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PNB Home Loan

Loan amountUp to 90% of Property Value
Rate of interest7.90% onwards
TenureUp to 30 years
Lowest EMI possibleRs. 727 Per Lakh
Processing fee0.35% of loan amount 
Foreclosure ChargesNil for floating rates
Penal Interest Rate2% per month

Building a house can be pretty tricky at times if you do not make a solid strategic plan before you take a home loan. Managing your expenses and making proper financial decisions during your repayment tenure with an appropriate plan becomes more manageable. 

Punjab National Bank is one of India's most renowned public sector banks that offers several home loan schemes to eligible customers. In addition, the bank offers home loans at reasonable interest rates for longer tenures. When it comes to the PNB home loan, you have many options to choose which scheme suits your demands the best. 

Additional Info: Also check PNB Home Loan EMI Calculator

PNB Home Loan Details

Punjab national bank is an Indian multinational public sector bank that offers several financial and banking services to corporate and individuals as well. It was founded in 1894, and several branches of the bank have developed over the ages across the nation.

Several factors that you need to keep in mind before applying for the PNB home loan include:

  • If you want to keep your monthly instalments at a reasonable size, you can choose a tenure of up to 30 years based on your affordability.
  • PNB Home Loan interest rate starts from 7.90%.
  • The loan turnaround period remains around 8 to 15 days.
  • Both salaried and self-employed people can apply for the PNB home loan.
  • You can add up to 4 applicants while applying for the loan if you have a poor credit score to increase your loan's chances of getting approved by the bank.
  • The lowest EMI for an average interest rate remains around Rs. 727/- per lakh.

Additional Info: Also check Punjab National Bank Home Loan Balance Transfer

Types of Home Loan Offered by Punjab National Bank

There are several schemes offered to customers when it comes to Punjab national bank home loan. Different schemes are provided with different objectives, and people with different demands apply for them based on their requirements.

Several types of home loans offered by Punjab National Bank include:

PNB Housing Loan for Public 

  • This PNB Home loan is offered to those who are looking forward to building their house or flat. These loans can also be utilised for purchasing a new home or for renovation and extension purposes. 
  • Customers can take a loan of up to one crore under this scheme. 
  • The interest rate remains around 7.90% to 9.35%.

PNB Pride Housing Loan 

  • This scheme is offered to permanent central and state government employees for construction and renovation purposes of their property. 
  • The minimum loan amount remains around 10 lakh for this PNB home loan scheme.
  • An interest rate of 7.90% onwards is applied for a tenure of up to 30 years.

PNB Max Saver

  • This is a scheme that comes in the form of an overdraft. This scheme helps you make substantial savings on your home loan interest. 
  • Customers can deposit their funds in their overdraft account if they wish. They can also withdraw the money as per their demands. 
  • The loan amount remains between 10 lakh to 1 crore. 
  • The interest rate remains around 7.90% onwards.

PNB Gen- Next Housing Finance Scheme for Public

  • This PNB home loan is offered to the Gen-Next salaried class along with govt, PSUs, and PSBs employees.
  • This loan can be used for both house purchase and house construction purposes.
  • The minimum loan amount that the customers can borrow remains around 20 lakh under the scheme.
  • An interest rate of 7.90% onwards is applied for a tenure of up to 30 years.
  • In order to apply for this loan, home loan for salaried individuals must submit documents as proof of their work experience of at least three years.

Benefits of PNB Home Loan

There are several benefits of Punjab National Bank Housing Finance loans. Some of the significant benefits that you can enjoy if you apply for a home loan in PNB include:

  • The bank offers loans at relatively low-interest rates. PNB housing finance interest rates start from 7.90%. It is a relatively affordable interest rate compared to the market rate at the contemporary time.
  • You can select a longer tenure of up to 25 years to 30 years in order to decrease your monthly instalment rates.
  • If you have a poor credit score of 650 or less, you can consider applying with up to 4 co-applicants who have a good credit score to increase your chances of getting a loan approved.
  • Both salaried and self-employed people can apply for a home loan with a decent credit history and stable income.
  • You can use the home loan EMI calculator to calculate your monthly instalments before applying for a home loan. It will give you exact results and help you plan your expenses and manage your finances well during your repayment tenure. You can also try changing the loan tenure and making different combinations with different principal amounts to determine which loan plan suits your affordability the best.
  • Those who have a good credit score of 750 and above often receive several tax benefits on home loan as per different policies of the Punjab national bank. Make sure you go through all the policies and discuss the same with the bank officials before applying for a home loan for better opportunities.
  • Unlike many banks in India, Punjab National Bank approves your loan applications instantly, and the entire procedure quickly takes place. The loan disbursal process also takes place as soon as possible, which helps you save a lot of time in the long run.
  • PNB offers several repayment services to customers. You can quickly go for a repayment method without any hassle.

