PNB Housing Finance (PNBHFL) Home Loan

Highlights

  • Check PNBHFL eligibility and interest rates ranging from 7.50% - 9.20%

  • Apply online for PNB housing finance home loan and get instant approval

Interest Cashback has been announced for borrowers who opted for Moratorium on Loans/Credit Card Payments as well as those who did not. It is applicable for the period of March 1 to August 31, 2020. The difference between the Compound Interest and Simple Interest for the said period based on the outstanding balance as on February 29, 2020, will be credited to your account (ex-gratia) as a cashback. Please note that this is NOT an INTEREST WAIVER.

About PNB Housing Finance Limited (PNBHFL)

PNB Housing Finance Limited (PNBHFL) offers low-interest rate and a flexible tenure option on home loans. The housing finance company uses a customer-friendly approach and makes it easy for the borrowers to repay the loan. To check housing loan interest rates November 2020 and more about the product, read the details on this page.

  • Competitive PNB Housing Finance rates
  • Maximum loan amount option
  • Minimum income criteria
  • PMAY scheme
  • Faster processing of loans for Self Employed and Self Employed Professionals
  • Various Surrogate Programmes available to meet the requirement of customers

Home Loan

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    PNB Housing Finance Home Loan Interest Rate November 2020

    ParticularsDetails
    PNBHFL Interest Rate7.50% - 9.20%
    Loan Amount 75%-90% of the market value
    TenureUp to 30 years
    Processing FeesINR 10,000 plus GST

    PNB Housing Finance Retail Home Loan Interest Rates

    Credit Score (Irrespective of Loan Amounts)Normal Home Loans“UNNATI” Home Loans
    Salaried/Self-employed ProfessionalsSelf-employedSalaried/Self-employed ProfessionalsSelf-employed
    Home Loans/NRPL under Unnati Program
    Less Than Zero8.80%-9.00%9.00%-9.20%10.75%12.00%
    Upto 6508.80%-9.00%9.00%-9.20%
    >650 to <7008.55%-8.80%8.70%-8.95%
    >700 to <7508.30%-8.55%8.55%-8.80%
    >750 to <8007.99%-8.25%8.40%-8.65%
    >=8007.50%-7.90%7.60%-7.95%
    • Cases approved under special program will be charged higher rates above the existing grid (except Unnati cases) as follows: Banking (+0.25%), LIP (+0.50%) and Rental Income Program (+0.50%).
    • Plot Purchase (not classified as Plot Purchase + Construction) will be charged 1% higher rates above the existing “Home Loan” grid.
    • Home Improvement Loan up to 25% of the IHL sanction amount will be priced at “Home Loan” card rates.
    • Stand-alone Home improvement loans up to INR 25 Lakh will be at “Home Loan” card rates.
    • Home Extension (HEL) will be at Home Loan Rates of interest.
    • Top-up Loans will be priced as per the card rates of “Non-Home Loan”.

    Good News! PNBHFL Starts Sanctioning Home Loans Online

    The ongoing lockdown, which has continued for more than 2 months, has lowered business volumes for banks and financial institutions offering home loans and other lending products because of the weak demand. But as the lockdown restrictions are getting eased, lenders like PNB Housing Finance have started providing a helping hand to customers seeking a home loan. Yes, the housing finance firm has started sanctioning home loans of eligible applicants online. You need to provide personal and income details so that the lender can present you with an offer. The lender will check the eligibility and give you the loan offer once you are found eligible for the same. Once you give your acceptance to the deal, PNB Housing Finance (PNBHFL) will sanction the loan amount. The disbursal will happen after the legal and technical teams send their respective report to the lender.

    PNB Housing Finance Home Loan Eligibility Criteria

    Below is the eligibility required to apply for different types of PNB Housing Finance (PNBHFL) housing loans.

