PNB Home Loan EMI Calculator

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PNB Home Loan EMI Calculator

Last Updated 20th Oct 16

PNB Home Loan - Lowest EMI is Rs. 830 per lakh

  • Get monthly EMI as low as Rs. 830 per lakh with PNB now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by PNB is 9.35%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,035 for a 15 year loan and Rs. 922 for a 20 year loan. Check the EMI for other tenures using the PNB home loan EMI calculator on this page.

Home Loan EMI Calculator PNB

PNB Home Loan EMI Calculator

PNB Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to PNB against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With PNB offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 830 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by PNB on Home Loan is 9.35%. You can check EMI for other tenures using our PNB Home Loan EMI calculator.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 25,88023,05920,748
    5,000,000 51,76046,11841,497
    7,500,000 77,63969,17762,245
    10,000,000 103,51992,23682,993
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

PNB Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how PNB Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 500,000 to Rs. 10,000,000
r = Rate of interest per month. Current rate is 9.35%, which is linked to 1 Year MCLR, last revised on 01st Oct 16
n = tenure in month. For PNB, this can be 360 months

Will the PNB home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by PNB subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, PNB will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by PNB, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • PNB allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
*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.
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PNB Home Loan EMI Calculator News - Oct 2016
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.
07th Jul 16 Punjab National Bank waives processing fee for home, car loans till Sep 30
Punjab National Bank has waived processing fee and documentation charges for new housing and car loans till September end. The three month monsoon bonanza offer would end in September 30. During the period the bank will be offering full waiver of upfront/processing fees and documentation charges for housing and car loans sanctioned from July 1 to September 30. During this financial year, the focus of the bank is on retail, particularly housing, car and education segment.