Punjab National Bank Home Loans

PNB Housing Loan For Public

Processing Fee
50000

Loan Amount
₹ Up to 1 Crore
Tenure
1 - 30 Years

Description:

Punjab National Bank Home Loan –

 

Being one of the leading banks of India, Punjab National Bank (PNB) offers home loan to all those people who are looking to buy home, but do not have the funds to do so. Over the years, the traditional image, strong banking fundamentals, nationwide presence, and unspoiled brand image have been the strong pillars of the bank.

 

Why PNB  

 

When choosing a right home loan, you look for affordable interest rates, flexible tenure, expansive set of features, simple documentation, speedy processing, etc. Rest assured, PNB (Punjab National Bank) has all these features and much more. The bank has categorized their home loan section in two segments –

 

Home Loans –

 

Non-Home Loans –

 

Whether you are a salaried individual or self-employed, HDFC Bank has a loan for you. Let us discuss them in detail –

 

Salaried Individuals

 

As per ‘PNB Pride Scheme’ scheme, Punjab National Bank provide home loan to all the salaried individuals including employees of central, state, defense, and paramilitary forces.

 

Features and Benefits –

Eligibility –

 

Interest Rates –

Category

Floating Interest Rates

Salaried

8.90%

 

Term

Fixed Interest Rates

3 Years

8.80% - 9.30%

5 Years

8.80% - 9.30%

10 Years

9.10% – 9.60%

 

Documentation –

 

Margin –

Home Loan Amount

Margin

Loans up to Rs. 75 Lacs

20%

Loans above Rs. 75 Lacs

25%

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 30 Lakhs

90% of market value

Rs. 30 Lakhs and above, up to Rs. 75 Lakhs

80% of market value

Above Rs. 75 Lakhs

75% of market value

 

Home Improvement Loan – Even though you have made your house perfect, but there may be some top-up features you want to add. This is where you can use one of Punjab National Bank’s home loan schemes - Home Improvement Loan to make the necessary changes to your dream house. When it comes to improvement, it can be full renovation, waterproofing, ceiling fixing, tiling & flooring, etc.

 

Benefits –

 

Eligibility –

Your age should be less than 70 years at the time of loan maturity.

 

Interest Rates –

 

Floating Rate –

Category

Interest Rate

Salaried Individuals

8.60% - 10.25%

 

Fixed Rate –

For amount up to Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.50% - 10.25%

8.60% - 10.25%

8.60% - 10.25%

9.00% - 10.25%

 

For amount above Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.60% - 10.25%

8.70% - 10.25%

8.70% - 10.25%

9.00% - 10.25%

 

Documentation –

*All the above-mentioned documents should be self-attested.

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 20 Lacs

90% of market value

Rs. 20 Lacs and above, up to Rs. 75 Lacs

80% of market value

Above Rs. 75 Lacs

75% of market value

 

Home Purchase Loan – If you are looking to buy your own house, then this is the loan for you. This is also one of the popular home loans of Punjab National Bank.

 

Benefits –

 

Eligibility –

Your age should be less than 70 years at the time of loan maturity.

 

Interest Rates –

Floating Rate –

Category

Interest Rate

Salaried Individuals

8.60% - 10.25%

 

Fixed Rate –

For amount up to Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.50% - 10.25%

8.60% - 10.25%

8.60% - 10.25%

9.00% - 10.25%

 

For amount above Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.60% - 10.25%

8.70% - 10.25%

8.70% - 10.25%

9.00% - 10.25%

 

Documentation –

*All the above-mentioned documents should be self-attested.

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 30 Lakhs

90% of market value

Rs. 30 Lakhs and above, up to Rs. 75 Lakhs

80% of market value

Above Rs. 75 Lakhs

75% of market value

 

Pride Housing Loan – This scheme is offered to the government employees at affordable interest rates so that they can have a house for themselves.

 

Benefits –

 

Eligibility –

 

Interest Rates –

Loan Amount

Interest Rates

Loan Up to Rs. 75 Lakhs

20%

Loan above Rs. 75 Lakhs

25%

Purchase of land/plot for house building

25%

 

Documentation –

 

Borrowing Limit –

The amount will depend on the cost of the project and your repaying capability. For State Capitals and Metros, if you have plans to buy a land or a plot, then you take a maximum of Rs. 100 Lakhs and for other centres, Rs. 50 Lakhs. For repairing, renovation and other alterations, then the maximum amount you can avail is Rs. 25 Lakhs.

 

Housing Loan for Public – Pradhan Mantri Awas Yojana – Housing for All – As per this scheme, if you belong to economically weaker section and low income group, this Punjab National Bank home loan scheme ensures easy availability of housing finance at affordable interest rates.

You can use the funds to construct additional rooms, toilet, kitchen, etc. You can also use the funds to buy a new house or a flat or you can also start a construction. The scheme will also include 4041 Statutory Towns as per the Census of 2011.

 

Benefits –

 

Eligibility –

 

Margin (Borrower’s Contribution) –

Home Loan Amount

Margin

For Loans up to Rs. 20 Lakhs

10%

For Loans above Rs. 20 Lakhs & up to Rs. 30 Lakhs

20%

 

Processing Charges/Upfront Fee – There are no charges for loans up to Rs. 6 Lac.

