We have got you covered if you intend to apply for the PNB home loan soon.
This article closely discusses different types of Punjab National Bank home
loan offered by the bank, their eligibility criteria, the PNB home loan interest
rates starting @7.90% and comparison with other banks to help you assess
and make informed decisions.
Loan amount | Up to 90% of Property Value |
---|---|
Rate of interest | 7.90% onwards |
Tenure | Up to 30 years |
Lowest EMI possible | Rs. 727 Per Lakh |
Processing fee | 0.35% of loan amount |
Foreclosure Charges | Nil for floating rates |
Penal Interest Rate | 2% 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
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:
Additional Info: Also check Punjab National Bank Home Loan Balance Transfer
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:
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:
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.
Loan Amount – Rs 50 lakh and above (For LTV Ratio of up to 80%)
Credit Score | Interest Rate (p.a.) (For leads through digital channel) | Interest Rate (p.a.) (For leads through non-digital channel) | ||
Salaried | Non-Salaried | Salaried | Non-Salaried | |
PNB Pride | 7.90% | NA | 7.95% | NA |
750 and above | 7.90% | 8.00% | 7.95% | 8.05% |
700-749 | 8.10% | 8.20% | 8.15% | 8.25% |
650-699 | 8.20% | 8.30% | 8.25% | 8.35% |
>=550-649 | 8.70% | 8.80% | 8.75% | 8.85% |
Loan Amount – Less than Rs 50 lakh (For LTV Ratio of up to 80%)
Credit Score | Interest Rate (p.a.) (For leads through digital channel) | Interest Rate (p.a.) (For leads through non-digital channel) | ||
Salaried | Non-Salaried | Salaried | Non-Salaried | |
PNB Pride | 7.95% | NA | 8.00% | NA |
750 and above | 7.95% | 8.05% | 8.00% | 8.10% |
700-749 | 8.15% | 8.25% | 8.20% | 8.30% |
650-699 | 8.25% | 8.35% | 8.30% | 8.40% |
>=550-649 | 8.75% | 8.85% | 8.80% | 8.90% |
Loan Amount – Up to Rs 30 lakh (For LTV Ratio more than 80%)
Credit Score | Interest Rate (p.a.) (For leads through digital channel) | Interest Rate (p.a.) (For leads through non-digital channel) | ||
Salaried | Non-Salaried | Salaried | Non-Salaried | |
PNB Pride | 8.25% | NA | 8.30% | NA |
750 and above | 8.25% | 8.35% | 8.30% | 8.40% |
700-749 | 8.45% | 8.55% | 8.50% | 8.60% |
650-699 | 8.55% | 8.65% | 8.60% | 8.70% |
>=550-649 | 9.05% | 9.15% | 9.10% | 9.20% |
Loan Amount – Rs 50 lakh and above (For LTV Ratio of up to 80%)
redit Score | Interest Rate (p.a.) (For leads through digital channel) | Interest Rate (p.a.) (For leads through non-digital channel) | ||
Salaried | Non-Salaried | Salaried | Non-Salaried | |
PNB Pride | 8.05% | NA | 8.10% | NA |
750 and above | 8.05% | 8.15% | 8.10% | 8.20% |
700-749 | 8.25% | 8.35% | 8.30% | 8.40% |
650-699 | 8.35% | 8.45% | 8.40% | 8.50% |
>=550-649 | 8.85% | 8.95% | 8.90% | 9.00% |
Loan Amount – Less than Rs 50 lakh (For LTV Ratio of up to 80%)
Credit Score | Interest Rate (p.a.) (For leads through digital channel) | Interest Rate (p.a.) (For leads through non-digital channel) | ||
Salaried | Non-Salaried | Salaried | Non-Salaried | |
PNB Pride | 8.10% | NA | 8.15% | NA |
750 and above | 8.10% | 8.20% | 8.15% | 8.25% |
700-749 | 8.30% | 8.40% | 8.35% | 8.45% |
650-699 | 8.40% | 8.50% | 8.45% | 8.55% |
>=550-649 | 8.90% | 9.00% | 8.95% | 9.05% |
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.
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:
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 Names | Interest Rates |
---|---|
Punjab National Bank | 7.90% |
UCO Bank | 7.90% |
Kotak Mahindra Bank | 7.99% |
ICICI Bank | 8.10% |
HDFC Bank | 8.10% |
Canara Bank | 8.05% |
State Bank of India | 8.05% |
IDFC First Bank | 7.95% |
Union Bank of India | 7.90% |
Axis Bank | 8.10% |
DBS Bank | 6.70% |
LIC Housing Finance | 8.05% |
Bank of Baroda | 7.95% |
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
n order to apply for a PNB home loan scheme, you need to follow a few steps.
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 Punjab National Bank Credit Card
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