HDFC Home Loan
PNB Housing Finance offers home loans at rates of interest starting at 8.50% p.a. depending on the nature of employment and credit score.
Loans can be availed for up to 90% of the cost of the property for a maximum repayment tenure of 30 years. The processing fee is charged at the rate of up to 0.50% of the loan amount (plus taxes).
PNB Housing Loan Highlights
| Interest Rate | 8.5% p.a. to 11.45% p.a. |
| Loan Amount | Minimum: NA, Maximum: 90% of property cost |
| Processing Fees | Up to 0.50% of the loan applied for + Applicable Taxes |
| Max Tenure | 30 Years |
| Rate Packages Available | Floating Rate |
If you plan to apply for a PNBHF loan to buy property/plot or construct your own house, then you need to know the other home loan-linked fees and charges. Make sure you’re aware of all your responsibilities before you take a loan.
Latest PNB Housing Loan Interest Rates
Home Loan Interest Rate for Amounts up to Rs. 35 lakh
| Credit Score | Salaried | Non-salaried |
|---|---|---|
| >=825 | 8.5% p.a. to 9% p.a. | 8.8% p.a. to 9.3% p.a. |
| >800 to 825 | 8.5% p.a. to 9% p.a. | 8.9% p.a. to 9.4% p.a. |
| >775 to 799 | 9.1% p.a. to 9.6% p.a. | 9.65% p.a. to 10.15% p.a. |
| >750 to <=775 | 9.25% p.a. to 9.75% p.a. | 9.8% p.a. to 10.3% p.a. |
| >725 to < =750 | 9.55% p.a. to 10.05% p.a. | 10.25% p.a. to 10.75% p.a. |
| >700 to <= 725 | 9.85% p.a. to 10.35% p.a. | 10.55% p.a. to 11.05% p.a. |
| >650 to <= 700 | 10.25% p.a. to 10.75% p.a. | 10.75% p.a. to 11.25% p.a. |
| Up to 650 | 10.25% p.a. to 10.75% p.a. | 10.75% p.a. to 11.25% p.a. |
| NTC Cibil >=170 | 10.25% p.a. to 10.75% p.a. | 10.65% p.a. to 11.15% p.a. |
| NTC Cibil <170 | 10.15% p.a. to 10.65% p.a. | 10.55% p.a. to 11.05% p.a. |
Home Loan Interest Rate for Amounts above Rs. 35 lakh
| Credit Score | Salaried | Non-salaried |
|---|---|---|
| >=825 | 8.5% p.a. to 9% p.a. | 8.8% p.a. to 9.3% p.a. |
| >800 to 825 | 8.5% p.a. to 9% p.a. | 8.9% p.a. to 9.4% p.a. |
| >775 to 799 | 9.2% p.a. to 9.7% p.a. | 9.8% p.a. to 10.3% p.a. |
| >750 to <=775 | 9.35% p.a. to 9.85% p.a. | 10.15% p.a. to 10.65% p.a. |
| >725 to < =750 | 9.7% p.a. to 10.2% p.a. | 10.3% p.a. to 10.8% p.a. |
| >700 to <= 725 | 10.05% p.a. to 10.55% p.a. | 10.75% p.a. to 11.25% p.a. |
| >650 to <= 700 | 10.45% p.a. to 10.95% p.a. | 10.95% p.a. to 11.45% p.a. |
| Up to 650 | 10.45% p.a. to 10.95% p.a. | 10.95% p.a. to 11.45% p.a. |
| NTC Cibil >=170 | 10.45% p.a. to 10.95% p.a. | 10.85% p.a. to 11.35% p.a. |
| NTC Cibil <170 | 10.35% p.a. to 10.85% p.a. | 10.75% p.a. to 11.25% p.a. |
Commercial Property Purchase Loan Interest Rates
| Credit Score | For Non-residential Property (NRP) |
|---|---|
| >=825 | 9.25% p.a. to 9.75% p.a. |
| >800 to 825 | 9.35% p.a. to 9.85% p.a. |
| >775 to 799 | 10.3% p.a. to 10.8% p.a. |
| >750 to <=775 | 10.9% p.a. to 11.4% p.a. |
| > 725 to < =750 | 11.3% p.a. to 11.8% p.a. |
| > 700 to <= 725 | 11.75% p.a. to 12.25% p.a. |
| > 650 to <= 700 | 11.95% p.a. to 12.45% p.a. |
| upto 650 | 11.95% p.a. to 12.45% p.a. |
| NTC Cibil >=170 | 11.85% p.a. to 12.35% p.a. |
| NTC Cibil <170 | 11.75% p.a. to 12.25% p.a. |
Loan Against Property Interest Rates
| Credit score | Loan Against Commercial Property | Loan Against Residential Property (LAP) | Loan Against Plot/ Loan Against Special Property* (Residential/Commercial) |
|---|---|---|---|
| >=825 | 9.25% p.a. to 9.75% p.a. | 9.25% p.a. to 9.75% p.a. | 9.25% p.a. to 9.75% p.a. |
| >800 to 825 | 9.35% p.a. to 9.85% p.a. | 9.35% p.a. to 9.85% p.a. | 9.35% p.a. to 9.85% p.a. |
| >775 to 799 | 10.3% p.a. to 10.8% p.a. | 10.3% p.a. to 10.8% p.a. | 10.3% p.a. to 10.8% p.a. |
| >750 to <=775 | 10.9% p.a. to 11.4% p.a. | 10.9% p.a. to 11.4% p.a. | 10.9% p.a. to 11.4% p.a. |
| > 725 to < =750 | 11.3% p.a. to 11.8% p.a. | 11.3% p.a. to 11.8% p.a. | 11.3% p.a. to 11.8% p.a. |