 

Housing Loan for Public – Pradhan Mantri Awas Yojana – Middle Income Group – This scheme from PNB ensures that there is an availability of housing loan to all those people belonging to MIG I and MIG II categories. These loans are offered at attractive interest rates.

 

Key Features –

 

Eligibility –

 

Margin (Borrower’s Contribution) –

Loan Amount

Interest Rate

Loan up to Rs. 75 Lakhs

20%

Loan above Rs. 75 Lakhs

25%

 

Borrowing Limit –

 

Residential Plot Loan – In order to construct residential premises, you can avail one of the popular schemes of PNB home loan to buy a residential plot in an urban region.

 

Main Features –

 

Eligibility –

Floating Rate –

Category

Interest Rate

Salaried Individuals

9.60% - 11.25%

 

Fixed Rate –

Fixed for 1 Year

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.35% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

9.00% - 10.25%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 20 Lakhs

90% of the market value

Rs. 20 Lakhs and above, up to Rs. 75 Lakhs

80% of the market value

More than Rs. 75 Lakhs

75% of the market value

 

Home Loan for NRIs – Buying, repairing, constructing and renovating a residential property in India is made easier by Punjab National Bank’s NRI Home Loan.  

 

Key Features –

 

Eligibility –

 

Interest Rates –

Floating Rate –

Category

Interest Rate

Salaried Individuals

8.50%

 

Fixed Rate –

Fixed for 1 Year

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.35% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

9.50% - 10.25%


 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 75 Lakhs

80% of the market value

Above Rs. 75 Lakhs

75% of the market value

 

Unnati Home Loans – This PNB Home Loan is for the customers belonging to the lower and middle income segment. This loan enables them to turn the dream of owning their own home into reality at affordable EMIs (Equated Monthly Instalments).

 

Key Features –

 

Eligibility –

 

Interest Rates –

Floating Rate – 9.75%

Fixed Rate –

Fixed for 1 Year

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

9.75%

9.75%

9.75%

9.75%

9.75%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 25 Lakhs

Up to 90% of the property’s market value.

 

Pradhan Mantri Awas Yojana – This Credit Linked Subsidy Scheme of PNB Housing Loan is for the EWS (economically weaker section) and LIG (lower income group), and MIG (middle income group) and undoubtedly a key Punjab National Bank home loan. As per this scheme, you can avail interest subsidy on the construction, renovation, and purchase of a house.

 

Main features & benefits –

 

Interest Rates – 8.50% – 8.70%

 

Documentation –

 

Borrowing Limit –

The maximum loan amount you can borrow is Rs. 30 Lakhs.

 

Self-employed Individuals

Punjab National Bank offer tailor-made home loans for the self-employed as well. So, whether you are a doctor, lawyer, or chartered accountant, rest assured PNB has a home loan for you with attractive interest rates.

 

Key Features –

 

Eligibility –

Interest Rates –

Category

Floating Interest Rates

Self-employed professionals

8.90% - 9.40%

 

Tenure  

Fixed Interest Rates

3 Years

8.80% - 9.30%

5 Years

8.80% - 9.30%

10 Years

9.10% - 9.60%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 30 Lakhs

90% of market value

Rs. 30 Lakhs and above, up to Rs. 75 Lakhs

80% of market value

Above Rs. 75 Lakhs

75% of market value

 

Home Improvement Loan – There is no doubt that the interiors of your house reflects your personality and to constantly upgrade it in terms of looks, PNB offers Home Improvement Loan.

 

Key Features –

 

Eligibility – Your age should be less than 70 years at the time of loan maturity.

Interest Rates – PNB Housing Loan has floating interest rate, linked to its benchmark rate PNBHFR –

Floating Rate –

Category

Interest Rate

Self-employed Professionals

8.60% - 10.25%

 

Fixed Rate –

For amount up to Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.50% - 10.25%

8.60% - 10.25%

8.60% - 10.25%

9.00% - 10.25%

 

For amount above Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.60% - 10.25%

8.70% - 10.25%

8.70% - 10.25%

9.00% - 10.25%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 20 Lacs

90% of market value

Rs. 20 Lacs and above, up to Rs. 75 Lacs

80% of market value

Above Rs. 75 Lacs

75% of market value

 

Home Purchase Loan – As per the scheme of PNB Home Loan, you can avail Home Purchase Loan to buy, construct, and extend the dwelling units. The bank offers customized home loan solutions along with top-notch services and simplified loan procedures.

Key features and benefits –

 

Eligibility – Your age should be less than 70 years at the time of loan maturity.

