# Punjab National Bank (PNB) 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

### Highlights

• EMIs on your fingetips courtesy calculator
• Type loan amount, ROI and tenure to compute your repayment future

Planning a home loan from Punjab National Bank (PNB) as its rates have softened? But don’t know what’s the EMI likely to be? Start using the Punjab National Bank Home Loan EMI Calculator, which is available online and best suited for the purpose. Let’s read more about the calculator below.

## What is EMI?

An equated monthly installment (EMI) forms a component of both interest and principal repayments towards a home loan. The EMI is calculated using loan amount, interest rate, and tenure. So, you can easily enter these three variables in the calculator. Just do that and ascertain the EMI applicable.

## How to Use Wishfin Punjab National Bank Home Loan EMI Calculator?

The Wishfin Home Loan EMI Calculator makes it easy to determine your EMI payments before you apply for a home loan. Enter the loan amount, interest rate, and duration, and it will instantly show your monthly EMI, total interest, and total repayment amount.

You can use sliders to adjust these values to suit your needs. Additionally, an amortization table is included to illustrate how payments are spread out over the loan term.

EMI Calculation Formula

Ever imagined as to how the calculator performs its operations? Well, it does its job using the below formula.

E = P . R . (1+R)^N/((1+R)^N – 1)

E = EMI (Equated Monthly Installment)

P = Principal Loan Amount

R = Monthly Interest Rate

N = Monthly Loan Tenure

For example, you take out a home loan of ₹45,00,000 from Punjab National Bank at an 8.95% annual interest rate for 20 years.

Here's how the monthly EMI is calculated:

• Principal Amount (P): ₹45,00,000

• Monthly Interest Rate (R): 8.95% yearly or 0.00745 per month (8.95/12/100)

• Loan Tenure (n): 20 years or 240 months

[45,00,000 x 0.00745 x (1 + 0.00745) ^ 240]/[(1+0.00745 ^240 -1] = 40,343

This calculation results in a monthly EMI of ₹40,343

## PNB Home Loan Amortisation Schedule

Shekhar Patel, a 32-year-old engineer, applied for a home loan of INR 40 lakhs at PNB. The bank offered him a loan for 20 years at an 8.45% interest rate. In that case, what’s the EMI and interest likely to stack up? Find that in the table below.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 40,00,000 8.45% 1 ₹ 3,48,787 ₹ 1,85,438 ₹ 41,85,438
₹ 40,00,000 8.45% 2 ₹ 1,81,731 ₹ 3,61,549 ₹ 43,61,549
₹ 40,00,000 8.45% 3 ₹ 1,26,177 ₹ 5,42,390 ₹ 45,42,390
₹ 40,00,000 8.45% 4 ₹ 98,499 ₹ 7,27,943 ₹ 47,27,943
₹ 40,00,000 8.45% 5 ₹ 81,970 ₹ 9,18,186 ₹ 49,18,186
₹ 40,00,000 8.45% 6 ₹ 71,015 ₹ 11,13,089 ₹ 51,13,089
₹ 40,00,000 8.45% 7 ₹ 63,245 ₹ 13,12,615 ₹ 53,12,615
₹ 40,00,000 8.45% 8 ₹ 57,466 ₹ 15,16,723 ₹ 55,16,723
₹ 40,00,000 8.45% 9 ₹ 53,013 ₹ 17,25,364 ₹ 57,25,364
₹ 40,00,000 8.45% 10 ₹ 49,487 ₹ 19,38,485 ₹ 59,38,485
₹ 40,00,000 8.45% 11 ₹ 46,637 ₹ 21,56,026 ₹ 61,56,026
₹ 40,00,000 8.45% 12 ₹ 44,291 ₹ 23,77,924 ₹ 63,77,924
₹ 40,00,000 8.45% 13 ₹ 42,334 ₹ 26,04,108 ₹ 66,04,108
₹ 40,00,000 8.45% 14 ₹ 40,682 ₹ 28,34,506 ₹ 68,34,506
₹ 40,00,000 8.45% 15 ₹ 39,272 ₹ 30,69,038 ₹ 70,69,038
₹ 40,00,000 8.45% 16 ₹ 38,061 ₹ 33,07,624 ₹ 73,07,624
₹ 40,00,000 8.45% 17 ₹ 37,011 ₹ 35,50,178 ₹ 75,50,178
₹ 40,00,000 8.45% 18 ₹ 36,095 ₹ 37,96,611 ₹ 77,96,611
₹ 40,00,000 8.45% 19 ₹ 35,293 ₹ 40,46,833 ₹ 80,46,833
₹ 40,00,000 8.45% 20 ₹ 34,586 ₹ 43,00,748 ₹ 83,00,748