Additional Info: Also check DDA Housing Scheme 2022

PNB Home Loan Interest Rates

PNB Home Loan interest rates depend on several factors such as your credit score, income details, financial background, and other details. Interest rates also differ from one scheme to the other based on several factors. 

Interest rate also differs based on your profession. For self-employed and salaried people, the rate usually varies by 4 to 5% when it comes to the PNB Home loan.

Go through the charts to understand the different interest rates offered by PNB. The first chart reflects the amounts offered to those who apply for up to 35 lakhs loans.

Housing Loan

Loan Amount - Rs 50 lakh and above (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride7.90%NA7.95%NA
750 and above7.90%8.00%7.95%8.05%
700-7498.10%8.20%8.15%8.25%
650-6998.20%8.30%8.25%8.35%
>=550-6498.70%8.80%8.75%8.85%

Loan Amount - Less than Rs 50 lakh (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride7.95%NA8.00%NA
750 and above7.95%8.05%8.00%8.10%
700-7498.15%8.25%8.20%8.30%
650-6998.25%8.35%8.30%8.40%
>=550-6498.75%8.85%8.80%8.90%

Loan Amount - Up to Rs 30 lakh (For LTV Ratio more than 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.25%NA8.30%NA
750 and above8.25%8.35%8.30%8.40%
700-7498.45%8.55%8.50%8.60%
650-6998.55%8.65%8.60%8.70%
>=550-6499.05%9.15%9.10%9.20%

PNB Overdraft Home Loan Interest Rates (Max Saver)

Loan Amount - Rs 50 lakh and above (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.05%NA8.10%NA
750 and above8.05%8.15%8.10%8.20%
700-7498.25%8.35%8.30%8.40%
650-6998.35%8.45%8.40%8.50%
>=550-6498.85%8.95%8.90%9.00%

Loan Amount - Less than Rs 50 lakh (For LTV Ratio of up to 80%)

Credit ScoreInterest Rate (p.a.) (For leads through digital channel)Interest Rate (p.a.) (For leads through non-digital channel)
SalariedNon-SalariedSalariedNon-Salaried
PNB Pride8.10%NA8.15%NA
750 and above8.10%8.20%8.15%8.25%
700-7498.30%8.40%8.35%8.45%
650-6998.40%8.50%8.45%8.55%
>=550-6498.90%9.00%8.95%9.05%

PNB Home Loan Eligibility

Punjab national bank home loan eligibility criteria are similar to most banks in India in terms of the required documents and the age factors. If you want to apply for a home loan soon, make sure you go through the eligibility criteria thoroughly before making an application.

  • Both salaried and self-employed people are eligible to apply for the PNB home loan schemes.
  • You need to be at least 18 years old to apply for a home loan.
  • The maximum age to apply for home loans is 70 years.
  • For PNB flexible housing loans, the maximum each to apply remains 50 years as per the bank's policies.
  • Your credit score must be 750 or above for better chances of loan approvals. Check CIBIL score for home loan and if you have a poor credit score, make sure you focus on improving your credit score first before applying for a home loan.
  • You must have a regular source of income of at least 25,000 per month in order to apply for a home loan.

Additional Info: Check 30 Lakh Home Loan EMI Apply Online.

Punjab National Bank Home Loan Documents Required

There are several home loan documents required for making a loan application. The significant documents that you need to keep to apply for a home loan include:

  • A duly filled application form with attested photographs
  • You must have a PAN card to apply for the PNB housing loan.
  • Your age proof- birth certificate/ passport is required.
  • Address proof- utility bills such as electricity, telephone, and water bills are required.
  • Identity proof- Voter card, Aadhar card, driving licence, ration card.
  • Income proof- your bank statements for the last six months are required. The bank requires Salary-slips for three months along with the processing fee cheque for review purposes.
  • You must submit form 16 in order to apply for the PNB home loan.
  • Educational qualifications such as your degree may be required as well. 
  • For self-employed people, proof of their business is required - a business profile and balance sheets with proof of loss or profit must be submitted during the application process.
  • If you are applying with a co-applicant, income proof of your co-applicants will also be needed for the review process.

Additional Info: Also check Punjab National Bank Home Loan Documents Required

Compare PNB Home Loan with Other Banks

Before you apply for a home loan, make sure you go through all home loan interest rates offered by the leading banks at the moment. It will help you understand the differences between the rates and choose the best scheme for the future.

Use an online EMI calculator to calculate your monthly instalments before applying for a home loan. Use different online EMI calculators to compare and analyse the differences between the interest rates offered for your principal account.

