Understand your EMIs before you commit! The PNB Home Loan EMI Calculator offers quick insights on payments, while Credit Dharma ensures you get the best rates, expert support, and lifelong guidance on your home loan journey.
PNB Home Loan Interest Rates
The interest rate is a key factor in determining your EMI. PNB offers competitive interest rates to make homeownership affordable. The rates are dynamic and change based on RBI policies and the borrower’s credit profile.
Check the PNB Home Loan Interest Rates for the latest interest rates.
| Loan Type & LTV Ratio | CIBIL Score | Floating Rate | Fixed Rate (Upto 10 Years) | Fixed Rate (Above 10 Years) |
|---|---|---|---|---|
| Loan > ₹30 Lakhs (LTV ≤ 80%) | 800 & above | 8.90% | 9.90% | 10.40% |
| Irrespective of Loan Amount (LTV ≤ 80%) | PNB Pride*, 750 & above | 8.95% | 9.95% | 10.45% |
| 700-749 | 9.40% | 10.40% | 10.90% | |
| 600-699 | 10.50% | 11.50% | 12.00% | |
| Loan ≤ ₹30 Lakhs (LTV 80%-85%) | PNB Pride*, 750 & above | 9.05% | 10.05% | 10.55% |
| 700-749 | 9.50% | 10.50% | 11.00% | |
| 600-699 | 10.60% | 11.60% | 12.10% |
Pro Tip: If your credit score is low, consider working on it for 3-6 months before applying for a home loan.
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How is PNB Home Loan EMI Calculated?
The EMI for an PNB home loan is calculated using the following standard formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
Where:
- P = Loan Amount
- R = Monthly Interest Rate (Annual Rate ÷ 12)
- N = Loan Tenure in Months
Example Calculation:
If you borrow ₹50 lakhs at an interest rate of 8.5% p.a. for a tenure of 20 years, the calculation will be:
- Loan Amount (P) = ₹50,00,000
- Interest Rate (R) = 8.5%/12 = 0.7083% per month
- Loan Tenure (N) = 20 years × 12 = 240 months
Using the EMI formula, the monthly EMI will be around ₹43,391.
Pro Tip: If your credit score is low, consider working on it for 3-6 months before applying for a home loan.
How to Use PNB Home Loan EMI Calculator
The PNB Home Loan Calculator is a powerful tool to help you calculate your monthly EMI, total interest payable, and overall repayment amount with precision. Follow these steps to use the calculator effectively:
- Input the Loan Amount
Use the slider or enter the amount you wish to borrow in the “Loan Amount” field (e.g., ₹88,00,000).
The loan amount determines the base on which your EMI is calculated. - Set the Interest Rate
Adjust the interest rate slider to match PNB current home loan interest rate (e.g., 11.85% p.a. in this example).
Refer to the PNB Home Loan Interest Rate to get the latest applicable interest rates. - Choose the Loan Tenure
Select the repayment period using the slider or input the desired loan tenure in years (e.g., 15 years).
Longer tenures lower your EMI but increase the total interest payable. - Review the Results
The calculator will display:
Monthly EMI: The fixed monthly payment (e.g., ₹1,04,767).
Interest Amount: The total interest you’ll pay over the loan tenure (e.g., ₹1,00,58,069).
Total Payable: The total amount you’ll repay, including the loan amount and interest (e.g., ₹1,88,58,069).
A pie chart visually represents the split between the loan amount and the interest payable.
How to Reduce PNB Home Loan EMI?
Here are some strategies to reduce your PNB Home Loan EMI and save money on your home loan:
| Tip | Description |
|---|---|
| Make Prepayments | Pay a lump sum to reduce the outstanding principal, which lowers your EMI. |
| Negotiate for Lower Interest Rates | If your credit score is good, request a lower interest rate. |
| Choose a Longer Tenure | Opt for a longer tenure to reduce your monthly EMI, but note that it increases the total interest cost. |
Pro Tip: Use the PNB Home Loan Prepayment Calculator to learn how to make prepayments and reduce your EMI.
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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 | 8.40% – 10.65% p.a. | 8.40% – 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 |
Get the Best PNB Home Loan Offers with Credit Dharma
Credit Dharma is your trusted partner for securing the best PNB Home Loan offers, with over ₹500 Cr+ loans handled and partnerships with 20+ leading banks. We provide exclusive access to the lowest interest rates and a seamless, digital process with fast approvals in just 1-2 weeks, backed by lifetime support from our home loan experts.
Why choose Credit Dharma? We provide:
- Lowest Interest Rates: Save more with every EMI.
- Maximum Funding: Get up to 100% funding for your dream home.
- Simple & Digital Process: No tedious paperwork or branch visits.
- Expert Guidance: Lifetime support from our team of specialists.
Compare, choose, and secure the best PNB Home Loan offer with Credit Dharma — your home loan journey starts here!
Conclusion
The PNB Home Loan Calculator is here to make your home-buying journey smoother and stress-free. It’s a simple yet powerful tool that gives you quick and accurate insights into your financial responsibilities, helping you plan with confidence. Best of all, it’s completely free!
Whether you’re dreaming of your first home or managing your loan repayments, this calculator is your trusted partner every step of the way. And if you need more personalized guidance, the friendly experts at Credit Dharma are just a call away to support you on your path to homeownership.
FAQs
EMI, or Equated Monthly Instalment, refers to the fixed payment amount that a borrower is required to pay to the lender each month until the loan period concludes.
The EMI amount remains constant if the home loan is obtained at a fixed interest rate. However, for loans with a floating interest rate, the EMI can fluctuate over the loan tenure. Regardless of the interest type, making partial prepayments can result in lower EMI amounts.
Utilizing an online EMI calculator is beneficial as it offers precise estimations of your monthly payments swiftly, thereby saving you valuable time in financial planning.
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