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  • Punjab National Bank Home Loan

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  • Punjab National Bank offers a variety of home loan schemes at competitive rates starting from 8.65% p.a. with a maximum loan of Rs.1 crore Women applicants are eligible for special concession on interest. You have the flexibility to extend the repayment tenure to 30 years (maximum). The processing fee applicable is 0.35% of the loan amount plus GST. EWS, LIG, and MIG applicants can enjoy subsidised rates under the PMAY scheme through PNB.  

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    Punjab National Bank, one of the public sector banks in the country offers a variety of home loans. Some of the housing loans offered are – PNB Max Saver, PNB Gen-Next Housing Finance, PNB Pride Housing loan. The bank offers home loan in excess of Rs.75 lakh at attractive interest rates. For some of the housing loans offered by PNB, the interest rates start at 8.65% p.a.

    Housing loan for Public/Gen-Next Housing loan

    Key Highlights
    • There is no cap on the maximum loan amount that can be availed, subject to maintenance of the prescribed Loan to Value (LTV) ratio
    • The repayment period for the loan is 30 years
    • Can be availed by IT professionals, PSBs/PSUs/Government employees
    • The minimum quantum of finance is Rs.20 lakh
    Category Loan Slab Interest rate (p.a.) Processing fee
    Women Up to Rs.75 lakh 8.65% 0.35% of the loan amount
    (Min of Rs.2,500 and Max of Rs.15,000)
    Above Rs.75 lakh 8.70%
    Others Up to Rs.75 lakh 8.70%
    Above Rs.75 lakh 8.75%

    PNB Max Saver

    Key Highlights
    • Allow beneficiaries to deposit their surplus funds in the overdraft account
    • A minimum of Rs.10 lakh can be availed as loan
    • The present outstanding of the loan amount is taken into consideration for conversion of the loan under this variant
    Category Loan Slab Interest rate (p.a.) Processing fee
    Women Up to Rs.75 lakh 8.80% 0.35% of the loan amount
    (Min. of Rs.2,500 and Max. of Rs.15,000)
    Above Rs.75 lakh 8.85%
    Others Up to Rs.75 lakh 8.85%
    Above Rs.75 lakh 8.90%

    PNB Pride Housing Loan

    Key Highlights
    • Can be availed at attractive rates.
    • The loan can be repaid over 30 years inclusive of the moratorium period.
    • A maximum of Rs.1 crore can be availed by individuals living in capitals and metro cities. Rs.50 lakh for other centres.
    Category Loan Slab Interest rate (p.a.) Processing fee
    Floating Up to Rs.75 lakh 8.65% Nil
    Above Rs.75 lakh 8.70%
    Fixed Up to Rs.75 lakh 9.15%
    Above Rs.75 lakh 9.20%

    Use BankBazaar Home loan EMI Calculator to know your EMI

    Planning to avail a home loan from Punjab National Bank? Consider using the Home loan EMI Calculator provided by BankBazaar to ascertain the EMIs that would be needed to be paid. All you need to do in order to find the payable EMI is enter details like the loan amount, tenure, interest rate, processing fee, etc. and click the ‘Calculate’ button.

    The website also allows you to see the amortisation table. The table helps you understand the repayment schedule as to how much of the EMI is posted towards the principal and interest on a monthly and yearly basis.

    Punjab National Bank Home Loan Eligibility Criteria

    • Can be availed by both individuals and joint owners
    • Must be above 18 years of age
    • Should not be older than 70 years at the time of loan maturity
    • Should have a regular source of income
    • Must be below 50 years of age (For PNB Flexible Housing loan)

    Documents required for All Home Loan Applicants under Punjab National Bank

    The documents listed below are needed to be submitted to the bank officials in order to avail a housing loan from Punjab National Bank:

    • Duly completed loan application form
    • Photograph
    • Proof of Identity
    • Proof of Residence
    • Proof of Age
    • Proof of educational qualification
    • Proof of Income
    • Property documents
    • Bank Statement for the last six months
    • Income proof of joint borrowers/spouse/earning children (if applicable)
    • ITR for the last 3 years
    • Assessment order and computation of income statement
    • For Salaried Class
      1. Income Tax Return/Salary certificate indicating gross and net salary issued by the employer
      2. Bank statement of salary account for the previous 6 months
    • For Agriculturist: Record of cropping pattern and land holding or any other proof of income

    Note: The bank officials may ask for additional documents as per the requirement of the case. So, cross verify with the bank officials regarding the documents which need to be submitted.

