Highlights
- Check PNB Home Loan Interest Rates
- Apply Online for a Hassle-free Experience
Punjab National Bank (PNB) is one of the leading home loan providers in India. The New Delhi-headquartered bank provides a home loan for a maximum tenure of 30 years at attractive rates of interest. But what exactly the rates are? Interested to know that? Take a look below.
PNB Home Loan Interest Rates April 2024
| 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 Balance Transfer Rates
Since a home loan goes for as long as 30 years, it makes a case for balance transfer which means shifting the outstanding loan balance from lender to another. So if your home loan is running somewhere at a higher interest rate, better you shift the portfolio to PNB and enjoy great savings in the form of reduced EMI and interest outgo over the course of a loan.
PNB Home Loan Documents Required
Here’s a list of the following documents you must submit to get the nod for a home loan.
| 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 |
Frequently Asked Questions
1. What is the current PNB home loan rate?
You can avail a PNB home loan at interest rates starting from 8.60% p.a. to 9.95% p.a. Depending on your overall eligibility for the home loan.
2. Will PNB home loan rate of interest go down in 2022?
The interest rates are usually adjusted at the end of every quarter. However, the movement of home loan interest rates cannot be predicted.
3. When does the interest rate of PNB home loan change?
PNB home loan interest rates usually change at quarterly intervals following the change in RBI’s Repo Rate.
4. What is the interest for 1 crore loan in PNB Housing Loan?
You can avail a PNB housing loan worth INR 1 Crore at affordable interest rates starting from 8.60% p.a.
5. How can I reduce my home loan interest rate in PNB?
If you wish to reduce your home loan interest rate in PNB, you can opt for the floating rate of interest at the time of home loan application.
6. What is PNB home loan interest rate for senior citizens?
Senior citizens can avail PNB home loans at interest rates starting from 8.60% p.a depending on the loan amount as well as the loan tenure of the home loan.
7. How much home loan can a government employee get in PNB?
The PNB home loan amount for a government employee is evaluated by considering factors like the monthly income of the applicant, repaying capacity, age, existing loans, loan amount, loan tenure, applicant’s CIBIL score, etc.
8. Does PNB Provide 90% Home Loan?
PNB provides home loans for 90% of the property’s value for a maximum repayment tenure of 30 years.
9. Is prepayment allowed in PNB home loan?
Yes, PNB allows repayment without any charges if you have surplus funds to pay more towards your home loan.