    NRI Home Loans Eligibility Criteria

    • You should be an Indian citizen or a Person of Indian Origin (PIO) holding an Indian passport with the status of NRI on deputation/ employment/ assignment.
    • You should be working for at least one year in a foreign country before seeking a house loan.
    • The condition of minimum service over one year shall not apply to people going abroad on deputation.
    • Your age should not be more than 70 years at the time of loan maturity.

    Eligibility Criteria for Unnati Home Loans

    Only the below-listed people can apply for Unnati Home Loans:

    • An individual with any Professional Degree/Diploma/Post-Graduate Degree/ITI etc.
    • An employee of local and stable business entities like Petrol Pumps, Restaurants, Jewellery shops, Garment shops, etc. The employer’s business can be a proprietorship/partnership/private limited/limited company/trust etc.
    • An individual who is earning a fixed minimum income of INR 10,000 per month. This is valid for combined income also in case there is a co-applicant.

    Your age at the time of loan maturity should not be more than 70 years if you are salaried and not more than 65 years if you are a self-employed professional/non-professional

    Eligibility Criteria for PMAY scheme

    To apply for a home loan under the PMAY scheme, applicants must meet the following-

    • Individuals only
    • Applicants should be of immediate family including self, spouse, and unmarried children only
    • Age of all applicants should be above 18 years
    • Annual combined income of all applicants: maximum of declared/assessed income should be up to INR 6 lakhs for EWS & LIG category, INR 6.01 Lakh to INR 12 Lakh for MIG1 and INR 12.01 Lakh to 18 Lakh for MIG2.
    • The beneficiary family should not own a pucca house in his/her or in the name of any member of his/her family in any part of India.
    • The beneficiary family should not have availed of central assistance under any housing scheme from Government of India or any benefit under any scheme in PMAY.
    • Renovation/extension should be used to convert Kuccha house to a Pucca house.

    Documents Required to Apply

    You need to submit the following documents by the time you apply for housing loans at PNB Housing Finance (PNBHFL)

    • Duly filled Application Form with Photographs
    • KYC Documents including Aadhar or PAN card of applicants
    • Latest Education Qualification certificates
    • Last 3 Months Salary-slips for Salaried Employees or Certificate & Proof of business existence along with Business Profile for Self Employed professionals
    • Form 16 for last 2 years (Salaried) or Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant for self-employed professionals
    • Last 6 months Bank Statements (salary account) for salaried employees or Last 12 months Bank Account Statements (self & business) for self-employed professional
    • Processing Fee Cheque in favor of ‘PNB Housing Finance Ltd.’
    • Self-declaration from the customer regarding the family income
    • Affidavit on requisite stamp paper showing your ownership of the property in case you’re going for a construction or extension loan.
    • Photocopy of Title Documents of the Property, Approved Plan

    PNB Housing Finance Home Loan Processing Fee

    The processing fee applicable on home loans is a one-time payment. This fee attracts GST as well which is presently 18%. The processing fee on a home loan at PNB Housing Finance (PNBHFL) is presently INR 10,000 plus GST.

