PNB Loan Against Property Interest Rate Calculator - Jan 2017

PNB Loan Against Property Interest Rates

Last Updated 16th Jan 2017
PM announces upto 4 percent subsidy on home loan. Read more
Interest Rate 10.90% - 15.15%
Check Special Offers
Lowest EMI Rs. 1,372 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 Online @9.85%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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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 18 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 8.45%
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 18 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 18 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
Estimated eligibility online by using Eligibility Calculator.

PNB Floating Rate Loan Against Property

PNB Loan Against Property Floating
Upto Rs. 2,500,000 - 10.90%
Rs. 2,500,001 - 7,500,000 - 10.90%
Rs. 7,500,001 - 15,000,000 - 10.90%
Above Rs. 15,000,000 - 10.90% 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
Past trends of MCLR of PNB
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
01st Oct 15 9.60% decreased by 0.4%
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
07th May 15 10.00% decreased by 0.25%
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
28th Jan 14: 0.25% repo hike by RBI
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
09th Feb 13 10.25% decreased by 0.25%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 10.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
01st Aug 11 10.75% increased by 0.75%
26th Jul 11: 0.5% repo hike by RBI
16th Jun 11: 0.25% repo hike by RBI
05th May 11 10.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
01st Feb 11 9.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
13th Dec 10 9.00% increased by 0.5%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 8.50% increased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 8.00%

PNB MCLR Vs. RBI Repo Rate Trend

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 8.45%. So, when PNB offers a loan against property at 10.90%, it applies a 2.45% 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 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 426 4004 or 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,
Ahmedabad 011-23318130,
Ambala 011-23318130,
Anand 011-23318130,
Aurangabad 011-23318130,
Bangalore 011-23318130,
Bhilai 011-23318130,
Bhilwara 011-23318130,
Bhiwadi 011-23318130,
Bhopal 011-23318130,
Bhubaneswar Cuttack 011-23318130,
Bikaner 011-23318130,
Chandigarh 011-23318130,
Chennai 011-23318130,
Cochin 011-23318130,
Coimbatore 011-23318130,
Dehradun 011-23318130,
Delhi 011-23318130,
Durg 011-23318130,
Faridabad 011-23318130,
Gandhinagar 011-23318130,
Ghaziabad 011-23318130,
Goa 011-23318130,
Greater Noida 011-23318130,
Gurgaon 011-23318130,
Guwahati 011-23318130,
Gwalior 011-23318130,
Hyderabad 011-23318130,
Indore 011-23318130,
Jabalpur 011-23318130,
Jaipur 011-23318130,
Jalandhar 011-23318130,
Jodhpur 011-23318130,
Kanpur 011-23318130,
Karnal 011-23318130,
Kolhapur 011-23318130,
Kolkata 011-23318130,
Kota 011-23318130,
Kozhikode 011-23318130,
Lucknow 011-23318130,
Ludhiana 011-23318130,
Madurai 011-23318130,
Meerut 011-23318130,
Mehsana 011-23318130,
Mohali Sas Nagar 011-23318130,
Mumbai 011-23318130,
Mussoorie 011-23318130,
Nagpur 011-23318130,
Nashik 011-23318130,
Noida 011-23318130,
Noida Extn. 011-23318130,
Panipat 011-23318130,
Patna 011-23318130,
Pondicherry 011-23318130,
Pune 011-23318130,
Raipur 011-23318130,
Rajkot 011-23318130,
Ranchi 011-23318130,
Rohtak 011-23318130,
Roorkee 011-23318130,
Salem 011-23318130,
Shimla 011-23318130,
Sonepat 011-23318130,
Surat 011-23318130,
Trichy 011-23318130,
Udaipur 011-23318130,
Vadodara 011-23318130,
Varanasi 011-23318130,
Vijaywada 011-23318130,
Vizag 011-23318130,
PNB Loan Against Property News - Jan 2017
02nd Jan 17 PNB reduces MCLR by 70 basis points
Punjab National Bank has reduced its overnight and three month marginal cost of lending rates by 70 basis points to 8.20 and 8.25 percent as compared to 8.90 and 8.95 percent earlier. The revised MCLR for six months and one year now stands at 8.40 and 8.45 percent respectively. Similarly, five year MCLR has reduced to 8.75 percent as compared to 9.45 percent earlier. The rates are effective from 1st January, 2017.
09th Dec 16 PNB organizes financial literacy cum Digital Banking camp
Punjab National Bank organised an awareness camp on Digital Banking. The camp was held at the branch of village Kotli Jabowal, Arnia on Indo-Pak border. The focus of the camp was to spread awareness about the benefits of opening a saving account and using digital banking applications.
07th Dec 16 PNB partners with Ola to deploy mobile ATMs
Punjab National Bank has announced partnership with Ola (Cab aggregators) to facilitate cash withdrawal to citizens via mobile ATM machines. The bank will deploy mobile ATM machines in Ola cabs that will initially target the area around Delhi and NCR.
01st Dec 16 Punjab National Bank reduces its MCLR up to 10 bps
Punjab National Bank has reduced its overnight and six months marginal cost of lending rates to 8.90 and 9.10 percent from 9 and 9.20 percent earlier. Minimum MCLR rates for one year and five year tenure are also reduced by 10 basis points to 9.15 and 9.45 percent from 9.25 and 9.50 percent respectively. New rates are effective from 1st December, 2016.
11th Nov 16 PNB to calibrate their 10,000 ATMs by the end of the month to disburse new notes
Punjab National Bank plans to adjust their 10,000 ATM machines to disburse new currency notes of Rs. 500 and Rs. 2,000 by the end of the month. The step is taken after Prime Minister announced the demonetization of Rs. 500 and Rs. 1,000 notes to remove black money from the economy.
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