Punjab National Bank (PNB) provides multiple purpose home loans which consists of PNB Pride Housing Loan For Government Employees, Housing Loan for Public, Housing Loan for Public – Pradhan Mantri Awas Yojana – Housing for All, PNB Gen-Next Housing Finance Scheme For Public and Private Builder`s Approved Project on PAN India Basis. We can help you in picking from the list by showing the details of each offer. Are you ready to take the plunge of PNB home loan? Read the information below.
PNB Home Loan Interest Rates November 2023
| Particulars | Details |
|---|---|
| Interest Rate | 8.60% - 9.95% |
| Loan Amount | 75%-80% of the property cost |
| Loan Tenure | Up to 30 years |
| Processing Fee | 0.50% of the loan amount, subject to a maximum of INR 50,000 |
| Prepayment Charges | NIL |
PNB Home Loan EMI Calculator
As home loan may continue for as long as 20-30 years, you have to be aware of the monthly installments in advance. For that, you can use EMI calculator to calculate your home loan EMI, interest payment, and the overall outgo from your pocket over the loan term. Here is an example for your reference.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 20,00,000 | 8.60% | 1 | ₹ 1,74,532 | ₹ 94,386 | ₹ 20,94,386 |
| ₹ 20,00,000 | 8.60% | 2 | ₹ 91,003 | ₹ 1,84,069 | ₹ 21,84,069 |
| ₹ 20,00,000 | 8.60% | 3 | ₹ 63,228 | ₹ 2,76,200 | ₹ 22,76,200 |
| ₹ 20,00,000 | 8.60% | 4 | ₹ 49,391 | ₹ 3,70,772 | ₹ 23,70,772 |
| ₹ 20,00,000 | 8.60% | 5 | ₹ 41,130 | ₹ 4,67,771 | ₹ 24,67,771 |
| ₹ 20,00,000 | 8.60% | 6 | ₹ 35,655 | ₹ 5,67,182 | ₹ 25,67,182 |
| ₹ 20,00,000 | 8.60% | 7 | ₹ 31,774 | ₹ 6,68,986 | ₹ 26,68,986 |
| ₹ 20,00,000 | 8.60% | 8 | ₹ 28,887 | ₹ 7,73,159 | ₹ 27,73,159 |
| ₹ 20,00,000 | 8.60% | 9 | ₹ 26,664 | ₹ 8,79,676 | ₹ 28,79,676 |
| ₹ 20,00,000 | 8.60% | 10 | ₹ 24,904 | ₹ 9,88,508 | ₹ 29,88,508 |
| ₹ 20,00,000 | 8.60% | 11 | ₹ 23,482 | ₹ 10,99,623 | ₹ 30,99,623 |
| ₹ 20,00,000 | 8.60% | 12 | ₹ 22,312 | ₹ 12,12,988 | ₹ 32,12,988 |
| ₹ 20,00,000 | 8.60% | 13 | ₹ 21,337 | ₹ 13,28,565 | ₹ 33,28,565 |
| ₹ 20,00,000 | 8.60% | 14 | ₹ 20,514 | ₹ 14,46,315 | ₹ 34,46,315 |
| ₹ 20,00,000 | 8.60% | 15 | ₹ 19,812 | ₹ 15,66,196 | ₹ 35,66,196 |
| ₹ 20,00,000 | 8.60% | 16 | ₹ 19,209 | ₹ 16,88,165 | ₹ 36,88,165 |
| ₹ 20,00,000 | 8.60% | 17 | ₹ 18,687 | ₹ 18,12,175 | ₹ 38,12,175 |
| ₹ 20,00,000 | 8.60% | 18 | ₹ 18,232 | ₹ 19,38,181 | ₹ 39,38,181 |
| ₹ 20,00,000 | 8.60% | 19 | ₹ 17,834 | ₹ 20,66,133 | ₹ 40,66,133 |
| ₹ 20,00,000 | 8.60% | 20 | ₹ 17,483 | ₹ 21,95,981 | ₹ 41,95,981 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 39,325 | ₹ 1,70,474 | ₹ 19,60,674 |
| 2 | ₹ 42,843 | ₹ 1,66,955 | ₹ 19,17,831 |
| 3 | ₹ 46,676 | ₹ 1,63,122 | ₹ 18,71,154 |
| 4 | ₹ 50,853 | ₹ 1,58,946 | ₹ 18,20,301 |
| 5 | ₹ 55,403 | ₹ 1,54,396 | ₹ 17,64,897 |
| 6 | ₹ 60,360 | ₹ 1,49,439 | ₹ 17,04,537 |
| 7 | ₹ 65,760 | ₹ 1,44,038 | ₹ 16,38,776 |
| 8 | ₹ 71,644 | ₹ 1,38,155 | ₹ 15,67,132 |
| 9 | ₹ 78,054 | ₹ 1,31,744 | ₹ 14,89,077 |
| 10 | ₹ 85,038 | ₹ 1,24,761 | ₹ 14,04,038 |
| 11 | ₹ 92,647 | ₹ 1,17,152 | ₹ 13,11,391 |
| 12 | ₹ 1,00,936 | ₹ 1,08,863 | ₹ 12,10,455 |
| 13 | ₹ 1,09,967 | ₹ 99,832 | ₹ 11,00,488 |
| 14 | ₹ 1,19,806 | ₹ 89,993 | ₹ 9,80,681 |
| 15 | ₹ 1,30,525 | ₹ 79,273 | ₹ 8,50,156 |
| 16 | ₹ 1,42,204 | ₹ 67,595 | ₹ 7,07,951 |
| 17 | ₹ 1,54,927 | ₹ 54,872 | ₹ 5,53,024 |
| 18 | ₹ 1,68,789 | ₹ 41,010 | ₹ 3,84,235 |
| 19 | ₹ 1,83,891 | ₹ 25,908 | ₹ 2,00,344 |
| 20 | ₹ 2,00,468 | ₹ 9455 | ₹ 0 |
PNB Home Loan Schemes
Below are the details of all the schemes offered by PNB for housing loans.
PNB Pride Housing Loan For Government Employees
