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PNB Loan Against Property Interest Rate Calculator - Sep 2017

Last Updated 19th Sep 2017

PNB Loan Against Property Interest Rates

Interest Rate 9.90% - 14.15%
Check Best Offers
Lowest EMI Rs. 1,316 per lakh
Max Tenure 10 years
Processing Fee Upto 0.90%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans to individuals
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Loan Against Property @ 8.50%*
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PNB Loan Against Property

PNB offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 50% of the market’s value for tenure of 10 years.

Loan Against Property PNB

Loan Against Property interest rates offered by PNB depends upon MCLR

  • Floating rates changes with a single change in PNB 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 Property Loan based on 1 Year MCLR which is currently 8.15%

PNB mortgage loan interest rate depends upon
  • Loan amount: PNB mortgage loan rate 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 Loan Against Property. 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

Loan Against Property Charges

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 loan against property with Nil prepayment charges

Processing Fee - PNB asks for a processing fee of 0.90% of loan amount with applicable service tax

PNB Loan Against Property EMI Calculator

Loan Against Property EMI of PNB is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure

  • PNB Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
  • 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 Loan Against Property EMI?
  • PNB Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • PNB EMI calculator for Loan Against Property 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 Loan Against Property Eligibility Calculator

Loan Against Property eligibility criteria PNB

Eligibility of Loan Against Property 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: PNB offers loan against property for a maximum tenure of 10 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
  • Value of the property: PNB decides your loan amount based on the market value of the property which you place as your collateral for the loan. PNB lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. PNB gives maximum LTV of 50% for property loans depending upon market value of the property
  • Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. PNB checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. PNB does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
    To reduce your burden of higher EMIs, PNB gives you a maximum tenure of 10 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 1 Year MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility
  • Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings

PNB Floating Rate Loan Against Property

PNB Loan Against Property Floating
Upto Rs. 2,500,000 - 9.90%
Rs. 2,500,001 - 7,500,000 - 9.90%
Rs. 7,500,001 - 15,000,000 - 9.90%
Above Rs. 15,000,000 - 9.90% linked to 1 Year MCLR

PNB Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to PNB?

PNB offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of PNB
You can avail additional top-up loan against property from SBI, subject to your eligibility

Loan Against Property PNB documents required

Loan Against Property 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

Loan Against Property 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

Property documents for Loan Against Property from PNB

  • Registered Sale Deed/ Conveyance/ Lease Deed
  • Past Sale Deeds Chain (each transaction in respect of this property since first allotment
  • Latest House Tax Return/ Receipt
  • Approved Building Plan from Municipal Corporation

Frequently Asked Questions

What are the five things to check before applying for loan against property in PNB ?
  • Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
  • Your existing EMI’s on all loans and credit cards (from PNB and other banks) are no more than 60 - 70% of your net monthly income
  • You have not defaulted on loans or credit card dues to PNB and other banks and all EMI's have been paid. Note that PNB can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to PNB in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
  • If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
  • If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available
Will PNB mortgage loan interest rate remain fixed or will it change in future?
  • Floating interest rate on PNB property loan is linked to its 1 Year MCLR, which is currently 8.15%. So, when PNB offers a loan against property at 9.90%, it applies a 1.75% premium to its MCLR to arrive at this rate
  • When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
  • Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
  • Current MCLR of PNB, its past trend and comparison with RBI repo rate are given here for your reference
Are prepayment or foreclosure charges applicable on PNB loan against property?
    You can prepay loan against property (LAP) without any penalty or charges in case:
  • Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
  • The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP

For loans from banks and NBFC's, refer to RBI circulars RBI/ 2013-14/ 582/ DBOD. Dir. BC. No. 110 /13.03.00/ 2013-14 dated May 7, 2014 and RBI/ 2014-15/121/ DNBS(PD). CC. No. 399/ 03.10.42/ 2014-15 dated July 14, 2014 for more details.

For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.

Please contact myloancare at 0124-4603660 or care@myloancare.in in case you need any assistance or clarification on this subject.

PNB Loan Against Property in India

PNB Loan Against Property 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 Loan Against Property

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*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. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.