Punjab National Bank (PNB) home loan interest rates start at 6.55%. The maximum loan amount that can be given under PNB housing loan is Rs 1 crore. PNB offers a variety of home loan schemes to individuals. The loan schemes of this bank come with features like long loan repayment tenure, quick application approval. Apart from this, the bank also gives an interest subvention of 0.05% to the women applicants.
The figures in the table are indicative and subject to change under the loan schemes offered by Punjab National Bank or RBI policy.
Note: Punjab National Bank is not a partner of All Bank Home Loan, the offer will be on behalf of partner bank / NBFC only.
Features and Benefits of Punjab National Bank Home Loan
- Various home loan schemes to suit the fund requirements of each customer
- Attractive repo-linked home loan interest rates start at 6.55%.
- The loan amount available is up to Rs.1 crore.
- Pay periods are up to 30 years.
- There is no penalty/prepayment penalty for premature repayment of floating rate home loan.
- Overdraft and top-up facility for all borrowers.
- Multiple loan repayment options as per the requirements of the customers.
PNB Home Loan Interest Rates
PNB home loan interest rates start at 6.55% linked to the current repo rate, which is the lowest home loan interest rate in India. The Repo Linked Lending Rate (RLLR) of PNB is 7.80% with effect from 05.10.2019. For existing borrowers, the 1-year Marginal Cost of Funds Based Lending Rate (MCLR) offered by PNB is 8.15%.
Note: With effect from 1st October 2019, RBI has made it mandatory for all banks to link their retail and MSME lending rates with the repo rate.
Compare PNB Home Loan Interest Rates for Various Loan Schemes
- Women should be the sole applicant or co-applicant for the home loan and should be the sole owner or co-owner of the property for which the loan is being taken.
- PNB PRIDE is for Central/State Government Employees/Defence Personnel and Para Military Forces.
- PNB Max Saver is a housing loan in the form of an overdraft with reducing drawing power.
PNB Home Loan Processing Fees and Charges
Apart from PNB home loan interest rates, Punjab National Bank home loan also includes some other charges. Some of these fees and charges are:
Note: The figures in the table are indicative and subject to change without prior notice.
PNB Home Loan EMI Calculator
Home loans are of large amount and the repayment period is usually up to 30 years. If not managed properly, repayment of home loan can lead to financial trouble in the long run, increasing the chances of home loan default. The online home loan calculator helps the user to know the EMI of the home loan before availing it, thereby helping them to plan their budget for the entire loan tenure, thus ensuring timely loan repayment. Home loan calculator is easy to use and gives accurate results.
The EMI of PNB housing loan depends on factors like interest rate, loan amount and loan tenure. The table below shows the change in home loan EMI due to change in loan amount and loan tenure. The home loan interest rate is stable at 7.90% p.a. for all scenarios.
In the table, one can see that the home loan EMI increases with the increase in the loan amount. Also, as the tenure of the loan increases, the EMI of the loan decreases. But always keep in mind that increasing the loan tenure may reduce your monthly installment, but it will also increase the overall interest payment.
PNB Home Loan: Eligibility Conditions
PNB offers several home loan products, each with its own eligibility criteria. Customers planning to apply for a PNB home loan should be aware of the home loan eligibility conditions to avoid any loan rejection. Below are the general PNB home loan eligibility conditions:
Punjab National Bank Home Loan Documents Required
PNB Home Loan Documents for Employed:
- Home loan application form with one passport size photograph
- Identity Proof like Aadhar Card, PAN Card, Passport, Driving License and Voter ID Card
- Residence proof like Aadhar Card, Passport, Driving License and Voter ID
- Age Proof like Aadhar Card, PAN Card, Passport, Birth Certificate, Driving License and Voter ID
- proof of educational qualification
- Income Proof: Salary Certificate / Income Tax Return issued by the company
- Bank statement of salary account for the last 6 months
Documents for Punjab National Bank Home Loan Self Employed:
- Home loan application form with one passport size photograph
- Identity Proof like Aadhar Card, PAN Card, Passport, Driving License and Voter ID Card
- Residence proof like Aadhar Card, Passport, Driving License and Voter ID
- Age Proof like Aadhar Card, PAN Card, Passport, Birth Certificate, Driving License and Voter ID
- proof of educational qualification
- Proof of Income for Farmer: Land record and cropping pattern or any other proof of income
- Other Proof of Income for Self Employed: Income Tax Return or Assessment Order for last 3 years and computation of income statement
- Bank account details of last 6 months
Additional Documents:
- Income proof of spouse/children of joint borrower (if applicable)
- property documents as required
PNB Home Loan Schemes
Punjab National Bank offers a wide range of home loan products including PNB Max Saver, PNB Flexible Housing Loan and PNB Pride Housing Loan. The bank offers a home loan of Rs 75 lakh. Its attractive interest rate starts from 7.90%.