    Punjab National Bank (PNB) Pradhan Mantri Awas Yojana

    The bank for the purpose of purchase, construction, and expansion of a house offers housing loan to individuals from the Economically Weaker Section (EWS), Low Income Group (LIG), and Middle-Income Group. The loan is provided through the Credit-Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) scheme. The interest subsidy is available at rates which range from 3% p.a. to 6.5% p.a. depending on the category under which the beneficiary falls.

    The table listed below highlights the category, annual household income, and interest subsidy available under CLSS

    Category Annual Household Income Interest Subsidy
    Economically Weaker Section (EWS) Up to Rs.3 lakh 6.50%
    Low Income Group (LIG) Rs.3 lakh to Rs.6 lakh 6.50%
    Middle Income Group - I Rs.6 lakh to Rs.12 lakh 4%
    Middle Income Group - II Rs.12 lakh to Rs.18 lakh 3%

    Punjab National Bank Home Loan Resource Centre

    FAQs on Punjab National Bank Home loan

    1. At what discounted rate is the net present value of the interest subsidy calculated under PMAY?

      The net present value of the interest subsidy is calculated at the discounted rate of 9%.

    2. What is the maximum subsidy amount under PMAY for the various categories?

      The maximum subsidy amount under PMAY for the various categories are listed below:

      Category Subsidy amount
      EWS Rs.2,67,280
      LIG Rs.2,67,280
      MIG - I Rs.2,35,068
      MIG - II Rs.2,30,156
    3. What is the maximum loan tenure for which subsidy is available under PMAY scheme?

      The maximum loan tenure for which subsidy is available under PMAY scheme is 20 years.

    4. For what purposes can I avail a home loan from Punjab National Bank?

      The purpose for which housing loan can be availed from Punjab National Bank are as follows:

      1. Construction of house or flat
      2. Purchase of built house or flat
      3. Expansion of house/flat
      4. Purchase of land or plot
      5. To meet cost escalation in cases of under-construction flats
      

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    Punjab National Bank Home Loan Reviews

