50 Lakh Home Loan PNB

Punjab National Bank (PNB) is one of the most trusted names in the banking domain, offering a diversity of financial products to fulfil the diverse requirements of its clients. One such offering is the 50 Lakh Home Loan, designed to empower individuals to turn their dream of owning a home into reality.

PNB combines flexible repayment options, competitive interest rates, and a streamlined application process, making it a lucrative option for those seeking financial assistance for house purchases. This blog post will discuss a PNB 50 lakh home loan. 

50 Lakh Home Loan PNB: Highlights

Loan Amount	Interest Rate	Loan Tenure	Processing Fee	Prepayment Charges
50 Lakh	Competitive	Up to 30 years	As per bank norms	Nil

50 Lakh Home Loan EMI for 10 Years PNB 

Opting for a 10-year repayment tenure for your 50 Lakh Home Loan from PNB ensures quicker debt clearance with manageable monthly installments. Moreover, the PNB home loan interest rate for 50 lakh amount, combined with this shorter duration, can result in considerable savings over the life of the loan.

Besides, borrowers taking a 50 Lakh Home Loan for 10 years from PNB can enjoy the comfort of a lower EMI burden while fulfilling their homeownership dreams.

50 Lakh Home Loan EMI for 20 Years PNB

For those seeking a more extended repayment period, the PNB 50 Lakh Home Loan for 20 years is an excellent option. While this may result in slightly increased monthly instalments, it offers borrowers the flexibility to handle their finances more comfortably over an extended duration.

Furthermore, PNB’s competitive interest rates continue to make the long-term repayment option an attractive choice for those looking for affordable EMIs.

50 Lakh PNB Home Loan: Fees and Charges 

PNB maintains transparency by outlining transparent and reasonable fees and charges associated with the 50 Lakh Home Loan. Applicants can expect to bear processing fees as per the bank’s norms.

In addition, it is advisable to examine and understand these charges and check the accurate EMI amount for the 50 lakh loan EMI calculator PNB before proceeding with the loan application.

50 Lakh PNB Home Loan: Documents Required

Different documents are required when you apply for a 50 lakh PNB home loan. Let’s have a look:

• Application form along with latest photographs
• Address Proof: Ration Card, Aadhar card, Driving License, Passport, Telephone Bill, Election Card, or any other certificate issued by a Statutory authority
• Age Proof: PAN Card, Passport, or any other government-issued certificate
• Income Proof:
• (For Salaried Applicants): Form 16 for the last 2 years, Salary slips of the last 3 months, bank statements from the last 6 months
• (For Self-Employed Applicants): Income proof for business and ITR for the last 3 years; Accountant-certified balance sheets for the last 12 months, bank account statements
• Other Documents such as property title, approved plans, etc.

50 lakh PNB home loan: Eligibility Criteria

Explore the prerequisites for eligibility in obtaining a 50 Lakh Home Loan from PNB:

Salaried Applicants:

1. Age: Applicant should be at least 21 years old while applying and not more than 70 years old at the time of loan maturity. 
2. Residency: Applicants must be permanent residents of India.
3. Work experience: Three years of minimum work experience is needed.
4. Minimum salary: INR 15,000 or more per month is the minimum necessary.
5. Loan amount: INR 8 lakh onwards
6. Tenure: Maximum tenure of 30 years
7. LTV: 90% or more
8. Credit Score Requirement: 611+

Self-Employed Applicants:

1. Age: Applicant should be at least 21 years old while applying and not more than 70 years old at the time of loan maturity
2. Residency: You should be a permanent resident of India.
3. Work Experience: You should have at least 3 years of business continuity.
4. Loan Amount: INR 8 lakh onwards.
5. Tenure: Up to 20 years.
6. LTV: Up 90%
7. Credit Score Requirement: A minimum credit score of 611 is needed to apply for a Home Loan.
8. Additional: You apply for income tax returns.