- Housing Loan for Public
- PNB Max Saver
- PNB Pride Housing Loan
- PNB Gen-Next Housing Finance Scheme for Public
- Pradhan Mantri Awas Yojana-CLSS
(1) Housing Loan for Public :
The 'Housing Loan for Public' housing loan scheme can be availed for construction of house/flat, purchase of new house/flat, repair of existing house/flat and purchase of residential land/plot.
(2) PNB Max Saver
PNB Max Saver is a housing loan in the form of overdraft. The loan scheme provides the benefit of substantial savings on home loan interest. Applicants can deposit their excess amount in the overdraft account and withdraw as per their choice and requirement. Customers can avail the scheme for all purposes under housing finance scheme except purchase of land/plot.
The existing home loan borrower wishing to avail loan under this type should have a regular home loan account, no dues, complete disbursement and start repayment.
Fees like stamp duty, registration fee and other document charges will be paid by the applicant and will not be considered as margin money. However, such charges may be added to the cost of the house/dwelling unit where the cost of the house/dwelling unit exceeds Rs. It is not more than that.
(3) PNB Pride Housing Loan
PNB Pride Housing Loan is for permanent central and state government employees, defense personnel and paramilitary forces. Eligible customers can apply for the loan individually or jointly. It can be availed for purchase of new house/plot/flat, construction of new house, repair of existing house.
Fees like stamp duty, registration fee and other document charges will be paid by the applicant and will not be considered as margin money. However, such charges may be added to the cost of the house/dwelling unit where the cost of the house/dwelling unit exceeds Rs. It is not more than that.
(4) PNB Gen-Next Housing Finance Scheme for Public
This loan product is meant for the new generation of salaried category borrowers and PSBs/PSUs/Government employees. Loans can be taken to buy a house and build a house. PNB home loan borrowers should get at least an amount equal to the loan amount insured.
- Fees like stamp duty, registration fee and other document charges will be paid by the applicant and will not be considered as margin money. However, such charges may be added to the cost of the house/dwelling unit for computing the LTV ratio in cases where the cost of the house/dwelling unit exceeds Rs.10 lakh. It is not more than that.
- In case of multiple applicants, whose income is taken to meet the conditions of loan eligibility and repayment capacity, the applicant should be at least 40 years of age and others 45 years of age. Further, where the income of the applicants is not being taken for loan eligibility and they are the owner/co-owner of the property, they will have to make a co-applicant under the scheme without mentioning their age.
(5) PNB Pradhan Mantri Awas Yojana – Credit Linked Subsidy (PMAY-CLSS)
PMAY-CLSS is a government scheme, which provides interest subsidy on housing loans. Beneficiary families falling under the income group – Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group (MIG) – Rs 2.67 lakh under PMAY scheme through PNB. Any individual can avail subsidy amount up to Rs.
PNB Home Loan Customer Care
To resolve your PNB Housing Loan related queries or complaints, customers can contact the bank in the following ways:
PNB Official Website
Customers can register their complaints or submit the duly filled CGRMS form on the Bank's website. Click here to get started with the process.
PNB Home Loan Customer Care Number
Customers can also call on the following numbers to register their complaints or resolve any query:
1. PNB Home Loan Toll-Free Customer Care Number
1800 180 2222
1800 103 2222
2. PNB Home Loan Other Customer Care Number
Toll Number: 0120-2490000
Landline: 011-28044907
3. PNB Home Loan Customer Care Email ID : care@pnb.co.in
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