PNB Home Loan EMI Calculator

PNB Home Loan - Lowest EMI is Rs. 797 per lakh

Last Updated 18th Jan 2017
  • Get monthly EMI as low as Rs. 797 per lakh with PNB Housing Finance now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by PNB Housing Finance is 8.90%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,008 for a 15 year loan and Rs. 893 for a 20 year loan. Check the EMI for other tenures using the PNB Housing Finance home loan EMI calculator on this page.

Home Loan EMI Calculator PNB Housing Finance

PNB Housing Finance 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 Housing Finance 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 Housing Finance offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 797 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by PNB Housing Finance on Home Loan is 8.90%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 25,20822,33319,936
    5,000,000 50,41644,66539,872
    7,500,000 75,62466,99859,808
    10,000,000 100,83389,33079,744
  • 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 Housing Finance Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 100,000,000
r = Rate of interest per month. Current rate is 8.90%, which is linked to PNB PLR
n = tenure in month. For PNB Housing Finance, 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 Housing Finance 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 Housing Finance 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 Housing Finance, 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 Housing Finance 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.
PNB Home Loan EMI Calculator News - Jan 2017
10th Jan 17 PNB Housing reduces home loan rates by 40 basis points
PNB Housing Finance has reduced its home loan interest rates for salaried employees to 8.90 percent. The revised home loan rate for self employed professionals now stands between 8.9 to 9.4 percent. The rates are effective from 6th January, 2017.
16th Nov 16 PNB Housing Finance net profit in the second quarter increases by 78 percent
PNB Housing Finance, in its first quarterly result after listing, reported an increase in its net profit by 78 percent to Rs. 137 crore in the quarter ended on 30th September, 2016 as compared to Rs. 77 crores during the same period a year ago. Total income also rose by 50 percent to Rs. 970 crores.
14th Oct 16 PNB Housing Finance cuts home loan rates by 10 basis points
PNB Housing has reduced its home loan rates by 10 bps. The floating home loan rates have been reduced to 9.45 per cent from 9.55 per cent while fixed rates decreased to 9.4 from 9.5 per cent. PNBHFL has also cut its loan against property rates by 25 bps to 11 per cent from 11.25 per cent. This rate cut will be effective from 14th October, 2016.
25th Jul 16 PNB Housing Finance plans to expand in tier 2, 3 cities
PNB Housing Finance is planning to expand its business to Pan India levelto meet the growing demand from tier-II and tier-III cities . At present, the company has 48 branches at 28 locations. The company is targeting 60 more locations that have a population of more than 8-9 million.
05th Jul 16 PNB Housing Finance files draft papers for Rs 2,500 Crore IPO
PNB Housing Finance approached SEBI for an Initial Public Offer worth up to Rs 2,500 crore. As stated in the Draft Red Herring Prospectus(DRHP), the company plans to raise up to Rs 2,500 crore through the initial share sale and a portion would be reserved for the employees. The housing finance company plans to use the proceeds from share sale to strengthen its capital base and for general corporate purposes . The company plans to grow business by expanding into specific target markets such as the affordable housing segment. At the end of March 2016, PNB had 51 per cent stake in the company. Post IPO, it would "continue to hold approximately 35-37 per cent of the issued and paid-up share capital", according to the DRHP
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