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PNB Housing Finance Home Loan Interest Rates 2021

PNB Housing Finance Housing Loan Interest Rate

Last Updated 30th Mar 2021

Current PNB Housing Finance Home loan interest rates for Apr 2021 starts at 7.35% p.a. for a maximum tenure of 30 years. Processing fee on its housing loans is Upto 1.00%.

Loan AmountPNBHFL Home Loan Floating Rate
Upto ₹ 5 Lakh7.35%
₹ 5 Lakh - ₹ 10 Lakh7.35%
₹ 10 Lakh - ₹ 1.50 Cr7.70%
Above ₹ 1.50 Cr7.70%

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PNB Housing Finance Home Loan Interest Rates

PNB Housing Finance offers various products on home loan. PNB Housing Finance home loan can be used for the purchase of a flat, home construction loan, extension or improvement loan.

Features

  • PNB Housing Finance Home Loan Interest Rate starts from 7.35%.
  • PNB Housing Finance charges a processing fees of Upto 1.00%.
  • Loan Tenure of Home Loan ranges from 5 years to 30 years.
  • Lowest EMI per lakh on home Loan from PNB Housing Finance is ₹ 689 per lakh offered at the lowest interest rate of 7.35% at the longest loan tenure of 30 years.
  • PNB Housing Finance allows prepayment of home loans with Nil charges on floating rate loans.
  • PNB Housing Finance has an average customer rating of 4.2/5.0 from customers who have taken a home loan from the bank.

PNB Housing Finance Home Loan Rate

Current PNB Housing Finance home loan interest rates are in the range of 7.35% to 8.75%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 7.35%. The table below gives the interest rates on various housing finance schemes of PNB Housing Finance.

PNB Housing Finance Home Loan Scheme Interest Rates
PNBHFL Home Loan Floating7.35% - 8.75%
Residential Plot Loans8.35% - 9.75%
PNB Unnati Home Loan Floating10.75%

PNB Housing Finance Home Loan Charges

PNB Housing Finance Home Loan Processing Fee

The bank charges a minimum processing of ₹ 3,000. The processing fees is typically non-refundable and has to be paid at the time of loan application. In addition to PNB Housing Finance housing loan processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

PNB Housing Finance Home Loan Documents

Documents for Salaried employees

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 2 years
  • 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
  • Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

Documents 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
  • Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

Home Loan PNB Housing Finance Schemes

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

Residential Plot Loans

  • The loan is taken for the purchase of a plot for constructing a home.
  • PNB housing finance provides loans for the purchase of land in an urban area through its Residential Plot loan product.
Key Loan Terms
  • Home loan available at the age of 21 - 70 years
  • Loan amount that you can borrow ranges from ₹ 5 Lakh to ₹ 1 Cr
  • Option to apply for a maximum ltv of 70% of value of the property
  • Housing loan for a maximum period of 30 years

Unnati Home Loan

  • Special home loan scheme targeted at lower and middle income segment to enable them to buy their own dream house at affordable Equated Monthly Instalments (EMIs).
  • Loan to help you realise the dream of owning a home.
  • Easy loan processing with minimal documentation. Attractive and affordable rate of interest.
  • Loan upto 90 percent of the property value.
Key Loan Terms
  • Home loan available at the age of Salaried employee of 70 years, Self employed professional/non professional of 65 years
  • Loan amount that you can borrow ranges from ₹ 20 Lakh to ₹ 0 Cr
  • Option to apply for a maximum ltv of 90% of value of the property
  • Housing loan for a maximum period of 30 years

PNB Housing Finance Pradhan Mantri Awas Yojana

The government of India has launched many affordable housing loan schemes to facilitate availing home loan at concessional rates to lower and middle-income groups. Some of the popular schemes are:

a) PMAY or Home Loan Subsidy Scheme: Launched in 2015 to provide houses to the homeless. You can apply for PMAY at PNB Housing Finance if you fulfil the eligibility criteria. Know more about PMAY Scheme

b) Pradhan Mantri Gramin Awas Yojana:  It focuses on homeless families and offers pucca houses with basic amenities.

c) DDA Housing Scheme: It aims to provide houses to low, middle, and high-income groups.

d) Tamil Nadu Housing Board Scheme: It started in 1961 to provide houses to varied income groups.

e) Mhada Lottery Scheme: It's a lottery scheme launched every year for buyers of varied income groups.

f) Rajiv Awas Yojana: Launched in 2009 with the aim of bringing illegal construction under the formal system and encouraging slum-free India.

Each of these schemes has its conditions with respect to eligibility, the amount of loan that can be borrowed, and the rate of interest.

Illustration on PNB Housing Finance Home Loan Interest Rate
Maximum Annual Percentage Rate (APR) 7.38% to 8.78%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • PNB Housing Finance Home Loan Interest Rate: 7.35% to 8.75%
  • Processing Fee payable to: Upto ₹ 1,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 689 for 30 Years ₹ 1,00,000 loan at 7.35% (lowest rate, longest time period) to ₹ 2,064 for 5 Years ₹ 1,00,000 loan at 8.75% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.38% to 8.78%
  • Total cost payable over loan tenure: ₹ 20,800 for 5 Years loan to ₹ 1,49,029 for 30 Years loan

FAQs

What is PNB Housing Finance Home Loan interest rate?