The scheme ensures a home for government employees through attractive loan offers. These employees can take a home loan to serve the following purposes-
- Purchase of house or flat
- Construction of house or flat
- Buying under construction flats or homes from property development authority/housing board/approved private builder projects/cooperative societies
- Add extra rooms to the flat or house
- Repair, renovate, or change the structure of the home
- Buying plot or land to construct a house
| Particulars | Details |
|---|---|
| Eligibility | Permanent Employees of Central or State Governments, Defence Personnel |
| Maximum Loan Amount | ₹1 Crore for State Capitals and Metro, ₹50 Lacs for Other Centres, ₹25 Lacs for Repairs/Alterations/Renovation |
| Maximum Loan Tenure | 30 Years, 15 Years for Home Renovation/Repairs/Alterations |
| Repayment Holiday | Time to complete repairs, renovation or alterations, or 6
months from the disbursement of first loan EMI, whichever comes
earlier In case of purchase of ready-to-move house/flat/land/plot-the date of possession or 3 months from the loan EMI, whichever comes earlier |
| Margin Money (To be Paid by a Borrower) | On Loan Upto ₹75 Lacs-20% On Loan More than Rs. 75 Lacs-25% On Buying Plot or Land to Build House-25% |
| Processing Fee | NIL |
| Documentation Charges | NIL |
| Security | Equitable or Registered Mortgage of the Property |
PNB Housing Loan for Public
This scheme is envisaged to provide homes to a general public via a home loan at attractive interest rates. The loan can be availed to serve several purposes such as-
- Construction of Flat or house
- Purchase of house or flat
- Purchase of under-construction flat or house from either property development authorities, housing boards, approved private builders or co-operative societies
- Making additions to the flat or house
- Repairing, renovating or making changes in the look of the house or flat
- Furnishing the flat or house
| Particulars | Details |
|---|---|
| Eligibility | Individuals or Joint Owners |
| Maximum Loan Amount | ₹1 Crore for State Capitals and Metro, ₹50 Lacs for Other Centres, ₹25 Lakhs for Repairs/Alterations/Renovation |
| Maximum Loan Tenure | 30 Years, 15 Years for Home Renovation/Repairs/Alterations |
| Repayment Holiday | Time to complete repairs, renovation or alterations, or 6
months from the disbursement of first loan EMI, whichever comes
earlier In case of purchase of ready-to-move house/flat/land/plot-The date of possession or 3 months from the loan EMI, whichever comes earlier |
| Margin Money (To be Paid by a Borrower) | On Loan Upto ₹75 Lacs-20% On Loan More than Rs. 75 Lacs-25% On Buying Plot or Land to Build House-25% |
| Processing Fee | Upto ₹3 Cr-0.50% of loan amount, subject to a maximum of ₹20,000. Above Rs. 3 Cr-Rs 50,000 |
| Documentation Charges | ₹1,350 |
| Security | Equitable or Registered Mortgage of the Property |
Housing Loan for Public–Pradhan Mantri Awas Yojana–Housing for All
Specially targeted towards the economically weaker sections of the society, the loan scheme ensures these people get a home to stay. These lower income group sections can avail this loan to undertake activities like-
- Purchase of house or flat
- Construction of house or flat
- Addition of rooms as well as expand the size of kitchen and other interiors of the house
| Particulars | Details |
|---|---|
| Eligibility | Economic weaker section households. Households whose annual income grosses upto Rs 3 lacs come under the category of economically weaker section. |
| Maximum Loan Amount | ₹30 Lakhs, subject to Loan to Value (LTV) ratio & repayment capacity of the individual |
