Let’s take a brief overview of PNB Housing Finance Home Loan
|Loan Amount||Up to 90 % of the property cost|
|Rate of interest||7.50% onwards|
|Tenure||Up to 30 Years|
|Lowest EMI possible||Rs. 699 Per Lakh|
|Processing fee||Up to 0.50% of the loan amount|
|Prepayment/ Foreclosure Charges||Nil for floating home loan|
The Key features of PNB Housing Finance are:
Also Read: Tax Benefit on Second Home Loan
The benefits of PNB Housing Finance Home Loans are:
Additional Info: You can also avail Navi Home Loan
Salaried as well as self-employed residents as well as non-resident Indians can apply
Eligibility for PNB Housing Finance Home loan is assessed basis following criteria:
To improve the PNB housing loan eligibility income of borrowers and co-borrowers can be considered cumulatively.
Other PNB Housing Home loan eligibility requirements-
Borrower's age: 21 to 70 years
Loan amount: Subject to property value & repayment capacity.
Also Check: Monetary Policy
Here is a list of documentation required for PNB Housing Home Loans:
|Type of document||List of self-attested documents|
|Age proof (any one)|
|Residence proof (any one)|
Processing fee cheque in favour of PNB HFL
Photocopy of title documents of the property, Approved Plan etc.
PNB Housing Finance Home loans are available at floating rates and vary as per the borrower's credit score. The PNB Housing Home Loan Interest Rate is linked to its benchmark rate PNBHFR. With effect from 25th Feb'21, the rate of interest for PNB Housing are as below:
|Credit Score||Salaried or Self-employed professional (SEP)||Self-employed non-professional (SENP)|
|800 or above||7.50% - 8.00%||7.60% - 8.10%|
|750 - 800||7.55% - 8.05%||7.90% - 8.25%|
|700 - 750||8.30% - 8.50%||8.65% - 8.85%|
|650 - 700||9.40% - 9.75%||9.75% - 10.30%|
|Up to 650||9.60% - 9.95%||9.95% - 10.45%|
|Low credit or no history||9.65% -9.95%||9.95% - 10.45%|
|Credit Score||Salaried or Self-employed professional (SEP)||Self-employed non-professional (SENP)|
|>= 800||7.60% - 7.85%||7.85% - 8.35%|
|> 750 to < 800||7.80% - 7.90%||8.25% - 8.40%|
|> 700 to < 750||8.50% - 8.65%||8.85% - 8.90%|
|> 650 to < 700||9.60% - 9.95%||9.95% - 10.45%|
|upto 650||9.80% - 10.15%||10.15% - 10.65%|
|less than zero||9.85% - 10.20%||10.20% - 10.70%|
|Unnati Home Loan||No change|
|Home Loans under special programs||Banking + 0.25% to applicable rate |
LIP + 0.50% to applicable rate
Rental Income Program + 0.50 to applicable rate %
|Plot purchase (not Purchase + Construction)||+ 1% to HL Grid rate|
|Home Improvement Loan|
|Top-up Loans||As per Non Home Loan i.e LAP|
Fees and charges associated with PNB Housing Finance Home Loan are:
|DESCRIPTION OF CHARGES||APPLICABLE CHARGES|
|Loan Processing Charges (Non-refundable)||Up to 0.5% of loan + applicable service tax|
|Foreclosure charges||Zero prepayment/ foreclosure charges|
Additional Info: Also check Pan Number for Banks
PNB Housing Finance offers the following types of Home Loans to customers:
Additional Info: You can also Check Banglarbhumi West Bengal Land Record
|Floating Scheme||UNNATI Home Loans|
Any Cibil Score/
Any Loan Amount
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. Narendra Modi. This scheme is meant for first time home buyers and comes with an interest subsidy of up to Rs 2.67 Lakh.
Additional Info: You can also Check AnyRoR Gujarat Land Record
The borrowers of PNB Housing Finance for Middle Income Group (MIG), Lower Income Group (LIG) and Economically Weaker Section (EWS) categories can avail of credit linked subsidy scheme under the Pradhan Mantri Awas Yojana (PMAY).
The customers can enjoy interest subsidy on the construction, purchase or improvement of a house under the Pradhan Mantri Awas Yojna. The scheme was introduced by PM Narendra Modi under Housing for all by the 2022 pilot project.
