# PNB Housing Finance (PNBHFL) Home Loan EMI Calculator

₹ 50k ₹ 5Cr
6.0% 30.0%
1 years 30 years
Principal Amount
Interest Amount

Monthly EMI

Principal Amount

Interest Amount

Tenure (Years)

Total Amount

## 2044

A housing loan may continue up to 30 years and using a loan calculator lets you choose the suitable combination. PNB Housing Finance (PNBHFL) home loan EMI calculator is quite easy to use and available online for free. The tool can be used as many times as you wish and the results are as quick as a blink of an eye. In this article, we will learn how to use the EMI calculator to get your monthly repayments instantly. We will also shed some light on its advantages and eligibility criteria to apply for a PNB housing finance home loan.

## How to Use Wishfin PNB Housing Finance Home Loan EMI Calculator?

The PNB Housing Finance Home Loan Calculator assists borrowers in checking their Equated Monthly Installments (EMI) before applying for a loan. The calculator takes into account the following basic details:

• Loan amount
• Interest rate
• Tenure

After entering these details, the calculator swiftly determines your monthly EMIs, the total interest payable, and the overall amount due, along with other relevant information. Additionally, you receive an amortization table that shows the maturity value for each year throughout the loan tenure.

## PNBHFL Home Loan EMI Calculation Formula

The calculator uses the below formula to calculate the monthly installment, total interest outgo and total repayment amount.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

For example, Ms. Verma avails a home loan worth ₹40,00,000 for a tenure of 20 years at an agreed-upon interest rate of 11.5%. Using the formula:

• Principal Amount (P): ₹40,00,000
• Interest Rate (R): 12.5% per annum (which is 12.5/12/100 = 0.0104 per month)
• Loan Tenure (n): 20 years, or 240 months

Let’s see how it works:

[40,00,000 x 0.0104 x (1 + 0.0104) ^ 240]/[(1+0.0104) ^240 -1] = 45,446

The EMIs you will be required to pay is ₹45,446

## PNB Housing Finance Home Loan Amortisation Schedule

Let us take an example that you want the loan amount INR 40 lakhs for a tenure of 25 years and an interest rate of 9% p.a. You will be paying the following in the form of your home loan EMI :

• Loan Amount – INR 40 lakhs
• Interest Rate – 9% p.a.
• Tenure – 25 years

The payment details will be as follows:

• Monthly EMI – INR 33,568
• Total Interest Outgo – INR 60,70,356
• Total Amount (Interest + Principal) – INR 1,00,70,356

Below is an example showing the details of the payments for the whole tenure.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 40,00,000 9% 1 ₹ 3,49,806 ₹ 1,97,671 ₹ 41,97,671
₹ 40,00,000 9% 2 ₹ 1,82,739 ₹ 3,85,735 ₹ 43,85,735
₹ 40,00,000 9% 3 ₹ 1,27,199 ₹ 5,79,162 ₹ 45,79,162
₹ 40,00,000 9% 4 ₹ 99,540 ₹ 7,77,928 ₹ 47,77,928
₹ 40,00,000 9% 5 ₹ 83,033 ₹ 9,82,005 ₹ 49,82,005
₹ 40,00,000 9% 6 ₹ 72,102 ₹ 11,91,355 ₹ 51,91,355
₹ 40,00,000 9% 7 ₹ 64,356 ₹ 14,05,930 ₹ 54,05,930
₹ 40,00,000 9% 8 ₹ 58,601 ₹ 16,25,678 ₹ 56,25,678
₹ 40,00,000 9% 9 ₹ 54,172 ₹ 18,50,537 ₹ 58,50,537
₹ 40,00,000 9% 10 ₹ 50,670 ₹ 20,80,437 ₹ 60,80,437
₹ 40,00,000 9% 11 ₹ 47,843 ₹ 23,15,304 ₹ 63,15,304
₹ 40,00,000 9% 12 ₹ 45,521 ₹ 25,55,057 ₹ 65,55,057
₹ 40,00,000 9% 13 ₹ 43,587 ₹ 27,99,606 ₹ 67,99,606
₹ 40,00,000 9% 14 ₹ 41,958 ₹ 30,48,860 ₹ 70,48,860
₹ 40,00,000 9% 15 ₹ 40,571 ₹ 33,02,719 ₹ 73,02,719
₹ 40,00,000 9% 16 ₹ 39,381 ₹ 35,61,082 ₹ 75,61,082
₹ 40,00,000 9% 17 ₹ 38,352 ₹ 38,23,840 ₹ 78,23,840
₹ 40,00,000 9% 18 ₹ 37,458 ₹ 40,90,883 ₹ 80,90,883
₹ 40,00,000 9% 19 ₹ 36,676 ₹ 43,62,099 ₹ 83,62,099
₹ 40,00,000 9% 20 ₹ 35,989 ₹ 46,37,369 ₹ 86,37,369
₹ 40,00,000 9% 21 ₹ 35,383 ₹ 49,16,577 ₹ 89,16,577
₹ 40,00,000 9% 22 ₹ 34,847 ₹ 51,99,601 ₹ 91,99,601
₹ 40,00,000 9% 23 ₹ 34,371 ₹ 54,86,320 ₹ 94,86,320
₹ 40,00,000 9% 24 ₹ 33,947 ₹ 57,76,613 ₹ 97,76,613
₹ 40,00,000 9% 25 ₹ 33,568 ₹ 60,70,356 ₹ 1,00,70,356

