PNB Housing Finance Home Loan

PNB housing finance home loans are secured loans designed to cater to diversified needs of housing finance in India. The loan is offered for purchase of a new house, home renovation, extension etc. PNB housing finance limited is company incorporated under the Companies Act 1956. PNB HFL started its operations in November of 1988. PNB Housing Finance Limited has more than twenty years of experience in extending home loan facilities to the people. PNB has branches all across the nation to help customers avail the benefits of financial products and services.

Individuals and corporate houses can borrow a home loan from PNB HFL to construct, purchase, repair and upgrade houses. Other services include commercial property loans, loan against property & lease rental discounting.

Interest Rates   7.35% to 9.10%
Loan Amount Loan up to 90% of Project cost
Processing Fees Up to 1% of the Loan amount
Penal Interest Rate 2% per month
Prepayment/Foreclosure Charges Nil for floating Interest rate
Max Tenure 30 Years
EMI  727 Per Lakh

Why PNB HFL Home Loan?

Here are some of the key reasons why one should opt for PNB HFL Home Loan:

  1. Branches across the nation: PNB HFL has a large number of branches across the length and breadth of the nation.
  2. Loan for all purposes: PNB HFL provides various types of home loans such as purchase/ construction/ extension/ improvement of property and plot loans.
  3. Fast approvals: It is the most impressive part of PNB HFL Home Loan. The bank provides almost instant home loan approval.
  4. Quick disbursal: The loan amount is instantaneously transferred to your bank account without any hassle.
  5. Post disbursement services: After a loan is sanctioned, there may be some discrepancies or demands of the customers. For example, a person that wants to change the name of a co-applicant. PNB HFL provides assistance to the customers for all these purposes.
  6. Repayment options: Ways to repay the loan are diverse. You will not face any problem as there are a bunch of repayment mechanisms.
All About PNB HFL Home Loan 

Loan tenure

  • Up to 30 years

Loan amount

  • 20 lakh - 20 crore

Loan turnaround period

  • 8 - 15 days

Loan to value (LTV)

  • Ranges from 75% to 90% of property value

Who can apply?

  • Self-employed professionals
  • Salaried individuals
  • NRI's
  • Indian residents

Co - applicants

  • Up to 4 applicants are allowed

Processing fee

  • 0.25% - 0.50%

Types of PNB HFL Home Loans

PNB HFL offers the following types of home loans to its customers:

  1. Home Purchase Loan: The aim of this loan is to provide loans for purchase, construction and extension of dwelling units.

  2. Home construction loan: This type of loan is suitable for applicants who already own land and intend to build a residential house property on the land.

  3. Home extension loan:This loan is suitable for individuals who want make additions to their existing house property in the wake of their growing family needs.

  4. Home improvement loan: Home improvement loan is intended for customers who want to improve their existing house property. Home improvement loan covers complete renovation, repair, water proofing, tiling and flooring, plumbing, electrical work and false ceiling and woodwork attached to the building.

  5. Residential Plot Loan: Residential Plot Loan from PNB Housing is provided for the construction or purchase of residential plot in an urban area.

  6. Loan for NRIs: PNB Housing provides a wide range of home loan options to its NRIs customers as well. NRIs can avail home loan from PNB Housing for purchase, construction, extension of their residential property in India.

  7. Unnati Home Loans: PNB Housing provides their support in the hard time of their customers by providing Unnati Home Loans in India. Under Unnati Home Loan, the maximum loan amount can be 25 lakhs which will be subject to 90% of the market value of the property. Also, it comes with a rate of interest starting at 10.75% p.a.

  8. PradhanMantriAwasYojana: Pradhan Mantri AwasYojana (PMAY) is a credit linked subsidy scheme for EWS (Economical Weaker Section), LIG (Lower Income Group), MIG (Middle Income Group). This scheme was announced by our honourable Prime Minister Sh. NarendraModi. This scheme is meant for first time home buyers and comes with an interest subsidy benefit which is calculated for 20 years.

PNB HFL Home Loan Interest Rates

*New festive rates will be with effect from 26th October 2020 till 20th January 2021.

