A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Loading your search...
    Close

    Compare Home Loan Offers from Top Lenders. Apply Online and Get e-Approved Instantly.

  • Punjab National Bank Home Loan is Rated as "Excellent!" by 89 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Punjab National Bank Home Loan

    "Punjab National Bank, or PNB as it is popularly known, boasts of 120 years of fruitful experience and an enviable 6081 branches across the country, including 5 overseas branches. The bank counts ‘PNB Flexible Housing Loan’ as an important product in its arsenal. The bank ‘banks’ on its traditional image, strong banking fundamentals, nationwide presence and immaculate brand image to woo its target customers. And, considering the impressive returns that the bank is registering year-on-year, the plan is working!"

    Punjab National Bank Home Loan Interest RatesUpdated on 13 Nov 2018

    Punjab National Bank Home Loan Details
    Interest Rate 8.99% to 9.75%
    Processing Fees Upto Rs 300 lacs-0.50% , Max Rs.20000/- exclusive of service tax Above Rs 300 lacs - Rs 50000/- exclusive of service tax
    Loan Tenure 30 years or 70 years of age whichever is earlier
    Pre Closure Charges Nil

     

    Perfect Home Loan Deals for you

    Features of Punjab National Bank Home Loan

    The following features are the highlights of the PNB Home Loan:

    1. This loan can be used for the construction of a new house/flat/apartment, purchase of an existing house, land for construction of the house, repairs and renovation of existing building and furnishing.
    2. Choose between floating and fixed interest rates.
    3. Repayment tenure ranges up to 30 years (Also, EMI of just Rs.896/lakh- Conditions Apply).
    4. Fast, transparent process with zero hidden charges.
    5. Enjoy flexible or graduated repayment option.
    6. Shift your existing home loan from another insurer to PNB and enjoy lower EMI.
    7. Loan amounts are disbursed as per the following structure-
      • For purchase/construction/additions to house- Depends on requirement.
      • For home renovations/repairs- Rs. 25 lakhs (max)
      • For furnishing the house- Rs. 5 lakhs (max)
      • For purchasing a new plot of land- Rs. 50 lakhs (max)

    Punjab National Bank Bank Updates Home Loan Interest Rates

    Punjab National Bank (PNB), one of the leading home loan lenders in the country has recently updated their interest rates on housing loans. Earlier, the rate of interest on home loans ranged from 8.40% - 10.20% p.a. Currently, the home loan interest rates that PNB provide stands at 8.85% - 9.50% p.a.

    PNB Home Loan Eligibility:

    The eligibility criteria set for the acquisition of a home loan from PNB are as simple and customer centric as possible, amounting to the following-

    • This loan can be applied for by both individuals as well as joint owners.
    • The applicant(s) must not be younger than 18 years and older than 70 years at loan maturity.
    • The applicant(s) must have an established, regular source of income. In case of co-applicants like spouse, children and/or parents, their individual income can also be added.
    • For flexible home loan- Applicant must be an existing home loan borrower, not older than 50 years and must have availed the existing home loan as per PNB’s Housing Loan schemefor the public.

    Documents Required for PNB Home Loan:

    Next, when applying for the home loan, the following documents must be kept ready for verification-

    1. Completed application form with photographs.
    2. Proof of Identity: Passport, PAN Card, Driving Licence, etc.
    3. Proof of Residence: Passport, Driving License, Telephone Bill, Ration Card, Voter’s ID, etc.
    4. Proof of Age: Passport, PAN Card, Driving Licence, SSLC marks card, Voter’s ID, etc.
    5. Educational Qualifications: Documents in this regard, latest degree.
    6. Income Proof: Salary slips from the last 3 months, Form 16 for the last 2 years, Last 6 month’s bank statement detailing the salary account. For Self Employed- Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly audited by a Chartered Accountant, Last 12 month’s bank account statement detailing for self and business.
    7. Copies of title documents of the property and the approved plan.

    Punjab National Bank (PNB) Home Loan Interest Rate:

    Currently, PNB Home Loan is one of the popular home loan products available in the Indian market. One of the fundamental reasons for its enduring popularity is the PNB home loan interest rate that is comparable to some of the most competitive available options.

    The interest rates for various home loan products of PNB are as follows:

    Schemes Rate Of Interest (Based On MCLR Of 1 Year)
      Limit Up to Rs. 75 Lac Limit above Rs. 75 Lac
    Floating Women* MCLR+0.20% MCLR+0.25%
    Floating Others MCLR+0.25% MCLR+0.30%

    *Women should be the sole applicant or one of the co-applicant for the Home Loan and also the sole owner or one of the co-owners of the property proposed to be financed by the bank.

