A "low interest" loan shouldn't mean you have very little interest in paying it back!
Punjab National Bank home loan eligibility is based on minimal criteria based on income or salary which makes it accessible to a wide range of individuals. The maximum repayment tenure is 30 years with attractive interest rates.
Punjab National Bank provides home loans to individuals who have a regular source of income, i.e., who are salaried, self-employed, professionals, farmers, entrepreneurs, etc. It is also open to staff members of the bank.
For PNB Flexible Housing Loan, the maximum age for eligibility is 50 years.
For the PNB Gen-Next Housing Finance Scheme, the maximum age for eligibility is 50 years, with a minimum net monthly income of Rs.35,000, and minimum 3 years of experience. This scheme is for employees of the state or central government, Public Sector Undertakings (PSUs), public sector banks, as well as those in the IT industry.
The Punjab National Bank home loan eligibility calculator given below shows you the loan amount that you are eligible for based on your monthly income taking into consideration a repayment tenure of 30 years with an interest rate of 6.80% p.a. (which is the starting interest rate for Punjab National Bank’s home loans).
| Monthly Income | Loan Amount |
| Rs. 25,000 | Rs.15,33,918 |
| Rs. 30,000 | Rs.20,70,790 |
| Rs. 35,000 | Rs.24,15,921 |
| Rs. 45,000 | Rs.31,06,185 |
| Rs. 50,000 | Rs.34,51,316 |
| Rs. 55,000 | Rs.42,18,275 |
| Rs. 60,000 | Rs.46,01,755 |
| Rs. 65,000 | Rs.49,85,235 |
| Rs. 70,000 | Rs.53,68,714 |
| Rs. 75,000 | Rs.57,52,194 |
Punjab National Bank’s home loan repayment tenure goes up to 30 years. The younger an individual is when they take the loan, longer will be their repayment tenure and vice versa. The maximum eligible tenure according to the age at which an individual starts the loan repayment is given below:
| Applicant’s Age | Maximum Eligible Tenure |
| 21 years to 30 years | 30 years |
| 31 years | 29 years |
| 32 years | 28 years |
| 33 years | 27 years |
| 34 years | 26 years |
| 35 years | 25 years |
| 36 years | 24 years |
| 37 years | 23 years |
| 38 years | 22 years |
| 39 years | 21 years |
| 40 years | 20 years |
| 41 years | 19 years |
| 42 years | 18 years |
| 43 years | 17 years |
| 44 years | 16 years |
| 45 years | 15 years |
The Loan to Value (LTV) ratio is the quantum of loan that is disbursed based on the value of the property that you intend to purchase. The LTV ratio for different loan amounts is as given below:
| Loan Amount | LTV Ratio |
| Up to Rs.30 lakh | 80% to 85% |
| Between Rs.30 lakh to Rs.75 lakh | 80% |
| Loans above Rs.75 lakh | 75% |
Your home loan eligibility is dependent on your Credit Score. The higher your credit score, the lower your interest rate and vice versa. Here are the ratings for different credit scores:
| Rating | Credit Score |
| Good | 750 and above |
| Average | 600 - 750 |
| Poor | Below 600 |
A Credit Information Company (CIC) score of 800 and above attracts the lowest interest rates on home loans offered by Punjab National Bank. To be eligible for a PNB home loan, the minimum credit score required is 650.
The eligibility criteria for women are the same as for other applicants. However, women are given an interest rate concession of 0.05% for all categories except for the Commercial Real Estate (CRE) loans.
Punjab National Bank Home Loan Eligibility for Co-Applicant
Punjab National Bank accepts co-applicants who have an assured and regular salary or source of income.
Punjab National Bank home loan eligibility is determined by the factors given below:
You can increase your eligibility for Punjab National Bank home loans by adding a co-applicant who can be a parent, spouse, or children who are drawing a regular salary or have a stable source of income. The co-applicant should also be made the co-borrower of the home loan.
The quantum of loan you will be eligible for under Punjab National Bank home loans will depend on your income and repayment capacity and is need- based depending on the cost of property as well.
Yes, you are eligible for a moratorium on your PNB home loan which will depend on the nature of property, i.e., for a ready-built house or flat or plot of land the moratorium is for 3 months or till possession date, whichever is earlier, while for construction of a house or flat, the moratorium is for 18 months or till the project is complete, whichever is earlier.
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