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When planning to apply for a home loan with Punjab National Bank (PNB), understanding the eligibility criteria is crucial. Meeting these requirements ensures smoother approval and avoids delays. Here’s a breakdown of what PNB looks for when assessing a home loan application.
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Punjab National Bank Home Loan Eligibility Criteria
PNB considers several factors before approving a home loan application. The eligibility criteria ensure that borrowers can manage loan repayments comfortably. Below is a detailed list of the key parameters:
| Criteria | Details |
|---|---|
| Age | Minimum: 21 years, Maximum: 65 years at loan maturity |
| Credit Score | 611+ |
| LTV | Up to 90% |
| Resident Status | You should be a permanent resident of India. |
| Work Experinece | Minimum work experience of 3 years |
PNB Home Loan Eligibility Based on Salary
The table below shows the maximum loan amount that you qualify for based on your income. This was computed with a 30-year repayment period, a set annual interest rate of 8.75%, and the assumption that there had been no previous EMIs.
Check whether you qualify for a house loan based on your earnings by using the PNB home loan eligibility calculator.
| Monthly Income | Loan Amount |
|---|---|
| Rs. 25,000 | Rs.15,18,372 |
| Rs. 30,000 | Rs.20,49,802 |
| Rs. 35,000 | Rs.23,91,436 |
| Rs. 45,000 | Rs.30,74,703 |
| Rs. 50,000 | Rs.34,16,337 |
| Rs. 55,000 | Rs.41,75,523 |
| Rs. 60,000 | Rs.45,55,116 |
| Rs. 65,000 | Rs.49,34,709 |
| Rs. 70,000 | Rs.53,14,302 |
| Rs. 75,000 | Rs.56,93,895 |
PNB Home Loan Checklist Based on Value of Property
| Value of the Property | LTV Ratio |
|---|---|
| Up to Rs.30 lakh | 90% of the property cost |
| From Rs.30 lakh to Rs.75 lakh | 80% of the property cost |
| Above Rs.75 lakh | 75% of the property cost |
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Eligibility Criteria for all Punjab National Bank Home Loan Products
| Home Loan Product | Eligibility Criteria |
|---|---|
| PNB Home Loan | Age: 21 to 70 years Nationality: Indian Tenure: 30 years Minimum Salary: 15,000/ month |
| PNB Plot Loan | Age: 21 to 70 years Nationality: Indian Tenure: 30 years Profession: Salaried individual, Self employed or Business owner |
| PNB Home Construction Loan | Age: 21 to 70 years Nationality: Indian Tenure: 30 years Work Experience: 3 years work experience for salaried applicants and 5 years business continuity for self-employed |
| PNB Home Improvement Loan | Age: 21 to 70 years Nationality: Indian Minimum Salary: 15,000/ month |
| PNB NRI Home Loan | Age: 21 to 70 years Nationality: Person of Indian Origin (PIO) holding an Indian passport with status of NRI on deputation/ employment/ assignment |
Punjab National Bank Home Loan Interest Rates
Check out the table below for the current Home Loan rates on offer, subject to your credit score.
| Credit Score | Salaried | Non Salaried |
|---|---|---|
| ≥ 825 | 8.5% to 9% | 8.8% to 9.3% |
| > 800 to 825 | 8.8% to 9.3% | 8.95% to 9.45% |
| > 775 to 799 | 9.1% to 9.6% | 9.65% to 10.15% |
| > 750 to ≤ 775 | 9.25% to 9.75% | 9.8% to 10.3% |
| > 725 to ≤ 750 | 9.55% to 10.05% | 10.25% to 10.75% |
| > 700 to ≤ 725 | 9.85% to 10.35% | 10.55% to 11.05% |
| > 650 to ≤ 700 | 10.25% to 10.75% | 10.75% to 11.25% |
| Up to 650 | 10.25% to 10.75% | 10.75% to 11.25% |
| NTC CIBIL ≥ 170 | 10.25% to 10.75% | 10.65% to 11.15% |
| NTC CIBIL < 170 | 10.15% to 10.65% | 10.55% to 11.05% |
Check Out: PNB Home Loan Interest Rates 2025
Factors Impacting Eligibility for PNB Home Loans
The following criteria determine your eligibility for an PNB home loan:
- The age of the applicant
- The applicant’s credit rating
- The applicant’s pay or source of income
- Debt to income ratio
- Property value
- Repayment capacity
- Property type and purpose
Also Read: How to Apply for a PNB Home Loan?
