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PNB Home Loan Interest Rate - Sep 2017

Last Updated 19th Sep 2017

PNB Home Loan Interest Rates

Interest Rate 8.35% - 8.45%
Check Best Offers
Lowest EMI Rs. 758 per lakh
Max Tenure 30 years
Processing Fee Upto 0.50%
Minimum Rs. 20,000 Maximum Rs. 50,000
Prepayment, Foreclosure Charges Allowed with Nil, 2% in case of loan takeover 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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PNB Home Loan

PNB offers housing loan to people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. Taking a loan from PNB has the following benefits:

    PNB Home Loan Interest Rates

    In addition to its regular loan products, bank also offers customized loans for special categories of borrowers. Bank offers lower rates to ladies borrowers. Click on the details to get slabwise interest rates.

    PNB Floating Rate Home Loans

    PNB Home Loan Interest Rates
    PNB Home Loan Floating 8.35% - 8.45%
    Details+

    PNB Fixed Rate Home Loans

    Product Interest Rates
    PNB Home Loan Fixed 8.90% - 8.95%
    Details+

    PNB home loan interest rate depends upon

    • Loan amount: Housing loan rate in PNB depends upon the loan amount you apply for. Higher the loan amount, lesser will be the rate
    • Your Salary: Income helps you in identifying your rate of interest. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate
    • Type of loan opted for: PNB also offers differential rates for women borrowers and also under their fixed and floating rate schemes. The rate of interest may be higher or lower under their special or popular loan product offers.

    Interest Rate and its impact on PNB Home Loan Eligibility

    PNB has detailed criteria to determine a potential borrower’s eligibility for housing loans. These eligibility criteria determine the loan amount you can avail. Interest rate offered by PNB also impacts the amount of loan you can avail from PNB.
    Some of the key eligibility criteria are summarized in the table below:

    PNB Home Loan Eligibility Criteria
    Interest Rate 8.35% - 8.45%
    Age 21 - 60 years
    Job Stability in case of Salaried (in years) 2 years
    Minimum Credit Score 650 and above
    Loan Amount Rs. 500,000 to Rs. 10,000,000
    Loan to Value Ratio Upto 80%
    FOIR (Fixed Obligations to Income Ratio) Up to 0.65

    Home Loan Charges Applicable (Other than Interest)

    In addition to interest rates, home loan also carry some other charges which include:

    • 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 house loan with Nil, 2% in case of loan takeover prepayment charges
    • Processing Fee - PNB charges a processing fee of 0.50% of loan amount Minimum Rs. 20,000 Maximum Rs. 50,000 with applicable tax
    • Other Charges - Bank also charges technical and legal charges which are explained to the customer during the loan process.

    Home Loan Products and Rates

    PNB offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

    PNB Home Loan Eligibility Calculator

    PNB Home Loan Eligibility is the amount of loan you can avail based on an assessment of your repayment capacity as well as the value of property. It is important to calculate eligibility for housing loan from PNB. You can use eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

    SBI Home Loan EMI and Interest Calculator

    Further, you can also use the PNB Home Loan EMI Calculator online to calculate your house loan EMI. EMI is a fixed amount that you pay each month towards the repayment of yourloan till the end of tenure

    • EMI calculator of PNB helps you to calculate your monthly EMI at different rate of interest and also check and compare 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 rate, higher will be the EMI. You can also estimate the interest amount you pay over the tenure of the loan at various loan tenure as well as interest rates
    • Loan tenure matters equally as higher tenure reduces your EMI

    What are the benefits of calculating PNB Housing Loan EMI?

    • EMI calculator helps you to calculate your monthly EMI at different rate of interest
    • PNB Housing 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

    Housing Loan PNB documents required

    For Salaried employee

    • 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

    For Self-Employed

    • 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

    Why to take home loan from PNB?

    PNB offers housing loan at 8.35% rate with the lowest EMI of Rs. 758 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to PNB.

    What is the maximum loan tenure I can opt under PNB house loan?

    PNB offers you a longer tenure of 30 years to repay your 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 loan with Nil, 2% in case of loan takeover charges.

    Can I transfer my house loan from another bank to PNB?

    Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. 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 housing loan?

    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 rate on PNB housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.15%. When Bank offers a home loan at 8.35%, it applies a premium of 0.2% to its MCLR Rate to arrive at this home loan rate.
    • When RBI increases 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.