Additional Info: How to get Pradhan Mantri Awas Yojana
|Lender||Maximum Loan Amount||Interest Rate||Processing Fee|
|PNB Housing Finance||Up to 90% of the property||7.50% Onwards||Up to 0.50% (Minimum Rs. 10,000)|
|ICICI Home Loan||Up to 90% of the property||7.60% - 8.30%||0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST|
|SBI Home Loan||Up to 90% of property cost||7.55% - 7.75%||Up to 0.50% + applicable GST|
|Axis Bank Home Loan||Rs. 5 Crores||7.60% - 7.95%||Up to 1%, minimum Rs.10,000|
|HDFC Home Loan||Up to 90% of property cost||7.55% - 8.05%||Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes|
Depending on the product you choose, PNB Housing Finance gives Home Loans from 75% to 90% of the property's value, also known as Loan to Value (LTV). The balance amount (margin) needs to be arranged by the applicant from their own sources.
|Loan Amount||Loan To property Value|
|Up to 30 Lakh||90 %|
|Above 30 Lakh & up to 75 Lakh||80 %|
|Above 75 Lakh||75 %|
You can use MyMoneyMantra Home Loan EMI Calculator for assessing the load of EMI for PNB Housing Finance Home Loan. It is the best tool for assessing Home Loan EMI. You can effortlessly estimate the cost of a home loan and plan your monthly budget accordingly.
Using EMI calculator is very easy. You can use MMM calculator as an instant PNB Housing Home Loan Calculator. Just enter the loan amount along with the time period of the loan and the rate of interest. EMI calculator gives you bifurcation of the entire loan tenure, which helps you plan your EMI and tax obligation accordingly.
Let’s use EMI Calculator and find out EMI for PNB Housing Loans with different combinations of Home Loan Amount and tenor. Below we have calculated EMI for 10 Lakh, 20 Lakh, 30 Lakh, 40 Lakh, 50 Lakh PNB Housing Finance Home Loans for 10, 20 & 30 years respectively.
|Loan Amount||10 years||20 years||30 years|
*For purpose of EMI calculation, flat rate of Interest @ 7.20% p.a. is considered. The calculation is indicative only and will change as per effective rate of interest offered to you
The customer care service at PNB Housing is very competent and responsive. Apart from the toll-free number, you can also drop your queries and complaints to their email id. Also, to check PNB housing finance Home loan status, you contact customer care.
Customer care executives can speak English and Hindi fluently. The toll-free number is active 24 x 7. If you have mailed your grievance, you should expect a reply or a call back within three working days.
PNB Housing Finance Ltd.
9th Floor, Antriksh Bhavan,
22 Kasturba Gandhi Marg,
Near Connaught Place,
New Delhi 110001
Phone Number: 1800 120 8800
Email Address: email@example.com
Additional Info: ICICI Bank Home Loan Customer Care Number
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You can get PNB home loan statement online. It is effortless & straightforward. Go to the online portal and log in with customer ID & password. Choose the 'Home loan provisional certificate' option under the enquiries tab. You can save, print or download the Housing finance statement as per the requirement.
You can apply for PNB Housing Finance Home Loan up to 90% of the property value to purchase or construct a residential unit. The loan amount will vary as per your income, repayment capacity and market value of the property.
As soon as the customer selects the property, applies for the loan and submits all required income & property documents , the processing for disbursement of the Home Loan begins. It will take 1-3 days. The property should be be technically and legally verifiable.
Eligibility for PNB Housing loan is determined on the basis of current income, continuity of business or employment, current obligations, credit history, CIBIL score, the value of the property, the legal position of the borrower and age of the borrower. Also, the borrower should be an Indian citizen or a person of Indian origin.
The prime security for a home loan is by deposit of title deeds and/ or 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.
Property insurance should be purchased to protect the property against unforeseen and unwanted events like earthquake, flood, fire or any man-made calamities for that matter.
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.
A beneficiary family not owning a house in any part of India is eligible to apply for PMAY 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.
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 guidelines. The power of attorney holder can carry out the proceedings of the loan on behalf of the customer.
PNB reassesses the repayment capacity on the basis of resident status. Revised interest rate is calculated, and that new interest rate will be applicable on the outstanding loan amount.
This facility is available at the discretion of PNB HFL. However, rate of interest on the home loan will be 2% higher than the rate of interest that the borrower is getting on the fixed deposit.
PNB Housing Finance Limited (PNB Housing) is promoted by Punjab National Bank (PNB). PNB Housing Finance is a registered Housing Finance Company (HFC) with National Housing Bank (NHB). Punjab National Bank (PNB), however is the public bank, governed under RBI. PNBHFL was incorporated under the Companies Act, 1956 and started its business operations on November 11, 1988.