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PNB Home Loan Eligibility Calculator

PNB Home Loan Eligibility in India 2021

Last Updated 11th Jun 2021

Eligibility CriteriaPNB Home Loan
Eligible Age of Borrower21 - 60 years
Work Experience for Salaried2 years
Business Stability for Self Employed5 years
  • PNB home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • PNB calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from PNB by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

PNB Home Loan Eligibility

PNB offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. PNB housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

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. The minimum age limit to get PNB home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. PNB offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

PNB Home Loan Eligibility based on Salary

  • Net income: Your net monthly income determines how much PNB home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 6.75% offered by PNB, the loan amount that you will be eligible for would be ₹ 27,80,558 to ₹ 48,11,915 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 55,61,115 to ₹ 96,23,830 for the same property at the same rate depending on your age at the time of loan application. However, PNB asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years48.12 Lakh72.18 Lakh96.24 Lakh
30 years48.12 Lakh72.18 Lakh96.24 Lakh
35 years45.37 Lakh68.05 Lakh90.73 Lakh
40 years41.44 Lakh62.16 Lakh82.87 Lakh
45 years35.82 Lakh53.73 Lakh71.65 Lakh
50 years27.81 Lakh41.71 Lakh55.61 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your PNB home loan eligibility.

  • Nature of employment: PNB will check whether you are salaried or self-employed and 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.

Home Loan Eligibility PNB based on Value of Property

  • Value of property: PNB does 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 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the PNB's legal team.

The housing loan eligibility calculator of PNB can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for PNB Home Loan

  • CIBIL Score: PNB considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from PNB However, low CIBIL score reduces your chances to get a home loan. PNB requires a minimum credit score of 650 to be eligible for a home loan.

PNB Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by PNB to determine your home loan eligibility. PNB considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for PNB home loan is 0.65. Calculate your eligibility with PNB home loan calculator and apply for eligible loan amount hassle free.

PNB Home Loan for Women Eligibility

In the case of sole woman applicant, PNB offers a concessional home loan rate of 7.15% for women borrowers, although the eligibility criteria is the same for them. In case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

How can I Check my PNB Home Loan Eligibility ?

To check PNB home loan eligibility perform the following steps:-

  • Go to the PNB website
  • Now navigate to the option PNB home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also you can contact the bank by calling on their customer care number 1800-180-2222/ 1800-103-2222.

PNB Home Loan Schemes Eligibility

Repo Rate Linked Home Loan

  • Salaried and Self-employed individuals, with a monthly income of ₹ 25,000, and more.

Other Loan Calculators

FAQs

What is the criteria to get PNB home loan?

The basic criteria to get a home loan from PNB are as following:

Age21 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from PNB?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from PNB?

The minimum salary required to avail home loan from PNB is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in PNB.

Is PNB good for home loan?

The lowest interest rate provided by PNB is 7.15% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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PNB Home Loan News - Jun 2021
  • 2021-02-08 : PNB reported net profit of 506 crores
    PNB posted an 18.5% year-on-year decline in its net profit to Rs 506 crore for the quarter ended December. Further, the bank reported net interest income on the back of retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans at Rs 8,313 crore.
  • 2020-12-29 : PNB completes IT integration of all branches of two merged entities
    Punjab National Bank clarified that the customers of the former OBC Bank are now migrated to CBS of PNB wherein they can transact seamlessly via existing branches and digital banking channels like internet banking and mobile banking. The amalgamation of PNB, United Bank of India and OBC has come into effect from April 1, this year. The merger created the second-largest nationalized bank in terms of business and total branches.
  • 2020-12-02 : PNB launched loan management solution to speed up delivery
    Punjab National Bank launched a tech-based loan management solution called LenS-The Lending Solution. It is aimed at speeding up and maintaining accuracy in online loan processing and sanctioning of credit proposals. It will be implemented in a phased manner for all kinds of loans including MSME, agriculture, retail and other credit.
  • 2020-11-03 : PNB reported an 18% decline in Q2 net profit
    PNB posted a 22% increase in net profit to Rs 621 crore in the second quarter against Rs 507 crore in the year-ago period. Bank net interest income rose to Rs 8,393 crore and the bank’s net interest margin improved to 3.21% for the quarter ended September. Further, PNB’s total income backed by retail loans like home, personal, gold, two-wheeler and car loans along with mudra and business loans stood at Rs 23,439.
  • 2020-08-25 : PNB to offer one-time loan restructuring option
    Punjab National Bank is planning to provide a one-time loan restructuring window to corporate and retail loans like home, personal, gold, two-wheeler, car, along with business and mudra loans. The plan is to assist customers whose income has decreased due to COVID-19 pandemic and subsequent lockdown.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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