All about PNB Home Loan

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%