    Punjab National Bank MCLR:

    PNB’s Marginal Cost of Funds-based Lending Rate (MCLR) are as outlined below:

    MCLR - Tenure Revised
    Overnight 8.10%
    One month 8.10%
    Three month 8.20%
    Six month 8.40%
    One year 8.45%
    Three years 8.65%

    PNB Pride Housing Loan For Government Employees

    The PNB Housing Loans for Government Employees is a scheme that has been set up to ensure availability of Housing Loans at attractive interest rates for all government employees so that every government employee can afford to buy a house for himself/herself.

    • The government employee will be able to avail this loan to construct a house or flat, to purchase a house or flat, to purchase a unit in an ongoing residential project from Housing Boards/Development Authorities/Co-operative Societies/Approved Private Builder.
    • To carry out additional construction on constructed property, to repair or renovate an existing construction, to meet escalation of prices during the construction of a house/flat, to purchase a plot of land to build a house/flat.

    PNB Housing Loans for Government Employees Eligibility and Documentation:

    Individuals or Joint owners who are permanent employees of the central/state governments, defence personnel, paramilitary forces are eligible to avail the PNB Housing Loans for Government Employees.

    Listed below are the various documents the applicant will need to furnish to avail this category of home loan and Punjab National Bank:

    • Completed application form with photographs.
    • Proof of Identity: Passport, PAN Card, Driving Licence, etc.
    • Proof of Residence: Passport, Driving License, Telephone Bill, Ration Card, Voter’s ID, etc.
    • Proof of Age: Passport, PAN Card, Driving Licence, SSLC marks card, Voter’s ID, etc.
    • Educational Qualifications: Documents in this regard, latest degree.
    • Income Proof: Salary slips from the last 3 months, Form 16 for the last 2 years, Last 6 month’s bank statement detailing the salary account. For Self Employed- Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly audited by a Chartered Accountant, Last 12 month’s bank account statement detailing for self and business.
    • Copies of title documents of the property and the approved plan.
    • Proof of Employment: The individual will need to carry some form of identification to prove that he/she falls within the eligibility criteria to avail PNB Housing Loans for Government Employees.

    Housing Loan For Public – Pradhan Mantri Awas Yojana – Housing For All

    The PNB Housing Loan for Public – Pradhan Mantri Awas Yojana – Housing For All is a scheme set up by the Punjab National Bank to ensure availability of housing finance to economically weaker sections of society and low income groups at low interest rates and charges with the objective of providing housing for all in India. The scheme will allow the recipient to use the funds for the construction of additional rooms, kitchen, toilet etc. It also allows the recipient to utilize the funds to purchase a new house or flat or to start a new construction. This scheme will cover all 4041 Statutory Towns as per the Census of 2011.

    Features of Housing Loan For Public – Pradhan Mantri Awas Yojana – Housing For All

    • Under the Pradhan Mantri Awas Yojana scheme the beneficiaries will receive a subsidy between Rs.1 lakh and Rs.2.3 lakh from the central government treasury. This subsidy will allow people from Low Income Categories and Economically Weaker Sections of society to afford housing.
    • From the date of disbursement of the loan for 15 years the beneficiary will enjoy a subsidized interest rate of 6.5%.
    • The subsidy will be available for loans up to Rs.6 lakhs. Loan amounts higher than Rs.6 lakh will not be subsidized.
    • This scheme is targeted towards female applicants, therefore, female applicants will get houses allotted faster.
    • Differently abled and aged applicants will receive preference for allotment of ground floor houses.
    • The maximum subsidy amount under this scheme will be Rs.2,20,187.
    • The Net Present Value of the subsidy on interest will be calculated at a discounted rate of 9%.
    • This scheme has no charges for processing or documentation.

    The Margin (Borrower’s contribution has been given in the table below)

    Home Loan Amount Margin
    For loans up to Rs.20 lakh 10%
    For loans above Rs.20 lakh and up to Rs.30 lakh 20%

    Loan Disbursement

    The disbursement of the loan will take place as per the existing housing loans offered to the public. The loan disbursement should not exceed 4 instalments depending on the progress of construction, the bank will receive the subsidy from the National Housing Bank in 4 instalments.

    Security

    The borrower will need to provide an equitable security or a registered mortgage of the property in question.

    Loan Repayment

    The repayment can be made by the borrower up to the age 70 or 15 years, including the moratorium period, whichever is earlier.

