PNB Loan Against Property Interest Rate Calculator - Dec 2016

PNB Housing Finance Loan Against Property Interest Rates

Last Updated 10th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 10.75% - 11.25%
Check Special Offers
Lowest EMI Rs. 1,121 per lakh
Max Tenure 15 years
Processing Fee Upto 2.00%
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
 Salaried   Self Employed - Professional   Self Employed - Business 





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PNB Housing Finance Loan Against Property

PNB Housing Finance 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 Housing Finance depends upon PLR
  • Floating rates changes with a single change in PNB Housing Finance PLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
PNB Housing Finance offers Property Loan based on PLR which is currently 14.35%
PNB Housing Finance mortgage loan interest rate depends upon
  • Loan amount: PNB Housing Finance 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 Housing Finance 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 Housing Finance 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 Housing Finance allows prepayment of loan against property with 3% prepayment charges
Processing Fee - PNB Housing Finance asks for a processing fee of 2.00% of loan amount with applicable service tax

PNB Loan Against Property EMI Calculator

Loan Against Property EMI of PNB Housing Finance is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
  • PNB Housing Finance 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 Housing Finance Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
  • PNB Housing Finance 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 Housing Finance
Eligibility of Loan Against Property in PNB Housing Finance 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 Housing Finance 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 Housing Finance decides your loan amount based on the market value of the property which you place as your collateral for the loan. PNB Housing Finance 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 Housing Finance 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 Housing Finance 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 Housing Finance 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 Housing Finance gives you a maximum tenure of 18 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over PLR. 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.
Popular Products:
  • Loan Against Lease Rental Discounting
  • Mortgage Loan for Personal Use
  • Loan Against Property for Business Use

PNB Housing Finance Floating Rate Loan Against Property

PNBHFL Loan Against Property Floating
Upto Rs. 3,000,000 - 10.75%
Rs. 3,000,001 - 7,500,000 - 10.75%
Rs. 7,500,001 - 10,000,000 - 10.75%
Above Rs. 10,000,000 - 10.75% linked to PLR

PNB Housing Finance Loan Against Property Top up, Transfer

Transfer of Loan Against Property from another bank to PNB Housing Finance?
PNB Housing Finance offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of PNB Housing Finance
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 Housing Finance 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 Housing Finance 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 Housing Finance

  • 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 PLR of PNB Housing Finance
Date PLR
04th Oct 16: 0.25% repo cut by RBI
05th Apr 16: 0.25% repo cut by RBI
29th Sep 15: 0.5% repo cut by RBI
02nd Jun 15: 0.25% repo cut by RBI
27th Apr 15 14.35% decreased by 0.15%
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 14.50% increased by 0.5%
29th Jan 13: 0.25% repo cut by RBI
01st May 12 14.00% 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 14.25% 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 13.50% 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 13.00% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
08th Dec 10 12.50% increased by 0.75%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 11.75% increased by 0.75%
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 11.00%

PNB PLR 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 Housing Finance 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 Housing Finance and other banks and all EMI's have been paid. Note that PNB Housing Finance can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to PNB Housing Finance 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 Housing Finance loan against property is linked to its PLR, which is currently 14.35%. So, when PNB Housing Finance offers a loan against property at 10.75%, it applies a 3.6% discount to its PLR to arrive at this rate
    • In case the interest rates in the market move up by 0.50%, PNB Housing Finance may increase its PLR by 0.50% to 14.85%, thereby increasing the applicable rate for both old customers and new customers to 11.25%
    • In case the interest rates in the market trend down by 0.50%, it may do one of the following. It may choose to reduce the PLR by 0.50% from 14.35% to 13.85%, thereby reducing the applicable interest rate for both new and old customers to 10.25%. Alternatively, it may choose to keep the PLR unchanged at 14.35% and increase the discount for new customers to 4.1% instead of 3.6% for old customers. So, the old customers will continue to pay the old interest of 10.75% while the new customers will get loan against property at 10.25%. The decision whether to pass on the benefit on lower rates to both new and old customers or only to new customers is that of the lender and cannot be predicted in case of PLR benchmarked loans
    • It has been observed that customers often complain that applicable rate of interest on PLR benchmarked loans tends to go up in line with market rates but rarely goes down when rates go down. However, since there is no prepayment or foreclosure charge on floating rate loan against property, customers may choose to transfer the loan to a new lender and thus save interest cost. MyLoanCare has helped customers save Rs. 98556874 so far by refinancing their loans at lower rates. Base rate benchmarked loans offer a more transparent mechanism for transmission of interest rates and appear to be more favorable option for the borrowers
    • Current PLR of PNB Housing Finance, 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 care@myloancare.in in case you need any assistance or clarification on this subject.