PNB Housing Finance Home Loan interest rate ranges between 7.35% to 8.75%.

Why should I opt for balance transfer to PNB Housing Finance?

PNB Housing Finance offers competitive Home Loan rates with the best EMI of ₹ 689 per lakh availed at a low-interest rate of 7.35% for a maximum tenure of 30 years. If you are paying an EMI more than ₹ 689 per lakh, you should consider the option for a loan transfer to PNB Housing Finance from your existing bank. EMIs can be calculated through PNB Housing Finance Home Loan EMI calculators.

Do I get tax benefits on a Home Loan from PNB Housing Finance?

As per the Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on the principal amount and interest components of a house finance under section 24 and section 80C of Income Tax Act.

What is the effect of part prepayments on PNB Housing Finance housing finance EMI ?

Part prepayments 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 Home Loan 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 Finance 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 a loan.

  • Floating rate on PNB Housing Finance housing loan is linked to its PLR Rate, which is currently at 14.35%. When Bank offers a Home Loan at %, it applies a discount of 14.35% to its PLR Rate to arrive at this Home Loan rate.
  • When RBI increases rates, the bank may increase its PLR 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 PLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

What is the current PNB Housing Finance Home Loan rate?

The current PNB Housing Finance Home Loan rate starts from 7.35% with a processing fee of Upto 1.00%


PNB Housing Finance Home Loan Reviews 4.2/5  by 53 customers
MyLoanCare Service
4.3/5.0
Banks Service
4.1/5.0
Guruavinash G, Pondicherry
Reviewed on 27th Jan 2020
5 / 5 stars
PNB Housing Finance Home Loan Availed in Jan 2020

MyLoanCare was helpful in every step of acquiring my loan on time.Read more...

Ramesh Jangiti, Hyderabad
Reviewed on 30th Sep 2019
4.5 / 5 stars
PNB Housing Finance Home Loan Availed in Jul 2019

Good follow-up on the loan by both Bank and MyLoanCare.Read more...

Sudhanya Mukherjee, Indore
Reviewed on 27th Sep 2019
5 / 5 stars
PNB Housing Finance Home Loan Availed in Jul 2019

The process was very smooth. I found good facilitation from the bank. Also good terms and easy proceRead more...

N Balakishan, Hyderabad
Reviewed on 26th Sep 2019
4.5 / 5 stars
PNB Housing Finance Home Loan Availed in Sep 2019

The executive Shubham is a really nice guy who was updating everything on time as required. I had a Read more...

Manish Gupta, Hyderabad
Reviewed on 02nd Aug 2019
5 / 5 stars
PNB Housing Finance Home Loan Availed in Jul 2019

Very good service, the team kept following up and helped me in resolving my queries. Thanks.Read more...

Ruchi katheria, Delhi
Reviewed on 01st Jun 2019
5 / 5 stars
PNB Housing Finance Home Loan Availed in May 2019

Very nicely done great job not much hassle easily done.














..... Read more...

TRUN Chauhan , Faridabad
Reviewed on 30th May 2019
5 / 5 stars
PNB Housing Finance Home Loan Availed in May 2019

Very happy with the your services and hassle free process. Excellent good job.Read more...

Namrata Raj , Delhi
Reviewed on 17th Apr 2019
5 / 5 stars
PNB Housing Finance Home Loan Availed in Apr 2019

Very good experience. Nice services. Customer care. Processing fast. Take care of needs of customersRead more...

PNB Housing Finance Home Loan News - Apr 2021
  • 2021-03-01 : PNBHFL cut its home loan rates to 7.35%
    PNBHFL reduced its home loan rates to 7.35%. The revised rates for home loan will be effective from 25th February 2021.
  • 2020-07-31 : PNB Housing Finance introduced online application and verification platform
    PNB Housing Finance launched Ace - an innovative digital customer onboarding platform. The move is aimed at facilitating easier, safer approval and disbursal of home loans with a minimal physical interface.
  • 2020-06-08 : PNB Housing revised its home loan rates
    PNB Housing revised its home loan rates. The new home loan rates lie between 8.60% to 9.25%. The revised rates are in effect from 1 June 2020.
  • 2020-01-24 : PNB Housing Finance Q3 net profit reduced by 22%
    PNB Housing Finance net profit amount reduced by 22% to 237.02 crores from ₹302.97 crores in the corresponding period of last year. Total income on the back of a decrease in home loans reduced by 0.18% to Rs 2,074.79 crores. Further, Net Interest income stood at Rs Rs 566.1 crores.
  • 2020-01-23 : PNB Housing Finance revised Home loan interest rate
    PNB Housing Finance changed the Home Loan interest rate and the new rates will be effective from 24 January 2020. The home loan rate lies between 8.95% to 9.20% for Normal Home Loans and 10.75% to 12% for Unnanti Home Loans.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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