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

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.55% - 9.80% Floating
    0.25% to 0.50%(min.₹11,500) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.50% - 9.75% FIXED:3 years,FLOATING Thereafter
    0.25% to 0.50%(min.₹11,500) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Value Adds
    9.50% - 9.75% FIXED:5 years,FLOATING Thereafter
    0.25% to 0.50%(min.₹11,500) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    9.75% - 9.95% FIXED:10 years,FLOATING Thereafter
    0.25% to 0.50%(min.₹11,500) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    PNB Housing Finance Home Loan is Rated as "Pretty good" by 362 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    The PNB Housing Finance Limited (PNBHFL) started its operations on November 11, 1988. A registered member of the National Housing Bank (NHB), the influential Punjab National Bank (PNB) owns 51% stake in PNBHFL, allowing the latter, two decades worth of solid credibility when it comes to home loans in India. Spread across India, PNB HFL is dedicated to disbursing housing loans to individuals and corporates alike, and back its enviable reputation with some solid customer support and precise legwork.


     

    You’re probably eligible for an PNBHFL Home Loan if you are

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    PNBHFL Home Loan Minimum Age

    At least 23 years old

    PNBHFL Home Loan Maximum Age

    Less than 70 years old

    PNBHFL Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    PNBHFL Home Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your PNBHFL Home Loan amount eligibility is based on these factors

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    PNBHFL Home Loan Minimum Salary

    Earn more than the minimum
    income required

    PNBHFL Home Loan Maximum Loan to property value

    Loan capped @ 80% of property value

    PNBHFL Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible PNBHFL Home Loan amount by these steps

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    PNBHFL Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    PNBHFL Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    PNBHFL Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an PNBHFL Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee Cheque
    • 4. Latest bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income

     

    PNBHFL Home Loan Interest RatesUpdated on 29 Sep 2016

    PNBHFL Home Loan Details
    Interest Rate Floating - 9.55% - 9.80%
    FIXED 3/5 years - 9.50% - 9.75%
    FIXED 10 years - 9.75% - 9.95%
    Plot Purchase will be charged 1% higher rates
    Processing Fees 0.25% to 0.50%(min.₹11,500)
    Loan Tenure 1 year to 30 years
    Guarantor requirement No guarantor required
    Partial PrePayment Charges Nil
    Pre Closure Charges Nil

     

    Home Loans from PNB Housing Finance:

    Humankind pays rich respects to the concept of choice. Unlike the finality of a single solution, choices offer variety and a more refined, personalised solution. In this vein, the various home loans offered by PNB Housing Finance Limited allow a prospective borrower to choose a solution that works best for him/her. From home loans dedicated to the purchase of property, construction, extension of the house, to loans that help in the functional improvement of a home, the options are many. The choice, is yours.

    The PNB Housing Finance Home Loan comes in the formats listed herein. Expounding, each offers a specialised home loan solution the fits snugly with your specific requirements.

    1. Home Purchase Loan- For the construction, purchase or extension of your living space.
    2. Home Construction Loan- For the self-construction of a residential home.
    3. Home Extension Loan- To help you add more space to your existing home.
    4. Home Improvement Loan- For the aesthetic and/or functional improvement of your home. This can include internal/external repairs, roofing, painting, waterproofing, plumbing, electrical works, etc.
    5. Residential Plot Loan- For the purchase of a residential plot of land in an urban area, where subsequently, your house will be built.
    6. Loan for NRIs- To help NRIs construct, purchase, repair or renovate residential properties in India.

    All of these home loan products are backed by a solid customer support initiative and the company’s hard earned on-field experience. No wonder PNB Housing Finance is this popular- the company has taken the time to understand its target audiences’ base requirements and fashioned home loan products in line with said requirements.

    PNBHFL Home Loan Eligibility and Documentation:

    The eligibility criteria set for the acquisition of a home loan from PNBHFL are as follows,

    1. The applicant must be an Indian citizen or a fully documented NRI. Essentially, a Person of Indian Origin (PIO).
    2. The applicant’s age must not exceed 70 years at the time of loan maturity.
    3. If the applicant is looking for the NRI Loan, he/she must have worked for atleast one year in a foreign country. Employed people who go abroad on deputation aren’t eligible for this loan.

    Next, the following documents must be submitted at the initiation of the loan acquisition process:

    • Completed application form with photographs.
    • Proof of Age- Passport, PAN Card, Driving License, etc.
    • Proof of Residence- Passport, Driving License, Telephone Bill, Ration Card, Voter’s ID, etc.
    • Educational Qualifications- Documents in this regard, latest degree.
    • Copy of Passport/ PIO card and work permit (case based requirement).
    • Salary slips from the last 3 months.
    • Employment Proof- Appointment letter from current job, income statements for 2 years.
    • Form 16 for the last 2 years.
    • Last 6 months bank statement detailing the salary account.
    • Processing Fee- Cheque drawn in favor of 'PNB Housing Finance Ltd'.
    • Copies of title documents of the property and the approved plan.
    • In case of Construction/ Renovation- Cost estimate from the Architect.

    Kindly note that, all of these documents must be self-attested by the applicant.