| Maximum Loan Tenure | 30 Years, 15 Years for Home Renovation/Repairs/Alterations |
| Repayment Holiday | Time to complete repairs, renovation or alterations, or 6
months from the disbursement of first loan EMI, whichever comes
earlier. In case of construction or addition-Time taken to complete construction/addition or 18 months from the disbursement of first loan EMI, whichever comes earlier. In case of purchase of ready-to-move house/flat/land/plot-the date of possession or 3 months from the loan EMI, whichever comes earlier. |
| Margin Money (To be Paid by a Borrower) | On Loan Upto ₹20 Lakhs-10% On Loan Above Rs. 20 Lacs-30 Lacs-20% |
| Processing Fee | NIL |
| Documentation Charges | NIL |
| Security | Equitable or Registered Mortgage of the Property |
PNB Gen-Next Housing Finance Scheme For Public
Gen-Next salaried professionals from sectors like IT & banking, along with government employees with a minimum work experience of 3 years have a reason to smile with the offering of PNB Gen-Next Housing Finance Scheme that embarks on providing these particular group of people a dream home via a custom loan product. Want to know what these gentlemen can do with this loan offer? Read out the points below.
- It can be availed to purchase a ready-to-move flat or house
- Construct flat or house
- Purchase under-construction flat or house of approved private builders
| Particulars | Details |
|---|---|
| Eligibility | Age - Borrowers with age upto 40 years are eligible for
the loan. In case of joint borrowers, one must be upto 40 years while the
other one's age must not be over 45 years. Income - Minimum net monthly salary should be ₹35,000 |
| Minimum Loan Amount | ₹20 Lacs |
| Maximum Loan Amount | Based upon the requirements |
| Maximum Loan Tenure | 30 Years |
| Repayment Holiday | 3-5 years in case of under construction flat of approved
builder Other cases- Max. Period-3 Years However, interest will apply However, interest is to be serviced as and when levied during the holiday period. |
| Margin Money (To be Paid by a Borrower) | Loan upto ₹75 Lacs-20% Loan above ₹75 Lacs-25% |
| Processing Fee | Upto ₹3 Cr-0.50% of loan amount, subject to a maximum of ₹20,000. Above ₹3 Cr-₹50,000 |
| Documentation Charges | ₹1,350 |
| Security | Equitable or Registered Mortgage of the Property |
PNB Home Construction Loan
- It offers customised home construction loan to meet the requirements of the customers
- Maximum and higher loan eligibility
- Fast process and quick disbursal of the loan amount
- Option to increase in loan amount in the event of escalations in cost
- various repayment options to choose from
PNB Housing Plot Purchase loan
- You can apply for individual or joint loan for plot purchase
- The maximum loan is 90% of the market value of the property or above INR 75 lakhs
- Your age should not be more than 70 years at the time of maturity of the loan
- Loan is available for purchase of plot, purchasing for resale plot
- You can also borrow the loan for transferring any existing loan from any other bank or NBFCs
- Loan is available for minimum tenure of 3 years and for maximum tenure of 30 years
- Fastest approval and disbursal of loans
- Excellent post disbursement service
- Simple documentation
- Option to increase loan amount in the event of escalations in cost
Maximum loan amount
| Loan amount | Maximum Funding |
|---|---|
| Up to ₹20 lakhs | 90% of the market value |
| ₹20 lakhs and above, up to ₹75 lakhs | 80% of the market value |
| Above ₹75 lakhs | 75% of the market value |
Documents required for home construction loan
| Salaried Employees | Self-employed/Professionals |
|---|---|
