PNB Housing Finance provides home loans @8.60% p.a. onwards for a period of up to 30 years. PNB offers a home loan overdraft facility and some other products as well to their defense personnel, government employees, and salaried employees working with IT concerns or Govt. /PSUs up to the age of 40 years. It finances up to 90% of the property’s cost. It provides many benefits like attractive interest rates, minimal documentation, longer tenure for repayment, quick disbursal of loans, and prompt customer service.
It can be used for a variety of purposes, just like the Tata Capital Home Loan, like buying a plot, purchasing a flat, constructing and improvement of a house, and even extending the existing residence with a home loan.
| PNB Home Loan – A Snapshot | |
| Interest Rate | 8.60% – 9.60% p.a. |
| Loan Amount | As per the borrower’s eligibility |
| Tenure | Up to 30 years |
| Processing Charges | 0.35% (INR 2,500- INR 15,000) |
Eligibility Criteria
Below mentioned are the eligibility criteria to apply for PNB Home Loan:
| Age Limit | At the time of applying for a loan, an applicant should be 21 years of age or above. And it should not exceed 70 years at the time of maturity of the loan. |
| Monthly Salary | INR 15000 and above |
| CIBIL | Minimum 611 |
| Work experience in case of Salaried | 3+ Years |
| Business Continuity in case of Self Employed | 3+ Years |
Documents Required
Below mentioned are the documents required to apply for PNB Home Loan:
In the case of Salaried Employees
- Duly filled in Loan Application Form along with Photograph
- Age Proof (PAN Card, Passport, etc.)
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Body)
- Educational Qualifications
- Income Proof: a) Salary slips for the last 3 months
- b) Form 16 for the last 2 years
- c) Latest 6 months bank statement
- Other documents related to property
In the case of Self-Employed Employees
- Duly filled in Loan Application Form along with Photograph
- Age Proof (PAN Card, Passport, etc.)
- Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Body)
- Educational Qualifications
- Income Proof: a) Proof of the existence of Business
- b) ITR for the last 3 years
- c) Certified P & L and Balance Sheets
- d) Bank Account Statements for the last 12 months
- Other documents related to property
Easy Steps to Apply for PNB Home Loan Online
Below mentioned are some easy steps to apply for PNB Home Loan Online:
- Step 1: Visit the official website of PNB Housing i.e. “Apply for Loan” page.
- Step 2: Enter the full name as mentioned in the government ID Proof i.e. Aadhar Card or PAN Card.
- Step 3: Provide the mobile number.
- Step 4: Click on “Options” and select the range for the loan amount to be raised.
- Step 5: Provide an e-mail address for correspondence purposes with respect to the loan.
- Step 6: Provide the current location for better reachability from PNB.
- Step 7: Click on the box that affirms that the legit details have been submitted and the notifications about the same should be received before pressing the “Submit” button.
PNB Home Loan Interest Rates
Home Loan Interest Rates for up to INR 35 lakh
| Credit Score | Salaried / Self – employed professional (SEP) | Self – employed non – professional (SENP) |
| >=800 | 8.75% to 9.25% | 8.8% to 9.3% |
| >775 to 799 | 9.1% to 9.6% | 9.55% to 10.05% |
| >750 to <=775 | 9.25% to 9.75% | 9.7% to 10.2% |
| > 725 to < =750 | 9.55% to 10.05% | 10.15% to 10.65% |
| > 700 to <= 725 | 9.85% to 10.35% | 10.45% to 10.95% |
| > 650 to <= 700 | 10.25% to 10.75% | 10.65% to 11.15% |
| Up to 650 | 10.25% to 10.75% | 10.65% to 11.15% |
| NTC Cibil >=170 | 10.25% to 10.75% | 10.65% to 11.15% |
| NTC Cibil <170 | 10.15% to 10.65% | 10.55% to 11.05% |
Home Loan Interest Rates for above INR 35 lakh
| Credit Score | Salaried / Self – employed professional (SEP) | Self – employed non – professional (SENP) |
| >=800 | 8.75% to 9.25% | 8.8% to 9.3% |
| >775 to 799 | 9.2% to 9.7% | 9.7% to 10.2% |
| >750 to <=775 | 9.35% to 9.85% | 10.05% to 10.55% |
| > 725 to < =750 | 9.7% to 10.2% | 10.2% to 10.7% |
| > 700 to <= 725 | 10.05% to 10.55% | 10.65% to 11.15% |
| > 650 to <= 700 | 10.45% to 10.95% | 10.85% to 11.35% |
| upto 650 | 10.45% to 10.95% | 10.85% to 11.35% |
| NTC Cibil >=170 | 10.45% to 10.95% | 10.85% to 11.35% |
| NTC Cibil <170 | 10.35% to 10.85% | 10.75% to 11.25% |
Comparison of PNB Home Loan Interest Rates Vs. Other Lenders
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.50% – 10.15% | 8.50% – 10.05% | 8.50% – 10.05% |
| HDFC | 8.50% – 10.35% | 8.50% – 10.60% | 8.50% – 10.70% |
| LIC Housing Finance | 8.60% – 10.35% | 8.60% – 10.55% | 8.60% – 10.75% |
| ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
| Kotak Mahindra Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| PNB Housing Finance | 8.75% – 14.50% | 8.75% – 13.00% | 8.75%-11.35% |
| Punjab National Bank | 8.65%-9.60% | 8.60%-9.50% | 8.60%-9.50% |
| Bank of Baroda | 9.15% – 10.65% | 9.15% – 10.65% | 9.15% – 10.90% |
| Union Bank of India | 9.00% – 10.75% | 9.00% – 10.95% | 9.00% – 10.95% |
| IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| L&T Housing Finance | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Bajaj Housing Finance | 8.70% onwards | 8.70% onwards | 8.70% onwards |
| Tata Capital | 9.15% onwards | 9.15% onwards | 9.15% onwards |
| Federal Bank | 10.15%-10.20% | 10.20%-10.25% | 10.25%-10.30% |
Factors Affecting Home Loan Interest Rates
Below mentioned are the factors that affect home loan interest rates:
- Income
- Loan Amount
- Interest Rate Type
- Credit Score
- Type of Employment
- Type of Loan Amounts
Tips to Avail PNB Home Loan Interest Rates
Below mentioned are the factors that affect PNB home loan interest rates:
- Increase the down payment & tenure
- Select the right type of interest rate
- Factor in income & employment status
- Increase of credit score
- Consider a female applicant
- Opt for a home loan balance transfer
- Look out for promos and offers
Features & Benefits of Home Loan
- Attractive Rate of Interest
- Home Loan Product Bouquet
- Home Loan up to a 30-Year Tenure
- Easy Finance
- Low Processing Fee
- Customer-Friendly Features & Convenience