Floating rate:

Floating Scheme Normal Home Loans
Credit Score(Any Loan Amount) Salaried < 35 Lakh Self - Employed < 35 Lakh Salaried > 35 Lakh Self - Employed > 35 Lakh
Less than Zero 8.65% 8.95% 8.80% 9.10%
upto 650 8.65%  8.95% 8.80% 9.10%
650 to 700 8.35% 8.60% 8.80% 8.80%
700 to 750 7.99% 8.35% 8.55% 8.55%
750 to 800 7.80% 8.30% 7.99% 8.45%
800 7.35% 7.55% 7.70% 7.90%
Floating Scheme "UNNATI" Home Loans
Credit Score(Any Loan Amount) Salaried/self-employed professional Self-employed
Less than Zero 10.75% 12.00%
Upto 650 10.75% 12.00%
650 to 700 10.75% 12.00%
700 to 750 10.75% 12.00%
750 to 800 10.75% 12.00%
800 10.75% 12.00%
  1. Cases approved under special program will be charged higher rates above the existing grid (except Unnati cases) as follows: Banking (+0.25%), LIP (+0.50%) and Rental Income Program (+0.50%)
  2. Plot Purchase (not classified as Plot Purchase + Construction) will be charged 1% higher rates above the existing "Home Loan" grid.
  3. Home Improvement Loan up to 25% of the IHL sanction amount will be priced at "Home Loan" card rates.
  4. Stand-alone Home improvement loans up to 25 Lakh will be at "Home Loan" card rates.
  5. Home Extension (HEL) will be at Home Loan Rates of interest.
  6. Top-up Loans will be priced as per the card rates of "Non-Home Loan".

*Interest rates are subject to change without prior information. Interest rates depend on various factors:

  • Loan amount: Higher the loan amount, lower will be the interest rates.

  • Your salary: Bank's rate varies with your monthly income. Higher the income, lesser will be the rate.

  • Type of loan: PNB HFL offers different rates for different borrowers. Special and popular loan products may have a fluctuating interest rate.

  • Existing customers: borrowers who are customers of PNB may have a low rate of interest because of their existing relationship with the bank.

PNB HFL Home Loan Processing Fees, Other Charges


Loan Processing Charges (Non-refundable)

Up to 1% of loan + applicable service tax

Foreclosure charges

Zero prepayment/ foreclosure charges.


PNB HFL Home Loan Eligibility Criteria

There are a number of factors that determine your eligibility for a home loan. Basic rules for salaried as well as self-employed individuals to determine eligibility are the same. PNB HFL mandates that the applicant should be an Indian citizen or a person of Indian origin. Salaried individuals, self-employed professionals and self-employed non-professionals are eligible to take a home loan provided that they are Indian citizens or persons of Indian origin. Individual's age, financial position and present condition are taken into consideration when determining eligibility criteria.

  1. Your current income: Salaried employees have to present the bank statement of the last 6 months of the account where the salary is credited. Also, they need to submit salary slip of the last 3 months to complement it. Self-employed individuals need to generate the accounts and financial records of the last 12 months. The accounts and financial statements should reflect credits for products and services offered by them.
  2. Continuity of employment/business: Salaried employees can prove their continued employment easily. They just need to bring their ITR, Form 16 and Form 26AS to show continuity of employment. Financial statements like balance sheet, profit and loss statement are required by self-employed individuals to prove continuity of business. ITR is also required to complement the financial statements.
  3. Current obligations: An applicant may have an existing loan for which they are paying EMI's. These installments need to be considered for calculating eligibility for home loan.
  4. Credit history: Credit history of an applicant is of utmost importance to a bank to assess the credibility of the applicant. Bureaus like CIBIL are responsible for keeping a track of loan related activities of every borrower. CIBIL assess your credit history to generate your credit score. The score is a number generally between 300 and 900. Defaults in payments can substantially lower your CIBIL score. A CIBIL score above 600 is considered good and increases your chance of getting a loan.
  5. Value of the property: Value of the property is important to the financing bank and they usually finance not more than 90% of the value of the property. The balance is the margin for the bank and the balance is to be contributed by the borrower.
  6. Legal position: The prime security for any home loan is a mortgage of the land and building they have financed. The mortgaged property has to be registered with the respective authority. Banks rely on the reports furnished by the panel of advocates to establish an ownership chain.
  7. Age of the borrower:  Persons between 21 and 70 years of age are eligible to take PNB HFL home loan. The age criteria is same for both salaried and self-employed people.

Documents Required for PNB HFL Home Loan

Type of document Salaried individuals

Application form

  • Duly filled application form with photograph

Age proof

  • PAN card
  • Passport
  • Any other certificate from Statutory Authority

Residence proof

  • Passport/Driving License/Telephone Bill/Ration Card/ Voter ID Card/ Any other certificate from Statutory Authority

Educational qualifications

  • Latest degree

Income proof

  • Last 3-month Salary-slips
  • Last 2 years Form 16
  • Last 6 months bank statements (salary account)
  • Processing fee cheque in favor of PNB HFL
  • Photocopy of title documents of the property approved plan

Type of document Self-employed professionals

Application form

  • Duly filled application form with photograph

Age proof

  • PAN card
  • Passport
  • Any other certificate from Statutory Authority

Residence proof

  • Passport/Driving License/Telephone Bill/Ration Card/ Vote ID Card/ Any other certificate from Statutory Authority

Educational qualifications

  • Latest degree

Income proof

  • Certificate & Proof of business existence along with Business Profile

  • Last 3 years ITR (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant.