    PNB Housing Finance Home Loan EMI Calculator

    With the help of EMI calculator, you can calculate your monthly installments on your home loan instantly. The calculator takes into account the loan amount, tenure and interest rate to compute the EMI. Since it’s monthly EMI calculation, the calculator converts the annual interest rate into the monthly interest rate before giving the results. You get the payment details of EMI, the total interest outgo, and the total repayment amount (interest+principal). Below is an example for your reference.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 20,00,0008.25%1₹ 1,74,208₹ 90,498₹ 20,90,498
    ₹ 20,00,0008.25%2₹ 90,683₹ 1,76,387₹ 21,76,387
    ₹ 20,00,0008.25%3₹ 62,904₹ 2,64,531₹ 22,64,531
    ₹ 20,00,0008.25%4₹ 49,061₹ 3,54,923₹ 23,54,923
    ₹ 20,00,0008.25%5₹ 40,793₹ 4,47,550₹ 24,47,550
    ₹ 20,00,0008.25%6₹ 35,311₹ 5,42,401₹ 25,42,401
    ₹ 20,00,0008.25%7₹ 31,422₹ 6,39,458₹ 26,39,458
    ₹ 20,00,0008.25%8₹ 28,528₹ 7,38,702₹ 27,38,702
    ₹ 20,00,0008.25%9₹ 26,297₹ 8,40,112₹ 28,40,112
    ₹ 20,00,0008.25%10₹ 24,531₹ 9,43,663₹ 29,43,663
    ₹ 20,00,0008.25%11₹ 23,101₹ 10,49,328₹ 30,49,328
    ₹ 20,00,0008.25%12₹ 21,924₹ 11,57,077₹ 31,57,077
    ₹ 20,00,0008.25%13₹ 20,942₹ 12,66,879₹ 32,66,879
    ₹ 20,00,0008.25%14₹ 20,111₹ 13,78,700₹ 33,78,700
    ₹ 20,00,0008.25%15₹ 19,403₹ 14,92,505₹ 34,92,505
    ₹ 20,00,0008.25%16₹ 18,793₹ 16,08,256₹ 36,08,256
    ₹ 20,00,0008.25%17₹ 18,264₹ 17,25,914₹ 37,25,914
    ₹ 20,00,0008.25%18₹ 17,803₹ 18,45,438₹ 38,45,438
    ₹ 20,00,0008.25%19₹ 17,398₹ 19,66,786₹ 39,66,786
    ₹ 20,00,0008.25%20₹ 17,041₹ 20,89,915₹ 40,89,915
    ₹ 20,00,0008.25%21₹ 16,725₹ 22,14,781₹ 42,14,781
    ₹ 20,00,0008.25%22₹ 16,444₹ 23,41,339₹ 43,41,339
    ₹ 20,00,0008.25%23₹ 16,194₹ 24,69,542₹ 44,69,542
    ₹ 20,00,0008.25%24₹ 15,970₹ 25,99,345₹ 45,99,345
    ₹ 20,00,0008.25%25₹ 15,769₹ 27,30,701₹ 47,30,701
    ₹ 20,00,0008.25%26₹ 15,588₹ 28,63,562₹ 48,63,562
    ₹ 20,00,0008.25%27₹ 15,426₹ 29,97,882₹ 49,97,882
    ₹ 20,00,0008.25%28₹ 15,279₹ 31,33,613₹ 51,33,613
    ₹ 20,00,0008.25%29₹ 15,146₹ 32,70,708₹ 52,70,708
    ₹ 20,00,0008.25%30₹ 15,025₹ 34,09,120₹ 54,09,120

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

    YearPrincipalInterestBalance Amount
    1₹ 15,896₹ 1,64,408₹ 19,84,103
    2₹ 17,258₹ 1,63,046₹ 19,66,845
    3₹ 18,737₹ 1,61,567₹ 19,48,108
    4₹ 20,342₹ 1,59,961₹ 19,27,765
    5₹ 22,086₹ 1,58,218₹ 19,05,679
    6₹ 23,978₹ 1,56,325₹ 18,81,700
    7₹ 26,033₹ 1,54,271₹ 18,55,667
    8₹ 28,264₹ 1,52,040₹ 18,27,402
    9₹ 30,686₹ 1,49,618₹ 17,96,716
    10₹ 33,315₹ 1,46,988₹ 17,63,400
    11₹ 36,170₹ 1,44,133₹ 17,27,229
    12₹ 39,270₹ 1,41,034₹ 16,87,959
    13₹ 42,635₹ 1,37,668₹ 16,45,323
    14₹ 46,289₹ 1,34,015₹ 15,99,034
    15₹ 50,255₹ 1,30,048₹ 15,48,779
    16₹ 54,562₹ 1,25,742₹ 14,94,216
    17₹ 59,237₹ 1,21,066₹ 14,34,979
    18₹ 64,314₹ 1,15,990₹ 13,70,665
    19₹ 69,825₹ 1,10,479₹ 13,00,839
    20₹ 75,808₹ 1,04,495₹ 12,25,031
    21₹ 82,304₹ 97,999₹ 11,42,726
    22₹ 89,357₹ 90,946₹ 10,53,368
    23₹ 97,014₹ 83,289₹ 9,56,353
    24₹ 1,05,328₹ 74,976₹ 8,51,025
    25₹ 1,14,354₹ 65,950₹ 7,36,671
    26₹ 1,24,153₹ 56,150₹ 6,12,517
    27₹ 1,34,792₹ 45,512₹ 4,77,725
    28₹ 1,46,343₹ 33,961₹ 3,31,382
    29₹ 1,58,883₹ 21,420₹ 1,72,498
    30₹ 1,72,601₹ 7805₹ 0