| Duly filled Application Form with Photograph | Duly filled Application Form with Photograph |
| Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) | Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) |
| Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) | Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) |
| Education Qualifications – Latest Degree | Education Qualifications – Latest Degree (for professionals) |
| Latest Salary-slips for 3 months | Certificate & Proof of business existence along with Business Profile |
| Form 16 for last 2 years | Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant |
| Last 6 months Bank Statements(salary account) | Last 12 months Bank Account Statements (self & business) |
| Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’ | Processing Fee Cheque in favour of ‘PNB Housing Finance Ltd.’ |
| Photocopy of Title Documents of the Property, Approved
Plan | Photocopy of Title Documents of the Property, Approved
Plan, etc. |
PNB Home Improvement loan
Benefits of taking PNB Home Improvement Loan
- It offers an extensive range of home products such as home purchase loans, home construction loans, home extension loans, home improvement loans and plot loans.
- Facility to avail the loan across India
- Fast and easy approval and disbursal of loans
- Best post disbursement services
- Facility of loan amount enhancement in the event of escalations in cost
- Opportunity to choose from various repayment options
What are the documents required to apply for PNB Home Loans?
The list of documents that you must have to apply for the loan is as follows:
| Proofs | Salaried | Self -employed/Professionals |
|---|---|---|
| Age Proof | Passport/PAN Card or Any Other Certificate from Statutory Authority | Passport, PAN Card or Any Other Certificate from Statutory Authority |
| Identity Proof | PAN Card/Passport/Voter ID/Driving License | PAN Card/Passport/Voter ID/Driving License |
| Residence Proof | Passport/Driving License/Voter ID/Ration Card/Telephone Bill | Passport/Driving License/Voter ID/Ration Card/Telephone Bill |
| Income Proof | Salary Slips for Past 3 Months Form 16 for Past 2 Years Last 6-month Bank Statement | ITR for Last 3 Years CA-certified Profit & Loss Account and Balance Sheet of Last 3 Years 1-year Bank Statement (Both Self & Business) |
| Processing Fee Cheque | Applicable | Applicable |
| Property Documents | Photocopy of Property Title Document | Photocopy of Property Title Document |
PNB Home Loan Application Form
Now when you are aware of the cash outflow related to PNB home loan, let’s get on with the process of application. You can fill a home loan application form online by submitting the details of identity, residence, income and others. Also, you can visit the branch and request for the form, which you have to fill and submit it along with necessary documents to the concerned official to process your application.
Subsequent to ascertaining the authenticity of details by sending the executive to your residence and office, the bank approves the loan application. Post-approval, the executive will come to see the property you wish to buy. The executive will make a legal & technical report with regards to the property. After looking at the report, the bank will set a particular valuation amount. Around 75%-80% of the amount can be sanctioned as a home loan to you.
How can you check PNB Housing Loan Status?
You can check the application status of your loan by simply visiting the official website of the bank. You can also visit the nearest bank branch to check how much time it will take to get the disbursal amount in your account.