A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • PNB Home Loan Interest Rate

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  • PNB Bank offers amazing home loan products at competitive interest rates. Minimal documentation, quick processing and approval make them one of the go-to banks among customers. Read more the current interest rates and other hidden charges.

    Based in New Delhi, Punjab National Bank offers an extensive line of housing loan products for those looking to buy a real estate project developed by private builders. They also provide loan products for the public, to economically weaker sections of society, and government employees among others.

    The Interest Rates Offered are:

    Rates and Charges Specification
    Interest Rate 8.50% - 10.25%
    Processing Fees 0.5% for up to Rs.300 lakh, max Rs.20,000 Rs.50,000 above Rs.300 lakhs
    Loan Tenure 30 years or 70 years of age whichever is earlier
    Pre Closure Charges Nil

    The Interest Rates for Punjab National Bank’s home loans range from 8.65% p.a. to 10.55% p.a. The interest rate you are ultimately charged depends on various factors including the loan tenure and the type of home loan you decide to take.

    Types of PNB Housing Loans

    PNB has 6 different types of home loan schemes you can apply for. These are:

    • PNB Max-Saver: This home loan is a finance scheme for the public. It allows customers to deposit any surplus funds that they may have into an overdraft account and then withdraw the amount as and when they need it. The money from this scheme cannot be used to purchase any land or plot.
    • PNB Pride: This scheme ensures that government employees are able to avail home loans at an attractive rate of interest. The funds from this loan can be used to purchase under development or already constructed real estate projects. It can also be used to purchase land to construct a house or to carry out renovations or alterations to your home.
    • Housing Loan for Public: This scheme ensures that all people are able to purchase homes at an affordable rate of interest. Both individuals and joint owners can apply for this loan.
    • Pradhan Mantri Awas Yojana – Housing for All: The Pradhan Mantri Awas Yojana ensures that individuals who belong to economically weaker sections of society or those with low income can still purchase homes at an affordable rate of interest. This loan can be to purchase or construct a new home or make alterations and extensions to an existing dwelling.
    • Pradhan Mantri Awas Yojana – Housing for Middle Income Group: This loan helps those from middle-income groups buy homes at competitive rates of interest.
    • PNB Gen-Next Housing Finance Scheme for Public: This loan aims at providing government employees, IT professionals, and PSU employees with the funds required to buy a home.

    Interest Rates for PNB Home Loans

    Type of loan Loans up to Rs.75 lakh Loans above Rs.75 lakh
    Floating Women MCLR + 0.2% p.a. MCLR + 0.25% p.a.
    Floating Others MCLR + 0.25% p.a. MCLR + 0.3% p.a.
    Floating PNB PRIDE MCLR + 0.2% p.a. MCLR + 0.25% p.a.
    PNB Max Saver (Women) MCLR + 0.35% p.a. MCLR + 0.4% p.a.
    PNB Max Saver (Others) MCLR + 4% p.a. MCLR + 0.45% p.a.
    Floating OD HL MCLR + 1.4% p.a.
    Fixed General Floating + 0.5% p.a.
    Fixed PNB Pride Floating + 0.5% p.a.
    Stand-alone solar system MCLR + 2.1% p.a.

    A few things to keep in mind with respect to PNB Home Loan interest rates are:

    • The interest rate charged on most of the home loans is pegged to the bank’s 1-year MCLR which is 8.45% p.a. as of March 2019.
    • Floating Women rate of interest is offered only if a woman is the sole applicant or if she is one of the co-applicants. Additionally, she should also be the sole owner or one of the co-owners of the property that is being purchased or built.
    • PNB Pride interest rates are for central or state government employees, defence personnel, and para military forces.
    • PNB Max Saver is also a housing loan scheme but it is in the form of an overdraft. You can withdraw money from this account up to its drawing power.
    • The bank also provides you with a loan if you wish to purchase a stand-alone solar system. This is especially helpful in areas where there is plenty of sunlight and access to electricity is interrupted or absent.

    Factors Affecting PNB Home Loan Interest Rates

    • Applicant’s salary: Your annual income plays an important role in determining the quantum of loan you are eligible for as well as the interest rate you are charged. In general, banks are more willing to lend to those who have a relatively high salary since there is less risk of default.
    • Loan amount: The amount you borrow will, of course, determine how much you end up paying as interest. In general, if you make a large portion of the down payment from your own funds and borrow the rest, the rate of interest is lower. This is because you have a stake in the property too. As a result, the bank will think that you are less likely to default on your loan. On the other hand, a large loan amount means that a large portion of the risk is on the bank. With this in mind, they may end up charging you a high rate of interest on your home loan.

