PNB Housing Finance Home Loan Interest Rates

Punjab National Bank Housing Finance
4.5

A home loan from PNB Housing Finance is easy to avail and repay as it sounds. You can finance your dream home with interest rates starting at 8.75% per annum for salaried applicants and 8.99% per annum for self-employed applicants. You can get a loan of up to Rs. 25 lakhs, subject to 90% of the property value. This loan can be availed at flexible loan tenures of up to 30 years. The low processing fee and customer-friendly features make this loan ideal for the general public.

  • Punjab National Bank Housing Finance Home Loan Interest Rate

    Home Loan offer for You

  • 8.5% - 11.25%

    Interest Rate (p.a.)
  • ₹1L - ₹5Cr

    Tenure(1 - 30 Years)
  • ₹2,052 - ₹2,187

    EMI Per Lakh

Check Latest Home Loan Offer From PNB Housing Finance

  • Punjab National Bank Housing Finance Home Loan Interest RateHome Loan offer for You
  • 8.5% - 11.25%

    Interest Rate (p.a.)
  • ₹1L - ₹5Cr

    Tenure(1 - 30 Years)
  • Up to 1% of the loan amount

    Processing Fee

Compare PNB Housing Finance Home Loan Interest Rates with Other Lenders

One of the key aspects of applying for a loan is navigating the prevailing interest rates across several lenders. This will provide significant insight into how lenders offer their loan products from a comparative angle. Customers can then proceed to the ones whose rates are feasible for them. Below is a table showing the home loan interest rates across some top banks.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Punjab National Housing Finance offers home loans for individuals to purchase or construct a house. The PNBHF home loan interest rates offered are competitive and can be customised to suit the borrower's needs. The bank also provides various repayment options and flexible loan tenures to make the home loan journey smooth for the borrowers. The scheme has been designed to cater to the needs of a vast customer base with various features and benefits such as flexible tenures, attractive loan-to-value ratio, low processing fees, and much more. In this guide, read about the Punjab National Bank Housing Finance home loan interest rates applicable in the year 2023 and tips for making the best use of the scheme.

Punjab National Housing Finance Home Loan Highlights

The PNB Housing Finance home loan scheme is a one-stop solution for borrowers looking to buy a new house, renovate an existing house, construct a house, buy a plot, or refinance an existing home loan. PNB HF home loan also provides up to 90% of the loan-to-property value ratio, making it a lucrative financial aid option. Here are some of the highlights of the scheme:

  • Affordable Interest Rates: PNB offers home loans as low as 8.50% annually. And depending on the creditworthiness of the borrower, the interest rates are offered lucratively. 
  • Multiple Home Loan Facility: Another great feature of PNB home loans is the many options available for customers. With an array of home loan schemes available, borrowers can avail of financial aid for constructing, renovating, or purchasing a property. 
  • Flexible Tenure: Borrowers can choose their repayment tenure up to 30 years. 
  • Easy Loan Processing: The processing fees and charges are minimal and kept at competitive rates. Moreover, customers can enjoy the benefits of fast capital disbursement. 
  • Competitive CIBIL score requirement: Customers should have a minimum of 611 credit ratings to avail of the home loan benefits and attractive interest rates. 
  • Age Factor: Borrowers should be 21 to 70 years to be considered for the loan sanction. 
  • Consistent Customer Service Experience: PNB HF ensures the best customer experience with 24x7 customer support on any queries. 

