PNB Home Loan EMI Calculator
PNB Home Loan Calculator
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PNB Housing Loan EMI Calculator
PNB Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure, and interest rate. You can calculate your PNB housing loan EMI in advance to plan your loan payments and expenses using a PNB home loan calculator. PNB home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.
Why Should You Use PNB Home Loan EMI Calculator?
How to Calculate EMI for Home Loan in PNB?
To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the PNB Home Loan EMI calculator. The below-mentioned table shows the calculation of PNB Home Loan at the various combinations of loan amount and years at the lowest rate of 6.75%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right PNB Home loan plan for you.
To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the PNB Home Loan EMI calculator. The below-mentioned table shows the calculation of PNB Home Loan at the various combinations of loan amount and years at the lowest rate of 6.75%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right PNB Home loan plan for you.
PNB home loan EMI is calculated for different loan amounts and tenures at 6.75% interest rate| Loan Tenure | |||
|---|---|---|---|
| Loan Amount (Rs.) | 15 years | 20 years | 30 years |
| ₹ 25 Lakh | ₹ 22,123 | ₹ 19,009 | ₹ 16,215 |
| ₹ 50 Lakh | ₹ 44,245 | ₹ 38,018 | ₹ 32,430 |
| ₹ 75 Lakh | ₹ 66,368 | ₹ 57,027 | ₹ 48,645 |
| ₹ 1 Cr | ₹ 88,491 | ₹ 76,036 | ₹ 64,860 |
Benefits of using PNB Home Loan EMI Calculator
PNB Home Loan interest Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate, and tenure. Thus, using the PNB Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare PNB Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.
Factors Affecting PNB Home Loan EMI
Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.
If you apply for a higher loan amount, you will have to pay a higher EMI PNB gives a minimum home loan of ₹ 10,00,000 upto a maximum amount of ₹ 1,00,00,000.
Higher interest rate increases your PNB housing loan EMI which will increase the total cost of the loan. PNB current home loan interest rate starts at 6.75%. Do a complete market research and compare rates and calculate EMI online using the PNB home loan calculator before you apply for a home loan.
This is the period in which you can repay your home loan in PNB. Your EMI will be lower if you take a 30 years loan from PNB as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.
PNB Home Loan EMI Calculator Formula
PNB Home Loan Calculator calculates EMI based on the following formula.
P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how PNB Home Loan EMI calculator formulates EMI:
In above formula,
Comparison of PNB Home Loan EMI with other Banks
| Bank Name | Interest rate | Loan Amount of ₹ 10 Lakh | Loan Amount of ₹ 30 Lakh | Loan Amount of ₹ 50 Lakh |
|---|---|---|---|---|
| PNB | 6.75% | ₹ 6,486 | ₹ 19,458 | ₹ 32,430 |
| HDFC | 7.00% | ₹ 6,653 | ₹ 19,959 | ₹ 33,265 |
| ICICI Bank | 6.90% | ₹ 6,586 | ₹ 19,758 | ₹ 32,930 |
| SBI | 6.65% | ₹ 6,420 | ₹ 19,259 | ₹ 32,098 |
| LIC Housing Finance | 6.95% | ₹ 6,619 | ₹ 19,858 | ₹ 33,097 |
| Axis Bank | 6.70% | ₹ 6,453 | ₹ 19,358 | ₹ 32,264 |
PNB Home Loan Amortization Calculator
PNB Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. PNB gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.