| > 700 to <= 725 | 11.75% p.a. to 12.25% p.a. | 11.75% p.a. to 12.25% p.a. | 11.75% p.a. to 12.25% p.a. |
| > 650 to <= 700 | 11.95% p.a. to 12.45% p.a. | 11.95% p.a. to 12.45% p.a. | 11.95% p.a. to 12.45% p.a. |
| Up to 650 | 11.95% p.a. to 12.45% p.a. | 11.95% p.a. to 12.45% p.a. | 11.95% p.a. to 12.45% p.a. |
| NTC Cibil >=170 | 11.85% p.a. to 12.35% p.a. | 11.85% p.a. to 12.35% p.a. | 11.85% p.a. to 12.35% p.a. |
| NTC Cibil <170 | 11.75% p.a. to 12.25% p.a. | 11.75% p.a. to 12.25% p.a. | 11.75% p.a. to 12.25% p.a. |
Lease Rental Discounting Loan Interest Rate
| Credit Score | Lease Rental Discounting (LRD) |
|---|---|
| >=825 | 9.25% p.a. to 9.75% p.a. |
| >800 to 825 | 9.35% p.a. to 9.85% p.a. |
| >775 to 799 | 10.3% p.a. to 10.8% p.a. |
| >750 to <=775 | 10.9% p.a. to 11.4% p.a. |
| > 725 to < =750 | 11.3% p.a. to 11.8% p.a. |
| > 700 to <= 725 | 11.75% p.a. to 12.25% p.a. |
| > 650 to <= 700 | 11.95% p.a. to 12.45% p.a. |
| upto 650 | 11.95% p.a. to 12.45% p.a. |
| NTC Cibil >=170 | 11.85% p.a. to 12.35% p.a. |
| NTC Cibil <170 | 11.75% p.a. to 12.25% p.a. |
PNB Housing Finance is a branch Punjab National Bank. The bank has an enormous customer base and provides a widespread line of home loan products for the public, private builders, government employees, etc. PNB Housing Finance home loans can be availed by visiting one of their several branches spread across the nation.
The features and benefits of the loans are as follows:
- Rate of interest that starts as low as 8.50% p.a.
- Floating rate of interest that is linked to the benchmark rate – PNBHFR. This gives you the benefit of lower rates of interest when compared to loans with fixed interest rates. It translates to greater savings for you over the long term.
- PNB has tied up with prominent insurance companies so you can get your loan repayments insured. This helps to protect you financially even in the case of unfortunate events that could hamper the repayment of your loan.
- Doorstep services ensure quick and hassle-free disbursal of the loan.
- A wide range of loan products within the home loan category including loans for home improvement, home extension, and purchase of plots.
- Repayment options through Electronic Clearance System (ECS) and post-dated cheques make it easier to pay back the loan at your convenience.
- Repayment tenures of up to 30 years which offer more time to repay the loan in a stress-free manner.
- In case of increase in the cost, there is the facility to enhance the loan amount.
PNB Housing Finance Loan EMI Calculator
Calculate your home loan EMI in a minute with the help of PNB HFL Home Loan EMI Calculator. Enter your loan details, including the loan amount, interest rate, processing fee, and tenure, and click on “Calculate”. You can also view a detailed break-up of your repayment schedule through an amortisation table.
PNB Housing Loan Schemes and Offers
- Home Purchase Loan:This loan is for the purchase of a residential property in India.
- Home Improvement Loan:This covers the renovation, upgradation, repair, flooring, water-proofing, false ceiling, woodwork, tiling, plumbing, or electrical work of an already purchased house.
- Home Extension Loan:This loan can be used to add an extra room or space to your home to meet the needs of a growing family.
- Home Construction Loan:This will provide the financial support to construct a residential house property on one’s own, especially for those who already own land and wish to construct a house on it.
- Residential Plot Loan:This is for purchasing a residential plot to construct a house in an urban area.
- Loan for NRIs:The home loan products for NRIs and PIOs can be used to purchase a new house or construct one. It can also be used for the renovation and repair of the residential properties, but only for those in India.
