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Punjab National Bank offers a variety of home loan schemes at competitive rates starting from 6.75% p.a. with a maximum loan of Rs.1 crore. 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.
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.
The loan can be repaid over 30 years inclusive of the moratorium period.
A maximum of Rs.50 lakh.
Processing fee:0.35% of the loan amount
Interest rate starting at 6.75% p.a.
PNB 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
Documents required for PNB Home Loan
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
Income Tax Return/Salary certificate indicating gross and net salary issued by the employer
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 up 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%
FAQs
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%.
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.
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:
Construction of house or flat
Purchase of built house or flat
Expansion of house/flat
Purchase of land or plot
To meet cost escalation in cases of under-construction flats
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I took my home loan from Punjab National Bank because compared to other bank here interest rate is less. Its been 3 years and availed loan amount was Rs. 2,00,000. Am paying through auto debit option on every month 10th, they will send the reminder text.
I have taken a home loan in PNB bank before 3 years. The loan was processed through bank . The process was smooth and loan got sanctioned on time. The loan amount was sufficient for the tenure of 25 years. The rate of interest and the processing fee are nominal.
I have taken Housing loan directly through PNB and the loan amount was Rs. 12lakhs. The rate of interest was 10.75% floating which is quite nominal and the tenure is 3 years. I am paying EMI every month Rs. 38,000. Customer service was neutral and it took 2 months for the loan process.There is no proper communication they are increasing the rate of interest without any information.
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 .
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.
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.
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.
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UPADHAYAY
, visakhapatnam
Reviewed on Jul 05, 2019
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.
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.
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.
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2
PRASHANT CHANDRA SAXENA
, greater noida
Reviewed on Jun 11, 2019
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.
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1
DINESH KUMAR MAHESHWARI
, new delhi
Reviewed on May 20, 2019
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.
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.
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2
KALPESH WAIRKAR WAIRKAR
, mumbai
Reviewed on May 13, 2019
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.
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.
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4
RANJAN KUMAR SINGH
, new delhi
Reviewed on Apr 16, 2019
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 .
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3
VENKATANARESH NAGUNOORI
, hyderabad
Reviewed on Apr 10, 2019
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.
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.
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NAVAL RAJENDER JHA
, mumbai
Reviewed on Mar 26, 2019
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 .
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.