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount
1 ₹ 44,625 ₹ 3,58,189 ₹ 39,55,374
2 ₹ 48,811 ₹ 3,54,003 ₹ 39,06,563
3 ₹ 53,390 ₹ 3,49,424 ₹ 38,53,173
4 ₹ 58,398 ₹ 3,44,416 ₹ 37,94,774
5 ₹ 63,876 ₹ 3,38,937 ₹ 37,30,897
6 ₹ 69,868 ₹ 3,32,945 ₹ 36,61,028
7 ₹ 76,423 ₹ 3,26,391 ₹ 35,84,605
8 ₹ 83,592 ₹ 3,19,222 ₹ 35,01,013
9 ₹ 91,433 ₹ 3,11,381 ₹ 34,09,579
10 ₹ 1,00,010 ₹ 3,02,804 ₹ 33,09,569
11 ₹ 1,09,392 ₹ 2,93,422 ₹ 32,00,176
12 ₹ 1,19,654 ₹ 2,83,160 ₹ 30,80,522
13 ₹ 1,30,878 ₹ 2,71,936 ₹ 29,49,644
14 ₹ 1,43,155 ₹ 2,59,658 ₹ 28,06,488
15 ₹ 1,56,584 ₹ 2,46,229 ₹ 26,49,903
16 ₹ 1,71,273 ₹ 2,31,541 ₹ 24,78,629
17 ₹ 1,87,340 ₹ 2,15,474 ₹ 22,91,289
18 ₹ 2,04,914 ₹ 1,97,900 ₹ 20,86,375
19 ₹ 2,24,136 ₹ 1,78,678 ₹ 18,62,239
20 ₹ 2,45,161 ₹ 1,57,652 ₹ 16,17,077
21 ₹ 2,68,159 ₹ 1,34,654 ₹ 13,48,917
22 ₹ 2,93,315 ₹ 1,09,499 ₹ 10,55,602
23 ₹ 3,20,830 ₹ 81,984 ₹ 7,34,772
24 ₹ 3,50,926 ₹ 51,888 ₹ 3,83,845
25 ₹ 3,84,095 ₹ 18,969 ₹ 0

## The Lowest EMI Provided by PNB Housing Finance on Home Loans

PNB Housing Finance provides home loans with interest rates ranging from 8.40% to 10.5%, depending on the borrower's income and credit profile.

Below, you’ll see the minimum and maximum monthly EMIs for different home loan amounts, calculated at annual interest rates of 8.40% and 10.5% over a 25-year period:

Interest Rate of 8.40%

Interest Rate of 10.5%

10 lakh loan amount - ₹7,985 p.m.

10 lakh loan amount -  ₹9,442 p.m.

12 lakh loan amount - ₹9,582 p.m.