- Unnati Home Loans:These loans provide a simplified and streamlined loan disbursal process with a maximum loan amount of up to Rs.25 lakh (subject to 90% of the property’s market value). The Interest rate Start at 11.75% p.a for Salaried and 13.00% p.a for the SENP Category
- PNB Housing PMAY Scheme:This is a Credit Linked Subsidy Scheme (CLSS) for the Lower Income Group (LIG), Middle Income Group (MIG), and Economically Weaker Section (EWS) of society.
PNB Housing Loan Eligibility
Given below are the eligibility criteria you will have to fulfil to apply for a home loan from PNBHFL:
Documents Required
The list of documents required for salaried individuals and self-employed individuals are given below. While there are some common documents, there are also some that are unique to each category.
Documents Required for Salaried Individuals:
All the documents given below have to be self-attested by the applicant.
| Age Limit | The age of the applicant must be 21 years or above. The age of the applicant should not exceed 70 years at the time of home loan maturity. |
| Monthly salary/income | Rs.15,000 and above |
| Required CIBIL Score | Minimum 611 |
| Work experience for salaried individuals | 3+ years |
| Business continuity for self-employed | 3+ years |
Documents Required for Professionals/Self-Employed Individuals:
All the documents given below have to be self-attested by the applicant.
| Eligibility Proof | Documents Required |
| Proof of residence | Telephone bill/election card/ration card/driving license/passport/any relevant certificate from a Statutory Authority |
| Proof of age | Passport/PAN card/any relevant certificate from a Statutory Authority |
| Proof of educational qualifications | Latest degree certificate (for professionals) |
| Proof of income | Income tax returns of the past 3 years. Balance sheets and Profit & Loss account to be audited/certified by a Chartered Accountant |
| Bank statements of the last 12 months | |
| Business profile | Proof of existence of business and certificate |
Other Requirements:
- Application form that is filled up accurately (which can be downloaded from the website of PNB Housing Finance Limited) along with photograph.
- Photocopy of the approved plan or property title documents.
- Cheque for processing fee made in favour of ‘PNB Housing Finance Ltd’.
How to Apply for PNB Housing Finance Home Loan
A home loan from PNB Housing Finance can be applied in the three methods listed below:
- Through BankBazaar: You can visit the BankBazaar website and navigate to the home loan section. There, you will be able to see a list of loan providers. You can click on the ‘Apply Now’ button against PNB Housing Finance Home Loan and follow the instructions to set the application process rolling.
- Through the official website of PNB Housing Finance: Another way to apply for a home loan from PNB Housing Finance is to visit the official website and click on ‘Instant loan in 3 minutes – Apply Now’ under Home Purchase Loan. On doing that, you will be redirected to a new page where you need to follow the instructions to apply for the home loan. You can also track the status of your application through the bank’s official website.
- Offline application: You can apply for the home loan using the offline mode. All you need to do is visit the nearest branch along with the necessary documents. In case, you need any assistance you can contact PNBHFL customer care on the toll-free numbers.
PNB Housing Finance Headquarters:
9th Floor, Antriksh Bhavan,
22 Kasturba Gandhi Marg,
Near Connaught Place,
New Delhi – 110001
Contact Number: 1800 120 8800
Why Apply for a PNB Housing Finance on BankBazaar.com?
Applying for a home loan on BankBazaar offers the following unbeatable advantages:
- Save Time: Avoid running around for your PNB HOUSING home loan. From checking out all the features, to applying and running down the list of required documents, to finally receiving confirmation from PNB HOUSING, everything happens quickly and smoothly- thanks to BankBazaar’s interactive and informative approach.
- All the Information You Need: Everything important, from the basic terms and conditions to the eligibility factors, from PNB housing finance interest rate to documentation required, find everything you need, here!
- Compare and Review: Compare the PNB HOUSING home loan against other loan options available in the Indian market. Read reviews from your peers about their own borrowing experience, clear nagging queries by contacting BankBazaar’s expert customer support team.
- Simple and Transparent Application Process: No hidden charges, no red-tape, not too technical that only a rocket scientist can understand, and immensely respectful of your requirements and limitations.
- 100% Safe: Your personal information is treated with the maximum care, never shared with anyone other than PNB HOUSING and passed through robust, encrypted systems that have 0% tolerance towards malicious intent.
FAQ on PNB Housing Finance
- How is the loan disbursed?
The loan is disbursed either in installments or as a lump sum depending on the requirements. For flats or houses under construction, it is disbursed in regular stages depending on how the construction is progressing. For purchasing a flat or house on resale, the loan is paid in a lump sum. - Is PNB Housing Finance available all over India?
Yes, PNB Housing Finance has a wide network all over India. - Does the applicant have to make a contribution?
Yes, the applicant has to make a contribution that is 10% of the total cost of the property (for purchase of property, this includes registration charges and stamp duty). - Is there any security required for the loan?
The security required is a first charge which is in the form of an equitable mortgage of the property that is to be financed and/or any other securities that can be taken as collateral.
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