PNB Housing Finance 
Home Loan Interest Rates

In addition to Home Loan interest rates, PNBHFL levy some other charges which include:

• Processing Fee: Processing charges are levied to bear the expenses that are incurred in conducting a credit appraisal and completing the process of disbursing a Home Loan. The PNBHFL charges a maximum of 1% processing fees, plus applicable taxes on Home Loans.
• Technical and Legal Charges: PNBHFL applies legal and technical charges that are detailed to its borrowers at the time of credit processing. As you proceed with the Home Loan application, you are required to pay these predefined charges as per the lender's rule.
• Prepayment Charges: As per the guidelines from RBI, the PNBHFL is not allowed to charge prepayment fees on floating rate housing loans. Thus, you can prepay the Home Loan with PNB Housing at NIL charges. However, 3% of the prepaid principle is charged on Fixed Rate Home Loan product by PNBHFL.

• A widespread network of operational branches spread across the nation.
• A quick, hassle-free, and user-friendly application process.
• Home Loans for all types of customer requirements, such as the purchase of residential land or ready Home, or extension, construction, and improvement of the home.
• The main pillars of PNB Housing Finance limited are integrity, ethics, and openness.
• The loan repayment is simplified with reduced EMI feature.
• An efficient service delivery model ensures quick and easy approval and disbursal of Home Loans.
• Highly qualified professionals handle customer care support 24X7.

Factors Affecting PNB Housing Finance Interest Rates

The Home Loan interest rates applied are based on the computation of its internal cost of raising new funds and the borrower's occupation, income levels, the type of property, and also the repayment capacity.

The key factors can be listed as:

• Amount of Home Loan: The principal amount of the Home Loan that is borrowed is a major factor that affects the interest rate. The more is the amount of loan; the lesser is the interest rate applicable for the same.
• Existing customers of the bank: The PNB HFL provides the lowest Home Loan interest rates, which is specific for the current customers of the bank so that they can maintain a cordial relationship.
• Type of Home Loan applied: The type of Home Loan availed also affects the effective rate of interest. The rate of interest for women borrowers, Fixed Loan and Floating Home Loan will invariably differ from each product.
• Salary or income level: Your monthly income or in-hand salary helps the lender assess your repayment capacity and based on which the effective rate of interest on Home Loan is calculated.

Note: Now Customer can also check their transactions made with PNB Mini statement Check Number service

For loan amount greater than INR 35 lakhs

• *Rates of interest are subject to change at the sole discretion of PNB Housing.
• PNB Housing offers floating rate of interest, linked to its benchmark rate PNBHFR:
• PNBHFR for existing customers (loan disbursed) before 1st March 2017: 14.57% p.a.

Source: PNB Housing Website

• *Rates of interest are subject to change at the sole discretion of PNB Housing.
• PNB Housing offers floating rate of interest, linked to its benchmark rate PNBHFR:
• PNBHFR for existing customers (loan disbursed) before 1st March 2017: 14.57% p.a.

Source: PNB Housing Website

To calculate PNB Housing Finance Home Loan Interest you can use Home Loan EMI Calculator. Alternatively you use the formula to calculate manually.

Interest Amount = Principal Loan Amount x Interest Rate x Time 

However, using calculator is instant and hassle free. All you need to do is share loan details like loan amount, interest rate and tenure and press submit button. Instantly you will get loan EMI, total repayment and total interest amount.

Using MyMoneyMantra Home Loan EMI calculator you will also get amortization schedule of the loan alongside graphical representation of the loan principal and interest. 

• Shorter Tenure: The rate of interest for a Home Loan is affected by the duration or the period of the loan. The shorter is the tenure of the loan, the lower is the total interest paid, but the EMI will be higher.
• Increase EMIs: By increasing the amount of EMI, you will not only reduce the total interest paid, but it will also help you to pay the principal loan amount faster.