12 lakh loan amount -  ₹11,330 p.m.

15 lakh loan amount - ₹11,977 p.m.

15 lakh loan amount -  ₹14,163 p.m.

17 lakh loan amount - ₹13,574 p.m.

17 lakh loan amount - ₹16,051 p.m.

20 lakh loan amount - ₹15,970 p.m.

20 lakh loan amount -  ₹18,884 p.m.

## Why Should You Use the PNB Housing Finance Home Loan Calculator?

Below are the benefits of utilizing the PNB Housing Finance home loan EMI calculator:

• Accurate EMI Calculation: The calculator provides an instant and accurate estimate of your monthly EMI based on the loan amount, interest rate, and tenure you input. This helps you understand your monthly repayment obligation.
• Compare Different Scenarios: You can easily compare EMIs for different loan amounts, interest rates, and tenures by adjusting the inputs. This helps you find the most suitable loan option for your needs.
• Time-Saving: It eliminates the need for complex manual calculations, saving you time and effort in estimating your loan repayments.
• Informed Decision-Making: With a clear picture of the EMIs and total costs, you can make a more informed decision about taking a home loan.
• Amortization Details: Many calculators, like the one offered by PNB Housing Finance, also provide an amortization schedule, showing how the principal and interest components of your EMI change over time.

## Eligibility Criteria for PNB Housing Finance Home Loan

For Salaried, Self-employed Professionals, and Self-employed Non-Professionals:

• Age Requirement : 21-70 years
• Nationality : Indian Resident, NRI, PIO
• Minimum Work Experience : 3 years
• Credit Score Requirement : 611 or above

## Factors Determining PNB Housing Finance Home Loan EMIs

• Applicant's Age: Age affects the maximum loan tenure available, which in turn impacts the EMI. For example, applicants aged 45 years can get a maximum tenure of 25 years, while those 50 and above may have shorter tenures at the company's discretion.
• Income: The applicant's net monthly income is a crucial factor in determining loan eligibility and, consequently, the EMI amount.
• Credit Score: A credit score of 611+ is typically required. A higher credit score may lead to better interest rates, affecting the EMI.
• Occupation and Employment Stability: PNB Housing considers the applicant's occupation and requires a minimum of 3 years of work experience.
• Existing Financial Obligations: Any existing loans or EMIs are taken into account when calculating the new home loan EMI.
• Property Value: The value of the property being purchased or mortgaged can influence the loan amount and, consequently, the EMI.

## PNB Housing Loan Fees and Charges

Here are the main charges and fees associated with home loans offered by PNB Housing Finance:

Fee Type

Details

Processing fees

0.5% of the loan amount subject to a min. of ₹10,000

Part or Full Prepayment Charges

• Floating Rate for Individual Borrower : No charges.
• Floating Rate for Non-Individual Borrower (Applicant or Co-Applicant) : 2% of the principal prepaid.
• Fixed Rate for Individual Borrower : 3% of the principal prepaid; if prepayment is from own sources, no fee is applicable.
• Fixed Rate for Non-Individual Borrower (Applicant or Co-Applicant) : 3% of the principal prepaid.

Cheque/NACH Mandate Form return

₹500

CERSAI Fees

For loans disbursed after January 31, 2016: ₹100

For loans disbursed prior to January 31, 2016: ₹500

Conversion of Rate of Interest

Floating to Floating Rate of Interest: 0.50% of principal outstanding

Fixed to Floating Rate of Interest: 2% of principal outstanding

Overdue Charge

2% per month on overdue payment

Legal/Recovery/Title Search Fees

As per actuals

## Limitations of Using PNB Housing Finance Home Loan EMI Calculator

We have listed a few limitations related to using of PNB Housing Finance home loan EMI calculator:

• The calculator provides approximate EMI amounts, not exact figures.
• It excludes additional costs like processing fees, insurance, and other charges.
• This does not consider the impact of loan prepayments or part payments.
• The calculator doesn’t accommodate specific terms and conditions of your loan agreement.
• It does not evaluate borrower eligibility or creditworthiness.
• The home loan calculator cannot replace personalized advice from a financial advisor or loan officer.