  • Last 12 months bank statements (self & business)
  • Processing fee cheque in favor of PNB HFL
  • Photocopy of title documents of the property, approved plan
Type of document Self-employed non-professionals

Application form

  • Duly filled application form with photograph

Age proof

  • PAN card
  • Passport
  • Any other certificate from Statutory Authority

Residence proof

  • Passport/Driving License/Telephone Bill/Ration Card/ Vote ID Card/ Any other certificate from Statutory Authority

Educational qualifications

  • Latest degree

Income proof

  • Certificate & Proof of business existence along with Business Profile
  • Last 3 years ITR (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant.

  • Last 12 months bank statements (self & business)

  • Processing fee cheque in favor of PNB HFL
  • Photocopy of title documents of the property, approved plan

Business profile

  • Nature of industry

Other Products by PNB HFL

  • Home Loan Balance Transfer
  • Loan Against Property
  • Lease rental discounting
  • Commercial property loan

Products by PNB HFL

PNB Housing Finance Limited is a subsidiary of Punjab National Bank. PNB is an Indian Multinational bank with its headquarters in New Delhi, India. PNB Housing Finance Limited is company incorporated under the Companies Act 1956. Below mentioned are the products and services of PNB HFL.

PNB Housing Products and Services

Commercial Property Loan

Loan against Property

Lease Rental Discounting

Loan for Real Estate Developers

Fixed Deposit


How to Calculate PNB HFL Home Loan EMI?

At MyMoneyMantra, customers get to experience an exclusive tool to calculate EMI's for all loans. The tool goes by the name EMI Calculator. It helps applicants to understand why choose PNB HFL for fulfilling their loan requirements. EMI calculator at MyMoneyMantra also lets you estimate the cost of home loan and helps you to plan your monthly budget accordingly.

Using the EMI calculator is very easy. You need to enter the loan amount along with the time period of the loan and the rate of interest. EMI calculator gives you the bifurcation of the entire loan tenure which in turn helps you to plan your EMI and tax obligation accordingly.

Why Apply for PNB HFL Home Loan on MyMoneyMantra?

Users can apply for a home loan on The loan application process is relatively easy and hassle free on MyMoneyMantra. MyMoneyMantra provides you the functionality to check your PNB HFL home loan eligibility and enlist customized home loan details. Customers looking for a home loan on MyMoneyMantra can enjoy the below mentioned features:

  • Instant Eligibility Check: Customers can find their loan eligibility instantly using the loan calculator tool of MyMoneyMantra.Apart from eligibility check, it gives you personalised loan offers.

  • Customized Quotes: Applicants eligible for a loan get customized quotes based on their CIBIL Score. Higher the CIBIL Score, the better it is for the customer.
  • E-Approval Facility: Every PNB HFL Home loan applicant at gets an instant e-approval after successfully submitting his or her loan application.

  • Hassle Free Documentation: Customers experience easy and hassle free documentation at MyMoneyMantra. This reduces the total turnaround time and helps customers to avail loan instantly.

  • Assured Privacy: MyMoneyMantraguarantees complete privacy for all PNB HFL Home loan applications made through MyMoneyMantra. MyMoneyMantra sends applications electronically to the concerned loan section of PNB HFL.

Not to forget that MyMoneyMantra is a specialist and will go through you profile thoroughly to assess your personal profile, credibility and past repayment records. MyMoneyMantra is well aware of the laws and compliances under which banks extend home loans.

How to Apply for PNB HFL Home Loan on MyMoneyMantra?

Applying for a Home Loan through MyMoneyMantra is very easy. Below is all the information required that an applicant should know before making an application:

  1. Go toMyMoneyMantra
  2. Choose home loan and enter amount of loan to proceed further
  3. Enter personal informationlike, gender, First Name and Last Name
  4. Enter city of residence
  5. There could be a number for reasons for taking a home loan and the borrower has to specify the reason for taking the loan. The loan may be for purchasing residential plot, purchasing residential ready property, purchasing residential plot and construction, residential under construction or home extension loan. Different types of loans have different procedures
  6. Select the city where the property is located
  7. Provide the estimated market value of the property
  8. Select type of employment which may be salaried or self-employed or self-employed professional
  9. Enter correct annual income
  10. Enter loan amount.
  11. You need to enter a few personal details like UIDAI number, ageetc
  12. Enter your e-mail id and mobile number
  13. Agree to the terms and conditions and proceed further
  14. Mymoneymantra will send an OTP to your number
  15. Enter the OTP and you will be redirected to a new page with home loans of all banks.Look for PNB HFL and click on the apply button right next to it.

