PNB Home Loan Interest Rate Calculator - Oct 2016

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PNB Home Loan Interest Rates

Last Updated 20th Oct 16

PNB Home Loan Interest Rate 9.35%
Check Special Offers
Lowest EMI Rs. 830 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
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 Salaried   Self Employed - Professional   Self Employed - Business 

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PNB Home Loan

PNB offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan PNB

PNB home loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Home loan interest rates offered by PNB depends upon MCLR.
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in MCLR rate and should be chosen only if you believe that the rates will not hike in future.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
PNB offers home loan based on 1 Year MCLR rates which is currently 9.30%.
PNB home loan interest rate depends upon
  • PNB home loan amount: Home loan rate in PNB depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: PNB has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. PNB interest rate varies with your monthly income. Higher the income, less will the rate of interest

PNB Home Loan Charges

  • PNB Home Loan foreclosure charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. PNB allows prepayment of home loan with Nil, 2% in case of loan takeover prepayment charges
  • Processing Fee - PNB asks for a processing fee of 0.50% of loan amount with applicable service tax

PNB Home Loan EMI Calculator

    Home Loan EMI of PNB is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • PNB home loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating PNB Home Loan EMI?
  • EMI calculator of PNB Home Loan helps you to calculate your monthly EMI at different rate of interest
  • PNB Home Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

PNB Home Loan Eligibility Calculator

Home Loan eligibility criteria PNB
Eligibility of House loan in PNB relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. PNB offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, PNB Home Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your eligibility for Home loan from PNB. In case you are salaried, you must be in a full time job for at least 2 months. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your PNB eligibility. If you are working with a reputed company, probability of getting home loan from PNB increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: PNB gives you Home loan depending upon your income. PNB gives you an amount ranging from Rs. 500,000 to Rs. 10,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using PNB Home Loan Eligibility Calculator.

    PNB Floating Rate Home Loans

    PNB Home Loan Floating
    Upto Rs. 2,500,000 - 9.35%
    Rs. 2,500,001 - 5,000,000 - 9.35%
    Rs. 5,000,001 - 7,500,000 - 9.35%
    Above Rs. 7,500,000 - 9.35% linked to 1 Year MCLR
    with OD Facility
    Upto Rs. 2,500,000 - 9.9%
    Above Rs. 2,500,001 - 5,000,000 - 9.9%
    Above Rs. 5,000,001 - 7,500,000 - 9.9%
    Above Rs. 7,500,000 - 9.9% linked to 1 Year MCLR
    PNB Flexible Housing Loan Floating
    Upto Rs. 2,500,000 - 9.5%
    Rs. 2,500,001 - 5,000,000 - 9.5%
    Rs. 5,000,001 - 7,500,000 - 9.5%
    Above Rs. 7,500,000 - 9.5% linked to 1 Year MCLR

    PNB Fixed Rate Home Loans

    PNB Home Loan Fixed
    Upto Rs. 2,500,000 - 9.85%
    Rs. 2,500,001 - 5,000,000 - 9.85%
    Rs. 5,000,001 - 7,500,000 - 9.85%
    Above Rs. 7,500,000 - 9.85% linked to 1 Year MCLR
    PNB Flexible Housing Loan Fixed
    Upto Rs. 2,500,000 - 10%
    Rs. 2,500,001 - 5,000,000 - 10%
    Rs. 5,000,001 - 7,500,000 - 10%
    Above Rs. 7,500,000 - 10% linked to 1 Year MCLR

    PNB Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to PNB?
    PNB offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of PNB
    You can avail additional top-up home loan from PNB, subject to your eligibility

    Housing Loan PNB documents required

    Home Loan for Salaried employee PNB documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed PNB documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions – PNB Home Loan

    Why to take home loan from PNB?
    PNB offers home loan at lower rate of interest i.e. at % with the lowest EMI of Rs. 830 per lakh which is lesser than other banks. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to PNB.
    What is the maximum loan tenure I can opt under PNB home loan?
    PNB offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from PNB?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil, 2% in case of loan takeover.
    Can I transfer my home loan from another bank to PNB?
    Yes, PNB gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to PNB offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in PNB?
    The benchmark applicable for home loan in PNB is 1 Year MCLR.
    What is the effect of part payments on PNB housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on PNB housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on PNB housing loan change in future?
    • Floating interest rate on PNB home loan is linked to its MCLR Rate, which is currently at 9.30%. So, when PNB offers a home loan at 9.30%, it applies a 0.20 premium to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.
    How much margin would I have to pay on home loan?
    S. NO. Loan Amount Margin
    1 Up to Rs. 20 Lacs 15%
    2 Above Rs. 20 Lacs to upto Rs. 75 Lacs 20%
    3 Above Rs. 75 Lacs 25%
    Can I convert my home loan rate from fixed rate to floating rate or vice-versa? What are the charges applicable?
    Yes, you can convert your home loan rates from fixed rate to floating rate and vice- versa. The charges applicable are as following:
    • On conversion of loan from fixed rate to floating rate, charges are 2% of the outstanding loan amount and applicable tax
    • On floating rate to fixed rate loan conversion, you will be charged 0.5% of the outstanding principal and applicable tax
    Am I eligible for top up on my existing home loan?
    PNB allows you to top up your existing home loan at any time during your loan tenure.
    *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.
Home Loan @ 9.30%* Cashback Upto Rs. 5,000

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PNB Home Loan Interest Rate 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.