    Moratorium

    • For construction purposes the moratorium period will be up to 18 months from the first disbursement of the loan or till the completion of the construction, whichever is earlier.
    • For renovation or repairs being made the moratorium period will last up to 6 months or till the completion of the renovation, whichever is earlier.
    • For the purchase of a ready built house/flat or plot of land the moratorium period will last up to 3 months or till the date of possession, whichever is earlier.

    PNB Gen-Next Housing Finance Scheme For Public

    The PNB Gen-Next Housing Finance Scheme For Public is a scheme set up by the Punjab National Bank to provide housing finance for people with higher incomes such as IT Professionals, Government employees, PSUs, etc. to provide them with decent housing options. This loan may be availed to purchase ready to move houses or flats, for the construction of a house, for the purchase of an under construction flat from an approved builder.

    Eligibility to Avail PNB Gen-Next Housing Finance Scheme For Public

    • The individual should be a salaried employee, with a minimum of three years experience. The co-borrower should also be a salaried employee.
    • The maximum age of the borrower at the time of disbursement should be 40 years. If there are multiple borrowers whose income has been taken into consideration to arrive at the eligible loan amount, at least one of the borrowers should be 40 years of age and the other may be a maximum of 45 years of age at the time of disbursement.
    • The minimum net monthly income of the borrower should be Rs.35,000.
    • (Net Monthly Income=Gross Salary-Statutory Deductions such as Income Tax, Provident Fund etc.)

    Features of PNB Gen-Next Housing Finance Scheme For Public

    • The quantum of finance will be 1.25 times the loan amount, which will be calculated according to the regular housing loan method, this is subject to maintenance of the prescribed Loan to Value (LTV) ratio.
    • The minimum loan amount a borrower may avail under this scheme is Rs.20 lakh.
    • There is no ceiling on the maximum loan amount, it is need-based. This is subject to the maintenance of the LTV ratio and the repayment capacity of the borrower.

    Margin

    Home Loan Amount Margin
    Loans up to Rs.75 lakh 20%
    Loans above Rs.75 lakh 25%

    Charges such as stamp duty, registration charges etc. shall be charged towards the borrower and not considered towards the margin money.

    Loan Repayment

    • The repayment period of PNB Gen-Next Housing Finance Scheme For Public is 30 years.
    • The borrower will make monthly payments to service the loan.
    • During the moratorium period only the interest on the loan will need to be serviced.
    • The EMIs for the 120 months after the moratorium period will be at the sanctioned limit for 360 months.
    • During the remaining period EMIs to fully amortize the remaining amount will need to be paid.

    Moratorium Period

    • For flats under construction from approved builders the moratorium period will last 36 months plus the remaining period till the date of possession, this will last a maximum of 60 months.
    • In all other circumstances the moratorium period will last 36 months.

    Insurance

    It is mandatory to get a term insurance policy equal to the loan amount. The borrower may choose to finance the cost of premium of such a loan. The cost of premium will be over and above the extent of the loan.

