Punjab National Bank Home Loan

PNB Home Loan interest rates begin from 8.40% per year. The bank determines rates based on factors like loan amount, credit score, and loan type. Other lenders might also consider factors such as occupation, employer, and monthly income when setting their home loan rates.

Purposes: PNB offers Home Loans for the public to help with buying or building a house/flat, making additions, repairs, renovations, alterations, or furnishing existing properties, purchasing under-construction houses/flats from various authorities or builders, buying land for constructing a home, and covering cost increases for existing home loan borrowers' under-construction flats.

Loan Amount:

• Plot/land purchase for house construction: Maximum loan amount up to Rs 50 lakh.
• Repair/renovation/alteration: Maximum loan amount up to Rs 25 lakh.
• Addition/construction/purchase of house or flat: Loan amount depends on the project cost and the borrower's repayment capacity.
• Furnishing Cost: Included in the project cost, with a maximum of up to 10% of the housing loan or Rs 25 lakh, whichever is lower.

Tenure:

• For repair/renovation/alteration of house/flat- Up to 15 years
• For Others- Up to 30 years

LTV Ratio:

• Home Loans (all variants) above Rs 75 lakh with a CIC Score of 750 and above, a discount of 20% is applicable.
• Top-up Home Loans, Term Loans, and Overdrafts with a CIC Score of 750 and above, a discount of 20% is also applicable.

Purposes: PNB Max Saver is a home loan overdraft facility designed for existing home loan borrowers. It allows borrowers to withdraw the required loan amount from a linked overdraft account within the sanctioned overdraft limit.

Consumers can use the PNB Max Saver scheme to finance various purposes, including:

• Purchase or construction of a house/flat
• Addition, repair, renovation, alteration, or furnishing of existing properties
• Purchase of under-construction houses or flats from housing boards, co-operative societies, development authorities, projects, or approved private builders
• Meeting the escalation cost of under-construction flats for existing home loan borrowers.

Loan Amount: Rs 10 lakh onwards

Purposes: Punjab National Bank offers the PNB Pride Housing Loan specifically tailored for government employees, including permanent employees of the State Government, Central Government, Defense Personnel, Paramilitary forces, PSUs, and pensioners of State/Central Government.

Loan Amount:

• For Plot/land purchase for house construction: Up to Rs 50 lakh
• For addition/construction/purchase of a house or flat: Determined based on the applicant’s requirement, depending on the project cost and the borrower's repayment capacity.
• For repair/renovation/alteration: Up to Rs 50 lakh
• Furnishing Cost: Included in the project cost, with a maximum of up to 15% of the home loan amount or Rs 50 lakh, whichever is lower.

Tenure:

• For repair/renovation/alteration of house/flat- Up to 15 years
• For Others- Up to 30 years

LTV Ratio:

• Up to Rs 30 lakh- 20%/15%*
• Above Rs 75 lakh- 25%
• Above Rs 30 lakh to Rs 75 lakh- 20%
• For purchase of Plot/Land for home construction- 25%

Purposes: Gen-Next salaried borrowers can utilize the 'PNB Gen-Next Housing Finance Scheme for Public' to secure funds for various purposes such as:

• Purchase of ready-to-move-in flats/houses
• Construction of houses/flats
• Purchase of under-construction flats from approved private builders.

Loan Amount: Rs 20 lakh onwards

Tenure: Flat 30 years

Purposes: Punjab National Bank provides a Composite Loan option to its applicants, enabling them to finance the purchase of a residential plot along with the construction of a house on the same plot.

Loan Amount:

• The loan amount is determined based on the borrower's repayment capacity and the cost of the project.
• For plot purchase, the loan amount should be less than 60% of the eligible loan amount.
• At least 40% of the total eligible loan amount must be utilized for home construction purposes.

LTV Ratio:

Tenure: Flat 30 years

Also Read : Best Home Loan EMI Calculator

Also read: Best Home Loan Fees and Charges

• Must be at least 18 years old
• Available for single or shared ownership
• Should not be over 70 years old when the loan ends
• Need a steady income source

Also Read : Best Home Loan Eligibility

• Completed home loan application form with a photo attached
• ID proof like Aadhaar Card, PAN Card, Passport, Driver's License, or Voter’s ID
• Address proof like Aadhaar Card, Passport, Driver's License, or Voter’s ID
• Age proof like Aadhaar Card, PAN Card, Passport, Birth Certificate, Driver's License, or Voter’s ID
• Proof of Education
• Income proof: Salary certificate from employer (showing gross and net salary) or Income Tax Return
• Bank statement for the past six months from salary account

• Bank statement for the last six months
• Completed home loan application form with a photo attached
• ID proof such as Aadhaar Card, PAN Card, Passport, Driver's License, or Voter’s ID
• Address proof like Aadhaar Card, Passport, Driver's License, or Voter’s ID
• Age proof like Aadhaar Card, PAN Card, Passport, Birth Certificate, Driver's License, or Voter’s ID
• Proof of Education
• Proof of Income for Farmers: Landholding and cropping details or any other proof of income
• Proof of Income for other self-employed individuals: Last 3 years’ Income Tax Returns or Assessment Orders & Income Statement

• Property documents as required
• Income proof of spouse/earning children/joint borrowers (if applicable)

Also Read : Best Home Loan Documents Required

PNB has waived off its home loan processing charges until March 31, 2024.

Punjab National Bank exclusively offers home loans at floating interest rates.

Yes, PNB considers the income of co-applicants when assessing the repayment capacity for a home loan application.

Also read: Best Home Loan Balance Transfer

Punjab National Bank provides home loan interest rates that begin from 8.40% per annum. These rates vary based on factors such as the applicant's credit score, the type of home loan scheme chosen, and the amount of loan offered.

PNB Home Loan interest rates for government employees can vary from 8.40% p.a. to 10.25% p.a. These rates depend on factors such as the loan amount, the applicant's credit score, and the specific PNB Home Loan scheme chosen.

Punjab National Bank does not publicly disclose the specific loan amounts it offers to home loan applicants. However, the lender determines the home loan amount based on factors such as the project cost and the borrower's repayment capacity.