    PNB Home Loan in India

    PNB Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 011-23318130, rad [at] pnb [dot] co [dot] in
    Ahmedabad 011-23318130, rad [at] pnb [dot] co [dot] in
    Ambala 011-23318130, rad [at] pnb [dot] co [dot] in
    Anand 011-23318130, rad [at] pnb [dot] co [dot] in
    Aurangabad 011-23318130, rad [at] pnb [dot] co [dot] in
    Bangalore 011-23318130, rad [at] pnb [dot] co [dot] in
    Bhilai 011-23318130, rad [at] pnb [dot] co [dot] in
    Bhilwara 011-23318130, rad [at] pnb [dot] co [dot] in
    Bhiwadi 011-23318130, rad [at] pnb [dot] co [dot] in
    Bhopal 011-23318130, rad [at] pnb [dot] co [dot] in
    Bhubaneswar Cuttack 011-23318130, rad [at] pnb [dot] co [dot] in
    Bikaner 011-23318130, rad [at] pnb [dot] co [dot] in
    Chandigarh 011-23318130, rad [at] pnb [dot] co [dot] in
    Chennai 011-23318130, rad [at] pnb [dot] co [dot] in
    Cochin 011-23318130, rad [at] pnb [dot] co [dot] in
    Coimbatore 011-23318130, rad [at] pnb [dot] co [dot] in
    Dehradun 011-23318130, rad [at] pnb [dot] co [dot] in
    Delhi 011-23318130, rad [at] pnb [dot] co [dot] in
    Durg 011-23318130, rad [at] pnb [dot] co [dot] in
    Faridabad 011-23318130, rad [at] pnb [dot] co [dot] in
    Gandhinagar 011-23318130, rad [at] pnb [dot] co [dot] in
    Ghaziabad 011-23318130, rad [at] pnb [dot] co [dot] in
    Goa 011-23318130, rad [at] pnb [dot] co [dot] in
    Greater Noida 011-23318130, rad [at] pnb [dot] co [dot] in
    Gurgaon 011-23318130, rad [at] pnb [dot] co [dot] in
    Guwahati 011-23318130, rad [at] pnb [dot] co [dot] in
    Gwalior 011-23318130, rad [at] pnb [dot] co [dot] in
    Hyderabad 011-23318130, rad [at] pnb [dot] co [dot] in
    Indore 011-23318130, rad [at] pnb [dot] co [dot] in
    Jabalpur 011-23318130, rad [at] pnb [dot] co [dot] in
    Jaipur 011-23318130, rad [at] pnb [dot] co [dot] in
    Jalandhar 011-23318130, rad [at] pnb [dot] co [dot] in
    Jodhpur 011-23318130, rad [at] pnb [dot] co [dot] in
    Kanpur 011-23318130, rad [at] pnb [dot] co [dot] in
    Karnal 011-23318130, rad [at] pnb [dot] co [dot] in
    Kolhapur 011-23318130, rad [at] pnb [dot] co [dot] in
    Kolkata 011-23318130, rad [at] pnb [dot] co [dot] in
    Kota 011-23318130, rad [at] pnb [dot] co [dot] in
    Kozhikode 011-23318130, rad [at] pnb [dot] co [dot] in
    Lucknow 011-23318130, rad [at] pnb [dot] co [dot] in
    Ludhiana 011-23318130, rad [at] pnb [dot] co [dot] in
    Madurai 011-23318130, rad [at] pnb [dot] co [dot] in
    Meerut 011-23318130, rad [at] pnb [dot] co [dot] in
    Mehsana 011-23318130, rad [at] pnb [dot] co [dot] in
    Mohali Sas Nagar 011-23318130, rad [at] pnb [dot] co [dot] in
    Mumbai 011-23318130, rad [at] pnb [dot] co [dot] in
    Mussoorie 011-23318130, rad [at] pnb [dot] co [dot] in
    Nagpur 011-23318130, rad [at] pnb [dot] co [dot] in
    Nashik 011-23318130, rad [at] pnb [dot] co [dot] in
    Noida 011-23318130, rad [at] pnb [dot] co [dot] in
    Noida Extn 011-23318130, rad [at] pnb [dot] co [dot] in
    Panipat 011-23318130, rad [at] pnb [dot] co [dot] in
    Patna 011-23318130, rad [at] pnb [dot] co [dot] in
    Pondicherry 011-23318130, rad [at] pnb [dot] co [dot] in
    Pune 011-23318130, rad [at] pnb [dot] co [dot] in
    Raipur 011-23318130, rad [at] pnb [dot] co [dot] in
    Rajkot 011-23318130, rad [at] pnb [dot] co [dot] in
    Ranchi 011-23318130, rad [at] pnb [dot] co [dot] in
    Rohtak 011-23318130, rad [at] pnb [dot] co [dot] in
    Roorkee 011-23318130, rad [at] pnb [dot] co [dot] in
    Salem 011-23318130, rad [at] pnb [dot] co [dot] in
    Shimla 011-23318130, rad [at] pnb [dot] co [dot] in
    Sonepat 011-23318130, rad [at] pnb [dot] co [dot] in
    Surat 011-23318130, rad [at] pnb [dot] co [dot] in
    Trichy 011-23318130, rad [at] pnb [dot] co [dot] in
    Udaipur 011-23318130, rad [at] pnb [dot] co [dot] in
    Vadodara 011-23318130, rad [at] pnb [dot] co [dot] in
    Varanasi 011-23318130, rad [at] pnb [dot] co [dot] in
    Vijaywada 011-23318130, rad [at] pnb [dot] co [dot] in
    Vizag 011-23318130, rad [at] pnb [dot] co [dot] in
    Pnb Home Loan Interest Rate
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