How to read an amortization schedule
Suppose if you take a Home Loan of ₹ 35 Lakh for 15 years from PNB at an interest rate of 6.75%. EMI calculated for this loan amount is ₹ 30,972 and the total annual EMIs to be paid annually is ₹ 3,71,662. The EMI schedule of loan for 15 years is explained below in the table –
Amortization Schedule for a Home Loan of ₹ 35 Lakh over the 15 years
| Year | Interest paid during the year | Principal repaid during the year | Total amount paid during the year (Interest + Principal) | Outstanding Principal |
|---|---|---|---|---|
| 2022 | ₹ 1,55,703 | ₹ 92,072 | ₹ 2,47,775 | ₹ 34,07,928 |
| 2023 | ₹ 2,25,570 | ₹ 1,46,092 | ₹ 3,71,662 | ₹ 32,61,836 |
| 2024 | ₹ 2,15,398 | ₹ 1,56,264 | ₹ 3,71,662 | ₹ 31,05,573 |
| 2025 | ₹ 2,04,518 | ₹ 1,67,144 | ₹ 3,71,662 | ₹ 29,38,429 |
| 2026 | ₹ 1,92,880 | ₹ 1,78,782 | ₹ 3,71,662 | ₹ 27,59,647 |
| 2027 | ₹ 1,80,432 | ₹ 1,91,230 | ₹ 3,71,662 | ₹ 25,68,417 |
| 2028 | ₹ 1,67,117 | ₹ 2,04,545 | ₹ 3,71,662 | ₹ 23,63,872 |
| 2029 | ₹ 1,52,875 | ₹ 2,18,787 | ₹ 3,71,662 | ₹ 21,45,084 |
| 2030 | ₹ 1,37,641 | ₹ 2,34,021 | ₹ 3,71,662 | ₹ 19,11,064 |
| 2031 | ₹ 1,21,347 | ₹ 2,50,315 | ₹ 3,71,662 | ₹ 16,60,748 |
| 2032 | ₹ 1,03,918 | ₹ 2,67,744 | ₹ 3,71,662 | ₹ 13,93,004 |
| 2033 | ₹ 85,275 | ₹ 2,86,387 | ₹ 3,71,662 | ₹ 11,06,618 |
| 2034 | ₹ 65,335 | ₹ 3,06,327 | ₹ 3,71,662 | ₹ 8,00,291 |
| 2035 | ₹ 44,006 | ₹ 3,27,656 | ₹ 3,71,662 | ₹ 4,72,635 |
| 2036 | ₹ 21,192 | ₹ 3,50,470 | ₹ 3,71,662 | ₹ 1,22,165 |
| 2037 | ₹ 1,723 | ₹ 1,22,165 | ₹ 1,23,887 | -₹ 0 |
In the above illustration, on a PNB Home Loan of₹ 35 Lakh, taken at the lowest interest rate of 6.75, EMI paid is ₹ 30,972 and an annual total of EMIs is ₹ 3,71,662, the interest component is ₹ 2,31,981 while the principal component is ₹ 1,39,681 in year 1 of loan disbursement. You repay only 3.99% of the total principal after paying 12 EMIs during the first year.
PNB Home Loan EMI for ₹ 10 Lakh
The following table shows PNB Housing Loan EMI for ₹ 10 lakh home loan for different tenures at an interest rate of 6.75%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 10,00,000 | 6.75% | 5 Years | ₹ 19,683 |
| ₹ 10,00,000 | 6.75% | 10 Years | ₹ 11,482 |
| ₹ 10,00,000 | 6.75% | 15 Years | ₹ 8,849 |
| ₹ 10,00,000 | 6.75% | 20 Years | ₹ 7,604 |
| ₹ 10,00,000 | 6.75% | 30 Years | ₹ 6,486 |
PNB Home Loan EMI for ₹ 20 Lakh
The following table shows PNB Housing Loan EMI for ₹ 20 lakh home loan for different tenures at an interest rate of 6.75%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 20,00,000 | 6.75% | 5 Years | ₹ 39,367 |
| ₹ 20,00,000 | 6.75% | 10 Years | ₹ 22,965 |
| ₹ 20,00,000 | 6.75% | 15 Years | ₹ 17,698 |
| ₹ 20,00,000 | 6.75% | 20 Years | ₹ 15,207 |
| ₹ 20,00,000 | 6.75% | 30 Years | ₹ 12,972 |
PNB Home Loan EMI for ₹ 25 Lakh
The table below shows PNB Housing Loan EMI for ₹ 25 lakh home loan for different tenures at an interest rate of 6.75%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 25,00,000 | 6.75% | 5 Years | ₹ 49,209 |
| ₹ 25,00,000 | 6.75% | 10 Years | ₹ 28,706 |
| ₹ 25,00,000 | 6.75% | 15 Years | ₹ 22,123 |
| ₹ 25,00,000 | 6.75% | 20 Years | ₹ 19,009 |
| ₹ 25,00,000 | 6.75% | 30 Years | ₹ 16,215 |
PNB Home Loan EMI for ₹ 30 Lakh
The following table shows PNB Housing Loan EMI for ₹ 30 lakh home loan for different tenures at an interest rate of 6.75%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 30,00,000 | 6.75% | 5 Years | ₹ 59,050 |
| ₹ 30,00,000 | 6.75% | 10 Years | ₹ 34,447 |
| ₹ 30,00,000 | 6.75% | 15 Years | ₹ 26,547 |
| ₹ 30,00,000 | 6.75% | 20 Years | ₹ 22,811 |
