Home Loan Eligibility Calculator India Apr 2017

PNB Home Loan Eligibility Criteria

Last Updated 20th Apr 2017
Eligibility Conditions SalariedSelf Employed
Age 21 to 60 years 21 to 65 years
Maximum Loan Amount Rs. 10,000,000 Rs. 10,000,000
Maximum LTV 80% 80%
Minimum Work Experience 2 Years 5 Years
Rate of Interest - linked to 1 Year MCLR 8.5% 8.5%
EMI Per Lakh Rs. 769 Rs. 769
Home Loan Eligibility Calculator
 Salaried   Self Employed - Professional   Self Employed - Business 
Your Contact Information
Number of Co-Borrowers?  0  1  2 
I authorize MyLoanCare, its partners to contact me. This over rides my number being in NDNC registry

PNB home loan eligibility based on age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. To be eligible for PNB home loan, you must be at least 21 years of age at the time of loan commencement. PNB offers home loans for a maximum period of 30 subject to the condition that the borrower’s age at the end of the tenure must not exceed 30 years for salaried borrowers and 30 years for self employed borrowers. The maximum tenure of loan that you may be eligible for will be as follows:
  • Your current age Max tenure for salaried Max tenure for self employed
    25 years 30 years 30 years
    30 years 30 years 30 years
    35 years 25 years 30 years
    40 years 20 years 25 years
    45 years 15 years 20 years
    50 years 10 years 15 years

    PNB home loan eligibility based on income

  • Net Income: Your net monthly income (take home salary after all deductions like PF, ESI, gratuity) determines your home loan servicing capacity. It determines how much home loan EMI you are capable of paying after meeting living expenses based on your standard of living. For instance, if your net monthly income is Rs 70,000 and the value of house you are buying is Rs. 50 lakh, then at 8.5 % interest rate offered by PNB, the maximum loan amount that you will be eligible for (assuming you have no other EMI’s to pay) would be as follows:
  • Age Net Monthly Income (Rs.)
    50,000 75,000 100,000
    25 years 4,285,856 6,428,784 8,571,712
    30 years 4,285,856 6,428,784 8,571,712
    35 years 4,087,310 6,130,965 8,174,621
    40 years 3,786,321 5,679,482 7,572,642
    45 years 3,330,031 4,995,047 6,660,063
    50 years 2,638,311 3,957,466 5,276,621
    You may consider repaying any loans with short tenure and high EMI in order to increase your home loan eligibility.
  • Nature of Employment: PNB will check whether you are salaried or self employed an the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. PNB requires minimum income history and job stability of more than 2 years for salaried individuals and of 5 years for self employed individuals.
  • PNB home loan eligibility based on value of property

  • Value of property: PNB will not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
  • Property Value LTV
    Less than 30 lakh 90%
    Between 30 lakh and 75 lakh 80%
    Above 75 lakh 75%
  • Co-applicant: Adding a co-applicant increases your eligibility for home loan as it increases your repayment capacity. The co-borrower you add should have good income, low obligation and clean CIBIL record.
  • CIBIL Score: When checking eligibility for home loan, PNB will look at the complete CIBIL report. PNB will check your repayment history for all current and past loans and credit cards.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the bank’s legal team.
PNB Home Loan Eligibility Calculator News - Apr 2017
23rd Mar 17 New subsidy scheme on home loans to bring down EMI by Rs. 2,000
Prominent banks including ICICI, SBI etc and leading housing finance companies such as PNB and HDFC Ltd have signed memorandum of association (MoU) with National Housing Bank for the implementation of new interest subsidy scheme for home loans under PM Awas Yojna (PMAY). As per new scheme, home loan borrowers is likely to see a decline of Rs. 2,000 in home loan EMIs for the home purchased under PM Awas Yojna and if their annual household income is up to Rs. 18 lakh. Under the new subsidy scheme, government will offer an interest subsidy of up to 4 percent on loans of up to Rs. 9 lakh and above to the middle class borrowers of urban areas.
07th Mar 17 PNB likely to sell 7 percent stake in PNB Housing Finance
Punjab National Bank is planning to sell its 7 percent stake in PNB Housing Finance. As per sources, the bank is likely to raise Rs. 1,200 crore from the deal. PNB currently holds 39 percent stake in PNB Housing Finance.
09th Feb 17 PNB plans to sell its stake in PNB housing finance and PNB Gilts
Punjab National Bank is planning to sell its stake in PNB Housing Finance and PNB Gilts in FY18. The bank expects to increase its capital base via selling. PNB holds stake in various entities such as UTI, PNB Housing Finance and PNB Gilts.
11th Oct 16 PNB makes home, auto loans attractive for government staff
PNB has launched a new scheme named PNB Pride for government employees. Under this scheme, the bank will offer home loans at an interest rate of 9.3 to 9.8 per cent and auto loans at 9.55 per cent effective from October 1, 2016. PNB will also offer loans without any processing fee and documentation charges.
01st Oct 16 PNB revises lending rates
Punjab National Bank has revised its Marginal Cost based Lending Rates by 5 basis points effective from October 1. The overnight, 1 month, 3 month, 6 month, 1 year, 3 year, 5 year MCLR has reduced by 5 bps to 9.05, 9.10, 9.20, 9.25, 9.30, 9.45, 9.60 percent. For borrowers who have taken a home loan from PNB after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo.
*My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.