PNB Housing Finance Loan Against Property in India

PNB Housing Finance Loan Against Property Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-120-8800, loans@pnbhousing.com
Ahmedabad 1800-120-8800, loans@pnbhousing.com
Ambala 1800-120-8800, loans@pnbhousing.com
Anand 1800-120-8800, loans@pnbhousing.com
Aurangabad 1800-120-8800, loans@pnbhousing.com
Bangalore 1800-120-8800, loans@pnbhousing.com
Bhilai 1800-120-8800, loans@pnbhousing.com
Bhilwara 1800-120-8800, loans@pnbhousing.com
Bhiwadi 1800-120-8800, loans@pnbhousing.com
Bhopal 1800-120-8800, loans@pnbhousing.com
Bhubaneswar Cuttack 1800-120-8800, loans@pnbhousing.com
Bikaner 1800-120-8800, loans@pnbhousing.com
Chandigarh 1800-120-8800, loans@pnbhousing.com
Chennai 1800-120-8800, loans@pnbhousing.com
Cochin 1800-120-8800, loans@pnbhousing.com
Coimbatore 1800-120-8800, loans@pnbhousing.com
Dehradun 1800-120-8800, loans@pnbhousing.com
Delhi 1800-120-8800, loans@pnbhousing.com
Durg 1800-120-8800, loans@pnbhousing.com
Faridabad 1800-120-8800, loans@pnbhousing.com
Gandhinagar 1800-120-8800, loans@pnbhousing.com
Ghaziabad 1800-120-8800, loans@pnbhousing.com
Goa 1800-120-8800, loans@pnbhousing.com
Greater Noida 1800-120-8800, loans@pnbhousing.com
Gurgaon 1800-120-8800, loans@pnbhousing.com
Guwahati 1800-120-8800, loans@pnbhousing.com
Gwalior 1800-120-8800, loans@pnbhousing.com
Hyderabad 1800-120-8800, loans@pnbhousing.com
Indore 1800-120-8800, loans@pnbhousing.com
Jabalpur 1800-120-8800, loans@pnbhousing.com
Jaipur 1800-120-8800, loans@pnbhousing.com
Jalandhar 1800-120-8800, loans@pnbhousing.com
Jodhpur 1800-120-8800, loans@pnbhousing.com
Kanpur 1800-120-8800, loans@pnbhousing.com
Karnal 1800-120-8800, loans@pnbhousing.com
Kolhapur 1800-120-8800, loans@pnbhousing.com
Kolkata 1800-120-8800, loans@pnbhousing.com
Kota 1800-120-8800, loans@pnbhousing.com
Kozhikode 1800-120-8800, loans@pnbhousing.com
Lucknow 1800-120-8800, loans@pnbhousing.com
Ludhiana 1800-120-8800, loans@pnbhousing.com
Madurai 1800-120-8800, loans@pnbhousing.com
Meerut 1800-120-8800, loans@pnbhousing.com
Mehsana 1800-120-8800, loans@pnbhousing.com
Mohali Sas Nagar 1800-120-8800, loans@pnbhousing.com
Mumbai 1800-120-8800, loans@pnbhousing.com
Mussoorie 1800-120-8800, loans@pnbhousing.com
Nagpur 1800-120-8800, loans@pnbhousing.com
Nashik 1800-120-8800, loans@pnbhousing.com
Noida 1800-120-8800, loans@pnbhousing.com
Noida Extn. 1800-120-8800, loans@pnbhousing.com
Panipat 1800-120-8800, loans@pnbhousing.com
Patna 1800-120-8800, loans@pnbhousing.com
Pondicherry 1800-120-8800, loans@pnbhousing.com
Pune 1800-120-8800, loans@pnbhousing.com
Raipur 1800-120-8800, loans@pnbhousing.com
Rajkot 1800-120-8800, loans@pnbhousing.com
Ranchi 1800-120-8800, loans@pnbhousing.com
Rohtak 1800-120-8800, loans@pnbhousing.com
Roorkee 1800-120-8800, loans@pnbhousing.com
Salem 1800-120-8800, loans@pnbhousing.com
Shimla 1800-120-8800, loans@pnbhousing.com
Sonepat 1800-120-8800, loans@pnbhousing.com
Surat 1800-120-8800, loans@pnbhousing.com
Trichy 1800-120-8800, loans@pnbhousing.com
Udaipur 1800-120-8800, loans@pnbhousing.com
Vadodara 1800-120-8800, loans@pnbhousing.com
Varanasi 1800-120-8800, loans@pnbhousing.com
Vijaywada 1800-120-8800, loans@pnbhousing.com
Vizag 1800-120-8800, loans@pnbhousing.com
PNB Loan Against Property News - Dec 2016
12th May 16 PNB Loan Against Property Rate Cut
PNB Housing Finance has reduced interest rates on PNB Loan against property effective May 9th 2016. PNB will now offer property loans at floating rate of 11.25% onwards. Fixed rate options from PNB are now available at 11.15% onwards for 3, 5 or 10 years fixed period.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.