| ₹ 30,00,000 | 6.75% | 30 Years | ₹ 19,458 |
PNB Home Loan EMI for ₹ 50 Lakh
The following table shows PNB Housing Loan EMI for ₹ 50 lakh home loan for different tenures at an interest rate of 6.75%
| Loan Amount | Interest rate | Tenure (Year) | EMI |
|---|---|---|---|
| ₹ 50,00,000 | 6.75% | 5 Years | ₹ 98,417 |
| ₹ 50,00,000 | 6.75% | 10 Years | ₹ 57,412 |
| ₹ 50,00,000 | 6.75% | 15 Years | ₹ 44,245 |
| ₹ 50,00,000 | 6.75% | 20 Years | ₹ 38,018 |
| ₹ 50,00,000 | 6.75% | 30 Years | ₹ 32,430 |
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FAQs
✅Will the PNB home loan EMI remain constant or change in future?
No, your PNB Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the PNB Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.
✅What happens in case of increase or decrease in PNB interest rate?
PNB offers floating rate home loans only. If you take a floating rate loan from PNB, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your PNB home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.
✅Will PNB home loan EMI change in case of prepayment?
PNB allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your PNB home loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure the same (that is paying a lesser amount every month). It is beneficial to keep the PNB home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using PNB home loan calculator.
✅Why should I calculate PNB loan EMI before taking a loan?
It is advised to calculate PNB home loan EMI before taking a home loan. There are several benefits of calculating your PNB housing loan EMI which can be done using PNB home EMI calculator as discussed below -
✅What is the EMI for home loan in PNB?
The PNB EMI will vary based on loan amount, tenure, rate of interest and can be calculated using PNB home loan calculator. Based on the lowest rate of 6.75% and maximum tenure of 30 years, the PNB home loan EMI for different loan amount will be:
| Loan amount | EMI |
|---|---|
| ₹ 10 Lakh | ₹ 6,486 |
| ₹ 12 Lakh | ₹ 7,783 |
| ₹ 15 Lakh | ₹ 9,729 |
| ₹ 30 Lakh | ₹ 19,458 |
| ₹ 50 Lakh | ₹ 32,430 |
You can compare PNB home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.
✅How accurate is a PNB Housing Loan EMI calculator?
Online PNB housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The PNB home loan emi calculator is far better than manual calculations , as chances of error are less.
✅How to pay your PNB Home loan EMI Online?
To pay the EMI of PNB home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.
✅How is PNB home loan EMI calculated?
The PNB Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.
Compare Home Loan EMI of All Banks
- SBI
- HDFC
- Citibank
- Bank of Baroda
- ICICI Bank
- Axis Bank
- PNB Housing Finance
- LIC Housing Finance
- Bajaj Home Finance
- Sundaram Home Finance
- Kotak Bank
- Yes Bank
- Syndicate Bank
- IDFC First Bank
- Karur Vysya Bank
- RBL Bank
- HSBC Bank
- Standard Chartered Bank
- Edelweiss
- GIC Housing Finance
- Reliance Capital
- IIFL
- Corporation Bank
- IDBI Bank
- Indian Bank
- Indian Overseas Bank
- OBC
- Indiabulls
- DCB Bank
- Dhan Laxmi Bank
- Karnataka Bank
- South Indian Bank
- Federal Bank
- Jammu And Kashmir Bank
- Lakshmi Vilas Bank
- Allahabad Bank
- Andhra Bank
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Punjab and Sind Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- DBS Bank
- India Shelters
- LT Housing Finance
- Piramal Housing Finance
- Aavas Financiers
- Aadhar Housing Finance
- Tata Capital Home Finance
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