Punjab National Bank Home Loan


Punjab National Bank provides home loans starting from 8.40% interest rate per year, with repayment periods of up to 30 years. They offer extra features like home loan overdraft and special products for specific groups like defense personnel, government workers, and young salaried individuals in IT or government jobs up to 40 years old

Punjab National Bank Home Loan Highlights 
Interest Rate

Floating Interest Rates- 8.40% – 10.25% p.a.

Fixed Interest Rates- 9.40%- 11.75% p.a.
Loan Amount As per the borrower’s eligibility
Tenure Up to 30 years

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Compare Interest Rates offered by other Lenders
Interest Rates
Types of PNB Bank Home Loans
Processing Fees & Charges
Eligibility Criteria for PNB Bank Home Loan
Documents Required
EMI Calculator
FAQs

Compare Interest Rates offered by other Lenders

Name of Lender Up to Rs. 30 Lakh Above Rs. 30 Lakh to Rs. 75 Lakh Above Rs. 75 Lakh  
SBI Bank 8.40% - 10.15% p.a. 8.40% - 10.05% p.a. 8.40% - 10.05% p.a. Apply Now
HDFC Bank Limited 8.40% p.a. onwards 8.40% p.a. onwards 8.40% p.a. onwards Apply Now
Kotak Mahindra Bank 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
ICICI Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Federal Bank 8.80% p.a. onwards 8.80% p.a. onwards 8.80% p.a. onwards Apply Now
L&T Finance Limited 8.60% p.a. onwards 8.60% p.a. onwards 8.60% p.a. onwards Apply Now
Bajaj Housing Finance 8.50% p.a. onwards 8.50% p.a. onwards 8.50% p.a. onwards Apply Now
LIC Housing Finance 8.35% - 10.35% p.a. 8.35% - 10.55% p.a. 8.35% - 10.75% p.a. Apply Now
PNB Housing Finance 8.50% - 14.50% p.a. 8.50% - 14.50% p.a. 8.50% - 11.45% p.a. Apply Now
Punjab National Bank 8.45% - 10.25% p.a. 8.40% - 10.15% p.a. 8.40% - 10.15% p.a. Apply Now
Bank of Baroda 8.40% - 10.65% p.a. 8.40% - 10.65% p.a. 8.40% - 10.90% p.a. Apply Now
IDFC First Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Tata Capital Housing Finance 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
Axis Bank 8.70% - 13.30% p.a 8.70% - 13.30% p.a 8.70% - 9.10% p.a. Apply Now
Godrej Housing Finance 8.55% p.a. onwards 8.55% p.a. onwards 8.55% p.a. onwards Apply Now

Also read: Best Home Loan in India

 

Punjab National Bank Home Loan Interest Rates

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.

Amount of Loan Interest Rate (p.a.)
Rs 25 lakhs – Rs 75 lakhs(men) 8.70%
Rs 25 lakhs – Rs 75 lakhs (women) 8.65%
Above 75 lakhs (men) 8.75%
Above 75 lakhs (women) 8.70%

Types of Punjab National Bank Home Loan

PNB Housing Loan for Public

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.

PNB Housing Finance Scheme for Public- PNB Max Saver

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

PNB Pride Housing Loan for Government Employees

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%

PNB Gen-Next Housing Finance Scheme for Public

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

PNB Composite Loan

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:

For plot purchase+home construction Loan Amount LTV Ratio
Up to Rs 30 lakh 20%/15%*
Above Rs 30 lakh to Rs 75 lakh 20%
Above Rs 75 lakh 25%
For purchase of Plot/Land for home construction 25%

Tenure: Flat 30 years

Also Read : Best Home Loan EMI Calculator

 

Fees and Charges of PNB Home Loan

Charges Charges Applicable
Processing Fees NIL up to 31st March 2024
Documentation Charges NIL up to 31st March 2024

Also read: Best Home Loan Fees and Charges

Punjab National Bank Home Loan Eligibility Criteria

  • 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

Punjab National Bank Home Loan Documents Required

PNB Home Loan Documents for Salaried

  • 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

PNB Home Loan Documents for Self Employed

  • 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

Additional documents

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

Also Read : Best Home Loan Documents Required

Frequently Asked Questions

Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.

The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.

To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need

You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.

Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.

Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.