    Tips to Reduce the Interest on Your PNB Home Loan

    • Shorter Tenure: Long tenures generally mean a lower interest rate. However, it also means that you end up paying more in terms of interest. With short-tenure home loans, while the interest rate may be high, the actual amount you end up paying is much lesser.
    • Increase EMIs: If the rate of interest on your loan increases, banks tend to increase the tenure so that your EMI remains the same. The downside to that though is that you end up paying more in terms of interest. So, if possible, increase the amount you pay on your EMI and don’t take the option to increase the tenure on your loan.
    • Make part prepayments: Making a partial prepayment on your loan if you come into money is a great idea since the overall amount on which the EMI is calculated will be reduced to a large extent. If there is a prepayment fine, do your homework and see if it makes sense monetarily before making the payment. You don’t want to be in a situation wherein you end up paying more in the hope of reducing the EMI you need to pay.

    Home Loan EMI Calculator

    Knowing how much you need to pay each month goes a long way in helping you plan your finances. To determine how much you need to pay for your PNB Home Loan you can use BankBazaar’s Home Loan EMI calculator.

    Using the calculator is quite easy. All you need to do is key in details about your loan such as the amount, tenure, interest rate and processing fee. Also, mention if you will be making prepayments. Once you do this, hit ‘Calculate’. The calculator will show you how much you need to pay each month along with an amortisation table which details out just how much of your EMI payment goes towards paying the loan principal and how much goes towards servicing the interest on your loan.


    1. Will documentation and other charges borne by me be calculated as part of my margin money?
    2. No. All charges including documentation charges and stamp duty will not be considered as part of contribution towards margin money.

    3. What are the eligibility criteria for the Pradhan Mantri Awas Yojana credit linked subsidy scheme?
    4. Only individuals from economically weaker sections (EWS) of society or low-income group (LIG) persons are eligible for this home loan scheme. The other eligibility criteria are:

      • EWS households: Household income up to Rs.3 lakh with the house having a carpet area up to 30 square metres.
      • LIG households: Household income between Rs.3 lakh and Rs.6 lakh with the house having a carpet area up to 60 square metres.
    5. I have been working for an IT company for the last year. Can I apply for PNB’s Gen-Next Housing Finance Scheme?
    6. No. You need to have at least 3 years’ work experience to be eligible for this home loan.

    7. Do I need to make any payments during the moratorium period?
    8. While you don’t have to make EMI payments during the moratorium period, you will have to make interest payments.

    9. What is the moratorium period on PNB’s Gen-Next Loan?
    10. If you are buying a home form a PNB approved builder, the moratorium period is up to 60 months. If the builder is not part of the approved list of builders, the moratorium period is 36 months. Post this, you will have to start paying the EMI on your loan and not just servicing the interest.


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    PNB Home Loan Interest Rate 2017 Reviews

    • Punjab National Bank Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Several times I got response from PNB housing for my home loan request. But I took the loan from HDFC limited because I have my old loan with the same bank. But I believe PNB interest is more they quoted me 8.75 but in HDFC limited I got 8.6% of interest and also PNB housing is charging some where around Rs. 9000 fee.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jul 13, 2019
    • Punjab National Bank
      Punjab National Bank Home Loan
      "High rate of interest"
      0.5 1.0/5 "Really Bad"
      I have applied for a home loan with PNB HOUSING FINANCE LIMITED. Well i was looking for a tenure of 10 years for 17 lakhs. But PNB rate of interest was on the high side.The given interest was 9 percentage. They told they cant reduce the interest rate.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 22, 2017
    • Punjab National Bank Home Loan
      "good service"
      0.5 4.0/5 "Great!"
      There was lot of delay in the loan process with PNB ,rate of interest they offered was fine also the representatives are helpful during the process ,I can say the overall service is good from PNB for my home loan process. I don't have any queries with PNB service.
      Was this review helpful? 3
      , dehradun
      Reviewed on Oct 10, 2017
    • Punjab National Bank Home Loan
      "Good Experience"
      0.5 4.5/5 "Excellent!"
      PNB housing executive are cooperative they guided me on home loan process, they are very fast. Person from PNB housing came and collected the documents done the process. PNB interest rate is fine also, entirely I am very fine with their application procedure
      Was this review helpful? 0
      , indore
      Reviewed on Sep 20, 2017
    • Punjab National Bank Home Loan
      "Looking for better feature"
      0.5 4.0/5 "Great!"
      I am very surprised about PNB interest rate, normally other banks providing 8.35% of interest. But PNB offered me 8.5% of interest because I availed the housing through online channel. Hence they charged higher interest and also they taken processing of Rs. 7000 but SBI is charging only 3000 for housing loan.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Aug 05, 2017
    • Punjab National Bank Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I never face any kind of problem with PNB . But there was a rule issued by government that the unapproved plots will not given approval right now, so that was I have postponed my home loan plan with PNB housing limited . The customer service with PNB has gave me a call and told me to keep my documents ready after getting the plan approval from the government they told I can proceed with the loan.The PNB rate of interest is high when compared with SBI and HDFC.
      Was this review helpful? 1
      , salem
      Reviewed on Jun 13, 2017
    • Punjab National Bank Home Loan
      0.5 3.5/5 "Pretty good"
      Service was okay with Pnb, Interest rate for home loan was okay. Pnb have to communicate properly with the customers on time. Time to time updation should be given to the customer on future developments regarding loans. On a whole they took 1 month I am fine with it.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 12, 2015
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