Go through the chart to understand the different interest rates offered by the leading banks in India so that you can figure out which scheme you should go for.

Bank NamesInterest Rates
Punjab National Bank7.90%
UCO Bank7.90%
Kotak Mahindra Bank7.99%
ICICI Bank8.10%
HDFC Bank8.10%
Canara Bank8.05%
State Bank of India8.05%
IDFC First Bank7.95%
Union Bank of India7.90%
Axis Bank8.10%
DBS Bank6.70%
LIC Housing Finance8.05%
Bank of Baroda7.95%

These are the different interest rates offered by the leading banks in the country at the moment. So do your research and go for the best scheme that fits your affordability the most. For instance, for a 20 lakh home loan, your monthly installments will be around 16,605/- for a tenure of 20 years. If the interest increases, your EMIs will increase along with it. 

Different banks also offer different processing fees when it comes to home loans. On average, the processing fee remains up to 0.50% depending on the policies of the banks. Make sure you go through the financial policies well before applying for the PNB home loan.

Additional Info: Also check Punjab National Bank Personal Loan

How to apply for PNB Home Loan

In order to apply for a PNB home loan scheme, you need to follow a few steps:

  • First, you need to register yourself as an applicant before applying for a home loan.
  • Login to PNB internet banking in order to move ahead with the registration process.
  • Click on the 'other services' option and select 'service requests' next.
  • Go to 'new requests' and register yourself as an applicant.
  • After that, you can visit the housing loans section from the official website of the Punjab National Bank.
  • Choose the scheme you want to select. Select your name, mobile number, address, and other details.
  • You will have to then agree to the terms and rules in order to proceed further with your application.
  • After a verification via OTP, you can directly apply for the scheme.

Punjab National bank Customer Care

In order to contact the customer care of the Punjab National Bank for PNB home loan queries or other queries, dial their toll-free number- 1800 180 2222 or 1800 103 2222 for instant support. 

If you want to have a written conversation, you can send an email to care@pnb.co.in.

Additional Info: Also check Home Loan Customer Care Number

Apply for Home Loan Online @ Rs. 727/Lakh* EMI

Apply for instant home loan online at Interest Rate starting from as low as 7.90% p.a. Pay EMI of just Rs. 727 per Lakh. Loan can be repaid in flexible tenure of up to 30 years. Apply now with minimal documentation. Check eligibility & get instant approval here.

Punjab National Bank Home Loan FAQs

✅ Why Punjab National Bank is Better than Other Banks for Home Loan?

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Punjab national bank is one of the most renowned banks in India that offers several home loan schemes for you to figure out which one will suit your demands the best. Home loans are offered at affordable rates for longer tenures of up to 25 years to 30 years. Another remarkable factor that makes the PNB services unique is their first and instant services. It helps you save a lot of time during and after your application process.

✅ How long does it take for disbursement of PNB Home Loan?

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The loan disbursal process begins soon after you successfully select your property type, submit all necessary documents and apply for the home loan.

✅ Can I deposit my PNB Fixed Deposit as security for PNB Home Loan?

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Yes. This facility is allowed by the Punjab national bank. However, the rate of interest will be 2% higher on the entire loan amount in that case.

✅ What security do I need to provide for a Home Loan?

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The title of your property should be clearly submitted, and the property documents should be presented clearly to the bank when you apply for a PNB home loan. Your property should be free from any encumbrances. Make sure you keep the collateral security documents for the review process.

✅ Who is eligible for a PNB home loan?

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Salaried and self-employed individuals from the age group of 18 to 70 years who have a regular income enter intending to buy, extend, or renovate houses are eligible to apply for a PNB home loan.

✅ Is property insurance necessary for PNB Home Loan?

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Yes. Your property documents are necessary for the review process. Insurance documents are helpful when it comes to protecting your property against events like floods, earthquakes or other man-made calamities.

✅ What percentage of property value can be funded by way of a PNB Housing Loan?

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The bank can fund up to 90% of your entire property value in case of home loans.

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

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Suppose a customer is not present in India at the time of application and at the time of loan disbursal. In that case, they can still get the loan with the help of a power of attorney according to the guidelines followed by the Punjab national bank. A power of attorney will represent the customer and take all necessary actions on behalf of them.

✅ How much CIBIL score is required for a PNB home loan?

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On average, a credit score of 750 is considered decent when it comes to home loans. Make sure you focus on improving your Cibil score if you have a poor credit score before applying for a home loan for better loan-approval chances.

✅ What is the maximum tenure of a PNB Home Loan?

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The maximum tenure of a PNB home loan, as per the policies of the bank, remains up to 30 years.