How to Improve PNB Home Loan Eligibility
- Boost Your Credit Score: Maintain a high credit score (750 and above) by paying bills on time and reducing outstanding debts.
- Reduce Existing Debts: Lower your current liabilities to decrease your debt-to-income ratio, making you a more attractive borrower.
- Ensure Stable Employment: Maintain a steady job or consistent business income for at least 2-3 years to demonstrate financial stability.
- Increase Your Income Documentation: Provide comprehensive proof of income, including salary slips, income tax returns, and bank statements.
- Avoid Late Payments: Make all loan and credit card payments promptly to build a strong credit history.
- Keep Credit Utilization Low: Use only a small portion of your available credit to enhance your creditworthiness.
- Save for a Higher Down Payment: A larger down payment reduces the loan amount needed, improving your repayment capacity.
- Include a Co-Applicant: Adding a co-borrower with a strong financial profile can enhance your eligibility and loan terms.
- Choose the Right Property Type: Invest in properties located in PNB -approved areas with high market demand to ensure favorable loan terms.
Also Read: PNB Home Loan Insurance
Punjab National Bank Home LoanProcessing Fees and Charges
| Fee Type | Amount |
|---|---|
| Processing Fees* | 0.35% of the loan amount Minimum – ₹2,500 Maximum – ₹15,000 |
| Documentation Charges* | ₹1,350 |
| Takeover of Loan – Processing Fees | ₹2,500 |
| Takeover of Loan – Documentation Charges | ₹1,350 |
| PMAY (EWS/LIG) Loan up to ₹6 lakh | NIL |
| Additional Loan Beyond PMAY Limit | As per existing housing loan scheme |
How to Use Credit Dharma’s Eligibility Calculator?
Credit Dharma provides a straightforward 4-in-1 eligibility calculator to help you assess your eligibility for an ICICI home loan. Here’s how to use it:
- Open the Credit Dharma 4-in-1Home Loan Calculator
- Input your details
- Review the results, which will show your eligibility status, potential loan amount, monthly EMI amount, etc
- Based on the results, decide whether to proceed with your application or take additional steps to enhance your eligibility.
Note that this calculator provides an estimate. Your final loan approval and amount may differ based on additional factors and verification.
Home Loan Interest Rates by Top Banks
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.15% onwards | 8.15% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Home Loan Processing Fees by Top Banks
| Bank | Home Loan Processing Fee |
|---|---|
| SBI (State Bank of India) | 0.35% of the loan amount (min ₹2,000, max ₹10,000) + GST |
| HDFC Bank | Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher |
| ICICI Bank | 0.50% of the loan amount (min ₹3,000, max ₹5,000) + GST |
| Axis Bank | 1% of the loan amount or ₹10,000 (whichever is lower) |
| Kotak Mahindra Bank | 0.5% – 1.00% of the loan amount |
| Bajaj Housing Finance | Up to 4% of the loan amount |
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Conclusion
Punjab National Bank’s home loan eligibility criteria are designed to ensure that applicants are capable of managing their loans responsibly. Using tools like Credit Dharma’s eligibility calculator and improving your financial health by focusing on credit score, debt management, and employment stability can improve your chances of securing the loan.
Before applying, make sure you’re well-prepared by reviewing your eligibility, gathering necessary documents, and planning for a smooth loan process.
Frequently Asked Questions
Yes, PNB offers loans to self-employed individuals. However, you’ll need to meet specific criteria, including a minimum monthly income of ₹50,000 and a business vintage of at least 3 years.
PNB does offer certain loan products to NRIs. However, eligibility criteria and documentation requirements may differ. It’s best to contact PNB directly for specific NRI loan options.
Yes, applicants must be at least 21 years old and not exceed 70 years at loan maturity.
Ideally, your debt-to-income ratio should be below 40% for smoother approval.
Yes, having a co-applicant with a strong financial profile can improve your eligibility.
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