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

Year Principal Interest Balance Amount
1 ₹ 80,092 ₹ 3,34,945 ₹ 39,19,907
2 ₹ 87,128 ₹ 3,27,909 ₹ 38,32,779
3 ₹ 94,782 ₹ 3,20,255 ₹ 37,37,996
4 ₹ 1,03,109 ₹ 3,11,928 ₹ 36,34,887
5 ₹ 1,12,167 ₹ 3,02,870 ₹ 35,22,720
6 ₹ 1,22,021 ₹ 2,93,016 ₹ 34,00,698
7 ₹ 1,32,741 ₹ 2,82,296 ₹ 32,67,957
8 ₹ 1,44,402 ₹ 2,70,635 ₹ 31,23,554
9 ₹ 1,57,088 ₹ 2,57,949 ₹ 29,66,466
10 ₹ 1,70,888 ₹ 2,44,149 ₹ 27,95,577
11 ₹ 1,85,901 ₹ 2,29,136 ₹ 26,09,676
12 ₹ 2,02,233 ₹ 2,12,804 ₹ 24,07,443
13 ₹ 2,19,999 ₹ 1,95,038 ₹ 21,87,443
14 ₹ 2,39,326 ₹ 1,75,711 ₹ 19,48,117
15 ₹ 2,60,351 ₹ 1,54,686 ₹ 16,87,766
16 ₹ 2,83,223 ₹ 1,31,814 ₹ 14,04,542
17 ₹ 3,08,104 ₹ 1,06,933 ₹ 10,96,437
18 ₹ 3,35,172 ₹ 79,865 ₹ 7,61,265
19 ₹ 3,64,617 ₹ 50,420 ₹ 3,96,648
20 ₹ 3,96,890 ₹ 18,388 ₹ 0

## The Lowest EMI Offered by Punjab National Bank on Home Loans

Here are the monthly EMI payments for various home loan amounts from Punjab National Bank. These calculations are based on interest rates of 8.8% and 11.25% for a term of 20 years:

Interest Rate of 8.80%

Interest Rate of 11.25%

10 lakh loan amount - ₹8,869 p.m.

10 lakh loan amount -  ₹10,493 p.m.

12 lakh loan amount - ₹10,643 p.m.

12 lakh loan amount -  ₹12,591 p.m.

15 lakh loan amount - ₹13,304 p.m.

15 lakh loan amount -  ₹15,739 p.m.

17 lakh loan amount - ₹15,077 p.m.

17 lakh loan amount - ₹17,837 p.m.

20 lakh loan amount - ₹17,738 p.m.

20 lakh loan amount -  ₹20,985 p.m.

## What are the Main Advantages of Using the PNB Home Loan EMI Calculator?

Here are the main advantages of using the PNB Home Loan EMI Calculator:

• Accurate and instant calculations: The PNB Home Loan EMI Calculator provides accurate results instantly, eliminating the risk of manual calculation errors. This gives borrowers a transparent view of their EMI obligations.
• Facilitates effective financial planning: By providing a clear estimate of the monthly EMI amount, the calculator helps borrowers plan their finances effectively. They can assess their repayment capacity and align it with their budget.
• Comparison of loans: Borrowers can use the EMI calculator to compare different loan options by putting in different variables like the interest rate, loan amount and tenure. This allows the evaluation of various scenarios to choose the most suitable option.
• Saves time and provides convenience: The calculator automates complex calculations, saving time and effort compared to manual methods. Results are generated in less than a minute after entering a few key details.
• Aids in negotiation: Armed with EMI calculations for different scenarios, borrowers can negotiate better terms with the lender and settle on an interest rate and tenure that suits them.

## Punjab National Bank Home Loan Eligibility

For Salaried Applicants

• Age: All salaried applicants must be at least 21 years old when the loan begins. Also, you should not be older than 70 years at the loan's maturity.
• Residency: Applicants must be permanent residents of India.
• Work Experience: You need at least 3 years of work experience.
• Salary: You must earn a minimum monthly salary of INR 15,000.

For Self-Employed Applicants

• Age: Applicants must be 21 years or older at the time of applying for a home loan and under 70 years at the loan's maturity.
• Residency: Applicants must be permanent residents of India.
• Work Experience: They should have a minimum of 3 years of continuous business experience.

## Key Factors That Affect PNB Home Loan EMI

• Credit Score: Your creditworthiness can influence the interest rate for which you qualify. A higher credit score may help secure a lower interest rate, thus reducing the EMI.
• Income: Your income level can also impact the loan amount you are eligible for and, consequently, the EMI. Higher income may also help negotiate better terms with the bank.
• Interest Rate : The rate of interest charged by PNB on your home loan significantly affects your EMI. Lower interest rates lead to lower EMIs.
• Loan Tenure : The duration over which you repay the loan also affects your EMI. Longer loan terms result in lower EMIs but increase the total interest paid over the life of the loan.
• Type of Interest Rate : Whether the interest rate is fixed or floating can affect the EMI. Fixed rates remain the same throughout the loan tenure, making EMIs consistent. Floating rates can fluctuate with market conditions, affecting EMI amounts.

## PNB Home Loan Fees and Charges

 Processing Fee 0.35% of loan amount(Rs 2,500-Rs 15,000) Documentation Charges Rs 1,350

## The Drawbacks of Using the Punjab National Bank Home Loan EMI Calculator

Here are a few challenges while using the PNB home loan EMI calculator:

• The calculator provides only rough estimates. Actual payments might differ due to additional fees and fluctuating interest rates.
• It doesn’t take into account other expenses like processing and documentation fees, impacting the overall loan cost.
• It overlooks how your credit score can influence the interest rates you receive, which can significantly change loan conditions.