Punjab National Bank Home Loan

PNB Home Loan Interest Rate

Punjab National Bank (PNB) offers a diverse range of home loan schemes tailored to meet the needs of different customer segments. PNB is known for its trustworthy services and competitive interest rates. Here’s a detailed overview of PNB home loan offerings:

Key Features of Punjab National Bank Home Loan

FeatureDescription
Interest RateStarts at 8.80% p.a.
Loan AmountUp to Rs. 1 crore, based on eligibility
Processing Fees0.35% of the loan amount plus GST
Maximum TenureUp to 30 years (maximum)
Rate PackagesFixed rates, floating rates, and hybrid options
Subsidized RatesAvailable for EWS, LIG, and MIG under PMAY scheme

Punjab National Bank Home Loan Interest Rates Based on CIBIL Score

CIBIL Score RangeInterest Rates
>8008.80%
750 – 7998.85%
700 – 7499.00%
600 – 6999.35%

Types of Punjab National bank Home Loan Schemes

  1. Home Purchase Loan: For buying residential property.
  2. Home Improvements: Covers renovation and repairs.
  3. Home Construction: Supports building a new house.
  4. Home Extension: Allows expansion of an existing home.
  5. NRI Home Loans: Tailored for NRIs and PIOs.
  6. Unnati Home Loans: Quick disbursal with rates starting at 11.70%.
  7. Residential Property Loan: For acquiring residential plots.
  8. PNB PMAY Home Loan: Credit Linked Subsidy Scheme (CLSS) for LIG, MIG, and EWS categories.

Eligibility for PNB Home Loans

  • Age: 21 to 70 years at the loan maturity date.
  • Employment: Government employees, salaried individuals, professionals, businessmen, farmers, and self-employed.
  • Income: Minimum salary for salaried individuals, three years of experience for professionals and businessmen.
  • CIBIL Score: Above 611.

PNB PMAY Home Loan Scheme

The Pradhan Mantri Awas Yojna (PMAY) is a government-backed Credit Linked Subsidy Scheme (CLSS) aimed at providing affordable housing to different income groups. PNB offers PMAY Home Loans to eligible applicants.

PMAY Eligibility Criteria

  • Applicants from Lower Income Group (LIG), Middle Income Group (MIG), and Economically Weaker Section (EWS) are eligible.
  • Subsidy of up to Rs. 2.67 lakhs available.
  • Maximum loan amount varies based on income group and location.

Explore Punjab National Bank’s home loan options, including PMAY, and start your journey to homeownership today.

Documents Required for PNB Home Loan Application

Common documents include identity proof, address proof, income proof, and property-related documents.

Fees and Charges

  • Processing Fee: 0.35% of the loan amount.
  • Documentation Charges: Rs 1,350.

How to Apply for PNB Home Loan

  1. Research available loan schemes on Punjab National bank official website.
  2. Check your eligibility online.
  3. Gather the necessary documents.
  4. Apply online through the official website or reliable platforms.
  5. Complete the application form and upload required documents.
  6. PNB will review your application.
  7. Upon approval, the loan amount will be disbursed to your bank account.

Explore Punjab National Bank’s home loan options and start your journey to homeownership today.

Also check home loans from other banks

LenderHome Loan Interest Rates (Above 75 lakhs)Home Loan Interest Rates (Above 30 lakhs to 75 lakhs)Home Loan Interest Rates (Up to 30 lakhs)
LIC Housing Finance8.50% – 10.75%8.50% – 10.55%8.50% – 10.35%
State Bank of India8.50% – 10.05%8.50% – 10.05%8.50% – 10.15%
HDFC Bank Limited8.40% onwards8.40% onwards8.40% onwards

FAQs

What is the maximum tenure Punjab National Bank offers home loan for

The maximum tenure for the home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)


Are Punjab National Bank housing Finance interest rates fixed or floating?

Offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.


How is Interest Rate Determined for Punjab National Bank Home Loan

Punjab National Bank determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.

How can I calculate the EMI for Punjab National Bank Home Loan?

You can calculate the EMI for using any online EMI Calculator

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