PNB HFL Home Loan Customer Care

The customer care service is very competent and responsive. Apart from the toll free number, you can also drop your queries and complaints on their e-mail id. Customer care executives can speak English and Hindi fluently. The toll free number is active 24 x 7 for your service. In case you have mailed your grievance, you should expect a reply or a call back within 3 working days. Customers are generally very pleased and satisfied with the customer care department of PNB HFL.

PNB HFL Home Loan Latest News

PNB HFL Loan Moratorium for COVID Relief: Know FAQs, Terms & Conditions Here

The customers can choose to defer the principal as well as interest payment during the Moratorium period and ease the cash flow issues owing due to lockdown induced by COVID pandemic spread.Read More

09.05.2019: PNB Housing Finance profit up 51% at 380 crore

PNB Housing Finance Limited (PNBHFL) said on Thursday that its net interest income witnessed a growth of 13% to 609.7 crores in the quarter ending 31st March, 2019 from 540.8 crores in the corresponding period of the last fiscal year. While profit after tax increased by 51% to 379.7 crores from 251.6 crores, the spread on loans for fourth quarter FY18-19 stood at 2.59% as compared to 2.98% for the same quarter in FY 17-18.

HDFC, Kotak Bank eye PNB Housing Finance

25th June, 2018: HDFC Bank&Kotak Mahindra Bankare competing for a controlling stake in PNB Housing Finance as they aim to gain wider coverage in the mortgage market. Promoters Punjab National Bankand Carlyleare looking to sell their stake to a large investor, which own approximately 66% of the company together. The deal can earn them approximately 6000 crore each and the listed mortgage lender comes with a market capitalisation of 17,939 crore.

PNB Housing Finance Q1 profit jumps 50% to 255.80 crore

9th August, 2018: PNB Housing Finance on Thursday testified a growth of 50% in its net profit at 255.80 crore in first quarter of the current fiscal on healthy loan disbursements. The bank reported a net profit of 170.10 crore in the similar April-June period last year. Total income of the bank during the quarter jumped to 1,616.03 crore from 1,160.21 crore in the same period last year.The net interest margin fellto 2.74% in June quarter of 2018-19 as compared to 3.10% in the year-ago period.


What percentage of property value can be funded?

PNB HFL's funding norms change every now and then. Funding norms are different for different properties. Also, funding norms may change depending on the loan amount. Generally, PNB HFL can fund up to 90% of the value of property.

When can a customer expect disbursement of their loan amount?

As soon as the customer has selected the property, applied for the loan, and submitted all required documents relating to his income and the property, the customer can avail the disbursement of his home loan. Also, the property needs to be technically and legally sound. The disbursement would be in Indian Rupees and made at the PNB Housing branch in India, as specified by the customer.

Who is eligible for a PNB HFL home loan?

Eligibility is determined on the basis of current income, continuity of business or employment, current obligations, credit history, CIBIL score, value of the property, legal position of the borrower and age of the borrower. Also, the borrower should be an Indian citizen or a person of Indian origin.

What security do I need to provide?

The prime security for the loan is by way of deposit of title deeds and/or such other collateral security as may be decided by PNB HFL.Also, the title of the property should be clear, marketable and free from any encumbrances.

Is property insurance necessary?

Property insurance is necessary. Insurance would be helpful in protecting the property against unforeseen and unwanted events like earthquake, flood, fire or any man made calamities for that matter.

Can I get a home loan after purchasing a property?

Yes, you can get a home loan after purchasing a property at applicable loan rates. The property purchased should not be older than 6 months.

Who Can Avail Subsidy Under Credit Linked Subsidy Scheme (CLSS) under PradhanMatriAwasYojna (PMAY)?

A beneficiary family not owning a house in any part of the India is eligible for this subsidy subject to income criteria as defined for the family under various schemes for EWS/LIG/MIG-1 and MIG-2. Through this scheme, the beneficiary is eligible to avail interest subsidy on the purchase/construction of a house/enhancement of a dwelling unit.

A customer is not present in India. Can they still avail a PNB HFL home loan?

If a customer is posted abroad or not present in India at the time of application of loan and at the time of disbursement of loan amount, he/she can still avail the loan by appointing a power of attorney as per PNB HFL?s guidelines. The power of attorney holder can carry out the proceedings of the loan on behalf of the customer.

How is a loan recalculated if an NRI becomes an Indian resident?

PNB reassesses the repayment capacity on the basis of resident status. Revised interest rate is calculated and that interest rate will be applicable on the outstanding loan amount.

Can I deposit my PNB HFL fixed deposit as a security for PNB HFL home loan?

This facility is available at the discretion of PNB HFL. However, rate of interest on the loan will be 2% times higher than the rate of interest that the borrower is getting on the fixed deposit.

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