Punjab National Housing Finance Home Interest Rates on Loan Schemes

The Punjab National Bank Housing Finance home loan for up to INR 35 Lakhs is below:

Credit ScoreSalaried/Self-Employed ProfessionalSelf-Employed Non-Professional 
>=8008.5% to 9%8.55% to 9.05%
>775 to 7998.8% to 9.3%9.25% to 9.75%
>750 to <=7758.95% to 9.45%9.4% to 9.9%
> 725 to < =7509.25% to 9.75%9.85% to 10.35%
> 700 to <= 7259.55% to 10.05%10.15% to 10.65%
> 650 to <= 7009.75% to 10.25%10.15% to 10.65%
upto 6509.75% to 10.25%10.15% to 10.65%
NTC Cibil >=1709.75% to 10.25%10.15% to 10.65%
NTC Cibil <1709.75% to 10.25%10.15% to 10.65

The Punjab National Housing Finance home loan for the amount above INR 35 Lakhs is as given below:

Credit ScoreSalaried/Self-Employed ProfessionalSelf-Employed Non-Professional
>=8008.5% to 9%8.55% to 9.05%
>775 to 7998.9% to 9.4%9.4% to 9.9%
>750 to <=7759.05% to 9.55%9.75% to 10.25%
> 725 to < =7509.4% to 9.9%9.9% to 10.4%
> 700 to <= 7259.75% to 10.25%10.35% to 10.85%
> 650 to <= 7009.95% to 10.45%10.35% to 10.85%
upto 6509.95% to 10.45%10.35% to 10.85%
NTC Cibil >=1709.95% to 10.45%10.35% to 10.85%
NTC Cibil <1709.95% to 10.45%10.35% to 10.85%

Punjab National Housing Finance Home Interest for Salaried and Self-Employed

One of the primary conditions for availing of the PNB HF home loan facility is that the customer should be within the salaried or self-employed category. The interest rates start at different values for these classifications. For salaried borrowers, the interest rate starts from 8.50% per annum, whereas for self-employed customers, the rate starts from 8.55% per annum. Moreover, depending on the credit score, the rate increases to 10.25% for the salaried and 10.65% for the self-employed. For loan amounts more than INR 35 Lakhs, the maximum limit for these borrowers will be 10.45% for salaried borrowers and 10.85% for self-employed borrowers. 

Punjab National Housing Finance Home Interest for Govt Employee

Since government employees come under the salaried class, the interest rate for the PNB HF home loan will start from 8.50% per annum. However, depending on the borrower’s creditworthiness, the interest rate can increase to 10.25% for amounts up to INR 35 Lakhs and 10.45% for amounts more than INR 35 Lakhs. 

Punjab National Housing Finance Bank Home Loan Interest Rate For Women

Punjab National Bank Housing Finance home loan facility is available for anyone fulfilling the eligibility criteria, including women. The PNB HF home loan interest rate for salaried women ranges from 8.50% to 10.65%, and self-employed borrowers can expect an interest rate ranging from 8.55% to 10.85%. 

Punjab National Housing Finance Bank Home Loan Interest Rate For NRI

Non-resident Indians are also eligible for the Punjab National Bank home loan scheme with attractive and minimal interest rates. The bank offers Non-Resident Indian (NRI) and Persons of Indian Origin (PIO) borrowers various home loan options with interest rates starting at 9.25% p.a. over a maximum loan repayment period of 15 years. The loans offer flexible repayment schemes with EMI per lakh as low as Rs.1,0291.

Punjab National Housing Finance Home Loan Rate Trends

Here are historical Punjab National Housing Finance Home Loan interest rates trends.

Loan DisbursedSalaried/Self-Employed ProfessionalsBusinessmen/Self-Employed Non-Professionals
September 25, 2020, onwards12.00% p.a.12.50% p.a.
16th March 2020 onwards10.55% p.a.10.60% p.a.
June 1, 2019, onwards10.90% p.a.10.95% p.a.
March 6, 2019, onwards11.29% p.a.11.35% p.a.
July 1, 2018, onwards11.20% p.a.11.35% p.a.
Between March 1, 2017 - June 30, 2018,11.50% p.a.11.55% p.a.

Punjab National Housing Finance Home Loan Fees and Charges

Customers applying for the Punjab National Bank Housing Finance Home Loan scheme must pay a certain amount of fees and charges, which are non-refundable. The details for these charges are as detailed below:

Fees and ChargesAmount
Processing FeeUp to 1% of the loan amount
Prepayment ChargesNil for floating rate loans
Penal Interest2% per month
Cheque Bounce ChargesRs. 500 per cheque
CERSAI ChargesRs. 50 per transaction.