    New PNBHFL Home Loan Interest Rate:

    PNB Housing Finance, being a non-banking financial institution, has not declared Marginal cost of Funds-based Lending Rate (MCLR). Interest rates are based on the benchmark PNBHFR of 14.35% per annum. However, the new interest rates for home loans announced on May 9, 2016, make PNBHFL’s housing finance competitive and customer-friendly.

    The table below outlines the different interest rates available with the institution:

    Salaried Self Employed Professionals Self Employed Non-Professionals
    Floating Rate 9.55% 9.55% - 10.55% 9.8% - 11.3%
    Fixed rate (3 years) 9.5% - 10.5% 9.5% - 10.5% 9.75%- 11.25%
    Fixed rate (5 years) 9.5% - 10.5% 9.5% - 10.5% 9.75%- 11.25%
    Fixed rate (10 years) 9.75% – 10.75% 9.75% – 10.75% 9.95% – 11.45%

    The fixed rate loans will revert to the floating rates as applicable at the end of the fixed rate tenure.

    Features of PNB Housing Finance Home Loan:

    The salient features of a PNBHFL Home Loan are listed herein,

    • Expansive network of operational branches spread across India.
    • Loans for all requirements- Purchase, Construction, Extension, Improvement and Plot loans.
    • Hassle free application processing, transparent procedures and zero red-tape.
    • Quick and easy approval and disbursal of loans, thanks to an efficient service delivery model.
    • Robust customer support handled by highly qualified professionals.
    • Ethics, Integrity and Openness are central pillars at PNBHFL.
    • 7. Easy repayment options.

    Why Apply for a PNB Housing Finance Home Loan on BankBazaar?

    Applying for a home loan on BankBazaar offers the following unbeatable advantages:

    1. Save time: Avoid running around for your PNBHFL home loan. From checking out all the features, to applying and running down the list of required documents, to finally receiving confirmation from PNBHFL, everything happens quickly and smoothly- thanks to BankBazaar’s interactive and informative approach.
    2. All the Information you Need: Everything important, from the basic terms and conditions to the eligibility factors, from PNB housing finance interest rate to documentation required, find everything you need, here!
    3. Compare and Review: Compare the PNBHFL home loan against other loan options available in the Indian market. Read reviews from your peers about their own borrowing experience, clear nagging queries by contacting BankBazaar’s expert customer support team.
    4. Simple and Transparent Application Process: No hidden charges, no red-tape, not too technical that only a rocket scientist can understand, and immensely respectful of your requirements and limitations.
    5. 100% Safe: Your personal information is treated with the maximum care, never shared with anyone other than PNBHFL and passed through robust, encrypted systems that have 0% tolerance towards malicious intent.

    PNBHFL Home Loan EMI Calculator

    A Home Loan Calculator, or Home Loan EMI Calculator, is helpful with the electronic computation of the Equated Monthly Installments (EMI) that applies to your loan. When speaking of home loans from PNBHFL, the EMIs can be calculated by using the immensely helpful, time saving and highly interactive Home Loan EMI Calculator on BankBazaar website.

    This calculator offers the following advantages:

    1. Super Fast: EMI calculation for your home loan can be accomplished in minutes.
    2. Lots of Information: Gather a lot of information associated with your home loan- applicable EMI amount, amortization details etc.
    3. 100% Free: Using this handy tool is completely free of cost.
    4. Try Different Combinations: Enter different PNBHFL home loan interest rates or tenures and analyse the resultant EMI. Find the combination that works best for you.

    The home loan offering from PNBHFL is robust, highly customer centric and comprehensive. Offering attractive interest rates and a solution for every home loan requirement, the PNB Housing Finance Home Loan is a definite favourite to deserve your time and attention.

    News About PNB Housing Finance Home Loan

    • PNB Housing Finance plans on expanding with its IPO

      With an eye on expansion to smaller towns and cities, PNB Housing Finance plans to utilize a large chunk of its IPO (Initial Public Offering) to create a larger presence in markets with greater potential. It must be noted that the housing loan arm of PNB is planning to go public soon with an offer of Rs. 2,500 crore.

      At present, a little over 40% of its loan portfolio comes from the northern states. The fifth largest home loan company in the country will use the proceeds expand in tier 2 and tier 3 cities and towns. In order to increase its presence in the lower to middle income segment, it had launched a new home loan scheme earlier this year. Christened “Unnati’’, this scheme will offer a loan quantum of up to Rs.25 lacs at low rates. The IPO formalities are likely to be completed in the next 2-3 months.

      19th August 2016

       
    • New home loan scheme launched by PNB Housing

      PNB Housing Finance Ltd. has launched a special housing scheme for customers who earn Rs.10,000 and above per month. The idea is in line with the government's efforts to provide shelter to people from all economic sections of the society. The new home loan scheme is sure to lend cheer to the lower and middle income segments of the society.

      Unnati home loan, which is the name of the new scheme has a tenure of 30 years and will come with interest rate options of both fixed and floating. Customers are eligible to take loans for up to 90% of the property value.

      5th May 2016

       

    PNB Housing Finance Home Loan Reviews

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