Interest Rates –

Floating Rate –

Category

Interest Rate

Self-employed individuals

10.25%

 

Fixed Rate –

For amount up to Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.50% - 10.25%

8.60% - 10.25%

8.60% - 10.25%

9.00% - 10.25%

 

For amount above Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.60% - 10.25%

8.70% - 10.25%

8.70% - 10.25%

9.00% - 10.25%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 30 Lakhs

90% of market value

Rs. 30 Lakhs and above, up to Rs. 75 Lakhs

80% of market value

Above Rs. 75 Lakhs

75% of market value

 

Housing Loan for Public – Pradhan Mantri Awas Yojana – Housing for All – This PNB Housing Loan scheme is for the economically weaker section and people from low income group. This loan can be availed at affordable interest rates. Using the funds, you can construct additional toilets, kitchen, and additional rooms.

 

Key Features –

 

Eligibility –

 

Margin (Borrower’s Contribution) –

Home Loan Amount

Margin

For Loans up to Rs. 20 Lakhs

10%

For Loans above Rs. 20 Lakhs & up to Rs. 30 Lakhs

20%

 

Processing Charges/Upfront Fee – There are no charges for loans up to Rs. 6 Lac.

Housing Loan for Public – Pradhan Mantri Awas Yojana – Middle Income Group – You can avail this loan if you belong to MIG I and MIG II categories. These loans are offered at attractive interest rates.

 

Key Features –

 

Eligibility –

 

Margin (Borrower’s Contribution) –

Loan Amount

Interest Rate

Loan up to Rs. 75 Lakhs

20%

Loan above Rs. 75 Lakhs

25%

 

Borrowing Limit – 

 

Residential Plot Loan – If you are looking to construct residential premises, you can avail one of the popular schemes, of PNB Housing, to buy a residential plot in an urban region.

 

Key Features –

 

Eligibility – Your age should not be more than 70 years at the time of loan maturity.

 

Interest Rates –

Floating Rate –

Category

Interest Rate

Self-employed individuals

9.60% - 11.25%

 

Fixed Rate –

For amount up to Rs. 30 Lakhs –

Fixed for 2 Years

Fixed for 3 Years

Fixed for 3 Years

Fixed for 3 Years

Fixed for 3 Years

8.35% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

9.00% - 10.25%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 20 Lakhs

90% of the market value

Rs. 20 Lakhs and above, up to Rs. 75 Lakhs

80% of the market value

More than Rs. 75 Lakhs

75% of the market value

 

Home Loan for NRIs – If you are an NRI, you can avail this home loan to buy, construct, repair or renovate a residential property in India.

 

Key Features –

 

Eligibility –

 

Interest Rates –

Floating Rate –

Category

Interest Rate

Self-employed Individuals

8.60% - 10.25%

 

Fixed Rate –

Fixed for 1 Year

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

8.35% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

8.50% - 10.25%

9.00% - 10.25%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 75 Lakhs

80% of the market value

Above Rs. 75 Lakhs

75% of the market value

 

Unnati Home Loans – If you belong to a lower and middle income segment, then you can avail this loan. Using this loan, you can easily turn the dream of owning your own home into reality.

 

Key Features –
 

 

Eligibility –

 

Interest Rates –

Floating Rate – 9.75%

Fixed for 1 Year

Fixed for 2 Years

Fixed for 3 Years

Fixed for 5 Years

Fixed for 10 Years

9.75%

9.75%

9.75%

9.75%

9.75%

 

Documentation –

 

Borrowing Limit –

Loan Amount

Maximum Funding

Up to Rs. 25 Lakhs

Up to 67% of the property’s market value.

 

Pradhan Mantri Awas Yojana – This is a Credit Linked Subsidy Scheme and it is for the people belonging to EWS (economically weaker section) and LIG (lower income group), and MIG (middle income group). According to this scheme, you can have interest subsidy on purchase, construction, and renovation of a house.

Salient Features –

 

Interest Rates – 8.50% – 8.70%

 

Documentation –

 

Borrowing Limit – The maximum loan amount you can borrow is Rs. 30 Lakhs.

FAQs

Do I have to pay any margin money to avail PNB Home loan?

Yes, you need to pay 20% margin money for home loan up to Rs.75 lac, 25% margin money for home loan above Rs.75 lac, and 25% margin money for purchase of land or plot to build house.

 

What is the applicable moratorium period for PNB Home Loan?

In case of construction/additions of a house or a flat, moratorium period equals to the completion of construction time (including additions) or 18 months, from the date of disbursement of first installment of the loan, whichever is earlier.

In case of carrying out repairs/renovation/alterations to the house/flat, moratorium period till completion of the repairs/ renovation/alterations or 6 months, from the date of disbursement of first installment of the loan, whichever is earlier.

In case of purchase of prebuilt house/flat or land/plot, moratorium period till the date of possession or 3 months from the date of advance, whichever is earlier.

 

Is there any concession in the interest paid on Home loan for female applicants?

Yes, there is 0.05% concession in the interest rate for the female applicants.

This offer is only applicable if the female applicant is the sole applicant or one of the co-applicants for the loan and also the sole owner or one of the co-owners of the property proposed to be financed by the bank.

 

What are the processing charges for PNB Home Loan?

A processing fee of 0.50% of the loan amount will be charged from the customer for a loan up to Rs. 3 Crores, subject to maximum Rs. 20,000. And a processing fee of Rs. 50,000 a for loan above Rs. 3 Crores.