How to Calculate Punjab National Housing Finance Home Loan Interest?

To calculate the Punjab National Housing Finance Home Loan Interest, you can follow these steps:

  • Visit the website of Urban Money and navigate to the home loan EMI Calculator section.
  • Look for the interest rate table and find out the applicable rate of interest for your home loan amount and repayment tenure.
  • Use the EMI calculator provided on the website to calculate the Equated Monthly Installment (EMI) payable on your home loan. You must enter the loan amount, interest rate, and repayment tenure in the calculator.
  • The calculator will provide you with the EMI amount, the total interest payable over the loan tenure, and the total amount payable (principal + interest) on loan.

Alternatively, you can use a manual formula to calculate the interest payable on your home loan. The formula is

Interest Payable = (Principal x Interest Rate x Tenure)/100

Where,

  • Principal: The amount of loan you have taken.
  • Interest Rate: The rate of interest applicable on your home loan.
  • Tenure: The repayment tenure of your home loan in months.

Why are Punjab National Housing Finance Home Loan Interest Rates the Best for Customers?

Punjab National Bank Housing Finance is a leading provider of home loans in India, and they offer a range of home loan products to suit different customer needs. Their interest rates are competitive and based on market conditions, which means they can change over time. One advantage of getting a home loan from Punjab National Bank Housing Finance is their transparency in their interest rates. They have a fixed interest rate for a specific period, meaning your interest rate will not change. This can help you plan your finances better and avoid surprises in your monthly payments.

Punjab National Bank Housing Finance Home Loan Interest Rates for Existing Customers

PNB Housing Finance home loan interest rates start from 8.50% for the salaried class and 8.55% for the self-employed class. The interest rate can increase further concerning the CIBIL score of the individual. 

Factors that affect Punjab National Bank Housing Finance Home Loan Interest Rate and EMI

Several factors can affect the interest rate and EMI (Equated Monthly Installment) for a home loan from Punjab National Bank Housing Finance, including

  • Credit score: Your credit score is a key factor that lenders consider when determining the interest rate for your home loan. 
  • Loan amount: The loan amount you are applying for can also affect the interest rate. Generally, larger loans may have a higher interest rate than smaller ones.
  • Loan tenure: The tenure or duration of the loan also impacts the interest rate. Generally, longer-tenure loans have a higher interest rate than shorter-tenure loans.
  • Type of interest rate: PNB Housing Finance offers both fixed and floating interest rate options. Fixed interest rates remain constant throughout the loan tenure, while floating interest rates fluctuate based on market conditions.
  • Income and employment stability: Your income and employment stability are also taken into consideration by lenders. A stable income and employment history can increase your chances of getting a lower interest rate.
  • Loan-to-value ratio: The loan-to-value (LTV) ratio is the percentage of the property value that you can borrow as a loan. A higher LTV ratio may result in a higher interest rate.
  • Property type and location: The type and location of the property you are purchasing can also impact the interest rate. Properties in prime locations and good condition may have a lower interest rate than properties in less desirable locations or those requiring repairs.

Frequently Asked Questions (FAQs)

Does Punjab National Bank Housing Finance provide 90% of home loans?

Yes, Punjab National Bank Housing Finance home loan provides up to 90% loan-to-property value ratio.

What is the EMI for 30 lakhs home loan for 20 years?

Customers borrowing INR 30 Lakh home loans for 20 years must pay an EMI of INR 17,041.

How can I reduce my interest rate on the Punjab National Bank Housing Finance home loan?

You can try negotiating with PNB Housing Finance to lower your interest rate based on your creditworthiness and repayment history. Also, you can consider transferring your loan to another lender who offers a lower interest rate or refinancing your loan with PNB Housing Finance at a lower rate.

What is the average interest rate for a home loan in Punjab National Bank Housing Finance?

The average interest rate for a PNB Housing Finance home loan ranges from 8.50% to 10.25% per annum.

Urban Money