    • Punjab National Bank Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have availed Home loan directly through Punjab National Bank .The rate of interest and the processing fee was very high ,I have got the loan amount on delay basis and i have applied for 26 lakhs for the tenure of 15 years.I have not faced any difficulties until i have received the loan .
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 14, 2019
    • Punjab National Bank
      Punjab National Bank Home Loan
      "Need to decrease charges"
      0.5 1.0/5 "Really Bad"
      I have taken a home loan in PUNJAB NATIONAL BANK on 2 years before which was processed directly to bank. The loan amount was sufficient which was given from bank for the tenure of 19 years. The rate of interest is 9.7 which is high. The processing fee also high for this loan. The customer service is no proper response.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jul 26, 2019
    • Punjab National Bank Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for a home loan from Punjab National Bank. I closed the application due to some personal reason. Loan amount was sufficient but rate of interest was very high. Verification process was very smooth. PNB customer support is very good and responsive.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 05, 2019
    • Punjab National Bank Home Loan
      "Medium"
      0.5 3.0/5 "Satisfactory"
      I was applied for a home loan in PUNJAB NATIONAL BANK on a previous month which was processed through an online. I received a call from bank on time for further verification, the loan amount was okay which was offered from bank for the tenure of 10 years. The rate of interest and the processing fee are high when compare to other. Later banker has intimated cannot be process further for this loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 05, 2019
    • Punjab National Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had applied for home loan from Punjab National Bank. I closed the application temporarily due to rain. I will reopen it after Diwali. PNB's customer service is great and verification process was very fast. Loan amount is sufficient for me and rate of internet is also ok.
      Was this review helpful? 2
      , jaipur
      Reviewed on Jul 01, 2019
    • Punjab National Bank Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have closed the loan before 4 years, the documentation process was simple and no hassle faced. There was no processing fee for employee. The rate interest was simple interest of 5%, I got loan amount in one shot. The duration for repaying was 8yrs.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jun 26, 2019
    • Punjab National Bank Home Loan
      "AVERAGE"
      0.5 1.0/5 "Really Bad"
      I have applied for the home loan with the PUNJAB NATIONAL BANK, they have not conformed with the fixed or floating. The documentation process was long and it took time to get the loan 15-20days. The loan amount was given with the partial, the rate of interest was higher. The duration for repaying for 20 years, the customer support is not good.
      Was this review helpful? 0
      , greater noida
      Reviewed on Jun 11, 2019
    • Punjab National Bank Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan through Punjab National Bank directly applied ,rate of interest and the processing fee was nominal ,loan amt was 8 lakhs for the tenure of 12years ,the loan amount on time ,loan amount was sufficient ,documents submitted no issues ,still the loan is on process.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2019
    • Punjab National Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my housing loan with Punjab national bank from past one year, the loan amount which they have given to me was good, it was sufficient for me, the rate of interest they have charged me nominal ,even their processing fee was minimal. The loan came on time.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 15, 2019
    • Punjab National Bank Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Punjab National Bank Home Loan through Online .The response was good ,the loan amount got within20days after submitting documents ,the executive helped a lot ,The rate of interest and processing fee was nominal ,the loan amount was 40lakhs for the tenure of 30years ,there was no issues faced so far .Customer service is very good according to me.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 13, 2019
    • Punjab National Bank Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      It was a excellent experience with PNB for the home loan. The customer support is good and they are responsive to all my queries. The disbursement happened within five days. It was a very quick process. The rate of interest and charges are nominal too. The after loan services are good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 25, 2019
    • Punjab National Bank Home Loan
      "Part payment option is good"
      0.5 4.0/5 "Great!"
      I have my home loan also with Punjab national bank. The customer support is good and there are no hassles in the process. The interest rate and processing charges are nominal. The best about this bank is there is a part payment option so I close my loan at any time without any charges.
      Was this review helpful? 3
      , new delhi
      Reviewed on Apr 16, 2019
    • Punjab National Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have home loan with PUNJAB NATIONAL BANK . I got the service while taking the loan it was very great experience . They charge 11% rate of interest and i am fine with that . The customer executive is very responsive they help me through out the process .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Apr 10, 2019
    • Punjab National Bank Home Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have taken home loan from punjab national bank last five years my tenure is twenty years and I am satisfied with loan amount and rate of interested is nominal and no additional charge given needs. Also their customer service is good and I am satisfied with Punjab National Bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Mar 30, 2019
    • Punjab National Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my housing loan with Punjab national bank, They have given me loan amount more than my expectation,like based on my requirement they were given me more,but i reduce the amount and took loan,and the rate of interest they have charged me was nominal,i have done 2 years back top up with this loan,Still this loan is running.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 26, 2019
    • Punjab National Bank Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have my home loan with PUNJAB NATIONAL BANK . I have several problem earlier with this bank but now i am fine . I am not happy with customer services for this loan i have to follow up many times which is very disappointing . They charge nominal rate of interest .
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 25, 2019
    • Punjab National Bank Home Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I had taken this loan a long time back and the experience i had with them was pretty good. The only thing with them is that we had to make some follow up with the bank in-order to get the loan sanctioned where we have to visit the branch. Once the loan get approved we can sit back and relax. The interest rate with them has also been pretty low.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 12, 2019
    • Punjab National Bank Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My housing loan was taken with PUNJAB NATIONAL BANK , the services was good and process was smooth , i receive the loan on time . The tenure period is sufficient and they charge nominal rate of interest which is nominal in the market , and processing fee is nominal.
      Was this review helpful? 0
      , pune
      Reviewed on Mar 11, 2019
    • Punjab National Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My housing loan was taken with PUNJAB NATIONAL BANK , they have given me sufficient loan amount and the rate of interest they have charged me was nominal , and the processing fee also was charged nominal only, they have not charged any hidden charges there service is good.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Mar 08, 2019
    • Punjab National Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I took a home loan with PNB and my experience was good, the loan amount was they have given me was sufficient,and the rate of interest which they have given me was nominal, and they have charged me processing fee in this loan, . Customer service was good and the loan amount was disbursed on time.
      Was this review helpful? 2
      , mumbai
      Reviewed on Mar 02, 2019
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