    Home Loan - Sitemap

    Punjab National Bank Home Loan Reviews

    • Punjab National Bank Home Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      My home loan experience was good with PNB, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good with PNB and they followed up on time. The tenure period for this loan is 8 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 01, 2018
    • Punjab National Bank Home Loan
      "Good Financial service"
      0.5 3.5/5 "Pretty good"
      I have taken Home loan from Punjab National bank . They instantly approved with in 3-4 days with rate of interest is quiet high for the loan. I make the payment through the ecs process . Am satisfied with their customer service and response . I have chosen good tenure too.
      Was this review helpful? 1
      , pune
      Reviewed on Nov 01, 2018
    • Punjab National Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been applied for my home loan with Punjab national banking and they have given sufficient loan amount according to my expectation like they have given me 30,00,000 lakh as loan, and the rate of interest previously was high but i have negotiated they now it is nominal for 6-8 month the rate of interest was low again it been nominal.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Oct 30, 2018
    • Punjab National Bank Home Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan with Punjab National bank. The customer services are good and they are responsive as well. The rate of interest and processing charges is normal. The process to get this loan was good and on time. It is hassle free overall.
      Was this review helpful? 1
      , noida
      Reviewed on Sep 19, 2018
    • Punjab National Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting this Home Loan has been good and the loan amount which they had provided had been good as well. The interest rate with them also had been good as well. There has not been any hassle faced with any of their services during the whole process.
      Was this review helpful? 5
      , lucknow
      Reviewed on Sep 03, 2018
    • Punjab National Bank Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I've taken a home loan from the Punjab National Bank for 30 Lacs. The interest rate was 9% which was pretty much fair at that time. The processed the loan after documentation an verification. I got the loan amount with out any hassle. It was a very good loan experience with the PNB.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 29, 2018
    • Punjab National Bank Home Loan
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I have done a home loan transfer with Punjab National Bank. The customer services and response is good and there are no issues in the process. The loan was processed on time and the interest rate and charges are normal. The after loan services is good too.
      Was this review helpful? 9
      , pune
      Reviewed on Aug 11, 2018
    • Punjab National Bank Home Loan
      "best servise"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from PNB Housing Finance and my loan experience was good, the loan amount was for Rs 21 lakhs with nominal interest rate when compared to others. I received my loan amount within 8 days and the customer support was good from PNB. The tenure period for this loan is 20 years.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jul 31, 2018
    • Punjab National Bank Home Loan
      "Worst Service"
      0.5 1.0/5 "Really Bad"
      I have applied the home loan with PNB housing. I have applied for 50 lakhs once i have given all my documents they have sanctioned the loan amount of 60 lakhs. They used to called me 3 times in a day. There is a proper follow up from them. Within 10 working days , my loan got sanctioned. They have sent a mail to mail id regarding the loan sanction letter. The customer care service is very nice. The IVR is guiding is very nicely. Once they have taken cheque, they did not given proper response. In PNB they have taken a amount of Rs. 5000 as processing fee.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jul 09, 2018
    • Punjab National Bank Home Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My home loan was taken with PNB 1 year back. The loan amount was 27 lakhs and the interest rate was 8.5% which is bit high . The process was good till disbursing the loan. The customer service and responses was not good after the the disbursement. The processing fee was bit high.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 07, 2018
    • Punjab National Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have approached PNB bank for a personal loan. The interest rate was very high here is i have canceled the request and taken with HDFC bank. The customer service and responses was up to the mark. I was looking for 25 lakhs and the interest rate was satisfactory .
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 06, 2018
    • Punjab National Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have approached PNB for a home loan. I was planning to take 30 lakhs and the given interest rate was satisfactory . Their customer service and responses was up to the mark but i have dropped the plan as of now so i have canceled the request also.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 06, 2018
    • Punjab National Bank Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The home loan service is good with the PUNJAB NATIONAL BANK and I am satisfied with it. The customer support service and the response is good with the Punjab national bank. They just took a day time to disburse the home loan amount . The rate of interest and the charges are average with the PNB when compared with others.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 04, 2018
    • Punjab National Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have recently taken this Home Loan 2 months back.The tenure which they had provided me was good. It took nearly fast time with all the process. I went to the bank directly and the whole process was pretty smooth and fast. It took less time for me to get the loan sanctioned.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 27, 2018
    • Punjab National Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My home loan is on going with Punjab National Bank. It was a good experience. They offered a nominal interest rate. I have taken 20 years and completed 24 months now. I have purchased a residential house. I can do the part payment easily. They processed the loan within 15 to 20 days.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 14, 2018
    • Punjab National Bank Home Loan
      "PNB Loan @ Poor services / "
      0.5 0.5/5 "Unacceptable"
      The customer support service is So disgusting or poor at PNB Loan , they are understand as customer is made !! Also, There is no revert to PNB Side even a single mail or call to know the reason about customer query or problem - Pls don't guide to some one for PNB Loan
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Feb 02, 2018
    • Punjab National Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Home loan from Punjab national bank,the service was good. The rate of interest offer by Punjab national bank is 10.25 which is high but I expected 9.25 from Punjab national bank. The documents have been collected from my door step. It was a good experience with Punjab national bank home loan department.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Feb 02, 2018
    • Punjab National Bank Home Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      The experience with PNB Home Loan has been pretty good. They gave Rs.10 Lakhs as the Loan and the Interest rate was well within 10%. The procedure in it is very good. The repayment option with them is pretty simple and effective too. The Loan was an easy one to apply.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 06, 2018
    • Punjab National Bank Home Loan
      "Quick process"
      0.5 5.0/5 "Blown Away!"
      I had applied for a home loan with Punjab national bank.the loan amount is 38 lakhs,rate of interest is 8.35% low as compared to other banks.The net banking is bestway to make payment. I am holding this account for two years.They are very quick in processing the request and they always respond on time.I did not submit documents as the bank has got a tie up with the builder.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 06, 2017
    • Punjab National Bank Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I approached Punjab National Bank regards to my home loan. They offer a good customer service. Executive came to my place and collected the documents. I had a good response and I am completely happy with the service. They have disbursed my loan within 2 to 3 days.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 10, 2017
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.