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PNB Home Loan Interest Rate Calculator - Jul 2017

Last Updated 15th Jul 2017

PNB Housing Finance Home Loan Interest Rates

Interest Rate 8.50% - 10.25%
Check Best Offers
Lowest EMI Rs. 769 per lakh
Max Tenure 30 years
Processing Fee Upto 1.00%
Maximum Rs. 10,000
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 70 years for Salaried
Min 21 and Max 70 years for Self Employed
Apply Home Loan @ 8.35%*
Rs.
Rs.
+91

PNB Housing Finance Home Loan

PNB Housing Finance 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 Housing Finance has the following benefits:

  • Under Ghar Utsav scheme, special floating rate for first 12 months, and thereafter rate will be PNB HFR +/- margin
  • PAN India branch network
  • 3, 5 and 10 years fixed interest rate options to avoid fluctuation in rates and EMI's
  • Doorstep service and quick processing of loan applications

PNB Housing Finance 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 Housing Finance Floating Rate Home Loans

Product Interest Rates
PNBHFL Home Loan Floating 8.50%
Details+
PNB Unnati Home Loan Floating 10.25%
Details+

PNB Housing Finance Fixed Rate Home Loans

Product Interest Rates
PNB Home Loan Fixed 8.60% - 8.70%
Details+
PNB Unnati Home Loan Fixed 10.50%
Details+
PNBHFL Home Loan 2 Year Fixed 8.50% - 8.60%
Details+

PNB Housing Finance home loan interest rate depends upon

  • Loan amount: Housing loan rate in PNB Housing Finance 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 Housing Finance 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.

PNB Housing Finance Eligibility Criteria

PNB Housing Finance has detailed criteria to determine a potential borrower’s eligibility for housing loans. Some of the key criteria are:

PNB Housing Finance Home Loan Eligibility Criteria
Age 21 - 70 years
Minimum Income Rs. 10,000
Minimum Credit Score 650 and above
Loan Amount Rs. 1,500,000 to Rs. 100,000,000
Loan to Value Ratio Upto 90%
FOIR (Fixed Obligations to Income Ratio) Up to 0.65
  • Age: Age plays an important role to know your eligibility and repayment capacity. PNB Housing Finance offers loan to salaried at the age of 21 to 70 years and self- employed individuals at 21 to 70 years. A borrower taking a home loan at the age of 50 cannot get a loan of more than 20 years, which may result in lower loan eligibility and monthly EMI given higher servicing burden on his existing income. A person taking a loan at the age of 25, can get loan of up to 30 years, thus reducing servicing burden on his existing income and hence, improving his loan amount eligibility
  • Income: In case of salaried person, loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. PNB Housing Finance asks for net monthly income of minimum Rs. 10000. 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 status and eligibility for home loan. In case you are salaried, you must be in a full time job for at least years. In case you are self-employed, minimum turnover and minimum net income criteria may apply. PNB Housing Finance also looks for business vintage (number of years a business has been in existence of years. 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 loan eligibility. If you are working with a reputed company, probability of getting house loan from PNB Housing Finance 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 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 house loan eligibility. PNB Housing Finance looks for a minimum credit score of 650 and above
  • Loan Amount Bank gives you loan depending upon your loan eligibility. PNB Housing Finance gives you an amount ranging from Rs. 1,500,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Property Value: The value of the property to be purchased is used to calculate your maximum loan eligibility based on the maximum permissible LTV ratio which can range upto 90%. PNB Housing Finance will get a detailed property assessment done to establish that all legal titles are in place, the market is saleable or liquid and to get an estimate of the fair market value of the property. LTV is calculated based on the estimated fair market value or registered value, whichever is lower
  • Fixed Obligations to Income Ratio (FOIR): PNB Housing Finance will also calculate the proportion of your fixed obligations (including EMIs paid on other existing loans) to your income to calculate the Fixed Obligations to Income Ratio, popularly known as FOIR. In summary, fixed obligations include estimated average monthly expenses and EMIs you are paying on other existing loans. Minimum FOIR to be eligible for a PNB Housing Finance home loan is 0.65

PNB Housing Finance Loan Eligibility Calculator and EMI Calculator

PNB Housing Finance 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 Housing Finance. You can use eligibility calculator to get a fairly accurate estimate of your potential eligibility subject to the information provided by you.

