PNB Home Loan EMI Calculator

The PNB home loan EMI calculator provides you a convenient way to calculate your housing loan EMI and helps you to plan your budget effectively by knowing exactly how much EMI amount you need to pay each month. This innovative user friendly EMI calculator allows the potential buyers to input the key parameters for calculating housing loan EMIs. This powerful PNB housing loan EMI calculator will show you the results as mentioned below:

• Monthly Home Loan EMI
• Total interest payable during the tenure
• Total Amount Payable

You can save a lot of time and efforts by quickly evaluating different housing loan scenarios.

How to Use PNB Housing Loan EMI Calculator?

PNB Housing Loan EMI calculator is a simple and user-friendly tool designed to provide you with the precise value of the monthly EMI on a home loan. The device is very straightforward and requires you to input the following details:

• The principal home loan amount you desire to take
• Duration of home loan/loan tenure
• The expected home loan interest rate

After providing all the details, you will get the monthly EMI amount that you can avail upon maturity.

Example Calculation of 50 Lakh Home Loan EMI from Punjab National Bank for 20 Years

By using the above PNB housing loan EMI calculator, we have compiled a table for your reference only as mentioned below:

Home Loan Amount	₹50,00,000
Loan Tenure	20 Years
Rate of Interest	8.50% p.a
Home Loan EMI	₹43,391
Interest Payable	₹54,13,840
Total Amount Payable	₹1,04,13,840

Disclaimer: This above table is for your reference only.

Benefits & Features of PNB Home Loan EMI Calculator

The PNB Home Loan EMI calculator is infused with various features that can benefit borrowers in various ways. They are as follows:

Calculate your PNB Bank Home Loan EMI

When it comes to a housing loan, there isn’t any tool better for financial planning. Once you have reviewed the home loan eligibility criteria and used the home loan eligibility calculator to estimate how much housing loan you can afford, you can compute the home loan EMI precisely with the PNB Home Loan EMI calculator. 

Determine the Total PNB Home Loan Interest Component

Once you have furnished the desired housing loan amount, the tenure, and the home loan interest rate in the calculator, it will show the total payment amount and the total interest component. This will render you a precise idea of the interest amount you will have to pay on your loan. 

Decide the Suitable Tenure

You can accurately decide the optimum EMI for a home loan by dragging the tenure slider on a home loan tenure calculator. Whatever term compares to that is the suitable term for you. The longer the tenure, the lesser the EMI. 

Compare Two or More Home Loan Offers

Before you apply for a home loan, review various multiple home loan offers with varying interest rates and tenures. Compare various home loan offers by determining the EMI for each of them using the PNB Home Loan EMI calculator. 

Review the Amortisation Schedule

You can use the PNB Housing Loan EMI calculator to check the breakdown of your home loan amortisation schedule. This provides you with an insight into how the two elements of your EMI will differ throughout the tenure – the interest factor reducing and the principal factor increasing.

Formula and Working of PNB Home Loan EMI Calculator

PNB Home Loan EMI calculator is designed to help you determine the monthly EMI payments before you apply for a loan. The EMI calculator asks you to fill up the desired loan amount, and choose the interest rate and loan tenure. Based on the details furnished by you, you can plan, compute, and distribute your loan EMIs over a convenient term. 

Another way to calculate PNB Home Loan EMI is through a formula, which is as follows:

E = P . R . (1+R)^N/((1+R)^N – 1)

Where E = EMI (Equated Monthly Installment)

• P = Principal Loan Amount
• R = Monthly Interest Rate
• N = Monthly Loan Tenure

Let us understand it with the help of an example.

Assume that an individual applied for a home loan of ₹50 lakhs at PNB. The bank offered him a loan duration of 25 years at an interest rate of 8.5%. 

Using the PNB Home Loan EMI Calculator, you will get the following –

This individual will have to pay a monthly EMI of ₹ 40,261, while the total interest payable amount would be ₹ 70,78,406. The total payment until the end of the tenure would be ₹ 1,20,78,406.

Using the formula, you will get –

E = 50,00,000 x 8.5 x (1 + 8.5) ^ 25/((1+8.5) ^ 25 – 1)

E = ₹ 40,261.

Eligibility Criteria that Influence the Approval of PNB Home Loan

Before you apply for a home loan, it is important to be aware of all the criteria that influence the chances of approval of your loan application. We have listed down the factors used by the Punjab National Bank to determine an applicant’s eligibility for a home loan:

• Nationality: The person applying for a PNB Home Loan must be a citizen of India.
• Credit Score: Like most lenders, Punjab National Bank grants home loans to individuals with a stable credit history, and a minimum credit score of 750 or above is essential. 
• Age: The age of the individual opting for a loan must be between 21 and 65 years. Besides, the applicant’s age should not exceed 70 years during the loan maturity. 
• Loan to Value Ratio (LTV): It is defined as the ratio of the amount of loan sanctioned to the property’s value for which the loan is obtained. LTV is usually represented in percentages. PNB allows an LTV of up to 85%, implying that an amount equivalent to 85% of the property’s value can be availed as a home loan from the bank. 
• Salary and Employment: To qualify for the PNB Home Loan, you must have a regular source of income. You can be either self-employed or salaried and must have a minimum employment history of 5 years (for self-employed individuals) or three years (for salaried employees).

Impact on Punjab National Bank Home Loan EMI Calculations after the Repo Rate Cut by RBI on February 7, 2025

After the recent cut in the RBI’s repo rate, which generally leads to a corresponding decrease in home loan interest rates, let’s examine how this impacts the Equated Monthly Installments (EMIs) for a home loan of INR 50 Lakhs from Punjab National Bank.

Impact on EMIs: A Comparative Analysis

Loan Amount: INR 50 Lakhs

Interest Rate Reduction: 0.25% decrease following the repo rate cut.

Scenario 1: 10-Year Loan Tenure

• Before Repo Rate Cut:

Interest Rate: 7.75% per annum

Monthly EMI: INR 60,005

• After Repo Rate Cut:

Interest Rate: 7.50% per annum (7.75% – 0.25%)

Monthly EMI: INR 59,351

EMI Reduction: INR 654 per month, which leads to savings, particularly over the span of 10 years.

Scenario 2: 20-Year Loan Tenure

• Before Repo Rate Cut:

Interest Rate: 8.00% per annum

Monthly EMI: INR 41,822

• After Repo Rate Cut:

Interest Rate: 7.75% per annum (8.00% – 0.25%)

Monthly EMI: INR 41,047

EMI Reduction: INR 775 per month, significantly enhancing savings over 20 years.

Summary

The reduction in the repo rate by the RBI results in lower home loan interest rates offered by banks like Punjab National Bank. This decrease benefits you as a borrower by reducing your monthly outgoings on EMIs. For a 10-year loan, your monthly EMI decreases by INR 654, and for a 20-year loan, by INR 775. Over the life of the loans, these reductions accumulate to substantial savings, making it a beneficial move for borrowers looking to manage their finances more effectively.