    How to apply for PNB Housing Finance Home Loan Online?

    You can apply for the loan at Wishfin, an online portal where you can compare different home loan offers and choose the best one for you. Wishfin experts help you in getting the lowest possible rate. So, apply online at Wishfin to get hassle-free home loans.

    PNB Housing Finance Repayment Options

    Step Up EMI – This type of repayment takes into account an assumption regarding the expected growth in your income. So, you can get a higher loan amount and pay lower EMIs in the initial years. Afterward, the EMI increases in proportion with the assumed rise in your income.

    Tranche EMI – In the case of buying an under-construction property, one normally has to service the interest on the loan amount drawn till the final loan disbursement and pay EMIs afterward. However, if you want to pay the principal immediately, you can use the tranche-based EMI system wherein you need to pay EMIs on the cumulative loan amount.

    PNB Housing Finance Home Loan Schemes

    PNBHFL offers home loans under the following schemes:

    • Home Purchase Loan-Your age should not be more than 70 years at the time of loan maturity.
    • Home Construction Loan
    • Home Extension Loan
    • Home Improvement Loan
    • Residential Plot Loan
    • Loan for NRIs
    • Unnati Home Loans
    • Pradhan Mantri Awas Yojana

    Home Improvement Loan

    You can take the home improvement loan from PNB Housing Finance (PNBHFL) for the following purposes:

    • Complete renovation of already owned residential property
    • Upgradation
    • Repairs of your house/flat
    • External & internal repairs/paint
    • Waterproofing & roofing
    • Tiling and flooring
    • Plumbing & electrical work
    • False ceiling & woodwork (fixed to the building)

    Features of Unnati Home Loans

    • Maximum loan amount of up to INR 25 lakh, subject to 90% of the market value of the property
    • Attractive rates of interest
    • Option of fixed rate for 3, 5 and 10 years to protect you from the market fluctuations
    • Robust service delivery model – door step services ensure fast approval & disbursal of loans
    • PAN India branch network

    Pradhan Mantri Awas Yojana (PMAY) – Credit Linked Subsidy Scheme (CLSS)

    PMAY-CLSS scheme comes with the following features –

    • Interest subsidy benefit is calculated for 20 years
    • Benefits available for the first property purchase
    • Applicants should be of immediate family including self, spouse, and unmarried children only
    • Women Ownership is mandatory under EWS & LIG category for purchase of a new house

    PNB Housing Finance Login

    Customers can login and check the status of their loan application. For this, you will require an application ID that you’ll get after the successful completion of the application process.

    PNB Housing Finance Application Status

    When you apply for a home loan at Wishfin, you get personalized assistance which helps you in every step related to your loan. So, if you want to know the application status of your home loan, you can contact the respective executive.

    PNB Housing Finance Customer Care Number

    Customers can reach the housing finance company for any product related query. You can contact PNB Housing Finance (PNBHFL) at their official address or contact them on 1800 120 8800.

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