Further, you can also use the PNB Housing Finance 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 Housing Finance 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
  • Loan tenure matters equally as higher tenure reduces your EMI

What are the benefits of calculating PNB Housing Finance Housing Loan EMI?

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

Other Home Loan Charges

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 Housing Finance allows prepayment of house loan with prepayment charges
  • Processing Fee - PNB Housing Finance charges a processing fee of 1.00% of loan amount Maximum Rs. 10,000 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

PNB Housing Finance 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:

Unnati Home Loan

Description:
  • 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% of the property value.
  • 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).
Who is Eligible?
  • Salaried, self-employed professional/non-professional, Individual with Professional Degree/Diploma/Post Graduate Degree/ITI, Employee of local and stable business entity, Individual with a fixed minimum income of Rs. 10,000 per month.
  • Individuals who want to own their first dream house.
Key Loan Terms
  • Home loan available at the age of Salaried employee- 70 years, Self-employed professional/non-professional- 65 years
  • Loan amount that you can borrow ranges from Rs. 1,500,000 to Rs. 100,000,000
  • Option to apply for a maximum ltv of 90% of value of the property
  • Housing loan for a maximum period of 30 years

Housing Loan PNB documents required

For Salaried employee

  • 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

For Self-Employed

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 3 years
  • 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 Housing Finance?

PNB Housing Finance offers housing loan at 8.50% rate with the lowest EMI of Rs. 769 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to PNB Housing Finance.

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

PNB Housing Finance 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 Housing Finance?

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 charges.

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

Yes, Bank gives you the facility to transfer your existing loan with a hassle free process. Loan balance transfer to PNB Housing Finance 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 Housing Finance is PLR.

What is the effect of part payments on PNB Housing Finance 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 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 loan.

How will interest rate on PNB Housing Finance housing loan change in future?
  • 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 8.50%, it applies a discount of 5.85% 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.

PNB Home Loan in India

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

City Customer Care Number
Agra 1800-120-8800, loans [at] pnbhousing [dot] com
Ahmedabad 1800-120-8800, loans [at] pnbhousing [dot] com
Ambala 1800-120-8800, loans [at] pnbhousing [dot] com
Anand 1800-120-8800, loans [at] pnbhousing [dot] com
Aurangabad 1800-120-8800, loans [at] pnbhousing [dot] com
Bangalore 1800-120-8800, loans [at] pnbhousing [dot] com
Bhilai 1800-120-8800, loans [at] pnbhousing [dot] com
Bhilwara 1800-120-8800, loans [at] pnbhousing [dot] com
Bhiwadi 1800-120-8800, loans [at] pnbhousing [dot] com
Bhopal 1800-120-8800, loans [at] pnbhousing [dot] com
Bhubaneswar Cuttack 1800-120-8800, loans [at] pnbhousing [dot] com
Bikaner 1800-120-8800, loans [at] pnbhousing [dot] com
Chandigarh 1800-120-8800, loans [at] pnbhousing [dot] com
Chennai 1800-120-8800, loans [at] pnbhousing [dot] com
Cochin 1800-120-8800, loans [at] pnbhousing [dot] com
Coimbatore 1800-120-8800, loans [at] pnbhousing [dot] com
Dehradun 1800-120-8800, loans [at] pnbhousing [dot] com
Delhi 1800-120-8800, loans [at] pnbhousing [dot] com
Durg 1800-120-8800, loans [at] pnbhousing [dot] com
Faridabad 1800-120-8800, loans [at] pnbhousing [dot] com
Gandhinagar 1800-120-8800, loans [at] pnbhousing [dot] com
Ghaziabad 1800-120-8800, loans [at] pnbhousing [dot] com
Goa 1800-120-8800, loans [at] pnbhousing [dot] com
Greater Noida 1800-120-8800, loans [at] pnbhousing [dot] com
Gurgaon 1800-120-8800, loans [at] pnbhousing [dot] com
Guwahati 1800-120-8800, loans [at] pnbhousing [dot] com
Gwalior 1800-120-8800, loans [at] pnbhousing [dot] com
Hyderabad 1800-120-8800, loans [at] pnbhousing [dot] com
Indore 1800-120-8800, loans [at] pnbhousing [dot] com
Jabalpur 1800-120-8800, loans [at] pnbhousing [dot] com
Jaipur 1800-120-8800, loans [at] pnbhousing [dot] com
Jalandhar 1800-120-8800, loans [at] pnbhousing [dot] com
Jodhpur 1800-120-8800, loans [at] pnbhousing [dot] com
Kanpur 1800-120-8800, loans [at] pnbhousing [dot] com
Karnal 1800-120-8800, loans [at] pnbhousing [dot] com
Kolhapur 1800-120-8800, loans [at] pnbhousing [dot] com
Kolkata 1800-120-8800, loans [at] pnbhousing [dot] com
Kota 1800-120-8800, loans [at] pnbhousing [dot] com
Kozhikode 1800-120-8800, loans [at] pnbhousing [dot] com
Lucknow 1800-120-8800, loans [at] pnbhousing [dot] com
Ludhiana 1800-120-8800, loans [at] pnbhousing [dot] com
Madurai 1800-120-8800, loans [at] pnbhousing [dot] com
Meerut 1800-120-8800, loans [at] pnbhousing [dot] com
Mehsana 1800-120-8800, loans [at] pnbhousing [dot] com
Mohali Sas Nagar 1800-120-8800, loans [at] pnbhousing [dot] com
Mumbai 1800-120-8800, loans [at] pnbhousing [dot] com
Mussoorie 1800-120-8800, loans [at] pnbhousing [dot] com
Nagpur 1800-120-8800, loans [at] pnbhousing [dot] com
Nashik 1800-120-8800, loans [at] pnbhousing [dot] com
Noida 1800-120-8800, loans [at] pnbhousing [dot] com
Noida Extn 1800-120-8800, loans [at] pnbhousing [dot] com
Panipat 1800-120-8800, loans [at] pnbhousing [dot] com
Patna 1800-120-8800, loans [at] pnbhousing [dot] com
Pondicherry 1800-120-8800, loans [at] pnbhousing [dot] com
Pune 1800-120-8800, loans [at] pnbhousing [dot] com
Raipur 1800-120-8800, loans [at] pnbhousing [dot] com
Rajkot 1800-120-8800, loans [at] pnbhousing [dot] com
Ranchi 1800-120-8800, loans [at] pnbhousing [dot] com
Rohtak 1800-120-8800, loans [at] pnbhousing [dot] com
Roorkee 1800-120-8800, loans [at] pnbhousing [dot] com
Salem 1800-120-8800, loans [at] pnbhousing [dot] com
Shimla 1800-120-8800, loans [at] pnbhousing [dot] com
Sonepat 1800-120-8800, loans [at] pnbhousing [dot] com
Surat 1800-120-8800, loans [at] pnbhousing [dot] com
Trichy 1800-120-8800, loans [at] pnbhousing [dot] com
Udaipur 1800-120-8800, loans [at] pnbhousing [dot] com
Vadodara 1800-120-8800, loans [at] pnbhousing [dot] com
Varanasi 1800-120-8800, loans [at] pnbhousing [dot] com
Vijaywada 1800-120-8800, loans [at] pnbhousing [dot] com
Vizag 1800-120-8800, loans [at] pnbhousing [dot] com
Pnb Housing Finance Home Loan Interest Rate
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